The Forbes Funds
The Forbes Funds at a glance
In short: The Forbes Funds gave $170K across 9 grants in 2024 (avg $19K), mostly in Pennsylvania. Source: 2024 IRS Form 990.
- Annual giving (2024)
- $170,000
- -19.0% vs 2023
- Grants made (2024)
- 9
- -18.2% vs 2023
- Average grant
- $18,889
- -1.1% vs 2023
- Median grant
- $20,000
- Total assets
- $9,820,901
- -4.9% vs 2023
- Primary geography
- Pennsylvania (100% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990, 2024 View filing
Data from IRS Form 990, 2024; updated September 2026.
How to apply to The Forbes Funds
Open Grants
1 open opportunity from The Forbes Funds
Who The Forbes Funds funds
How this funder distributes its grants
Top Recipients
Top 9 recipients in 2024
The largest 2024 recipient was Point Park University ($40K). Together the top 9 received $170K.
Grant Size Distribution
62 grants across all recorded years
The most common grant size was under $50K: 62 grants of 62 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 9 itemized grants.
States
Cities
How The Forbes Funds gives
- Giving fell 27% from 2021 to 2024. Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2024, annual grant giving ranged from $170K (2024) to $410K (2019). In 2024 it made 9 grants totaling $170K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Point Park University Pittsburgh, PA | Fund a consultant to assess and advise if a coordinated sharing of resources is cost effective. | $40,000 |
| Pittsburgh National Youth Boxing DBA Team 412PITTSBURGH Box 412 Pittsburgh, PA | To improve data tracking, operational efficiency, and supporting underrepresented youth. | $30,000 |
| Passport Academy Charter School Pittsburgh, PA | Create a sustainable model of support and structure as well as provide a vehicle for sharing services. | $20,000 |
| Pediatric Palliative Care Coalition Pittsburgh, PA | To share stories of students who have overcome barriers to learning and how to utilize community partners for career-readiness preparedness. | $20,000 |
| The Kingsley Association Pittsburgh, PA | To create a peer cohort to discuss strategies for funding capacity building. | $20,000 |
| 25 Carrick Ave Project DBA Tech 25 Pittsburgh, PA | To create a program for individuals diagnosed with sarcoma cancers and their families. | $10,000 |
| Jewish Federation of Greater Pittsburgh Pittsburgh, PA | To help underwrite the cost of hiring a consultant to facilitate the strategic planning process. | $10,000 |
| Pittsburgh Cure Sarcoma Gibsonia, PA | To create a strategic plan and process, including priorities and action steps to expand its impact in the pittsburgh jewish community. | $10,000 |
| Tzohar Seminary DBA Tzohar Arts Pittsburgh, PA | To launch new programs that serve at-risk youth and develop a strategic growth plan instructor team, to open a new program site. | $10,000 |
Ready to take the next step with The Forbes Funds?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2024 | $9,820,901 | $1,683,390 | $2,320,380 | $170,000 | 9 | $754,655 |
| 2023 | $10,327,800 | $2,655,431 | $2,593,246 | $210,000 | 11 | $465,232 |
| 2022 | $9,820,078 | $1,718,199 | $2,499,418 | $304,999 | 16 | $349,964 |
| 2021 | $11,532,180 | $3,486,741 | $2,450,807 | $232,500 | 12 | $499,794 |
| 2020 | $9,800,019 | $2,202,842 | $2,338,217 | $300,000 | 14 | $296,126 |
| 2019 | $9,406,238 | $2,139,922 | $2,225,199 | $410,000 | 19 | $311,641 |
About The Forbes Funds
Based on IRS filings
The Forbes Funds is a public charity, based in Pittsburgh, PA. IRS filing data is available from 2019 through 2024. As of 2024, the organization holds $9.8M in total assets. In 2024, it awarded 9 grants totaling $170K. Net investment income was $755K.
Leadership & Key People
Officers and directors from IRS filings
The Forbes Funds is led by Fred Brown, President & CEO since 2022 (on filings since 2019); 4 of 12 officers listed in 2024 are compensated.
