Civic Intelligence

Forge Financing Ozark Rural Growth and Economy

990 • Fiscal year 2018 • EIN 71-0674001

Oct 01, 2017 to Sep 30, 2018 • Filed on May 02, 2019

Organization ProfileWWW.FORGEFUND.ORG
PO Box 1138Huntsville, AR 72740-1138

(479) 738-1585

Siviq Scores

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

Liabilities / Assets

86th percentile

0.77x

Higher debt load relative to assets than 86% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

96th percentile

9.59x

Higher debt load relative to revenue than 96% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

84th percentile

32%

Higher net margin than 84% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2018

Asset Growth

61st percentile

4.8%

Faster asset growth than 61% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

79th percentile

23%

Faster revenue growth than 79% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets86th percentile

Assets

Up

$7,211,168

Up $331,016 (+4.8%) from 2017

Net Assets

Up

$1,655,896

Up $186,081 (+13%) from 2017

Liabilities

Up

$5,555,272

Up $144,935 (+2.7%) from 2017

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin84th percentile

Revenue

Up

$579,068

Up $108,144 (+23%) from 2017

Expenses

Down

$392,987

Down $30,999 (-7.3%) from 2017

Net Income

Up

$186,081

Up $139,143 (+296%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth61st percentile

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

$15M$10M$5.0M$0Assets 2011: $2,013,038Liabilities 2011: $1,589,580Net Assets 2011: $423,4582011Assets 2012: $2,392,449Liabilities 2012: $1,927,539Net Assets 2012: $464,9102012Assets 2013: $3,519,251Liabilities 2013: $2,496,859Net Assets 2013: $1,022,3922013Assets 2014: $4,283,906Liabilities 2014: $3,235,923Net Assets 2014: $1,047,9832014Assets 2015: $4,576,488Liabilities 2015: $3,451,865Net Assets 2015: $1,124,6232015Assets 2016: $5,421,157Liabilities 2016: $3,998,280Net Assets 2016: $1,422,8772016Assets 2017: $6,880,152Liabilities 2017: $5,410,337Net Assets 2017: $1,469,8152017Assets 2018: $7,211,168Liabilities 2018: $5,555,272Net Assets 2018: $1,655,8962018Assets 2019: $8,005,319Liabilities 2019: $5,792,855Net Assets 2019: $2,212,4642019Assets 2020: $9,139,095Liabilities 2020: $6,202,743Net Assets 2020: $2,936,3522020Assets 2021: $10,015,357Liabilities 2021: $5,942,470Net Assets 2021: $4,072,8872021Assets 2022: $11,064,924Liabilities 2022: $6,654,515Net Assets 2022: $4,410,4092022Assets 2023: $12,877,023Liabilities 2023: $8,370,976Net Assets 2023: $4,506,0472023Assets 2024: $11,375,673Liabilities 2024: $7,719,131Net Assets 2024: $3,656,5422024

Highlighted filing

2018

Assets$7,211,168
Liabilities$5,555,272
Net Assets$1,655,896
Open 2018 Filing

Operations Trend

Revenue Growth79th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $286,738Expenses 2011: $172,485Net Income 2011: $114,2532011Revenue 2012: $237,597Expenses 2012: $196,145Net Income 2012: $41,4522012Revenue 2013: $815,627Expenses 2013: $258,145Net Income 2013: $557,4822013Revenue 2014: $309,648Expenses 2014: $284,057Net Income 2014: $25,5912014Revenue 2015: $354,074Expenses 2015: $277,434Net Income 2015: $76,6402015Revenue 2016: $611,920Expenses 2016: $313,656Net Income 2016: $298,2642016Revenue 2017: $470,924Expenses 2017: $423,986Net Income 2017: $46,9382017Revenue 2018: $579,068Expenses 2018: $392,987Net Income 2018: $186,0812018Revenue 2019: $1,384,909Expenses 2019: $712,002Net Income 2019: $672,9072019Revenue 2020: $1,553,352Expenses 2020: $821,269Net Income 2020: $732,0832020Revenue 2021: $2,246,755Expenses 2021: $1,110,220Net Income 2021: $1,136,5352021Revenue 2022: $1,965,897Expenses 2022: $1,628,375Net Income 2022: $337,5222022Revenue 2023: $2,241,893Expenses 2023: $2,146,255Net Income 2023: $95,6382023Revenue 2024: $1,468,312Expenses 2024: $2,289,190Net Income 2024: -$820,8782024

Highlighted filing

2018

Revenue$579,068
Expenses$392,987
Net Income$186,081
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2017 to Sep 30, 2018
Signed
May 2, 2019
Return Version
2017v2.3
Gross Receipts
$579,068
Mission and Program Overview

