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
Among its reported 2024 grants, the largest 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
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
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.
Explore Open Grants
Browse active grant opportunities in Forman Arts Initiative Inc's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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