Civic Intelligence

Forrest Spence Fund

990 • Fiscal year 2022 • EIN 27-0151429

Jan 01, 2022 to Dec 31, 2022 • Filed on Jun 22, 2023

Organization ProfileFORRESTSPENCEFUND.ORG
3092 Poplar Avenue Suite 15Memphis, TN 38111

(901) 421-6909

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

33rd percentile

0.01x

Higher debt load relative to assets than 33% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

36th percentile

0.03x

Higher debt load relative to revenue than 36% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

26th percentile

-4.8%

Higher net margin than 26% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

41st percentile

-1.5%

Faster asset growth than 41% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

13th percentile

-31%

Faster revenue growth than 13% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets33rd percentile

Assets

Down

$1,436,906

Down $21,941 (-1.5%) from 2021

Net Assets

Down

$1,417,627

Down $27,317 (-1.9%) from 2021

Liabilities

Up

$19,279

Up $5,376 (+39%) from 2021

Revenue And Expenses
Liabilities / Revenue36th percentileNet Margin26th percentile

Revenue

Down

$574,565

Down $255,342 (-31%) from 2021

Expenses

Up

$601,882

Up $140,309 (+30%) from 2021

Net Income

Down

-$27,317

Down $395,651 (-107%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth41st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2010: $61,304Liabilities 2010: $0Net Assets 2010: $61,3042010Assets 2011: $55,684Liabilities 2011: $0Net Assets 2011: $55,6842011Assets 2013: $209,606Net Assets 2013: $209,6062013Assets 2015: $406,386Liabilities 2015: $0Net Assets 2015: $406,3862015Assets 2016: $575,330Liabilities 2016: $0Net Assets 2016: $575,3302016Assets 2017: $751,731Liabilities 2017: $0Net Assets 2017: $751,7312017Assets 2018: $830,654Liabilities 2018: $0Net Assets 2018: $830,6542018Assets 2019: $1,000,208Liabilities 2019: $4,249Net Assets 2019: $995,9592019Assets 2020: $1,102,689Liabilities 2020: $26,079Net Assets 2020: $1,076,6102020Assets 2021: $1,458,847Liabilities 2021: $13,903Net Assets 2021: $1,444,9442021Assets 2022: $1,436,906Liabilities 2022: $19,279Net Assets 2022: $1,417,6272022Assets 2024: $1,888,673Liabilities 2024: $192,979Net Assets 2024: $1,695,6942024

Highlighted filing

2022

Assets$1,436,906
Liabilities$19,279
Net Assets$1,417,627
Open 2022 Filing

Operations Trend

Revenue Growth13th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2010: $56,477Expenses 2010: $20,360Net Income 2010: $36,1172010Revenue 2011: $69,293Expenses 2011: $74,913Net Income 2011: -$5,6202011Revenue 2013: $115,850Expenses 2013: $64,491Net Income 2013: $51,3592013Revenue 2015: $210,329Expenses 2015: $115,495Net Income 2015: $94,8342015Revenue 2016: $333,803Expenses 2016: $164,859Net Income 2016: $168,9442016Revenue 2017: $390,560Expenses 2017: $214,159Net Income 2017: $176,4012017Revenue 2018: $417,871Expenses 2018: $338,948Net Income 2018: $78,9232018Revenue 2019: $622,001Expenses 2019: $451,593Net Income 2019: $170,4082019Revenue 2020: $520,216Expenses 2020: $439,565Net Income 2020: $80,6512020Revenue 2021: $829,907Expenses 2021: $461,573Net Income 2021: $368,3342021Revenue 2022: $574,565Expenses 2022: $601,882Net Income 2022: -$27,3172022Revenue 2024: $878,865Expenses 2024: $704,073Net Income 2024: $174,7922024

Highlighted filing

2022

Revenue$574,565
Expenses$601,882
Net Income-$27,317
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jun 22, 2023
Return Version
2022v5.0
Gross Receipts
$574,565
Mission and Program Overview

Mission

Nonmedical needs of ill children

Assist with nonmedical needds of critically or chronically ill children and their families throughout the midsouth.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$795,484$1,176,604▲ $381,120
Cash and Non-Interest-Bearing Accounts$643,207$247,904▼ $395,303
Prepaid Expenses and Deferred Charges$17,879$11,695▼ $6,184
Land, Buildings, and Equipment, Net$2,277$703▼ $1,574
Total Assets$1,458,847$1,436,906▼ $21,941
Liabilities
Accounts Payable and Accrued Expenses$13,903$19,279▲ $5,376
Total Liabilities$13,903$19,279▲ $5,376
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,290,846$1,417,627▲ $126,781
Net Assets With Donor Restrictions$154,098--
Total Net Assets Fund Balance$1,444,944$1,417,627▼ $27,317
Total Liabilities and Net Assets / Fund Balance$1,458,847$1,436,906▼ $21,941

