Fostering Futures

Analysis

Fostering Futures is a registered charity in United States, based in Ann Arbor, MI. It received its IRS tax-exemption ruling in July 2010, 16 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, Fostering Futures reported income of $2.5m and spending of $2.2m, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $2.5m (+102%), an average of +19% a year. The sharpest change came in the year to December 2022, when income rose by 40%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Fostering Futures sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within MI. Charities of a similar size with the same main cause include Northwest Georgia Family Crisis Center Inc ($2.5m), Kidwatch Plus Inc ($2.5m) and Brevard Homeless Coalition Inc ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $245k (11% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $1.8m against liabilities of $912k, net assets of $869k. It reported 41 employees.