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Forward Community Investments Inc

EIN 39-1815578 · Madison, WI

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood78 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

WE INVEST IN PEOPLE, PROJECTS, AND ORGANIZATIONS THAT CREATE LASTING IMPACT, ADDRESSING COMMUNITY NEEDS IN INNOVATIVE AND EFFECTIVE WAYS. BY LEVERAGING A NETWORK OF PARTNERSHIPS AND CREATIVE FINANCING, WE ENSURE INDIVIDUALS AND NEIGHBORHOODS ACROSS WISCONSIN HAVE ACCESS TO THE RESOURCES THEY NEED TO PROSPER.

Income
$3.7 million
Spending
$3.0 million
Spent on programs
61%
Reserves
54.9 months of spending
Largest source of income
fees for its services, 83%
Employees
0
Volunteers
13
Highest pay
$243,062, president & ceo

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 78 out of 100. Higher than 57% of charities in its peer group (community improvement, $1m to $10m).

  • Reserves

    35 of 35

    Spendable reserves would cover 54.9 months of spending.

  • Debt

    5 of 20

    It owes 53% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 18% of income.

  • Income trend

    15 of 15

    Income rose 9% on the year before.

  • Spending floor

    8 of 15

    61% of spending went to programs and raising each dollar of donations cost 1 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 68% of charities in its peer group (community improvement, $1m to $10m).

  • Independent board

    25 of 25

    9 of 9 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (2)
  1. $1.8 million spent. COMMUNITY LENDING SERVICES - FCI'S LENDING SERVICES INCORPORATE ACTIVITIES ESSENTIAL TO PROVIDING LOANS TO FCI'S CLIENTS. THOSE SERVICES INCLUDE DEVELOPING AND MAINTAINING CLIENT, LENDER AND INVESTOR RELATIONS; PROCESSING LOAN REQUESTS; UNDERWRITING; LOAN SERVICING; TECHNICAL ASSISTANCE AND CONSULTING FOR CLIENTS; AND RAISING AND SERVICING INVESTMENTS. OVER ITS LIFETIME, FCI HAS DISBURSED A LITTLE MORE THAN $106.8 MILLION TO BENEFIT ORGANIZATIONS AND INITIATIVES THROUGHOUT WISCONSIN. OVER THE YEARS, FCI'S LOANS HAVE CREATED OR SUSTAINED 2,659 UNITS OF AFFORDABLE HOUSING AND INDIRECTLY PROVIDED SERVICES TO MORE THAN 721,000 LOW-INCOME INDIVIDUALS. AND, THROUGH BUSINESS INCUBATION STRATEGIES AND EXPANDED COMMUNITY FACILITIES, FCI NONPROFIT BORROWERS HAVE CREATED OR RETAINED MORE THAN 6,870 JOBS FOR WISCONSIN RESIDENTS AND ADDED OVER 1,764 NEW DAYCARE SLOTS.SOME OF FCI'S ACCOMPLISHMENTS FOR COMMUNITY LENDING SERVICES IN 2024 INCLUDE:CLOSED 17 NEW AND REFINANCED LOANS TOTALING $4.6 MILLION IN TWO DIFFERENT COUNTIES. THE FUNDS WERE USED FOR COMMUNITY FACILITIES, AFFORDABLE HOUSING, WORKING CAPITAL AND LINES OF CREDIT. CLOSED JUST OVER $27 MILLION IN NEW MARKET TAX CREDIT TRANSACTION.FCI BORROWERS RECEIVED ONE-ON-ONE TECHNICAL ASSISTANCE AND ADVICE ON TOPICS RANGING FROM MANAGING CASH FLOW TO MONITORING CONSTRUCTION BUDGETS TO DEVELOPING MULTI-YEAR PROJECTIONS.
  2. $36,042 spent. COMMUNITY INVESTMENTS - ACTIVITIES INCLUDE PLANNING, IMPLEMENTATION AND OVERSIGHT OF THE ANNUAL GRANTS PROCESS; OVERSIGHT OF ANNUAL DISTRIBUTIONS FROM DONOR ADVISED FUNDS; DEVELOPING AND MAINTAINING GRANTEE AND STAKEHOLDER RELATIONSHIPS; AND PROCESSING AND SERVICING GRANT REQUESTS. THIS ALSO INCLUDES PROGRAMS FUNDED BY LARGER GRANTS THAT HAVE A PASS-THROUGH GRANT ASPECT TO THEM.SOME OF FCI'S ACCOMPLISHMENTS FOR COMMUNITY INVESTMENTS IN 2024 INCLUDE: AIDED DEPLOYMENT OF $500,000 IN GRANTS AS ADMINISTRATOR FOR RACINE DOMINICAN SISTERS TO ORGANIZATIONS IN WISCONSIN.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since May 1995.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.