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Forman Arts Initiative Inc. is a private corporation based in PHILADELPHIA, PA. The foundation received its IRS ruling in 2024. The principal officer is % Michael C Forman. It holds total assets of $86.4M. Annual income is reported at $13M. PROMOTE THE STUDY, EDUCATION, DISPLAY AND ADVANCEMENT OF THE ARTS. According to available records, Forman Arts Initiative Inc. has made 11 grants totaling $2.2M, with a median grant of $75K. Annual giving has decreased from $770K in 2021 to $322K in 2023. Grantmaking activity was highest in 2022 with $1.1M distributed across 4 grants. Individual grants have ranged from $2K to $685K, with an average award of $196K. The foundation has supported 5 unique organizations. Grant recipients are concentrated in Pennsylvania. Contributions to this foundation are tax-deductible.
PROMOTE THE STUDY, EDUCATION, DISPLAY AND ADVANCEMENT OF THE ARTS
Expenses: $414K
PROMOTE THE STUDY, EDUCATION, DISPLAY AND ADVANCEMENT OF THE ARTS. Based on available records, the foundation has funded 11 grants. Its grantmaking reaches organizations primarily in PA.
Forman Arts Initiative Inc. has distributed a total of $2.2M across 11 grants. The median grant size is $75K, with an average of $196K. Individual grants have ranged from $2K to $685K.
Forman Arts Initiative Inc. typically selects its grantees rather than accepting unsolicited proposals.
Forman Arts Initiative Inc. is headquartered in PHILADELPHIA, PA.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| Thomas Trala | TREASURER/SECRETARY | $68K | $0 | $68K |
| Jennifer S Rice | VICE PRESIDENT | $0 | $0 | $0 |
| Michael C Forman | PRESIDENT | $0 | $0 | $0 |
Total Giving
$2.9M
Total Assets
$83.5M
Fair Market Value
$83.5M
Net Worth
$82.8M
Grants Paid
$662K
Contributions
$1.7M
Net Investment Income
$6.7M
Distribution Amount
$0
Total Grants
11
Total Giving
$2.2M
Average Grant
$196K
Median Grant
$75K
Unique Recipients
5
Most Common Grant
$75K
of 2023 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| Philadelphia FoundationARTWORKS (YR4) - GRANT TO SUPPORT ARTS, CULTURE & CREATIVITY IN COMMUNITY-BASED ORGANIZATIONS & ARTISTS WORKING IN PARTNERSHIP WITH BLACK, INDIGENOUS, PEOPLE OF COLOR, OTHER MARGINALIZED, & VULNERABLE COMMUNITIES IN THE GREATER PHILA AREA. | Philadelphia, PA | $215K | 2023 |
| Drexel UniversitySUPPORT IS INTENDED TO ESTABLISH THE FORMAN ARTS INITIATIVE CO-OP PROGRAM FUND AT THE LENFEST CENTER FOR CULTURAL PARTNERSHIPS. THE PROGRAM IS INTENDED TO RUN FOR 5 YEARS. | Philadelphia, PA | $75K | 2023 |
| Philadelphia Mural Arts AdvocatesSUPPORT FOR PUBLIC WORKS RESIDENCY PROGRAM THAT EMBEDS ARTISTS IN CITY GOVERNMENT AGENCIES OR OTHER SIMILAR ORGANIZATIONS TO PROPOSE AND IMPLEMENT CREATIVE SOLUTIONS TO PRESSING CIVIC CHALLENGES. | Philadelphia, PA | $30K | 2023 |
| Blackstar Projects IncGENERAL SUPPORT | Philadelphia, PA |
NEW YORK, NY
BROOKLYN, NY
SANTA ROSA, CA
SAINT LOUIS, MO
| $2K |
| 2023 |
| Black Women Give FoundationGENERAL SUPPORT | Bala Cynwyd, PA | $10K | 2021 |
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