THE FORTE FOUNDATION
More Women Leading
THE FORTE FOUNDATION
EIN: 61-1457145
as of November 2023
as of November 13, 2023
Mission
Forté Foundation is a non-profit consortium of leading companies and top business schools working together to launch women into fulfilling, significant careers through access to business education, professional development, and a community of successful women.
Ruling year
2004
CEO
Elissa Sangster
Main address
9600 Escarpment Blvd. #745 PMB 72
Austin, TX 78749 USA
EIN
61-1457145
Education
Employment
Business and industry
Population served
Adults
Women and girls
Low-income people
Academics
Students
NTEE code
Scholarships, Student Financial Aid, Awards (B82)
IRS subsection
501(c)(3) Public Charity
IRS filing requirement
This organization is required to file an IRS Form 990 or 990-EZ.
Tax forms
Communication
Programs and results
Reports and documents
Download annual reportsWhat we aim to solve
Forté is focused on launching women into fulfilling, significant careers through access to business education, professional development, and a community of successful women.
Our programs
What are the organization's current programs, how do they measure success, and who do the programs serve?
Forte College Leadership Conferences
One and two day conferences for undergraduates designed to support you to pursue your career goals, develop your personal brand, build leadership skills and network with top companies. Event portfolio includes National College to Business Leadership, College Fast Track to Finance, and Candid Conversations Conferences.
Forte MBA Forums
Forté's MBA Forums are held annually in various locations to provide women with information about the value of an MBA and make connections with admissions reps, MBA alumnae and students from top business schools in North America and Europe.
MBA Women's Conferences & Company Expo
An annual symposium for incoming MBA women at Forté partner business schools in which attendees learn from highly-successful business leaders through a series of presentations, workshops and an interactive career expo. In addition to annual symposium, Forté offers a conference specifically for women interested in Financial Services.
Forté MBALaunch
MBALaunch is 10-month program consisting of in-person and virtual events. The program provides women seeking an MBA with a support network and a structured roadmap for applying to business schools.
Where we work
External reviews
Videos
Our results
How does this organization measure their results? It's a hard question but an important one.
Number of individuals attending community events or trainings
This metric is no longer tracked.Totals By Year
Population(s) Served
Women and girls
Related Program
Forte MBA Forums
Type of Metric
Output - describing our activities and reach
Direction of Success
Increasing
Context Notes
Each year Forte hosts a series of MBA Forums in major cities across North America and Europe, in addition to a series of virtual events. We have hosted these events annually since 2002.
Total number of new organization members
This metric is no longer tracked.Totals By Year
Type of Metric
Output - describing our activities and reach
Direction of Success
Increasing
Context Notes
Corporate, MBA, and partnering institutions
Number of groups/individuals benefiting from tools/resources/education materials provided
This metric is no longer tracked.Totals By Year
Population(s) Served
Women and girls
Type of Metric
Output - describing our activities and reach
Direction of Success
Increasing
Context Notes
Forté database members
Number of participants attending course/session/workshop
This metric is no longer tracked.Totals By Year
Population(s) Served
Women and girls
Related Program
MBA Women's Conferences & Company Expo
Type of Metric
Output - describing our activities and reach
Direction of Success
Increasing
Context Notes
Each year Forté hosts its MBA Women's Leadership Conference for incoming MBA women as well as a conference specifically for women interested in Financials Services.
Number of advocate or trained spokesperson citations in the media
This metric is no longer tracked.Totals By Year
Type of Metric
Input - describing resources we use
Direction of Success
Increasing
Context Notes
Elissa Sangster and Forte are often quoted in top media on the topic of women's enrollment in MBA programs, gender equity issues including the gender pay gap, Men as Allies, etc.
Goals & Strategy
Reports and documents
Download strategic planLearn about the organization's key goals, strategies, capabilities, and progress.
Charting impact
Four powerful questions that require reflection about what really matters - results.
What is the organization aiming to accomplish?
