Fostering Family Hope

Analysis

Fostering Family Hope is a registered charity in United States, based in Madison, CT. It received its IRS tax-exemption ruling in September 2021, 5 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, Fostering Family Hope reported income of $64k and spending of $88k, spending 137% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $78k to $64k (-18%), an average of -18% a year. The sharpest change came in the year to December 2023, when income dropped by 18%. Over the whole period it spent 108% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Fostering Family Hope sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 25th percentile, and in the 23rd percentile within CT. Charities of a similar size with the same main cause include Life Academy Romania Inc ($64k), Society of St Vincent de Paul Council of Northern Kentucky Inc ($64k) and Homes of Hope of Bedford County Inc ($64k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 96% of the total. At year end it held assets of $10k against liabilities of $0, net assets of $10k.