Forge Academy
EIN: 461626349 · Richmond, VA · NTEE: B42
| Metric | Value |
|---|---|
| Total Revenue | $421K |
| Total Expenses | $575K |
| Net Assets | $55K |
Is Forge Academy Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Forge Academy
Forge Academy (EIN: 461626349) is a nonprofit organization based in Richmond, VA, classified under NTEE code B42. The organization reported total revenue of $421K and total assets of $97K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Forge Academy's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Forge Academy is a small nonprofit that has been operating for 13 years, with 11 years of IRS 990 filings on record (2013–2023). Revenue has grown at a compound annual rate of 20.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $501K |
| Total Expenses | $575K |
| Surplus / Deficit | $-74,304 |
| Total Assets | $98K |
| Total Liabilities | $43K |
| Net Assets | $55K |
| Operating Margin | -14.8% |
| Debt-to-Asset Ratio | 44.2% |
| Months of Reserves | 2.0 months |
Financial Health Grade: C
In 2023, Forge Academy reported a deficit of $74K with expenses exceeding revenue, holds 2.0 months of operating reserves (limited), has a debt-to-asset ratio of 44.2% (moderate leverage).
Financial Trends
Over 11 years of filings (2013–2023), Forge Academy's revenue has grown at a compound annual growth rate (CAGR) of 20.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -44.8% | -27.9% | -42.6% |
| 2022 | +36.6% | +18.3% | +56.4% |
| 2021 | -1.6% | +7.0% | -1.5% |
| 2020 | -25.8% | -29.5% | +111.5% |
| 2019 | +28.8% | +30.1% | +14.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2013 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Forge Academy has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Forge Academy with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $74K, with expenses exceeding revenue.
- Debt-to-asset ratio: 44.2%.
Frequently Asked Questions about Forge Academy
Is Forge Academy a legitimate charity?
Forge Academy (EIN: 461626349) is a registered tax-exempt nonprofit based in Virginia. It has 11 years of IRS 990 filings on record. Total revenue: $421K. No red flags identified. Financial health grade: C.
How does Forge Academy spend its money?
Forge Academy reported $421K in total revenue in IRS 990 filings. 11 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Forge Academy tax-deductible?
Forge Academy is registered as a tax-exempt nonprofit (EIN: 461626349). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Forge Academy located?
Forge Academy is headquartered in Richmond, Virginia and files with the IRS under EIN 461626349. It is classified under NTEE code B42.
How many years of IRS 990 filings does Forge Academy have?
Forge Academy has 11 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $421K in total revenue.
Filing History
IRS 990 filing history for Forge Academy showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2013–2023), Forge Academy's revenue has grown by 518.3%, moving from $81K to $501K. Total assets increased by 24503.3% over the same period, from $399 to $98K. Total functional expenses rose by 612.8%, from $81K to $575K. In its most recent filing year (2023), Forge Academy reported a deficit of $74K, with expenses exceeding revenue. The organization holds $43K in liabilities against $98K in assets (debt-to-asset ratio: 44.2%), resulting in net assets of $55K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $501K | $575K | $98K | $43K | — | — |
| 2022 | $906K | $798K | $171K | $40K | — | View 990 |
| 2021 | $663K | $674K | $109K | $38K | — | View 990 |
| 2020 | $674K | $630K | $111K | $25K | — | View 990 |
| 2019 | $909K | $894K | $52K | $17K | — | View 990 |
| 2018 | $706K | $687K | $46K | $40K | — | View 990 |
| 2017 | $493K | $524K | $9K | $25K | — | View 990 |
| 2016 | $178K | $177K | $45K | $0 | — | View 990 |
| 2015 | $97K | $99K | $14K | $0 | — | View 990 |
| 2014 | $112K | $96K | $16K | $0 | — | View 990 |
| 2013 | $81K | $81K | $399 | $100 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $501K, expenses of $575K, and assets of $98K (revenue -44.8% year-over-year).
- 2022: Revenue of $906K, expenses of $798K, and assets of $171K (revenue +36.6% year-over-year).
- 2021: Revenue of $663K, expenses of $674K, and assets of $109K (revenue -1.6% year-over-year).
- 2020: Revenue of $674K, expenses of $630K, and assets of $111K (revenue -25.8% year-over-year).
- 2019: Revenue of $909K, expenses of $894K, and assets of $52K (revenue +28.8% year-over-year).
- 2018: Revenue of $706K, expenses of $687K, and assets of $46K (revenue +43.1% year-over-year).
- 2017: Revenue of $493K, expenses of $524K, and assets of $9K (revenue +177.4% year-over-year).
- 2016: Revenue of $178K, expenses of $177K, and assets of $45K (revenue +83.6% year-over-year).
- 2015: Revenue of $97K, expenses of $99K, and assets of $14K (revenue -13.6% year-over-year).
- 2014: Revenue of $112K, expenses of $96K, and assets of $16K (revenue +38.4% year-over-year).
- 2013: Revenue of $81K, expenses of $81K, and assets of $399.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Forge Academy:
Data Sources and Methodology
This transparency report for Forge Academy is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.