FOREVER 56 FOUNDATION INC

EIN: 824654890 501(c)(3) Philanthropy & Grantmaking

VERONA, WI

Total Revenue
$55,855
Total Expenses
$55,346
Total Assets
$114,863
Net Assets
$114,863
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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
2018
Legal Domicile
WI
Tax Period
2024-01-01 to 2024-12-31

FOREVER 56 FOUNDATION INC, founded in 2018, is a micro nonprofit in the Philanthropy & Grantmaking sector that reported $56K in total revenue in fiscal year 2024. Net assets of $115K represent 25 months of operating reserves.

Mission

FOREVER 56 FOUNDATION PROVIDES SUPPORT AND SCHOLARSHIPS TO YOUTH AND ORGANIZATIONS THAT EXEMPLIFY THE SPIRIT OF ERIC OCONNOR

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $48,708
Program Service Revenue $0
Investment Income $1,188
Other Revenue $5,959
TOTAL REVENUE $55,855

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $55,121
Other Expenses $55,346
TOTAL EXPENSES $55,346

Year-over-Year Comparison

2024 2023 Change
Revenue $55,855 N/A N/A
Expenses $55,346 N/A N/A
Net Income $509 N/A N/A
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

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Governance

Voting Members
7
Independent Members
7
Employees
N/A
Volunteers
N/A

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
4
$0
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MIKE KRAWZCYK DIRECTOR 1.00
Director
$0 $0 $0
JASON EYLER DIRECTOR 1.00
Director
$0 $0 $0
KOREY TRAINOR DIRECTOR 1.00
Director
$0 $0 $0
STEVE OCONNOR PRESIDENT 2.00
Officer
$0 $0 $0
TONY OCONNOR VICE PRESIDENT 2.00
Officer
$0 $0 $0
SHERRY OCONNOR TREASURER 3.00
Officer
$0 $0 $0
KRISTIN OCONNOR SECRETARY 2.00
Officer
$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
2024 $55,855 $55,346 $114,863 $509
2023 $59,982 $38,643 $113,068 $21,339
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