Fostering Family

Analysis

Fostering Family is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in May 2019, 7 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 June 2024, Fostering Family reported income of $539k and spending of $957k, spending 178% of what it took in. Across the 4 years on record, from June 2021 to June 2024, income grew from $310k to $539k (+74%), an average of +20% a year. The sharpest change came in the year to June 2022, when income rose by 95%. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Fostering Family sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 76th percentile within TX. Charities of a similar size with the same main cause include Steuben County Economic Development Corporation ($538k), New Orleans Startup Fund Inc ($539k) and Short North Special Improvement District Inc ($537k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 97% and program service revenue 2.6% of the total. Compensation of current officers, directors and key employees was $101k (11% of expenses). Other salaries and wages came to $509k. At year end it held assets of $151k against liabilities of $21k, net assets of $130k. It reported 13 employees.