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$703$8,268$8,971
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
David SpencePresident
William MartinDirector
Brittany SpenceExecutive Di
Leah GreeneSecretary
Gregg SmithTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$664,347
Program Service Revenue
$0
Investment Income
$-89,782
Other Revenue
$0
All Other Contributions
$664,347
Change in Net Assets
$-27,317

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table1$44,861
Total Noncash Contributions1$44,861

Audited Revenue Reconciliation

Revenue per Audited Statements
$574,565
Total Revenue per Audited Statements
$574,565
Total Revenue per Form 990
$574,565
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$279,808
Other Expenses$235,978
Total Fundraising Expense$159,199
Salaries, Compensation, and Employee Benefits$86,096
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$143,317--$143,317
Grants to Domestic Orgs$136,491--$136,491
Other Salaries and Wages$77,369$6,399$2,328$86,096
All Other Expenses-$8,508$34,063$42,571
Fees for Services Accounting-$32,639-$32,639
Office Expenses-$5,441$13,672$19,113
Occupancy-$17,408-$17,408
Other Expenses--$14,851$14,851
Insurance-$13,352-$13,352
Fees for Services Other-$185$10,140$10,325
Depreciation Depletion-$1,574-$1,574
Total Functional Expenses$357,177$85,506$159,199$601,882

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$601,882
Total Expenses per Audited Statements$601,882
Total Expenses per Form 990$601,882
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Grants---$136,491
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI

“Pt vi, line 2: david spence and brittany spence are married pt vi, line 11b: form is reviwed by the directors available to public governing documents available to the public”

Form 990, Page 6, Part VI, Line 2

“David spence spouse brittany spence spouse”

Form 990, Page 6, Part VI, Line 11B

“Independent audited financial statements”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Forrest Spence Fund
EIN
27-0151429
Phone
9014216909
Address
3092 POPLAR AVENUE SUITE 15, MEMPHIS, TN 38111

Signing Officer

Name
Brittany Spence
Title
Executive Director
Phone
9017633259
Signed
2023-06-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brittany Spence
Voting Board Members
4
Independent Board Members
4
Employees
4
Volunteers
750

Preparer

Firm
Scott & Pohlman Pc
Address
5100 POPLAR AVENUE SUITE 617, MEMPHIS, TN 38137-0601
Preparer
Richard a Blount Jr
Phone
9017614692
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“1”

Raw XML Appendix364 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PT VI, LINE 2: DAVID SPENCE AND BRITTANY SPENCE ARE MARRIED PT VI, LINE 11B: FORM IS REVIWED BY THE DIRECTORS AVAILABLE TO PUBLIC GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DAVID SPENCE SPOUSE BRITTANY SPENCE SPOUSE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3INDEPENDENT AUDITED FINANCIAL STATEMENTS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BRITTANY SPENCE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09017633259
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-06-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FORREST SPENCE FUND
ReturnHeader/Filer/BusinessNameControlTxt0FORR
ReturnHeader/Filer/EIN0270151429
ReturnHeader/Filer/PhoneNum09014216909
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0621518664
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SCOTT & POHLMAN PC
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MEMPHIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0381370601
ReturnHeader/PreparerPersonGrp/PhoneNum09017614692
ReturnHeader/PreparerPersonGrp/PreparationDt02023-06-23
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RICHARD A BLOUNT JR
ReturnHeader/ReturnTs02023-06-29T16:08:57-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0BRITTANY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SPENCE
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,436,906
Liabilities
$19,279
Net assets
$1,417,627
Revenue
$574,565
Expenses
$601,882
Net income
-$27,317
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.89$0.19$1.70$0.88$0.70$0.17
2022Detailed filing. Detailed filing data is available for this year.$1.44$0.02$1.42$0.57$0.60$0.03
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.46$0.01$1.44$0.83$0.46$0.37
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.10$0.03$1.08$0.52$0.44$0.08
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.00$0.00$1.00$0.62$0.45$0.17
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.83$0.00$0.83$0.42$0.34$0.08
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.75$0.00$0.75$0.39$0.21$0.18
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.58$0.00$0.58$0.33$0.16$0.17
2015Detailed filing. Detailed filing data is available for this year.$0.41$0.00$0.41$0.21$0.12$0.09
2013Detailed filing. Detailed filing data is available for this year.$0.21$0.21$0.12$0.06$0.05
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.06$0.00$0.06$0.07$0.07$0.01
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.06$0.00$0.06$0.06$0.02$0.04