FORBES AVENUE FOUNDATION INC

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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

2019

Legal Domicile

Principal Officer

DAN VERES

Phone

4123267649

Tax Period

2024-07-01 to 2025-06-30

FORBES AVENUE FOUNDATION INC, founded in 2019, is a small nonprofit in the Arts, Culture & Humanities sector that reported $494K in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion. The organization ran a surplus of $131K, a strong 26% operating margin.

Mission

BEATRICE INSTITUTE IS AN ECUMENICAL LEARNING AND RESEARCH COMMUNITY BASED IN PITTSBURGH THAT FOSTERS FRIENDSHIPS AROUND THE CHRISTIAN INTELLECTUAL AND CULTURAL TRADITIONS IN PURSUIT OF THE BEAUTIFUL, THE TRUE, AND THE GOOD.

Program Service Accomplishments

Program 1

Expenses: $209,810

CHRISTIAN STUDIES FELLOWSHIP: PROVIDE ADVISING, EXTRACURRICULAR EVENTS, LECTURES AND SEMINARS TO UNDERGRADUATE AND GRADUATE FELLOWS.

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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 $480,731

Program Service Revenue $0

Investment Income $0

Other Revenue $13,374

TOTAL REVENUE $494,105

Expense Breakdown

Grants Paid $0

Salaries & Benefits $269,937

Fundraising Expenses $74,396

Program Expenses $209,810

Other Expenses $93,618

TOTAL EXPENSES $363,555

Year-over-Year Comparison

	2024	2023	Change
Revenue	$494,105	$431,252	+0.1%
Expenses	$363,555	$486,418	-0.3%
Net Income	$130,550	$-55,166	-3.4%

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

Total Directors

$129,918

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAN VERES	PRESIDENT	5.00	Officer Director	$0	$0	$0
DAREN D'IPPOLITO	VICE PRESIDE	5.00	Officer Director	$0	$0	$0
JASON SPAK	SECRETARY	5.00	Officer Director	$0	$0	$0
MARK GROBAKER	TREASURER	5.00	Officer Director	$0	$0	$0
JAMES DEMASI	EXECUTIVE DI	40.00	Director	$93,250	$0	$93,250
RYAN MCDERMOTT	FOUNDER, SR	10.00	Director	$36,668	$0	$36,668

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	$494,105	$363,555	$148,579	$130,550
2024	$431,252	$486,418	$17,333	$-55,166
2023	$332,499	$311,410	$71,946	$21,089
2021	$254,127	$168,981	$92,397	$85,146
2020	$100,780	$150,484	$17,788	$-49,704