Forefront

“In september 2021, the organization amended and restated its by-laws. Key updates included: adding a new organizational purpose to foster innovation and entrepreneurship and to provide support, training, and fiscal sponsorship to mission-driven organizations; adjusting the members' quorum requirement to five percent; revising the size of the board of directors to a range of 20-25 directors and setting the board quorum at one-half of directors in office; streamlining meeting and voting procedures while retaining elections by written/electronic ballot; and restructuring board committees by consolidating responsibilities and eliminating the compensation & benefits committee.”

“Any organization or individual which subscribes to the purposes and basic policies and contributes annual financial support to the continuing operation of this corporation in the amount determined from time to time by the board of directors, may become a member of this corporation.”

“Each member shall be entitled to one vote on each matter submitted to a vote of the members.”

“With the assistance of the chief financial officer, outside accountants prepare the 990. The chief financial officer reviews a draft of the 990 and compares numbers to audited financial statements. The forefront president & ceo and the chief financial officer review the draft with the audit/finance committee members at a scheduled meeting. The draft is provided to the entire board for review. The board is invited to a conference call to ask questions and offer comments to the president and ceo and the chief financial officer.”

“The organization identifies each board member and employee with a stated conflict of interest or potential and maintains a list of the stated conflicts / potential conflicts.”

“Ceo: president's performance review committee: consists of the following board members - board chair, audit/finance committee chair, and treasurer. Comparability data obtained from other regional associations of grantmakers and from other nonprofit organizations. Annual decision process is substantiated in writing. Committee makes recommendation to board. Top management and all other employees: ceo and chief financial officer present salary pool recommendation to audit/finance committee based on change in cpi, organization's financial situation, and other relevant information.”

“Public disclosure of 1023 - the organization is not required to make its 1023 application available to the general public as it was formed prior to 07/15/1987.”

“Recent audited financial statements are available on the illinois attorney general's website. Governing documents and conflict of interest policy are not available to the general public.”

“Forefront ceased conducting their entrepreneurship leadership development institute (edli) program.”

“Program consultants: program service expenses 797,458. Management and general expenses 323,618. Fundraising expenses 6,949. Total expenses 1,128,025. Hr: program service expenses 85,656. Management and general expenses 34,760. Fundraising expenses 746. Total expenses 121,162. Other fees for services: program service expenses 41,276. Management and general expenses 16,751. Fundraising expenses 360. Total expenses 58,387.”

“Contribution revenue net present value adjustment -135,148. Bad debt -5,063.”