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Forman Fam Foundation Tr 12112013

Michael Forman & Jennifer Rice Ttee
  • Philadelphia, PA
  • Tax-exempt since July 2014
  • EIN: 38-7106076

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Philanthropy, Voluntarism and Grantmaking Foundations / Named Trusts/Foundations N.E.C. (NTEE)

Donations to this organization are tax deductible.

Summary charts: organization finances over time

Revenue
$2.45M (2023)

Expenses
$2.18M (2023)

Total Assets
$48.5M (2023)

Total Liabilities
$123k (2023)

Source: Form 990 tax filings from 2013 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$2,445,200
Expenses
$2,179,496
Net Income
$265,704
Net Assets
$48,337,205
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $0
Dividends $679,763
27.8%
Sales of Assets $1,762,112
72.1%
Other Income $3,325
0.1%
Notable Expenses Percent of Total Expenses
Charitable Disbursements $1,323,404
60.7%
Compensation of Officers* $21,857
1.0%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $48,460,122
Total Liabilities $122,917
Net Assets $48,337,205
Compensation
Key Employees and Officers Compensation Other
Thomas Trala (Treasurer/Secretary) $21,857 $0
Michael C Forman (Trustee) $0 $0
Jennifer S Rice (Trustee) $0 $0

Document Links

990-PF
Filed on Nov. 14, 2024

Primary tax return for a private foundation's activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$2,386,977
Expenses
$8,948,874
Net Income
-$6,561,897
Net Assets
$46,677,195
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $1,990,000
83.4%
Interest Revenue $3,931
0.2%
Dividends $311,345
13.0%
Sales of Assets $0
Other Income $81,701
3.4%
Notable Expenses Percent of Total Expenses
Charitable Disbursements $1,657,034
18.5%
Compensation of Officers* $37,855
0.4%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $46,793,519
Total Liabilities $116,324
Net Assets $46,677,195
Compensation
Key Employees and Officers Compensation Other
Thomas Trala (Treasurer/Secretary) $37,855 $0
Michael C Forman (Trustee) $0 $0
Jennifer S Rice (Trustee) $0 $0

Document Links

990-PF
Filed on Nov. 14, 2023

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML
990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$58,162
Expenses
$3,364,037
Net Income
-$3,305,875
Net Assets
$54,033,909
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $132
0.2%
Dividends $58,391
> 100%
Sales of Assets -$361
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $3,086,704
91.8%
Compensation of Officers* $79,057
2.4%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $54,933,768
Total Liabilities $899,859
Net Assets $54,033,909
Compensation
Key Employees and Officers Compensation Other
Thomas Trala (Treasurer/Secretary) $79,057 $0
Michael C Forman (Trustee) $0 $0
Jennifer S Rice (Trustee) $0 $0

Document Links

990-PF
Filed on Nov. 15, 2022

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML
990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$17,722
Expenses
$13,820,824
Net Income
-$13,803,102
Net Assets
$48,727,957
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $27
0.2%
Dividends $17,695
99.8%
Sales of Assets $0
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $13,095,250
94.8%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $49,423,957
Total Liabilities $696,000
Net Assets $48,727,957
Compensation
Key Employees and Officers Compensation Other
Michael C Forman (President) $0 $0
Jennifer S Rice (Vice President) $0 $0
Thomas Trala (Treasurer/Secretary) $0 $0

Document Links

990-PF
Filed on Feb. 6, 2023

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML
View Filing (2 of 2)

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$13,522,584
Expenses
$1,867,502
Net Income
$11,655,082
Net Assets
$54,540,838
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $11,000,000
81.3%
Interest Revenue $58,315
0.4%
Dividends $1,633,534
12.1%
Sales of Assets $828,564
6.1%
Other Income $2,171
0.0%
Notable Expenses Percent of Total Expenses
Charitable Disbursements $1,740,250
93.2%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $54,540,839
Total Liabilities $1
Net Assets $54,540,838
Compensation
Key Employees and Officers Compensation Other
Michael C Forman (President) $0 $0
Jennifer S Rice (Vice President) $0 $0

