The Foster Closet Corp

Analysis

The Foster Closet Corp is a registered charity in United States, based in Jacksonville, FL. It received its IRS tax-exemption ruling in April 2009, 17 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Foster Closet Corp reported income of $643k and spending of $586k, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $614k to $643k (+4.9%), an average of +1.2% a year. The sharpest change came in the year to December 2021, when income dropped by 34%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Foster Closet Corp sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 76th percentile within FL. Charities of a similar size with the same main cause include Institute for China-America Studies ($643k), American Friends of Magen Lecholeh Inc ($643k) and Austin Justice Coalition ($643k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $74k. At year end it held assets of $507k against liabilities of $60k, net assets of $447k. It reported 6 employees.