Forsgate Foundation Inc
Nonprofit profile at a glance
- EIN
- 270067456
- IRS 990-EZ coverage
- 2013–2024
- Forms available
- Form 990 2022, Form 990-EZ 2024
- Location
- Monroe Township, NJ, USA
- Phone
- 7326568944
- Rating
- 84
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Fund Raising and Fund Distribution
Reported finances
- Revenue
- $127,579
- Expenses
- $123,970
- Assets
- $10,730
- Liabilities
- $7,409
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
3 people listed
People named in this filing
- CHRISTOPHER SCHIAVONE (CHAIRMAN & TRUSTEE)
- RONALD A SCHIAVONE (EXECUTIVE DIR. & TRUSTEE)
- LEMIA MARINELLI (TREASURER & TRUSTEE)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The foundation was formed exclusively to receive and administer funds for scientific, educational and charitable purposes. The foundation sponsors special events to support local not-for-profit charities.
What it reported doing in 2024
Proceeds from the special events are used to support local not-for-profit charities in support of their scientific, educational and charitable purposes.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 96
- Transparency & Controls: 75
- Sustainability: 31
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 95.1%; rating input score 95
- Program expense ratio: 97.9%; rating input score 98
Transparency & Controls
- Consistency checks: 92.3%; rating input score 92; 3rd percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: 2.8%; rating input score 42; 42nd percentile among comparable filings
- Total-asset coverage ratio: 0.09; rating input score 10; 10th percentile among comparable filings
- Liabilities to assets ratio: 0.69; rating input score 8; 8th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings
Growth
- Program expense growth: 1.1% per year; rating input score 100; 33rd percentile among comparable filings
- Revenue growth: 1.1% per year; rating input score 100; 26th percentile among comparable filings
- Asset growth: -8% per year; rating input score 0; 13th percentile among comparable filings
Details
- Where the money goes: 95.1% of revenue deployed · 97.9% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $121K in reported program spending
- Leadership: top reported pay $0 · 3 people listed
- Consistency: 9 of 9 current checks pass
- Schedules: 4 filed schedules
- Filing history: 4 filing years from 2013 to 2024
- Contacts: How to reach this organization
- Money network: 4 filed money-flow records
- Related organizations: 2 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.
- Moderate — Sustainability: Operating margin scored 42/100.
- High — Sustainability: Total-asset coverage ratio scored 10/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 8/100.