Document Links

990-PF
Filed on Nov. 16, 2020

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$28,110,598
Expenses
$1,739,508
Net Income
$26,371,090
Net Assets
$46,195,829
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $27,068,420
96.3%
Interest Revenue $33,405
0.1%
Dividends $845,128
3.0%
Sales of Assets $154,731
0.6%
Other Income $8,914
0.0%
Notable Expenses Percent of Total Expenses
Charitable Disbursements $1,650,925
94.9%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $46,195,829
Total Liabilities $0
Net Assets $46,195,829
Compensation
Key Employees and Officers Compensation Other
Michael C Forman (President) $0 $0
Jennifer S Rice (Vice President) $0 $0

Document Links

990-PF
Filed on Nov. 14, 2019

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$1,204,216
Expenses
$767,746
Net Income
$436,470
Net Assets
$20,208,692
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $31,465
2.6%
Dividends $1,035,090
86.0%
Sales of Assets $133,840
11.1%
Other Income $3,821
0.3%
Notable Expenses Percent of Total Expenses
Charitable Disbursements $734,000
95.6%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $20,208,692
Total Liabilities $0
Net Assets $20,208,692
Compensation
Key Employees and Officers Compensation Other
Michael C Forman (President) $0 $0
Jennifer S Rice (Vice President) $0 $0

Document Links

990-PF
Filed on Nov. 15, 2018

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$16,679,305
Expenses
$410,191
Net Income
$16,269,114
Net Assets
$19,749,383
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $16,734,407
> 100%
Interest Revenue $8,937
0.1%
Dividends $35,542
0.2%
Sales of Assets -$99,581
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $390,868
95.3%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $19,749,383
Total Liabilities $0
Net Assets $19,749,383
Compensation
Key Employees and Officers Compensation Other
Michael C Forman (President) $0 $0
Jennifer S Rice (Vice President) $0 $0

Document Links

990-PF
Filed on May 12, 2017

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$163,591
Expenses
$412,666
Net Income
-$249,075
Net Assets
$5,192,929
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $16
0.0%
Dividends $87,490
53.5%
Sales of Assets $76,085
46.5%
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $381,424
92.4%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $5,192,929
Total Liabilities $0
Net Assets $5,192,929
Compensation
Key Employees and Officers Compensation Other
Michael C Forman (President) $0 $0
Jennifer S Rice (Vice President) $0 $0

Document Links

990-PF
Filed on Aug. 16, 2016

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML
PDF (2 of 2)

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$191,002
Expenses
$250,498
Net Income
-$59,496
Net Assets
$5,440,504
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $0
Interest Revenue $294
0.2%
Dividends $106,403
55.7%
Sales of Assets $84,305
44.1%
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $226,450
90.4%
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $5,440,504
Total Liabilities $0
Net Assets $5,440,504
Compensation
Key Employees and Officers Compensation Other
Michael C Forman (Trustee) $0 $0
Jennifer S Rice (Trustee) $0 $0

Document Links

990-PF
Filed on Nov. 16, 2015

Primary tax return for a private foundation's activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2013

Extracted Financial Data

Extracted Financial Data from Form 990-PF
Revenue
$5,500,000
Expenses
$0
Net Income
$5,500,000
Net Assets
$5,500,000
Notable Sources of Revenue Percent of Total Revenue
Contributions Received $5,500,000
100%
Interest Revenue $0
Dividends $0
Sales of Assets $0
Other Income $0
Notable Expenses Percent of Total Expenses
Charitable Disbursements $0
Compensation of Officers* $0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.
Assets/Debt
Total Assets $5,500,000
Total Liabilities $0
Net Assets $5,500,000

Document Links

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

About This Data

What Is This Data?

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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  • Raw filing data. Includes EINs and summary financials as structured data.
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Nonprofit Explorer

Browse millions of annual returns filed by tax-exempt organizations with ProPublica’s Nonprofit Explorer. See details like executive compensation, revenue, expenses and more. Search for an organization or a person, or search the full text of filings.

By Andrea Suozzo, Alec Glassford, Ash Ngu and Brandon Roberts.

Design by Jeff Frankl. Additional development by Ken Schwencke, Mike Tigas, and Sisi Wei.

E-file viewer adapted from IRS e-File Viewer by Ben Getson. Code for scraping audit documents adapated from Govwiki.

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