Civic Intelligence

Forge Financing Ozark Rural Growth and Economy

990 • Fiscal year 2025 • EIN 71-0674001

Oct 01, 2024 to Sep 30, 2025

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

84th percentile

0.63x

Higher debt load relative to assets than 84% of similar nonprofits.

2025 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2025

Liabilities / Revenue

95th percentile

3.75x

Higher debt load relative to revenue than 95% of similar nonprofits.

2025 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2025

Net Margin

61st percentile

9.8%

Higher net margin than 61% of similar nonprofits.

2025 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2025

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

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

2025 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2025

Asset Growth

8th percentile

-9.5%

Faster asset growth than 8% of similar nonprofits.

2025 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2024 to 2025

Revenue Growth

72nd percentile

18%

Faster revenue growth than 72% of similar nonprofits.

2025 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets84th percentile

Assets

Down

$10,296,262

Down $1,079,411 (-9.5%) from 2024

Net Assets

Up

$3,797,148

Up $140,606 (+3.8%) from 2024

Liabilities

Down

$6,499,114

Down $1,220,017 (-16%) from 2024

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin61st percentile

Revenue

Up

$1,731,844

Up $263,532 (+18%) from 2024

Expenses

Down

$1,561,806

Down $727,384 (-32%) from 2024

Net Income

Up

$170,038

Up $990,916 (+121%) from 2024

Historical Trend

Balance Sheet Trend

Asset Growth8th 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: $3,656,5422024Assets 2025: $10,296,262Liabilities 2025: $6,499,114Net Assets 2025: $3,797,1482025

Highlighted filing

2025

Assets$10,296,262
Liabilities$6,499,114
Net Assets$3,797,148
Open 2025 Filing

Operations Trend

Revenue Growth72nd 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: -$820,8782024Revenue 2025: $1,731,844Expenses 2025: $1,561,806Net Income 2025: $170,0382025

Highlighted filing

2025

Revenue$1,731,844
Expenses$1,561,806
Net Income$170,038
Open 2025 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2024 to Sep 30, 2025
Signed
Apr 15, 2026
Return Version
2024v5.0
Gross Receipts
$1,731,844
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, oklahoma, and louisiana.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$6,366,617$5,157,449▼ $1,209,168
Cash and Non-Interest-Bearing Accounts$4,245,915$4,625,896▲ $379,981
Land, Buildings, and Equipment, Net$218,237$211,074▼ $7,163
Pledges and Grants Receivable$382,078$181,255▼ $200,823
Prepaid Expenses and Deferred Charges$13,940$16,282▲ $2,342
Total Assets$11,375,673$10,296,262▼ $1,079,411
Other Assets Total$148,886$104,306▼ $44,580
Liabilities
Mortgage Notes Payable Secured by Investment Property$6,458,456$5,319,851▼ $1,138,605
Other Liabilities$1,125,022$1,079,514▼ $45,508
Accounts Payable and Accrued Expenses$135,653$99,749▼ $35,904
Total Liabilities$7,719,131$6,499,114▼ $1,220,017
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,006,502$3,727,220▲ $720,718
Net Assets With Donor Restrictions$650,040$69,928▼ $580,112
Total Net Assets Fund Balance$3,656,542$3,797,148▲ $140,606
Total Liabilities and Net Assets / Fund Balance$11,375,673$10,296,262▼ $1,079,411

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$154,881$42,315$197,196
Land$55,000-$55,000
Equipment$1,193$34,786$35,979
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
James MorganPresident
Greg ModicaDirector
Herb CulverDirector
Mary SanchezDirector
Jessica FrittsSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$1,317,231
Program Service Revenue
$17,404
Investment Income
$397,209
Other Revenue
$0
All Other Contributions
$495,749
Change in Net Assets
$170,038

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,731,844
Revenue Not Reported on Form 990
$-29,432
Total Revenue per Audited Statements
$1,702,412
Total Revenue per Form 990
$1,731,844
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$885,396
Other Expenses$676,410
Total Fundraising Expense$65,736
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$526,782$110,926$36,625$674,333
Other Employee Benefits$121,692$25,625$8,461$155,778
Interest$86,693--$86,693
Payroll Taxes$43,188$9,094$3,003$55,285
Information Technology$28,572$6,017$1,987$36,576
Fees for Services Accounting-$35,204-$35,204
Occupancy$13,353$5,610$1,157$20,120
Insurance-$20,113-$20,113
All Other Expenses$1,368$14,283-$15,651
Other Expenses$11,440$5,000-$11,440
Office Expenses$8,338$1,755$580$10,673
Depreciation Depletion-$7,163-$7,163
Fees for Services Other-$124$7,013$7,137
Advertising--$6,910$6,910
Conferences and Meetings$2,889$2,530-$5,419
Total Functional Expenses$1,252,626$243,444$65,736$1,561,806

