Forge Greensboro

Nonprofit profile at a glance

EIN
462346843
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-EZ 2016
Location
Greensboro, NC, USA
Phone
3362525331
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$611,314
Expenses
$655,076
Assets
$389,389
Liabilities
$258,366

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

Leadership & pay

12 people listed

Executive titles in this filing

  • Joey Adams (President)
  • Erol Yurtkuran (Vice President)
  • Tiffany Jacobs (Executive Director)

Highest reported compensation

  • Tiffany Jacobs (Executive Director): $88,678 total reported compensation

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

Overview

Mission

To acquire and maintain a collaborative workspace for communal use by all members; foster a creative, collaborative environment for experimentation and development in technology and art; interact with the local community that the space is situated in through education.

What it reported doing in 2024

Memberships and Scholarships - Provide a collaborative workspace for communal use by all members. Over 400 members utilized space throughout year, including over 100 members receiving free or discounted memberships ("makerships") valued at $103,020.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 22
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.1%; rating input score 81
  • Program expense ratio: 74.3%; rating input score 74
  • Fundraising efficiency: $5.78 raised per $1 spent on fundraising; rating input score 21; 21st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -7.2%; rating input score 21; 21st percentile among comparable filings
  • Total-asset coverage ratio: 0.59; rating input score 28; 28th percentile among comparable filings
  • Liabilities to assets ratio: 0.66; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 13.5%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: 15.8% per year; rating input score 100; 76th percentile among comparable filings
  • Revenue growth: 17.8% per year; rating input score 100; 83rd percentile among comparable filings
  • Asset growth: 13.7% per year; rating input score 100; 69th percentile among comparable filings

Details

  • Where the money goes: 81.1% of revenue deployed · 74.3% of spending went to programs
  • Governance: 11 of 11 board members independent · 5 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $487K in reported program spending
  • Leadership: top reported pay $89K · 12 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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 — Financial Efficiency: Fundraising efficiency scored 21/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 21/100.
  • High — Sustainability: Total-asset coverage ratio scored 28/100.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.
  • High — Sustainability: Officer compensation ratio scored 26/100.