We are growing the pipeline of college and early career women who know about business careers and business education by providing them with access to online and live events where they can explore the many career paths open to them in business no matter their college major. We want to inspire them with the women who have pursued these paths before them. We want to give them the tools and resources they need to be successful in their career search, find a job that pays them equitably, and give them access to a life-long network that can support their career aspirations. Women's representation in MBA programs is also a critical focus for Forté. We have seen the numbers of enrolled women go from 28% in 2002 to 41% in 2022, but there is still more to do in order to reach parity in business schools. Forté provides access for women through our Forté Forums series where women can meet schools and learn from other women how they did it. We also provide intensive programs that support women through the MBA application process. Our goal is to increase the women participating in these programs and ensure that they are successful in pursuing their aspirations of becoming an MBA.
What are the organization's key strategies for making this happen?
College: Offer the Virtual Career Ready Certificate, an online career accelerator for undergraduate women of all majors. Develop relationships with undergraduate institutions that supports these efforts. Partner with companies who are interested in building the pipeline of college women interested in business no matter their undergraduate major. Offer live programming that allows college women to explore business careers, understand how business works, understand financial careers, and meet with other like-minded women to build their professional network. Pre-MBA: Offer live event series where women can meet business schools and hear from b-school alumnae who have graduated and are pursuing their career to learn about how they did it. Offer an intensive 8-month program to support women in their pursuit of MBA admission. This program provides them with a cohort of peers, alumnae advisors, and a network of support from admissions experts. Professional: Provide an online and live series of professional development events focused on women in the workplace.
What are the organization's capabilities for doing this?
Forté partners with 50+ top business schools and 60+ corporate partners to accomplish our goals. We have an extensive network of business professionals who are past participants in our programs or active members of our partner network. This group provides a great deal of support in the delivery of our live and online programs. Each year we host 40 live events, virtual school and career fairs, over 30 virtual workshops and seminars, and an MBA Women's Leadership Conference with over 600 attendees. The Forté leadership team boasts a wide range of experience from business school and industry experts on topics including MBA admissions, career services, diversity and inclusion, and much more.
What have they accomplished so far and what's next?
We have seen the number of women in MBA programs grow from 28% in 2002 to 41% in 2022. Through our school partners, we provide MBA scholarships for women. In 2005 we had 35 Fellows and now boast 13,000+ Fellow students and alumnae in 2022, which represents a total of $334 million in scholarships that have been awarded to MBA women. In 20 years, we have seen our database grow from 1,800 to over 112,000 women. In 2004 we had 12 corporate and school partners in our network. We now boast over 200 universities, MBA programs and companies who support our work on an annual basis.
How we listen
Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.
-
How is your organization using feedback from the people you serve?
To identify and remedy poor client service experiences, To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To identify where we are less inclusive or equitable across demographic groups, To strengthen relationships with the people we serve
-
Which of the following feedback practices does your organization routinely carry out?
We collect feedback from the people we serve at least annually, We take steps to get feedback from marginalized or under-represented people, We aim to collect feedback from as many people we serve as possible, We take steps to ensure people feel comfortable being honest with us, We look for patterns in feedback based on demographics (e.g., race, age, gender, etc.), We act on the feedback we receive
-
What challenges does the organization face when collecting feedback?
We don't have any major challenges to collecting feedback
Financials
Financial documents
Download audited financialsRevenue vs. expenses: breakdown
Liquidity in 2022 info
1.60
Months of cash in 2022 info
5.9
Fringe rate in 2022 info
20%
Funding sources info
Assets & liabilities info
Financial data
THE FORTE FOUNDATION
Balance sheetFiscal Year: Jan 01 - Dec 31
The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.
Fiscal Year: Jan 01 - Dec 31
This snapshot of THE FORTE FOUNDATION’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.
