Forman Arts Initiative Inc
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.
Key facts about Forman Arts Initiative Inc
- EIN
- 83-2902185
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $394,300
- Grants made (2024)
- 4
- Average grant
- $98,575
- Median grant
- $67,500
- Total assets
- $86,416,547
- Primary geography
- Pennsylvania (100% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated September 2026.
Who Forman Arts Initiative Inc funds
By grant dollars, the top recipient states for Forman Arts Initiative Inc's 4 itemized 2024 grants were Pennsylvania (100%). The most frequent recipient cities were Philadelphia, PA (4 grants). 25% of grants with a stated purpose were for general or operating support.
How Forman Arts Initiative Inc gives
- Giving fell 49% from 2021 to 2024. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Next steps with Forman Arts Initiative Inc
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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
Share of all 4 itemized 2024 grant dollars.
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 | — | — | — |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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
Among its reported 2024 grants, the largest recipients include Philadelphia Foundation ($255,000), Drexel University ($75,000), Philadelphia Mural Arts Advocates ($60,000).
| Recipient | Purpose | Amount |
|---|---|---|
| PHILADELPHIA FOUNDATION Philadelphia, PA | ARTWORKS - GRANT TO SUPPORT ARTS, CULTURE AND CREATIVITY IN COMMUNITY-BASED ORGANIZATIONS AND ARTISTS WORKING IN PARTNERSHIP WITH BLACK, INDIGENOUS, PEOPLE OF COLOR, OTHER MARGINALIZED, AND VULNERABLE COMMUNITIES IN THE GREATER PHILADELPHIA AREA | $255,000 |
| DREXEL UNIVERSITY Philadelphia, PA | ART WORKS DREXEL CO-OP - SUPPORT IS INTENDED TO ESTABLISH THE FORMAN ARTS INITIATIVE CO-OP PROGRAM FUND AT THE LENFEST CENTER FOR CULTURAL PARTNERSHIPS. | $75,000 |
| PHILADELPHIA MURAL ARTS ADVOCATES Philadelphia, PA | SUPPORT 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. | $60,000 |
| BLACKSTAR PROJECTS INC Philadelphia, PA | GENERAL SUPPORT | $4,300 |
Leadership & Key People
Officers and directors from IRS filings
Forman Arts Initiative Inc is led by Adjoa Jones De Almeida, Executive Director on the 2024 filing; 2 of 10 officers listed in 2024 are compensated.
Officers on the 2024 filing
Adjoa Jones De Almeida
Executive Director
New on the 2024 filing
40 hrs/week
$258K (2024)
Michael C. Forman
President
On filings since 2020
1 hr/week
No compensation reported
Jaime Frankurt
Board of Director
New on the 2024 filing
1 hr/week
No compensation reported
Judilee Reed
Board of Director
New on the 2024 filing
1 hr/week
No compensation reported
Luke Nikas
Board of Director
New on the 2024 filing
1 hr/week
No compensation reported
Rashid Johnson
Board of Director
New on the 2024 filing
1 hr/week
No compensation reported
Wendell Pritchett
Board of Director
New on the 2024 filing
1 hr/week
No compensation reported
William R. Hite Jr.
Board of Director
New on the 2024 filing
1 hr/week
No compensation reported
Thomas Trala
Treasurer, Secretary & CFO
Treasurer & Secretary → Treasurer, Secretary & CFO, 2024
On filings since 2020
10 hrs/week
$42K (2021) → $121K (2024)
Jennifer S. Rice
Vice President
On filings since 2020
1 hr/week
No compensation reported
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Forman Arts Initiative Inc?
Forman Arts Initiative Inc is a private foundation focused on Arts, Culture & Humanities, based in Philadelphia, PA. It holds $86.4M in total assets as of 2024.
How large is Forman Arts Initiative Inc?
As of 2024, Forman Arts Initiative Inc holds $86.4M in total assets with $3.3M in annual revenue. It awarded 4 grants totaling $394K in 2024.
Where does Forman Arts Initiative Inc operate?
Forman Arts Initiative Inc has awarded grants in Pennsylvania.
What size grants does Forman Arts Initiative Inc award?
In 2024, Forman Arts Initiative Inc awarded 4 grants totaling $394K — an average of about $99K per grant, based on its IRS Form 990 filings.
What is Forman Arts Initiative Inc's EIN?
Forman Arts Initiative Inc's EIN (Employer Identification Number) is 83-2902185. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated September 2026. Sourced from IRS Form 990-PF filings.