FORGE ACADEMY

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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

2012

Legal Domicile

Principal Officer

AMANDA COOMBS

Phone

8043374256

Tax Period

2023-01-01 to 2023-12-31

FORGE ACADEMY, founded in 2012, is a small nonprofit in the Education sector that reported $501K in total revenue in fiscal year 2023. Revenue fell 45% from the prior year — a significant decline worth monitoring. Expenses of $575K exceeded revenue, resulting in a 15% operating deficit.

Mission

TO EMPOWER AND CONNECT STUDENTS WITH THE SKILLS AND OPPORTUNITIES THEY NEED TO THRIVE IN THEIR EARLY CAREERS, WHILE ALSO SERVING AS A STRATEGIC PARTNER FOR COMPANIES IN BUILDING A DIVERSE AND EXCEPTIONAL TALENT PIPELINE.

Program Service Accomplishments

Program 1

Expenses: $574,836 Revenue: $489,782

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...

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.

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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 (2023)

Revenue Breakdown

Contributions & Grants $10,497

Program Service Revenue $489,782

Investment Income $253

Other Revenue $0

TOTAL REVENUE $500,532

Expense Breakdown

Grants Paid $0

Salaries & Benefits $490,356

Fundraising Expenses $0

Program Expenses $574,836

Other Expenses $84,480

TOTAL EXPENSES $574,836

Year-over-Year Comparison

	2023	2022	Change
Revenue	$500,532	$906,204	-0.4%
Expenses	$574,836	$797,612	-0.3%
Net Income	$-74,304	$108,592	-1.7%

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

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

$95,079

Total Directors

$1,000

Key Employees

$187,202

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERIC MARTIN	DIRECTOR	1.00	Director	$0	$0	$0
CHIP RANSLER	SECRETARY	1.00	Officer Director	$1,000	$0	$1,000
JOHN FEMINELLA	TREASURER	1.00	Officer Director	$0	$0	$0
CLARE CARR	CHAIRPERSON	1.00	Director	$0	$0	$0
JASON BEVERAGE	DIRECTOR	1.00	Director	$0	$0	$0
AMANDA COOMBS	EXECUTIVE DIRECTOR	40.00	Officer Key Emp	$94,079	$0	$94,079
ALLISON GARRETT	DIRECTOR OF BUSINESS DEVELOPMENT	40.00	Key Emp	$71,055	$0	$71,055
ANGELA KOUKOULAS	PARTNERSHIPS DIRECTOR	40.00	Key Emp	$22,068	$0	$22,068

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
2024	No data	No data	No data	No data
2023	$500,532	$574,836	$98,167	$-74,304
2022	$906,204	$797,612	$170,990	$108,592
2021	$663,425	$674,449	$109,340	$-11,024
2020	$674,417	$630,212	$110,953	$44,205
2019	$908,666	$893,778	$52,454	$14,888
2018	$705,705	$686,952	$46,008	$18,753