2021-10-11T08:32:57-05:00 2020-12-31 561445619 NEAL BRADSHER & TAYLOR PA 4721 EMPEROR BOULEVARD SUITE 130 DURHAM NC 27703 990 2020-01-01 134302280 FORWARD CITIES INC FORW 9199284480 PO BOX 2008 DURHAM NC 27702 FAY HORWITT PRESIDENT & CEO 9199284480 2021-09-28 1 FAY HORWITT 999009999 MICHAEL CLONCH P01380043 9194893369 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z FAY HORWITT PO BOX 2008 DURHAM NC 27702 2482768 0 X FORWARDCITIES.ORG X 2005 NC TO CREATE OPPORTUNITIES FOR SHARED PROSPERITY THROUGH INCLUSIVE AND EQUITABLE ENTREPENEURIAL ECOSYSTEM DEVELOPMENT. 10 9 27 0 0 0 2273229 1787331 505396 612127 0 0 0 83310 2778625 2482768 0 0 0 0 1542764 1839705 0 0 0 822002 843425 2364766 2683130 413859 -200362 1137143 889550 155683 108452 981460 781098 TO CREATE OPPORTUNITIES FOR SHARED PROSPERITY THROUGH INCLUSIVE AND EQUITABLE ENTREPRENEURIAL ECOSYSTEM DEVELOPMENT. 0 0 728430 515394 COMMUNITY ENTREPRENEURSHIP ACCELERATORS (CEA): THE COMMUNITY ENTREPRENEURSHIP ACCELERATORS, WHICH WAS LAUNCHED IN 2019, BEGAN IN EARNEST IN 2018 WITH THE SELECTION OF PARTICIPATING CITIES, HIRING ON THE GROUND LOCAL DIRECTORS, AND BUILDING THE PROGRAM FOR SUCCESS. THE CEA PROGRAM IS DEVELOPED TO ACHIEVE SHORT-TERM OUTCOMES TO LAY THE FOUNDATION FOR ACHIEVING MEDIUM-TERM IMPACTS. THE CITIES SELECTED FOR CEA WORK INCLUDED: PITTSBURGH, PA, INDIANAPOLIS, IN, FRANKLIN COUNTY, OH, AND WESTMORELAND COUNTY, PA. 1105557 ESHIP COMMUNITIES: ESHIP COMMUNITIES, WITH SUPPORT FROM THE KAUFFMAN FOUNDATION, LAUNCHED IN 2019 WITH SIGNIFICANT GROUNDWORK IN LATE-2018. THIS WORK INCLUDED SELECTION OF A CITY, KANSAS CITY, MO, AND THE HIRING OF A LOCAL DIRECTOR TO WORK WITH LOCAL ENTREPRENEURS IN THE KANSAS CITY AREA. IN 2019, WORK EXPANDED INTO BALTIMORE, THE RIO GRANDE REGION OF NEW MEXICO, AND LONG BEACH, CA 247375 116139 MINIMAL VIABLE SOLUTIONS (MVS) ARE STRATEGIES THAT HAVE BEEN IDENTIFIED THROUGH A COMMUNITY-LED PROCESS TO ADDRESS BARRIERS TO INCREASING ENTREPREMEURIAL STARTS AND SMALL BUSINESS GROWTH IN UNDERCONNECTED COMMUNITIES. MVS ARE CO-CREATED IN THE COURSE OF DATA-INFORMED FACILITATION PROCESS INVOLVING LOCAL WORKING GROUPS, LOCAL ENTREPRENEURS, ENTREPRENEURIAL SUPPORTERS AND FORWARD CITIES. THEY ARE DESIGNED TO TEST A SET OF PILOT INTERVENTIONS THAT, IF SUCCESSFUL, CAN BE SCALED TO BENEFIT A BROADER SET OF ENTREPRENEURS IN SIMILAR NEIGHBORHOODS, THE CITY AND/OR THE REGION. 205543 63904 205543 63904 2286905 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 30 0 1 27 1 0 0 0 0 0 0 0 0 0 0 X 10 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X THE CORPORATION 9199284480 PO BOX 2008 DURHAM NC 27702 BRIAN PAYNE CHAIR 2.00 X X 0 0 0 WALKER SANDERS VICE CHAIR 1.00 X X 0 0 0 CATHY BELK TREASURER 2.00 X X 0 0 0 PAUL S GROGAN MEMBER 0.50 X 0 0 0 TAWANNA BLACK MEMBER 0.50 X 0 0 0 MAURICE JONES MEMBER 0.50 X 0 0 0 ALEX DERKSON MEMBER 0.50 X 0 0 0 BRANDON COSBY MEMBER 0.50 X 0 0 0 JEAN