Created in partnership with
Business model indicators
| Profitability info | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|
| Unrestricted surplus (deficit) before depreciation | -$167,038 | -$116,898 | $424,010 | $1,027,109 | -$172,314 |
| As % of expenses | -3.8% | -2.6% | 11.8% | 23.5% | -2.8% |
| Unrestricted surplus (deficit) after depreciation | -$167,038 | -$116,898 | $424,010 | $1,027,109 | -$172,314 |
| As % of expenses | -3.8% | -2.6% | 11.8% | 23.5% | -2.8% |
| Revenue composition info | |||||
|---|---|---|---|---|---|
| Total revenue (unrestricted & restricted) | $4,277,699 | $4,440,555 | $4,013,043 | $5,400,451 | $5,904,218 |
| Total revenue, % change over prior year | 9.7% | 3.8% | -9.6% | 34.6% | 9.3% |
| Program services revenue | 45.8% | 44.9% | 33.7% | 39.7% | 45.7% |
| Membership dues | 48.3% | 50.0% | 57.2% | 47.9% | 49.9% |
| Investment income | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% |
| Government grants | 0.0% | 0.0% | 0.0% | 7.8% | 0.0% |
| All other grants and contributions | 5.9% | 5.0% | 9.0% | 4.6% | 4.3% |
| Other revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Expense composition info | |||||
|---|---|---|---|---|---|
| Total expenses before depreciation | $4,444,737 | $4,557,453 | $3,589,034 | $4,373,342 | $6,076,532 |
| Total expenses, % change over prior year | 14.6% | 2.5% | -21.2% | 21.9% | 38.9% |
| Personnel | 52.1% | 53.4% | 67.7% | 68.5% | 63.3% |
| Professional fees | 5.1% | 5.0% | 4.6% | 3.4% | 3.1% |
| Occupancy | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Interest | 0.0% | 0.0% | 0.1% | 0.0% | 0.0% |
| Pass-through | 0.0% | 0.0% | 0.0% | 0.5% | 0.2% |
| All other expenses | 42.8% | 41.5% | 27.7% | 27.6% | 33.4% |
| Full cost components (estimated) info | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|
| Total expenses (after depreciation) | $4,444,737 | $4,557,453 | $3,589,034 | $4,373,342 | $6,076,532 |
| One month of savings | $370,395 | $379,788 | $299,086 | $364,445 | $506,378 |
| Debt principal payment | $0 | $0 | $0 | $414,611 | $0 |
| Fixed asset additions | $0 | $0 | $0 | $0 | $0 |
| Total full costs (estimated) | $4,815,132 | $4,937,241 | $3,888,120 | $5,152,398 | $6,582,910 |
Capital structure indicators
| Liquidity info | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|
| Months of cash | 2.8 | 2.9 | 9.0 | 8.6 | 5.9 |
| Months of cash and investments | 2.8 | 2.9 | 9.0 | 8.6 | 5.9 |
| Months of estimated liquid unrestricted net assets | 0.9 | 0.6 | 2.2 | 4.6 | 3.0 |
| Balance sheet composition info | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|
| Cash | $1,021,554 | $1,090,683 | $2,678,459 | $3,135,960 | $3,008,136 |
| Investments | $0 | $0 | $0 | $0 | $0 |
| Receivables | $620,728 | $499,528 | $269,088 | $309,948 | $507,361 |
| Gross land, buildings, equipment (LBE) | $0 | $0 | $0 | $0 | $0 |
| Accumulated depreciation (as a % of LBE) | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Liabilities (as a % of assets) | 80.1% | 86.6% | 78.7% | 53.2% | 59.5% |
| Unrestricted net assets | $337,894 | $220,996 | $645,006 | $1,672,115 | $1,499,801 |
| Temporarily restricted net assets | $0 | N/A | N/A | N/A | N/A |
| Permanently restricted net assets | $0 | N/A | N/A | N/A | N/A |
| Total restricted net assets | $0 | $0 | $0 | $0 | $0 |
| Total net assets | $337,894 | $220,996 | $645,006 | $1,672,115 | $1,499,801 |
Key data checks
| Key data checks info | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|
| Material data errors | No | No | No | No | No |
Operations
The people, governance practices, and partners that make the organization tick.
