Forward Foundation Inc (EIN 391571083) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1986

Legal Domicile

Principal Officer

Shar Hermanson

Phone

6087573160

Tax Period

2024-03-01 to 2025-02-28

Forward Foundation Inc, founded in 1986, is a small nonprofit in the Community Improvement sector that reported $357K in total revenue in fiscal year 2024. Revenue fell 64% from the prior year — a significant decline worth monitoring. Expenses of $334K left a modest 7% surplus.

Mission

The purpose is to encourage economic development by marketing and promoting activities aimed at attracting new industries to Janesville.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $187,058

Program Service Revenue $207,043

Investment Income $21,275

Other Revenue $-58,406

TOTAL REVENUE $356,970

Expense Breakdown

Grants Paid $57,500

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $186,248

Other Expenses $276,088

TOTAL EXPENSES $333,588

Year-over-Year Comparison

	2024	2023	Change
Revenue	$356,970	$978,936	-0.6%
Expenses	$333,588	$665,609	-0.5%
Net Income	$23,382	$313,327	-0.9%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$162,003

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Sharlon Hermanson	President	1.00	Officer	$0	$823	$71,139
Corinne Webber	Mgr Finance & Ops	1.00	Officer	$0	$4,808	$46,612
Angela Pakes	President (until 3/1/24)	1.00	Officer	$0	$6,011	$44,252
Craig DeGarmo	Director	1.00	Director	$0	$0	$0
Larry Squire	Director	1.00	Director	$0	$0	$0
Sean Kennedy	Director	1.00	Director	$0	$0	$0
Lynn Gardinier	Director	1.00	Director	$0	$0	$0
Tim Lindau	Director	1.00	Director	$0	$0	$0
Derek Greene	Vice Chair	1.00	Officer Director	$0	$0	$0
Michael Gilbertson	Future Vice Chair	1.00	Officer Director	$0	$0	$0
Oakleigh Ryan	Past Chair	1.00	Officer Director	$0	$0	$0
David Hiller	Chair	1.00	Officer Director	$0	$0	$0
George Cullen	Treasurer	1.00	Officer Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$356,970	$333,588	$2,342,845	$23,382
2024	$978,936	$665,609	$2,344,364	$313,327
2023	$407,249	$335,824	$1,997,790	$71,425
2022	$220,944	$433,461	$1,926,376	$-212,517
2021	$183,000	$627,629	$2,555,599	$-444,629
2020	$853,046	$912,520	$2,671,939	$-59,474
2019	$2,006,997	$3,137,941	$2,732,504	$-1,130,944

Forward Foundation Inc