New Foster Care Inc

Analysis

New Foster Care Inc is a registered charity in United States, based in Bloomfield Hills, MI. It received its IRS tax-exemption ruling in April 2017, 9 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, New Foster Care Inc reported income of $4.7m and spending of $3.1m, leaving 34% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.5m to $4.7m (+219%), an average of +34% a year. The sharpest change came in the year to December 2022, when income rose by 921%. Over the whole period it spent 55% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, New Foster Care Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within MI. Charities of a similar size with the same main cause include Northeast Missouri Area Agency on Aging ($4.7m), The Heights Ellis County Family Resources Inc ($4.7m) and Landmarks for Families Inc ($4.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% of the total. Compensation of current officers, directors and key employees was $146k (4.7% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $6.7m against liabilities of $53k, net assets of $6.7m. It reported 33 employees.