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,561,806
Total Expenses per Audited Statements$1,561,806
Total Expenses per Form 990$1,561,806
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Herbert Culver IiiTrusteeDebt Service PaymentNo$13,314
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Investor Deposits$1,079,514
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
Yes
Business relationship with organization members
Yes
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“MEMBERS”

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

“YES, MEMBERS”

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

“YES”

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

“Complete copy of form 990 and all schedules were 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

“AVAILABLE UPON REQUEST.”

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
James Morgan
Title
President
Phone
4797381585
Signed
2026-04-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Morgan
Formed
1988
Legal Domicile
Ar
Voting Board Members
5
Independent Board Members
5
Employees
12

Preparer

Firm
Prz Cpas & Advisors
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

“The organization follows the guidance of the accounting standards codification (asc) 740, accounting for income taxes, related to uncertainties in income taxes, which prescribes a threshold of more likely than not for recognition and derecognition of positions taken or expected to be taken in a tax return. For the year ended september 30, 2025, management of the organization is not aware of any material uncertain tax positions. All tax exempt entities are subject to review and audit by federal, state and other applicable agencies. Such agencies may review the taxability of unrelated business income, or the qualification of the tax-exempt entity under the internal revenue code and applicable state statues. For federal tax purposes, the tax returns remain open for possible examination for a period of three years after the respective filing deadlines of those returns.”

Raw XML AppendixShowing 400 of 420 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/BuildingsGrp/DepreciationAmt042315
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IRS990ScheduleD/EquipmentGrp/BookValueAmt01193
IRS990ScheduleD/EquipmentGrp/DepreciationAmt034786
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IRS990ScheduleD/ExpensesSubtotalAmt01561806
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt055000
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-29432
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01079514
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0INVESTOR DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt0-29432
IRS990ScheduleD/RevenueSubtotalAmt01731844
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION FOLLOWS THE GUIDANCE OF THE ACCOUNTING STANDARDS CODIFICATION (ASC) 740, ACCOUNTING FOR INCOME TAXES, RELATED TO UNCERTAINTIES IN INCOME TAXES, WHICH PRESCRIBES A THRESHOLD OF MORE LIKELY THAN NOT FOR RECOGNITION AND DERECOGNITION OF POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. FOR THE YEAR ENDED SEPTEMBER 30, 2025, MANAGEMENT OF THE ORGANIZATION IS NOT AWARE OF ANY MATERIAL UNCERTAIN TAX POSITIONS. ALL TAX EXEMPT ENTITIES ARE SUBJECT TO REVIEW AND AUDIT BY FEDERAL, STATE AND OTHER APPLICABLE AGENCIES. SUCH AGENCIES MAY REVIEW THE TAXABILITY OF UNRELATED BUSINESS INCOME, OR THE QUALIFICATION OF THE TAX-EXEMPT ENTITY UNDER THE INTERNAL REVENUE CODE AND APPLICABLE STATE STATUES. FOR FEDERAL TAX PURPOSES, THE TAX RETURNS REMAIN OPEN FOR POSSIBLE EXAMINATION FOR A PERIOD OF THREE YEARS AFTER THE RESPECTIVE FILING DEADLINES OF THOSE RETURNS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0HERBERT CULVER III
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0TRUSTEE
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1YES, MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2YES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPLETE COPY OF FORM 990 AND ALL SCHEDULES WERE EMAILED TO BOARD MEMBERS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE 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/ExplanationTxt5AVAILABLE UPON REQUEST.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7B
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ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES MORGAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum04797381585
ReturnHeader/BusinessOfficerGrp/SignatureDt02026-04-15
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ReturnHeader/Filer/EIN0710674001

Document Assets

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Filings

Displayed year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,296,262
Liabilities
$6,499,114
Net assets
$3,797,148
Revenue
$1,731,844
Expenses
$1,561,806
Net income
$170,038
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$10.3$6.50$3.80$1.73$1.56$0.17
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