Fosterus

Analysis

Fosterus is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in July 2020, 6 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Fosterus reported income of $2.5m and spending of $1.9m, leaving 25% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $1.3m to $2.5m (+88%), an average of +88% a year. The sharpest change came in the year to December 2023, when income rose by 88%. Over the whole period it spent 59% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Fosterus sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within NC. Charities of a similar size with the same main cause include Childrens Odyssey ($2.5m), Gateways Access to Jewish Education Inc ($2.5m) and Research for Better Schools Inc ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% and program service revenue 13% of the total. Other salaries and wages came to $71k. At year end it held assets of $1.6m against liabilities of $0, net assets of $1.6m. It reported 2 employees.