Forge Academy

Nonprofit profile at a glance

EIN
461626349
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-EZ 2016
Location
Richmond, VA, USA
Phone
8043374256
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Undergraduate College (4-year)

Reported finances

Revenue
$421,492
Expenses
$419,737
Assets
$96,776
Liabilities
$40,234

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

Leadership & pay

10 people listed

Executive titles in this filing

  • AMANDA COOMBS (OUTGOING EXECUTIVE DIRECTOR)
  • ALLISON GARRETT (PROMOTED TO EXECUTIVE DIRECTOR)

Highest reported compensation

  • ALLISON GARRETT (PROMOTED TO EXECUTIVE DIRECTOR): $85,417 total reported compensation
  • AMANDA COOMBS (OUTGOING EXECUTIVE DIRECTOR): $41,250 total reported compensation
  • HANNAH YUM (DIRECTOR OF OPERATIONS): $40,833 total reported compensation

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

Overview

Mission

Provide a forum for intellectual thinking and collaboration amongst programmers, designers, and thinking to further eductate the members.

What it reported doing in 2024

Launch internship program and community events - providing skills, training and internship placement for students in the areas of software engineering, data science, and digital marketing. Both students and companies benefit from the training and access provided to the talent pool. Events also provide mentorship to current students and promote awareness for gender equality and workplace equity.

Operating model

Revenue model
Earned-program. 96% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - 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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 92
  • Accountability: 77
  • Sustainability: 24
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99.6%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0.4%; rating input score 40; 40th percentile among comparable filings
  • Total-asset coverage ratio: 0.23; rating input score 13; 13th percentile among comparable filings
  • Liabilities to assets ratio: 0.42; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -2.9% per year; rating input score 0; 21st percentile among comparable filings
  • Revenue growth: 12% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 20.1% per year; rating input score 100; 85th percentile among comparable filings

Details

  • Where the money goes: 99.6% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 5 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $420K in reported program spending
  • Leadership: top reported pay $85K · 10 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Moderate — Accountability: Governance controls: 4 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 40/100.
  • High — Sustainability: Total-asset coverage ratio scored 13/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.