The Forum Inc

Nonprofit profile at a glance

EIN
660688974
IRS 990 coverage
2022–2022
Forms available
Form 990 2022, Form 990-EZ 2021
Location
St Thomas, VI, USA
Phone
6467253353
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Folk Arts

Official website

Reported finances

Revenue
$207,733
Expenses
$212,532
Assets
$49,752
Liabilities
$29,724

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • CORNELIUS B PRIOR JR (PRESIDENT)

Highest reported compensation

  • NICOLE KOERTZ-PARSON (EXECUTIVE DI): $24,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Sponsoring performing artists and speakers

What it reported doing in 2022

Musical events - sponsoring performing artists and speakers.

Operating model

Revenue model
Donor-supported. 85% of the money available for current operations came from contributions and gifts.
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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Some filing-based governance responses are negative or unanswered and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 54
  • Transparency & Controls: 92
  • Accountability: 63
  • Sustainability: 25
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60.3%; rating input score 60
  • Program expense ratio: 59%; rating input score 59
  • Fundraising efficiency: $2.03 raised per $1 spent on fundraising; rating input score 8; 8th 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: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -2.3%; rating input score 36; 36th percentile among comparable filings
  • Total-asset coverage ratio: 0.23; rating input score 12; 12th percentile among comparable filings
  • Liabilities to assets ratio: 0.6; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 11.3%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 22.5% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: -3.9% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 60.3% of revenue deployed · 59% of spending went to programs
  • Governance: 11 of 11 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $125K in reported program spending
  • Leadership: top reported pay $24K · 11 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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 7 not reported.
  • Review — Financial Efficiency: Program expense ratio scored 59/100.
  • High — Financial Efficiency: Fundraising efficiency scored 8/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 36/100.
  • High — Sustainability: Total-asset coverage ratio scored 12/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • High — Sustainability: Officer compensation ratio scored 29/100.