Forman Arts Initiative Inc is a private foundation focused on Arts, Culture & Humanities, based in PHILADELPHIA, PA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $86.4M in total assets. In 2024, it awarded 4 grants totaling $394K. Net investment income was $7.0M.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$86.4M
+3.4% YoY
Annual Giving
$394K
+22.5% YoY
Grant Count
4
+0.0% YoY
Avg Grant Size
$99K
+22.5% YoY
About Forman Arts Initiative Inc
Based on IRS filings
Forman Arts Initiative Inc is a private foundation focused on Arts, Culture & Humanities, based in PHILADELPHIA, PA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $86.4M in total assets. In 2024, it awarded 4 grants totaling $394K. Net investment income was $7.0M.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $86,416,547 | $83,544,282 | $83,337,616 |
| Revenue | $3,269,723 | $-1,800,926 | $7,508,224 |
| Expenses | $2,223,228 | $2,944,911 | $1,546,319 |
| Qualifying Distributions | $1,756,543 | $2,294,388 | $6,647,335 |
| Net Investment Income | $6,980,369 | $6,713,303 | — |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 4 recipients in 2024
Grant Size Distribution
13 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| MICHAEL C FORMAN | PRESIDENT | 1 | — |
| JENNIFER S RICE | VICE PRESIDENT | 1 | — |
| THOMAS TRALA | TREASURER/SECRETARY/CFO | 10 | $121,176 |
| ADJOA JONES DE ALMEIDA | EXECUTIVE DIRECTOR | 40 | $257,544 |
| JAIME FRANKURT | BOARD OF DIRECTOR | 1 | — |
| LUKE NIKAS | BOARD OF DIRECTOR | 1 | — |
| WILLIAM R HITE JR | BOARD OF DIRECTOR | 1 | — |
| RASHID JOHNSON | BOARD OF DIRECTOR | 1 | — |
| WENDELL PRITCHETT | BOARD OF DIRECTOR | 1 | — |
| JUDILEE REED | BOARD OF DIRECTOR | 1 | — |
Subject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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