Business Forward Foundation

Nonprofit profile at a glance

EIN
462250437
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Washington, DC, USA
Phone
2028611270
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Alliance/Advocacy Organizations

Official website

Reported finances

Revenue
$5,495,132
Expenses
$5,312,080
Assets
$728,016
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • ELIZABETH FAIRCHILD (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JAMES DOYLE (OFFICER-DIRECTOR): $971,000 total reported compensation
  • ELIZABETH FAIRCHILD (EXECUTIVE DIRECTOR): $303,876 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The business forward foundation is an independent research organization that takes a business-minded look at policy issues affecting america's economic competitiveness.

What it reported doing in 2024

Research and education regarding economic issues

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 49% for direct work, and 51% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 93
  • Transparency & Controls: 79
  • Accountability: 38
  • Sustainability: 42
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.1%; rating input score 93
  • Program expense ratio: 96.2%; rating input score 96
  • Fundraising efficiency: $99.67 raised per $1 spent on fundraising; rating input score 86; 86th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 50%; rating input score 50; 8th percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 22
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 3.3%; rating input score 46; 46th percentile among comparable filings
  • Total-asset coverage ratio: 0.14; rating input score 4; 4th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 3.4%; rating input score 66; 66th percentile among comparable filings

Growth

  • Program expense growth: 28.1% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: 23.8% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: 21.5% per year; rating input score 100; 86th percentile among comparable filings

Details

  • Where the money goes: 93.1% of revenue deployed · 96.2% of spending went to programs
  • Governance: 2 of 4 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $5.1M in reported program spending
  • Leadership: top reported pay $971K · 4 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.6M reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 10 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 6 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 6 of 8 not reported.
  • Review — Accountability: Independent voting board scored 50/100.
  • High — Sustainability: Total-asset coverage ratio scored 4/100.
  • Moderate — Sustainability: Operating margin scored 46/100.