Mission

To assist in long term economic growth and revitalization of rural communities and farm related enterprises in the ozark region of arkansas, missouri, and oklahoma.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$4,405,809$4,463,083▲ $57,274
Cash and Non-Interest-Bearing Accounts$2,077,598$2,259,725▲ $182,127
Land, Buildings, and Equipment, Net$259,286$252,693▼ $6,593
Pledges and Grants Receivable$120,178$216,439▲ $96,261
Prepaid Expenses and Deferred Charges$935$2,077▲ $1,142
Total Assets$6,880,152$7,211,168▲ $331,016
Other Assets Total$16,346$17,151▲ $805
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,376,878$4,373,618▼ $3,260
Other Liabilities$995,592$1,139,011▲ $143,419
Accounts Payable and Accrued Expenses$37,867$42,643▲ $4,776
Total Liabilities$5,410,337$5,555,272▲ $144,935
Net Assets / Fund Balance
Unrestricted Net Assets$788,709$978,130▲ $189,421
Temporarily Rstr Net Assets$681,106$677,766▼ $3,340
Total Net Assets Fund Balance$1,469,815$1,655,896▲ $186,081
Total Liabilities and Net Assets / Fund Balance$6,880,152$7,211,168▲ $331,016

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$189,391$7,805$197,196
Land$55,000-$55,000
Equipment$8,302$15,096$23,398
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Bob PenquitePresident
Bill FoxDirector
Charlie StocktonDirector
Daniel RaineyDirector
Jessica FrittsDirector
Mark NelsonDirector
Mary SanchezDirector
Philip AdamsDirector
Rebecca LynnSecretary/tr
James MorganVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$283,350
Program Service Revenue
$0
Investment Income
$272,939
Other Revenue
$22,779
Change in Net Assets
$186,081

Audited Revenue Reconciliation

Revenue per Audited Statements
$579,068
Total Revenue per Audited Statements
$579,068
Total Revenue per Form 990
$579,068
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$199,218
Salaries, Compensation, and Employee Benefits$193,769
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$148,262$16,474-$164,736
Interest$53,478--$53,478
Office Expenses$28,654$3,511-$32,165
Fees for Services Accounting$11,974$3,992-$15,966
Payroll Taxes$13,294$1,477-$14,771
Other Employee Benefits$12,836$1,426-$14,262
Travel$7,405--$7,405
Occupancy$6,188$687-$6,875
Depreciation Depletion$5,934$659-$6,593
Advertising$5,545--$5,545
Fees for Services Other$4,675--$4,675
Insurance$2,878$320-$3,198
Other Expenses$3,178--$3,178
Total Functional Expenses$364,441$28,546$0$392,987

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$392,987
Total Expenses per Audited Statements$392,987
Total Expenses per Form 990$392,987
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
Investor Deposits$1,139,011
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 7A

“Members elect individuals at the annual meeting to fill vacancies on the board of trustees.”

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

“Complete copy of form 990 and all schedules was emailed to board members prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“The forge board and staff actively monitor possible conflicts of interest. As stated in the forge by-laws and personnel policy manual, it is the responsibility of staff members and board members to divulge any financial interest that they may have in the loan approval or investor acceptance process. Possible conflicts of interest are discussed at the quarterly forge board of trustee meetings when the forge board of trustees reviews and approves all new loans, reiviews the loan portfolio, internal financial reports, and examines loan committee reports.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Forge Inc
EIN
71-0674001
Phone
4797381585
Address
PO BOX 1138, HUNTSVILLE, AR 72740-1138

Signing Officer

Name
Cj Sentell
Title
Executive Director
Phone
4797381585
Signed
2019-05-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bob Penquite
Formed
1988
Legal Domicile
Ar
Voting Board Members
10
Independent Board Members
10
Employees
5

Preparer

Firm
Przybysz & Associates Cpas Pc
Address
4200 JENNY LIND RD STE B, FORT SMITH, AR 72901
Preparer
Marc Lux CPA
Phone
4796490888
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“Generally accepted accounting principles require tax effects from an uncertain tax position to be recognized in the financial statements only if the position is more likely than not to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may be challenged. If an uncertain tax position meets the more-likely-than-not threshold, the largest amount of tax benefit that is greater than 50% likely to be recognized upon ultimate settlement with the taxing authority is recorded. The organization's primary tax positions relate to its status as a not-for-profit entity exempt from income taxes and classification of activities related to its exempt purpose. The organization has analyzed its tax positions taken for filings with the internal revenue service. It believes that its filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse effect on its financial condition, results of operations, or cash flows. The organization's tax years for 2015, 2016 and 2017 are subject to examination by the internal revenue service as of september 30, 2018.”

