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Nonprofiteer
← FOSTER SUCCESS INC

Form 990 for tax year 2023

Filed by FOSTER SUCCESS INC.

Totals

Total revenue
$5,295,027
Total expenses
$4,858,669
Contributions and grants received
$4,993,595
Grants paid
$2,540,187
Program service revenue
$0
Investment income
$313,561
Other revenue
-$12,129
Total assets, end of year
$8,601,878
Total liabilities, end of year
$1,780,017
Net assets or fund balances, end of year
$6,821,861
Program services expenses (Part IX)
$4,459,862
Management and general expenses
$189,609
Fundraising expenses
$209,198
Program service expenses (Part III)
$4,459,862

Program services were 91.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $5,000

  • 1e · Government grants (contributions)

    $3,968,602

  • 1f · All other contributions, gifts and grants

    $1,019,993

  • 1g · Noncash contributions included above

    $85

  • 3 · Investment income

    total $275,470 · excluded $275,470

  • 7a · Gross sales of assets other than inventory

    securities $38,091

  • 7b · Less cost or other basis and sales expenses

    securities $0

  • 7c · Gain or loss

    securities $38,091

  • 7d · Net gain or loss

    total $38,091 · excluded $38,091

  • 8a · Fundraising events: gross income

    $3,270

  • 8a · Fundraising events: contributions included on line 1c

    $5,000

  • 8b · Fundraising events: direct expenses

    $30,306

  • 8c · Net income from fundraising events

    total -$27,036 · excluded -$27,036

  • 11a · Other revenue: OTHER INCOME

    total $14,907 · related or exempt $14,907

  • 11e · Other revenue, total

    $14,907

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $2,540,187 · program services $2,540,187

  • 5 · Compensation of officers, directors and key employees

    total $382,747 · program services $333,869 · management and general $9,984 · fundraising $38,894

  • 7 · Other salaries and wages

    total $886,120 · program services $776,901 · management and general $22,868 · fundraising $86,351

  • 8 · Pension plan contributions

    total $23,971 · program services $19,806 · management and general $694 · fundraising $3,471

  • 9 · Other employee benefits

    total $156,948 · program services $129,675 · management and general $4,546 · fundraising $22,727

  • 10 · Payroll taxes

    total $105,892 · program services $93,639 · management and general $2,446 · fundraising $9,807

  • 11c · Fees: accounting

    total $108,551 · program services $93,477 · management and general $14,534 · fundraising $540

  • 11f · Fees: investment management

    total $26,628 · management and general $26,628

  • 11g · Fees: other

    total $265,032 · program services $187,506 · management and general $70,472 · fundraising $7,054

  • 12 · Advertising and promotion

    total $90,848 · program services $71,840 · management and general $6,848 · fundraising $12,160

  • 13 · Office expenses

    total $127,067 · program services $98,926 · management and general $9,932 · fundraising $18,209

  • 16 · Occupancy

    total $29,599 · program services $29,599

  • 17 · Travel

    total $75,818 · program services $62,073 · management and general $3,834 · fundraising $9,911

  • 22 · Depreciation, depletion and amortization

    total $14,804 · management and general $14,804

  • 23 · Insurance

    total $13,583 · program services $11,953 · management and general $1,630

  • 24a · Other expenses: EQUIPMENT

    total $10,874 · program services $10,411 · management and general $389 · fundraising $74

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,391,188 · end of year $1,684,476

  • 4 · Accounts receivable

    beginning of year $641,633 · end of year $388,815

  • 7 · Other notes and loans receivable

    end of year $500,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $21,814 · end of year $29,641

  • 10a · Land, buildings and equipment: cost or other basis

    $179,335

  • 10b · Land, buildings and equipment: accumulated depreciation

    $75,197

  • 10c · Land, buildings and equipment, net

    beginning of year $118,942 · end of year $104,138

  • 11 · Investments: publicly traded securities

    beginning of year $4,921,775 · end of year $5,551,590

  • 15 · Other assets

    beginning of year $135,241 · end of year $343,218

  • 17 · Accounts payable and accrued expenses

    beginning of year $137,334 · end of year $168,054

  • 19 · Deferred revenue

    beginning of year $2,008,213 · end of year $1,504,419

  • 25 · Other liabilities

    beginning of year $132,480 · end of year $107,544

  • 27 · Net assets without donor restrictions

    beginning of year $1,030,791 · end of year $1,270,272

  • 28 · Net assets with donor restrictions

    beginning of year $4,921,775 · end of year $5,551,589

Mission and programs · 2023

Mission

FOSTER SUCCESS' MISSION IS TO ENSURE THAT FOSTER CARE YOUTH ARE EDUCATED, HOUSED, FINANCIALLY STABLE, EMPLOYED AND CONNECTED TO A SUPPORT SYSTEM BY AGE 25. FOSTER SUCCESS IS A 501(C)(3) CHARITABLE ORGANIZATION THAT PROVIDES TECHNICAL ASSISTANCE TO BUILD THE CAPACITY OF FUNDERS, STATE AND LOCAL POLICY MAKERS, CASE MANAGERS, INDEPENDENT LIVING SPECIALISTS AND YOUTH-SERVING PROVIDERS TO EFFECTIVELY SUPPORT YOUTH TRANSITIONING FROM FOSTER CARE.