HORSTMAN MEMBER 0.50 X 0 0 0 CHRISTOPHER GERGEN CEO 40.00 X 146043 0 4740 146043 0 4740 1 0 1 0 0 60731 302808 1423792 1787331 CONTRACT REVENUE 900099 588893 588893 SPEAKER FEES 900099 16400 16400 PROGRAM FEES 900099 6834 6834 612127 MISCELLANEOUS 900099 83310 83310 83310 2482768 695437 0 0 150783 132810 17973 1451349 1278348 173001 99321 87482 11839 138252 121772 16480 23748 23748 159073 119623 39450 53107 16352 36755 5499 5499 15160 1931 13229 5232 5111 121 50051 50051 1456 1456 5004 5004 MVS EXPENSES 247375 247375 ESHIP 194484 194484 RESEARCH DEPARTMENT 28412 28412 DEVELOPMENT & OPERATION 28358 28358 26466 3154 23312 2683130 2286905 396225 0 720215 889050 397000 16928 3000 500 1137143 889550 155683 108452 155683 108452 X 53045 -121408 928415 902506 981460 781098 1137143 889550 -200362 0 X X 0 1 X 1 0 X 644032 909753 1408391 2273229 1787331 7022736 644032 909753 1408391 2273229 1787331 7022736 2209258 4813478 300 3000 5000 8300 7031036 1200832 0.68460 0.81020 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X 2482768 0 2482768 0 2482768 2683130 0 2683130 0 2683130 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C) (3) OF THE INTERNAL REVENUE CODE. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE ORGANIZATION'S TAX-EXEMPT PURPOSE WOULD BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. MANAGEMENT HAS CONSIDERED THE TAX POSITIONS TAKEN IN ITS TAX RETURNS AND BELIEVES THAT ALL OF THE POSITIONS TAKEN BY FORWARD CITIES, INC. IN ITS FEDERAL EXEMPT ORGANIZATION TAX RETURNS ARE MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION. GENERALLY, TAX RETURNS REMAIN OPEN FOR THREE YEARS FOR EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT DOES NOT BELIEVE THERE ARE ANY MATERIAL UNCERTAIN TAX POSITIONS; THEREFORE, THE ORGANIZATION DID NOT RECOGNIZE ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. X X 0 0 0 0 0 0 0 0 0 CHRISTOPHER GERGEN CEO 146043 0 0 0 0 0 0 0 4740 0 150783 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATIONS PRESIDENT/CEO AND MANAGER OF FIANANCE REVIEW THE DRAFT FORM 990. THEN EMAIL THE DRAFT RETURN TO THE BOARD OF DIRECTORS FOR THEIR REVIEW. THEIR QUESTIONS OR COMMENTS ARE DIRECTED BACK TO THE PRESIDENT/CEO AND MANAGER OF FINANCE AND THE RETURN IS FINALIZED WITH ANY REVISIONS. A COPY OF THE FORM 990 IS PROVIDED TO ALL BOARD MEMBERS BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY BY REQUIRING ANNUAL FULL DISCLOSURE, IN WRITING, OF ALL POTENTIAL CONFICTS OF INTERESTED PARTIES TO THE ORGANIZATION. ALL POTENTIAL CONFLICTS OF INTEREST REPORTED TO THE BOARD ARE REVIEWED AND VOTED ON AS TO WHETHER ANY FURTHER ACTION IS REQUIRED. FORM 990, PART VI, SECTION B, LINE 15 OFFICER SALARY IS INCLUDED IN THE BUDGET APPROVAL PROCESS AND REFLECTED IN THE EMPLOYEMENT AGREEMENT. FORM 990, PART VI, SECTION C, LINE 18 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: NO CHANGES WERE MADE TO THE OVERSIGHT PROCESS.