Civic Intelligence

Forrest Spence Fund

990 • Fiscal year 2023 • EIN 27-0151429

Jan 01, 2023 to Dec 31, 2023 • Filed on Jun 29, 2024

Organization ProfileFORRESTSPENCEFUND.ORG
2112 Court AvenueMemphis, TN 38104

(901) 421-6909

Siviq Scores

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

Liabilities / Assets

58th percentile

0.12x

Higher debt load relative to assets than 58% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

67th percentile

0.22x

Higher debt load relative to revenue than 67% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

64th percentile

12%

Higher net margin than 64% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

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.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

76th percentile

20%

Faster asset growth than 76% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

85th percentile

56%

Faster revenue growth than 85% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets58th percentile

Assets

Up

$1,720,894

Up $283,988 (+20%) from 2022

Net Assets

Up

$1,520,902

Up $103,275 (+7.3%) from 2022

Liabilities

Up

$199,992

Up $180,713 (+937%) from 2022

Revenue And Expenses
Liabilities / Revenue67th percentileNet Margin64th percentile

Revenue

Up

$895,238

Up $320,673 (+56%) from 2022

Expenses

Up

$791,963

Up $190,081 (+32%) from 2022

Net Income

Up

$103,275

Up $130,592 (+478%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth76th 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 2023: $1,720,894Liabilities 2023: $199,992Net Assets 2023: $1,520,9022023Assets 2024: $1,888,673Liabilities 2024: $192,979Net Assets 2024: $1,695,6942024

Highlighted filing

2023

Assets$1,720,894
Liabilities$199,992
Net Assets$1,520,902
Open 2023 Filing

Operations Trend

Revenue Growth85th 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 2023: $895,238Expenses 2023: $791,963Net Income 2023: $103,2752023Revenue 2024: $878,865Expenses 2024: $704,073Net Income 2024: $174,7922024

Highlighted filing

2023

Revenue$895,238
Expenses$791,963
Net Income$103,275
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jun 29, 2024
Return Version
2023v5.0
Gross Receipts
$895,238
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$1,176,604$1,091,605▼ $84,999
Land, Buildings, and Equipment, Net$703$355,331▲ $354,628
Cash and Non-Interest-Bearing Accounts$247,904$260,746▲ $12,842
Prepaid Expenses and Deferred Charges$11,695$9,073▼ $2,622
Intangible Assets-$4,139-
Total Assets$1,436,906$1,720,894▲ $283,988
Liabilities
Other Liabilities-$170,950-
Accounts Payable and Accrued Expenses$19,279$29,042▲ $9,763
Total Liabilities$19,279$199,992▲ $180,713
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,204,831$1,520,902▲ $316,071
Net Assets With Donor Restrictions$212,796--
Total Net Assets Fund Balance$1,417,627$1,520,902▲ $103,275
Total Liabilities and Net Assets / Fund Balance$1,436,906$1,720,894▲ $283,988

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$271,753$13,640$285,393
Land$83,578-$83,578
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
$782,466
Program Service Revenue
$0
Investment Income
$112,772
Other Revenue
$0
All Other Contributions
$346,280
Change in Net Assets
$103,275

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$91,913
Total Noncash Contributions1$91,913

Audited Revenue Reconciliation

Revenue per Audited Statements
$895,238
Total Revenue per Audited Statements
$895,238
Total Revenue per Form 990
$895,238
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$383,899
Grants and Similar Amounts Paid$290,931
Total Fundraising Expense$242,215
Salaries, Compensation, and Employee Benefits$117,133
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$290,931--$290,931
Other Salaries and Wages$90,221$26,912-$117,133
All Other Expenses$9,489$4,734$58,497$72,720
Fees for Services Accounting-$33,446-$33,446
Office Expenses-$7,255$24,832$32,087
Other Expenses$45,753-$26,934$26,934
Occupancy-$19,559-$19,559
Fees for Services Other--$10,002$10,002
Insurance-$7,727-$7,727
Interest$7,619--$7,619
Depreciation Depletion$5,750$352-$6,102
Total Functional Expenses$449,763$99,985$242,215$791,963

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$791,963
Total Expenses per Audited Statements$791,963
Total Expenses per Form 990$791,963
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Long Term Debt$170,950
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
2112 COURT AVENUE, MEMPHIS, TN 38104

Signing Officer

Name
Brittany Spence
Title
Executive Director
Phone
9017633259
Signed
2024-06-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brittany Spence
Voting Board Members
4
Independent Board Members
4
Employees
2
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 Appendix362 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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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0791963
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0290931
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0INDIVIDUALS
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt01
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd0X
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt091913
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0false
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/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0TN
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01436906
IRS990/TotalAssetsEOYAmt01720894
IRS990/TotalAssetsGrp/BOYAmt01436906
IRS990/TotalAssetsGrp/EOYAmt01720894
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0782466
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0242215
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt099985
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0449763
IRS990/TotalFunctionalExpensesGrp/TotalAmt0791963
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt019279
IRS990/TotalLiabilitiesEOYAmt0199992
IRS990/TotalLiabilitiesGrp/BOYAmt019279
IRS990/TotalLiabilitiesGrp/EOYAmt0199992
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01417627
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01520902
IRS990/TotalOtherProgSrvcExpenseAmt0296681
IRS990/TotalOtherProgSrvcGrantAmt0290931
IRS990/TotalProgramServiceExpensesAmt0449763
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0112772
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0895238
IRS990/TotalVolunteersCnt0750
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01436906
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01720894
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0MEMPHIS
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd038111
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0HTTPS://FORRESTSPENCEFUND.ORG/
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/SignatureDt02024-06-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FORREST SPENCE FUND
ReturnHeader/Filer/BusinessNameControlTxt0FORR
ReturnHeader/Filer/EIN0270151429
ReturnHeader/Filer/PhoneNum09014216909
ReturnHeader/Filer/USAddress/AddressLine1Txt02112 COURT AVENUE
ReturnHeader/Filer/USAddress/CityNm0MEMPHIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TN
ReturnHeader/Filer/USAddress/ZIPCd038104
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0621518664
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SCOTT & POHLMAN PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05100 POPLAR AVENUE SUITE 617
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MEMPHIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0381370601
ReturnHeader/PreparerPersonGrp/PhoneNum09017614692
ReturnHeader/PreparerPersonGrp/PreparationDt02024-06-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RICHARD A BLOUNT JR
ReturnHeader/ReturnTs02024-07-09T11:52:51-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0BRITTANY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SPENCE
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,720,894
Liabilities
$199,992
Net assets
$1,520,902
Revenue
$895,238
Expenses
$791,963
Net income
$103,275
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
2023Detailed filing. Detailed filing data is available for this year.$1.72$0.20$1.52$0.90$0.79$0.10
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$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