Nonprofit · EIN 25-1418095
THE FORBES FUNDS
Also known as FRED BROWN
Tax-exempt · PITTSBURGH, PA 15212
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,683,390 | $2,320,380 | -$636,990 | $9,820,901 | $395,503 | $9,425,398 |
| December 31, 2023 | 990 | $2,655,431 | $2,593,246 | $62,185 | $10,327,800 | $572,272 | $9,755,528 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $519,055
- Membership dues
- $16,529
- Program service revenue
- $409,680
- Investment income
- $754,655
- Net gain from sales of assets
- $522,401
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $170,000
- Compensation of officers, directors and key employees
- $298,365
- Other salaries and wages
- $530,249
- Salaries, compensation and benefits (total)
- $1,051,642
- Professional fundraising fees
- $2,070
- Legal fees
- $11,960
- Accounting fees
- $21,161
- Occupancy
- $10,387
- Travel
- $13,381
- Program services (functional)
- $1,663,580
- Management and general (functional)
- $536,704
- Fundraising (functional)
- $120,096
Balance sheet and other
- Total assets, start of year
- $10,327,800
- Total assets, end of year
- $9,820,901
- Total liabilities, end of year
- $395,503
- Net assets, end of year
- $9,425,398
- Publicly traded securities
- $7,947,698
- Net assets without donor restrictions
- $1,274,962
- Net assets with donor restrictions
- $8,150,436
- Gross receipts
- $2,666,478
- Employees
- 9
- Volunteers
- 15
- Year formed
- 1982
- State of legal domicile
- PA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| ELISABETH SCHROEDER | MEMBER AT LARGE Trustee or director | 1 | $0 | $647,859 | $72,441 |
| JONATHAN BRELSFORD | MEMBER AT LARGE Trustee or director | 1 | $0 | $307,282 | $72,223 |
| FRED BROWN | PRESIDENT/CEO Officer | 65 | $230,023 | $0 | $63,766 |
| OLIVIA BENSON GALLINA | CHIEF OPERATING OFFICER Highest-paid employee | 50 | $104,152 | $0 | $52,635 |
| HANNAH KAROLAK | CHIEF PROGRAM OFFICER Highest-paid employee | 50 | $102,896 | $0 | $44,432 |
| JASON JONES | TREASURER Trustee or director, Officer | 1 | $4,575 | $0 | $0 |
| BILL ISLER | CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| JAMES E TAYLOR | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| KATHY HUMPHREY | MEMBER AT LARGE Trustee or director | 1 | $0 | $0 | $0 |
| SYLVIA FIELDS | MEMBER AT LARGE (EXIT 3/24) Trustee or director | 1 | $0 | $0 | $0 |
| JEREMIAH BROOKER | MEMBER AT LARGE (ENTER 6/24) Trustee or director | 1 | $0 | $0 | $0 |
| STANLEY LITOW | MEMBER AT LARGE (ENTER 6/24) Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended December 31, 2023: 11 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| ELISABETH SCHROEDER | MEMBER AT LARGE Trustee or director | 1 | $0 | $616,727 | $73,375 |
| JONATHAN BRELSFORD | MEMBER AT LARGE Trustee or director | 1 | $0 | $293,187 | $68,264 |
| FRED BROWN | PRESIDENT/CEO Officer | 65 | $221,272 | $0 | $62,915 |