Documents
CEO
Elissa Sangster
Since 2004, Elissa has served as Executive Director for the Forté Foundation, a non-profit organization dedicated to inspiring women business leaders. She has grown Forté from a small consortium of a handful of schools and companies to a preeminent internationally-recognized organization. Ms. Sangster brings over 20 years of expertise addressing issues affecting women’s abilities to seek, prepare for and attain business leadership positions. Prior to Forté, Elissa was Assistant Dean and Director of the MBA Program at the McCombs School of Business at the University of Texas at Austin. There she oversaw all activities related to the full-time McCombs MBA program including marketing, admissions, student services, and alumni relations.
Elissa received her MBA and her B.A. in English from Texas A&M University, where she was the Assistant Director of the MBA Program until 1997.
Number of employees
Source: IRS Form 990
THE FORTE FOUNDATION
Officers, directors, trustees, and key employeesSOURCE: IRS Form 990
Compensation data
THE FORTE FOUNDATION
Highest paid employeesSOURCE: IRS Form 990
Compensation data
THE FORTE FOUNDATION
Board of directorsas of 08/23/2023
Board of directors data
Ms. Caitlin McLaughlin
Lafayette Square
Term: 2023 - 2026
ELISSA SANGSTER
Ellen Glazerman
Ernst & Young Foundation
Caitlin McLaughlin
Lafayette Square
Edie Hunt
Retired, Goldman Sachs
Lauriann Kloppenberg
Retired, Loomis Sayles
Sara O'Reilly
HMB Legal Counsel
Nicole Irvin
Goldman Sachs
Roxanne Hori
Next Act Partners
Alice Davison
Capital Group Companies
Karen Korn
Fidelity
Beverley Babcock
Imperial Oil (retired)
Jeannette Martin
Deloitte Consulting
Kathleen McQuiggan
Artemis Financial Advisors
Nogie Udevbulu
BlackRock
Peter Johnson
University of California, Berkeley, Haas School of Business
Marques Benton
Loomis Sayles
Douglas Johnson
Valor Partners
Joshua Stewart
Talent Solutions & Outreach
Karen Williams
Thrive Scholars
Melanie Carucci
Fidelity National Information Services
Board leadership practices
GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.
-
Board orientation and education
Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes -
CEO oversight
Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes -
Ethics and transparency
Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes -
Board composition
Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes -
Board performance
Has the board conducted a formal, written self-assessment of its performance within the past three years? Yes
Organizational demographics
Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.
Leadership
The organization's leader identifies as:
Race & ethnicity
Gender identity
Sexual orientation
No data
Disability
No data
Equity strategies
Last updated: 05/22/2023GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more
- We disaggregate data to adjust programming goals to keep pace with changing needs of the communities we support.
- We employ non-traditional ways of gathering feedback on programs and trainings, which may include interviews, roundtables, and external reviews with/by community stakeholders.
- We disaggregate data by demographics, including race, in every policy and program measured.
- We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
- We have community representation at the board level, either on the board itself or through a community advisory board.
- We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization.
Contractors
Fiscal year endingGuideStar Pro Reports
Report successfully added to your cart!
Want more data?
A GuideStar Pro report containing the following information is available for this organization:
- Email contact information
- Financial trends metrics for five most recent years 2022, 2021, 2020, 2019, 2018*
- Financial statements for 2022, 2021, 2020, 2019, 2017
- Letter of Determination
- Officer and/or Employee data for 2022, 2021, 2020, 2019, 2018
- Contractor and/or Paid Preparer data for 2022, 2021, 2020
- Board of Directors data for 2023
- *with the ability to download the data for 2022, 2021, 2020, 2019, 2018
Download it now for $125.
Need the ability to download nonprofit data and more advanced search options?Consider a Pro Search subscription.