Foster Love Ministries

Analysis

Foster Love Ministries is a registered charity in United States, based in Brunswick, GA. It received its IRS tax-exemption ruling in December 2018, 8 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 2023, Foster Love Ministries reported income of $261k and spending of $253k, spending 97% of its income. Across the 2 years on record, from June 2022 to June 2023, income grew from $181k to $261k (+44%), an average of +44% a year. The sharpest change came in the year to June 2023, when income rose by 44%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Foster Love Ministries sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 63rd percentile within GA. Charities of a similar size with the same main cause include Lynne Cohen Foundation for Ovarian Cancer Research ($260k), Help Housing for the Disabled ($261k) and Christ Child Society of Naples ($260k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 9.1% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $41k (16% of expenses). Other salaries and wages came to $68k. At year end it held assets of $84k against liabilities of $27k, net assets of $57k. It reported 10 employees.