| OLIVIA BENSON | CHIEF OPERATING OFFICER Highest-paid employee | 50 | $102,909 | $0 | $50,294 |
| HANNAH KAROLAK | CHIEF PROGRAM OFFICER Highest-paid employee | 50 | $100,595 | $0 | $44,741 |
| JASON JONES | TREASURER Trustee or director, Officer | 1 | $12,100 | $0 | $0 |
| BILL ISLER | CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| JAMES E TAYLOR | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| KATHY HUMPHREY | MEMBER AT LARGE Trustee or director | 1 | $0 | $0 | $0 |
| ANN E CUDD | MEMBER AT LARGE (EXITED 6/23) Trustee or director | 1 | $0 | $0 | $0 |
| SYLVIA FIELDS | MEMBER AT LARGE Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- TWO ALLEGHENY CENTER NOVA TOWER 2 S, PITTSBURGH, PA 15212-0000
- Principal officer (990 for 2024)
- FRED BROWN, TWO ALLEGHENY CTR NOVA TOWER 2 404, PITTSBURGH, PA 15212
- Signed the 990
- FRED BROWN, PRESIDENT
- Phone
- (412) 284-4034
- Website
- WWW.FORBESFUNDS.ORG
- Return prepared by
- SCHNEIDER DOWNS & CO INC
Mission
SEE SCHEDULE O
Program accomplishments
- CAPACITY BUILDING: PROVIDING NONPROFITS WITH RESOURCES, THROUGH GRANTMAKING AND COHORTS, AND LEARNING FORUMS TO ENABLE THEM TO MANAGE A DISRUPTIVE EVENT, REFRAME THEIR THINKING ABOUT A SPECIFIC ISSUE THAT IMPACTS OPERATIONS, AND PREPARE FOR THE FUTURE. PRIORITY IS GIVEN TO HUMAN SERVICES AND COMMUNITY DEVELOPMENT ORGANIZATIONS IN ALLEGHENY COUNTY.Expenses $883,017 · grants $170,000 · revenue $291,160
- GPNP: LEVERAGING THE COLLECTIVE STRENGTH OF THE SECTOR TO INFORM POLICY, GIVE INPUT TO COMMUNITY PRIORITIES AND STRATEGIES, AND INCREASE THEIR PURCHASING POWER. BIENNIALLY, GPNP ORGANIZES AI COHORTS WHICH BRINGS TOGETHER LOCAL NONPROFIT STAFF AND BOARD MEMBERS PLUS OTHER INTERESTED PARTIES TO DISCUSS OVER AN AFTERNOON, VARIOUS TOPICS OF INTEREST FOR NONPROFITS THAT FOSTERS CAPACITY BUILDING AND SOCIAL INNOVATION.Expenses $333,098 · revenue $118,520
- THE FUND SITS AT THE INTERSECTION BETWEEN PHILANTHROPY AND THE NONPROFIT COMMUNITY. BUILDING UPON OUR 40 PLUS YEAR HISTORY OF SUPPORTING OUR REGION, THE FUND HAS SHIFTED TOWARDS A SYSTEMIC, ECOSYSTEMS DEVELOPMENT APPROACH TO DRIVE TRANSFORMATIVE CHANGE. THE MISSION OF THE FUND FOCUSES ON IMPROVING AND EMPOWERINGTHE MANAGEMENT CAPACITY AND IMPACT OF HUMAN SERVICES AND COMMUNITY-BASED NONPROFITS BOTH AS INDIVIDUAL ORGANIZATIONS AND AS A UNIFIED COALITION OF LEADERS, FUNDERS AND ADVOCATES WORKING COLLABORATIVELY THROUGHOUT SOUTHWESTERN PENNSYLVANIA. CONTINUES ON SCHEDULE O OVER THE PAST SIX YEARS THE FUND HAS ALIGNED ITS TRADITIONAL PROGRAMMING TO INCREASE ENGAGEMENT WITH THE FUND'S REGIONAL PARTNERS AND TO IDENTIFY WHERE GAPS AND OVERLAPS OF SERVICES AND INVESTMENTS EXIST. TODAY, THE FUND HAS CONVENED THOUGHT LEADERS WITHIN THE NONPROFIT SECTOR THROUGH THE GREATER PITTSBURGH NONPROFIT PARTNERSHIP ("GPNP"), LEARNING AND EDUCATION , EXECUTIVE-IN-RESIDENCE ("EIR"), MANAGEMENT