Activities or mission (Part I)

FOSTER YOUTH SUPPORT - SEE PART III LINE 1 FOR MISSION STATEMENT.

  • YOUTH ENGAGEMENT: THE YOUTH ENGAGEMENT PROGRAMS BRING TOGETHER YOUNG PEOPLE TO SUPPORT ONE ANOTHER AND TACKLE THE ISSUES THAT MATTER TO THEM. WHETHER OR NOT A YOUNG PERSON IS INVOLVED IN SOME OF OUR OTHER PROGRAMS, WE STILL WANT THOSE WHO HAVE BEEN IN FOSTER CARE TO ENGAGE WITH THEIR PEERS WHO HAVE SHARED EXPERIENCES.

    Expenses $563,048

  • FINANCIAL EMPOWERMENT: FINANCIAL EMPOWERMENT IS THE KEY TO FINANCIAL LITERACY AND SELF-SUFFICIENCY. PROGRAM PARTICIPANTS GAIN SKILLS AND KNOWLEDGE TO SAVE MONEY, SPEND WISELY, AND BUILD CREDIT AND ASSETS. THEY ALSO CAN RECEIVE FUNDS TO MATCH THEIR OWN SAVINGS TO ASSIST THEM IN PURCHASING VEHICLES, PAYING FOR HOUSING, OR COVERING OTHER SIGNIFICANT EXPENSES.

    Expenses $322,860

  • EDUCATIONAL SUCCESS: EDUCATIONAL SUCCESS LOOKS DIFFERENT FOR EACH PERSON. THROUGH A COMPREHENSIVE SERIES OF EDUCATIONAL SUPPORT PROGRAMS, PARTICIPANTS CAN ACCESS SUPPORT TO NAVIGATE THEIR JOURNEY FROM HIGH SCHOOL TO COLLEGE AND THROUGH THE VARIOUS CHALLENGES THAT COME ALONG WITH EACH STEP.

    Expenses $2,897,349 · Grants $2,540,187

  • WORKFORCE READINESS. WORKFORCE READINESS MEANS ENSURING THAT OUR YOUNG PEOPLE HAVE CLEAR AND SUPPORTIVE PATHS TO GOOD AND PROMISING JOBS. UNEMPLOYMENT IS A SIGNIFICANT PROBLEM FOR THOSE WHO HAVE EXPERIENCED FOSTER CARE. JUST 51% OF CURRENT OR FORMER FOSTER YOUTH REPORT BEING EMPLOYED AT AGE 21, COMPARED TO 61% OF THEIR NON-FOSTER CARE PEERS.HEALTH & WELL-BEING. WE KNOW THAT THE HEALTH AND WELL-BEING OF A YOUNG PERSON IS NOT SIMPLY DEPENDENT ON THE CHOICES THEY MAKE. THERE ARE COMPLEX CONDITIONS, LIKE WHERE THEY LIVE, WORK, LEARN, AND PLAY, THAT AFFECT THEM, TOO. WE STRIVE TO MAKE SURE EVERY YOUNG PERSON CAN MEET THEIR MOST BASIC NEEDS. WE PROVIDE 1:1 REFERRALS AND REAL CONNECTIONS TO COMMUNITY RESOURCES INCLUDING: DOCUMENTATION, HOUSING, FINANCIAL SUPPORT, FOOD, HYGIENE ITEMS, TRANSPORTATION, MEDICAL & HEALTH NEEDS, AND SELF-ADVOCACY.

    Expenses $676,605

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Marie Cameron

    TREASURER

    Total calculated
    $0
    Hours/week
    1
  • Kate Hussey

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1
  • Danny Kibble

    PAST BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1
  • Megan Savage

    SECRETARY

    Total calculated
    $0
    Hours/week
    1
  • John Totten

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1
  • Katie Jackson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Caroline Hoy

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Barath Raman

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Morgan Rumple-Whiting

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Mike Brady

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Shontrai Irving

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Amber Williams

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Maggie Stevens PhD

    CEO/PRESIDENT

    Total calculated
    $146,874
    From this org
    $125,926
    From related orgs
    $0
    Other
    $20,948
    Hours/week
    40
  • Monika Mala PhD

    CHIEF OPERATIONS OFFICER

    Total calculated
    $100,016
    From this org
    $100,016
    From related orgs
    $0
    Other
    $0
    Hours/week
    40
  • Travis Tester Ma CFRE

    CHIEF DEVELOPMENT/COMMUNICATIONS OFFICER

    Total calculated
    $117,168
    From this org
    $104,825
    From related orgs
    $0
    Other
    $12,343
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
16 January 2025
IRS schema version
2023v6.0
Source object
202510219349300316

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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