Fostering Acadia

Analysis

Fostering Acadia is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in June 2019, 7 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2022, Fostering Acadia reported income of $4.2m and spending of $4.0m, spending 94% of its income. Across the 4 years on record, from June 2019 to June 2022, income grew from $1.6m to $4.2m (+165%), an average of +38% a year. The sharpest change came in the year to June 2021, when income rose by 87%. Over the whole period it spent 88% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Fostering Acadia sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within VA. Charities of a similar size with the same main cause include Rockingham Nutrition & Meals on Wheels Program ($4.2m), Chinese Consolidated Benevolent Association of New England ($4.2m) and Sholom Foundation ($4.2m).

On its Form 990 for the period ending June 2022, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $256k (6.4% of expenses). Other salaries and wages came to $807k. At year end it held assets of $1.7m against liabilities of $83k, net assets of $1.6m. It reported 23 employees.