ASSISTANCE GRANTS ("MAGS"), CATALYTIC COMMUNITY COHORTS ("C3"), THE COMMONS, AND LARGE AND SMALL AGENCY COHORTS, THE FUND WORKS WITH NONPROFIT ORGANIZATIONS IN ALLEGHENY COUNTY AND SOUTHWESTERN PENNSYLVANIA AND IS BUILDING A GROWING NETWORK OF PARTNERSHIPS ACROSS THE COMMONWEALTH OF PENNSYLVANIA, THE NATION, AND THE GLOBE. IN 2020, THE FUND'S BOARD OF DIRECTORS (THE "BOARD") APPROVED A RACIAL JUSTICE EQUITY FRAMEWORK.. THIS FRAMEWORK INCLUDES INVESTING IN DIVERSE LEADERSHIP, INCREASING THE CAPACITY OF MINORITY-LED ORGANIZATIONS, DEVELOPING SCENARIO PLANNING AND INCREASING COLLABORATIVE CAPACITY OF REGIONAL ORGANIZATIONS. THIS HAS LED TO THE DEVELOPMENT OF AN INTERNATIONAL ANTI-RACISM INSTITUTIONAL COHORT ("ARC") AND THE TRANSFORMATIVE LEADERSHIP COHORT. THE FUND WORKS WITH THE REGIONAL NONPROFIT SECTOR TO NOT ONLY HELP ORGANIZATIONS SURVIVE THE PANDEMIC BUT TO PREPARE FOR THE CHANGES THAT WILL LIKELY OCCUR INCLUDING CHANGES TO FUNDING CYCLES, PHILANTHROPIC PRIORITIES, AND AN INCREASE EMPHASIS ON COLLABORATION. THIS HAS LED TO THE LAUNCH OF VARIOUS LEARNING COHORTS WITH NONPROFITS ON TOPICS SUCH ASARTIFICIAL INTELLIGENCE, HUMAN RESOURCES, EQUITABLE ENTREPRENEURISM, FUNDRAISING AND ADVOCACY, REVENUE DIVERSIFICATION, SUCCESSION PLANNING, OPERATIONAL RESERVES, AND SCENARIO PLANNING. THE FUND HAS WORKED WITH A GROUP OF SKILLS PRACTITIONERS, EDUCATORS, DOCTORS, SCIENTISTS, AND PHILANTHROPISTS TO ADDRESS THE IMPACT ON THE PANDEMIC ON RESILIENT COMMUNITIES AROUND THE COMMONWEALTH OF PENNSYLVANIA. THIS WORK WAS IN COLLABORATION WITH THE PA SECRETARY OF HEALTH AND IS FOCUSED ON ADDRESSING CURRENT HEALTH AND HEALTHCARE INEQUITIES, EQUIPPING FEDERALLY QUALIFIED HEALTH CENTERS WITH RESOURCES LIKE CONTACT TRACERS, AND SUPPORTING WORKFORCE AND SOCIAL SECTOR INVESTMENTS FOR ESSENTIAL WORKERS WHO ARE MORE LIKELY TO CONTRACT THE DISEASE.THE FUND HAS ALSO PARTNERED WITH TECHNOLOGY COMPANIES TO SUPPORT NONPROFIT ADOPTION TO EMERGING TECHNOLOGIES LIKE ASSISTED INTELLIGENCE. THE FUND NOW ALIGNS ALL SERVICES WITH THE SOCIAL DETERMINATES OF HEALTH ("SDOH") AND UNITED NATIONS SUSTAINABLE DEVELOPMENT GOALS ("UNSDG") TO SHOW THE LOCAL AND GLOBAL IMPACTS OF THE REGION. THIS NEW APPROACH TO ECOSYSTEMS DEVELOPMENT REQUIRES LEVERAGING PARTNERSHIPS AND TOOLS TO ESTABLISH SHARED GOALS. THE GOAL IS TO NOT ONLY IMPROVE ORGANIZATIONAL CAPACITY OF NONPROFITS BUT TO ENSURE THAT THE POPULATIONS SERVED BY ORGANIZATIONS THE FUND SUPPORTS WILL BENEFIT AS WELL. THE PREMISE IS THAT INDIVIDUALS SERVED BY THE ORGANIZATIONS THE FUND SUPPORTS ARE OFTENTIMES DEALING WITH MORE THAN ONE ISSUE, AND A HOLISTIC, COLLABORATIVE APPROACH INVOLVING THE INPUT OF MULTIPLE ORGANIZATIONS IS NECESSARY. THE FUND'S WORK IS CENTERED AROUND MORE THAN TRANSACTIONAL RELATIONSHIPS AND APPROACHES; THE AIM IS TO FOSTER TRANSFORMATIONAL PARTNERSHIPS AND TO OPTIMIZE HOW THE NONPROFIT ECOSYSTEM