Officers on the 2024 filing
Fred Brown
President & CEO
President → President & CEO, 2022
On filings since 2019
65 hrs/week
$170K (2019) → $230K (2024)
Bill Isler
Chair
Member at Large → Vice Chair, 2021
Vice Chair → Chair, 2023
On filings since 2019
1 hr/week
No compensation reported
Jason Jones
Treasurer
Member at Large → Treasurer, 2021
On filings since 2020
1 hr/week
$13K (2020) → $5K (2024)
Hannah Karolak
Chief Program Officer
On filings since 2023
50 hrs/week
$101K (2023) → $103K (2024)
Olivia Benson Gallina
Chief Operating Officer
New on the 2024 filing
50 hrs/week
$104K (2024)
Elisabeth Schroeder
Member at Large
On filings since 2019
1 hr/week
No compensation reported
Kathy Humphrey
Member at Large
Member at Large → Chair, 2021
Chair → Member at Large, 2023
On filings since 2019
1 hr/week
No compensation reported
James E. Taylor
Vice Chair
Member at Large → Vice Chair, 2023
On filings since 2021
1 hr/week
No compensation reported
Jonathan Brelsford
Member at Large
On filings since 2022
1 hr/week
No compensation reported
Sylvia Fields
Member at Large
On filings since 2022
1 hr/week
No compensation reported
Jeremiah Brooker
Member at Large
New on the 2024 filing
1 hr/week
No compensation reported
Stanley Litow
Member at Large
New on the 2024 filing
1 hr/week
No compensation reported
Former officers (16)
- Former: Ann E. Cudd (2022–2023) — Member at Large
- Former: Olivia Benson (2023) — Chief Operating Officer
- Former: Katherine Larsen (2021–2022) — Member at Large
- Former: Bill Isler Vice Chair (2022) — Chair
- Former: James E. Taylormem At Lar (2022) — 2nd Chair
- Former: Kathy Humphrey Chair (2022) — Member at Large
- Former: Nancy Rackoff (2019–2021) — Secretary
- Former: Scott Lammie (2019–2021) — Member at Large
- Former: Anne Cudd Entered (2021) — Member at Large
- Former: Patrick Dowd Exited (2021) — Member at Large
- Former: Sylvia Fields Entered (2021) — Member at Large
- Former: Patrick Dowd (2019–2020) — Member at Large
- Former: Brian Parker (2020) — Member at Large
- Former: Kathy Humphrey Member At (2020) — Large & Chair
- Former: Scott Lammie Chair (2020) — Member at Large · Filing note: Thru
- Former: Maxwell King (2019) — Member at Large
Data from IRS Form 990 filings, 2019–2024. "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
The highest reported compensation on the 2024 filing was $230K, to Fred Brown (President/CEO). 4 officers or directors reported compensation on that filing.
Frequently asked questions about The Forbes Funds
How much does The Forbes Funds give each year?
The Forbes Funds gave $170K across 9 grants in 2024, according to its 2024 IRS Form 990. In 2023 it gave $210K across 11 grants.
What is The Forbes Funds's typical grant size?
The Forbes Funds's median grant in 2024 was $20,000, and its average grant was $18,889, across 9 grants on its 2024 IRS Form 990.
Where does The Forbes Funds give grants?
The Forbes Funds gives mostly in Pennsylvania: 100% of the grant dollars itemized on its 2024 IRS Form 990 went to recipients there. The most frequent recipient cities were Pittsburgh, PA (8 grants).
Does The Forbes Funds give general operating support?
Yes: 11% of The Forbes Funds's 2024 grants with a stated purpose (1 of 9) were for general or operating support, per its 2024 IRS Form 990.
Who are The Forbes Funds's largest grantees?
The Forbes Funds's largest 2024 grantees include Point Park University ($40,000), Pittsburgh National Youth Boxing DBA Team 412PITTSBURGH Box 412 ($30,000) and Passport Academy Charter School ($20,000), according to its 2024 IRS Form 990. Together they received 53% of its itemized 2024 grant dollars.
How large is The Forbes Funds?
The Forbes Funds reported $9.8M in total assets on its 2024 IRS Form 990. Its revenue that year was $1.7M.
What is The Forbes Funds's EIN?
The Forbes Funds's EIN (Employer Identification Number) is 25-1418095. IRS Form 990 filing data is available on this page for 2019–2024.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Added Form 990 for fiscal year 2019 (received by the IRS November 13, 2020)
- Updated Form 990 for fiscal year 2020 (received by the IRS November 12, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS November 11, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS November 15, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS November 14, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS November 13, 2025)
- IRS filings on file for fiscal years 2020–2024
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