Raw XML AppendixShowing 400 of 424 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/SupplementalInformationDetail/ExplanationTxt0GENERALLY ACCEPTED ACCOUNTING PRINCIPLES REQUIRE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS ONLY IF THE POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. IF AN UNCERTAIN TAX POSITION MEETS THE MORE-LIKELY-THAN-NOT THRESHOLD, THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY TO BE RECOGNIZED UPON ULTIMATE SETTLEMENT WITH THE TAXING AUTHORITY IS RECORDED. THE ORGANIZATION'S PRIMARY TAX POSITIONS RELATE TO ITS STATUS AS A NOT-FOR-PROFIT ENTITY EXEMPT FROM INCOME TAXES AND CLASSIFICATION OF ACTIVITIES RELATED TO ITS EXEMPT PURPOSE. THE ORGANIZATION HAS ANALYZED ITS TAX POSITIONS TAKEN FOR FILINGS WITH THE INTERNAL REVENUE SERVICE. IT BELIEVES THAT ITS FILING POSITIONS WILL BE SUSTAINED UPON EXAMINATION AND DOES NOT ANTICIPATE ANY ADJUSTMENTS THAT WOULD RESULT IN A MATERIAL ADVERSE EFFECT ON ITS FINANCIAL CONDITION, RESULTS OF OPERATIONS, OR CASH FLOWS. THE ORGANIZATION'S TAX YEARS FOR 2015, 2016 AND 2017 ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AS OF SEPTEMBER 30, 2018.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalExpensesPerForm990Amt0392987
IRS990ScheduleD/TotalLiabilityAmt01139011
IRS990ScheduleD/TotalRevenuePerForm990Amt0579068
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0579068
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MEMBERS ELECT INDIVIDUALS AT THE ANNUAL MEETING TO FILL VACANCIES ON THE BOARD OF TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COMPLETE COPY OF FORM 990 AND ALL SCHEDULES WAS EMAILED TO BOARD MEMBERS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORGE BOARD AND STAFF ACTIVELY MONITOR POSSIBLE CONFLICTS OF INTEREST. AS STATED IN THE FORGE BY-LAWS AND PERSONNEL POLICY MANUAL, IT IS THE RESPONSIBILITY OF STAFF MEMBERS AND BOARD MEMBERS TO DIVULGE ANY FINANCIAL INTEREST THAT THEY MAY HAVE IN THE LOAN APPROVAL OR INVESTOR ACCEPTANCE PROCESS. POSSIBLE CONFLICTS OF INTEREST ARE DISCUSSED AT THE QUARTERLY FORGE BOARD OF TRUSTEE MEETINGS WHEN THE FORGE BOARD OF TRUSTEES REVIEWS AND APPROVES ALL NEW LOANS, REIVIEWS THE LOAN PORTFOLIO, INTERNAL FINANCIAL REPORTS, AND EXAMINES LOAN COMMITTEE REPORTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BusinessOfficerGrp/PersonNm0CJ SENTELL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum04797381585
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-05-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FORGE INC
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Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,211,168
Liabilities
$5,555,272
Net assets
$1,655,896
Revenue
$579,068
Expenses
$392,987
Net income
$186,081
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$11.4$7.72$3.66$1.47$2.29$0.82
2023Detailed filing. Detailed filing data is available for this year.$12.9$8.37$4.51$2.24$2.15$0.10
2022Detailed filing. Detailed filing data is available for this year.$11.1$6.65$4.41$1.97$1.63$0.34
2021Detailed filing. Detailed filing data is available for this year.$10.0$5.94$4.07$2.25$1.11$1.14
2020Detailed filing. Detailed filing data is available for this year.$9.14$6.20$2.94$1.55$0.82$0.73
2019Detailed filing. Detailed filing data is available for this year.$8.01$5.79$2.21$1.38$0.71$0.67
2018Detailed filing. Detailed filing data is available for this year.$7.21$5.56$1.66$0.58$0.39$0.19
2017Detailed filing. Detailed filing data is available for this year.$6.88$5.41$1.47$0.47$0.42$0.05
2016Detailed filing. Detailed filing data is available for this year.$5.42$4.00$1.42$0.61$0.31$0.30
2015Detailed filing. Detailed filing data is available for this year.$4.58$3.45$1.12$0.35$0.28$0.08
2014Detailed filing. Detailed filing data is available for this year.$4.28$3.24$1.05$0.31$0.28$0.03
2013Summary only. Only limited summary data is available for this year.$3.52$2.50$1.02$0.82$0.26$0.56
2012Summary only. Only limited summary data is available for this year.$2.39$1.93$0.46$0.24$0.20$0.04
2011Summary only. Only limited summary data is available for this year.$2.01$1.59$0.42$0.29$0.17$0.11