INTERACTS WITH FUNDERS, GOVERNMENT, PRIVATE SECTOR AND OTHERS IN THE PITTSBURGH REGION. CURRENTLY, THE FUND IS EXPLORING CO-DESIGNED APPROACHES THAT ARE ITERATIVE AND AGILE, ESPECIALLY AS THE NONPROFIT SECTOR ADDRESSES THE REALITIES OF ECONOMIC STRESSES AND SHOCKS TO THE REGION. RECOGNIZING THAT THESE STRESSES AND SHOCKS WILL PUT UNTOLD STRAIN ON SOUTHWESTERN PENNSYLVANIA, THE FUND'S INTENTION WILL BE MOVING FROM SYSTEMS CHANGE TO ECOSYSTEMS COCREATION--WHERE DIVERSE NETWORKS AND CROSS-SECTORAL PARTNERSHIPS CAN HAVE VIBRANT EXCHANGES OF IDEAS AND WHERE LEADERS CAN DRIVE SHARED SOLUTIONS.Expenses $49,311
- SOCIAL INNOVATION: ACCELERATING THE DEVELOPMENT OF PARTNERING MODELS AND TECHNOLOGICAL INNOVATION, LIKE ARTIFICIAL INTELLIGENCE, TO REDUCE EXPENSES AND/OR INCREASE THE IMPACT OF COMMUNITY NONPROFIT ORGANIZATIONS.Expenses $398,154
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 25-1418095
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 1982
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $9,820,901
- Income (IRS master file)
- $2,666,478
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,683,390 | $2,320,380 | $9,820,901 | IRS |
| 990 | December 2023 | $2,655,431 | $2,593,246 | $10,327,800 | XML |
| 990 | December 2022 | $1,718,199 | $2,499,418 | $9,820,078 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 25-1418095).
Questions about THE FORBES FUNDS
- What is the EIN of THE FORBES FUNDS?
- The employer identification number (EIN) of THE FORBES FUNDS is 25-1418095.
- Is THE FORBES FUNDS tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1982.
- Are donations to THE FORBES FUNDS tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does THE FORBES FUNDS file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of THE FORBES FUNDS due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did THE FORBES FUNDS last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of THE FORBES FUNDS?
- The 990 for the year ended December 31, 2024 names FRED BROWN.
- Who are the officers and directors of THE FORBES FUNDS?
- The 990 for the year ended December 31, 2024 lists 12 people; 4 received compensation from the organization.
- How much revenue does THE FORBES FUNDS have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,683,390, expenses of $2,320,380 and total assets of $9,820,901 at year end.
Other nonprofits in PITTSBURGH
- UPMC EIN 20-8295721 · last filed 990 for 2025
- HIGHMARK HEALTH EIN 82-1406555 · last filed 990 for 2024
- UNIVERSITY OF PITTSBURGH EIN 25-0965591 · last filed 990 for 2025
- CARNEGIE MELLON UNIVERSITY EIN 25-0969449 · last filed 990 for 2025
- UPMC EIN 25-1778644 · last filed 990 for 2024
- GBU FINANCIAL LIFE EIN 25-0502660 · last filed 990 for 2024
- STEELWORKERS HEALTH & WELFARE FUND EIN 23-1317409 · last filed 990 for 2024
- UNITED STEELWORKERS EIN 25-0818080 · last filed 990 for 2024