The Foster Closet Corp
- Assets
- $449.2k
- Revenue
- $372.2k
- Investments
- $0.0
- Employees
- 5
- Location
- Jacksonville, FL
- Founding
- 04/2009
- Data as of
- 12/2021
- EIN
- 26-2931033
Organization Overview
The Foster Closet Corp is located in Jacksonville, FL. The organization was established in 2009. According to its NTEE Classification (P60) the organization is classified as: Emergency Assistance, under the broad grouping of Human Services and related organizations. As of 12/2021, Foster Closet Corp employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foster Closet Corp is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Foster Closet Corp generated $372.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 22.1% each year . All expenses for the organization totaled $384.3k during the year ending 12/2021. While expenses have increased by 19.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION PROVIDES CLOTHING,SCHOOL SUPPLIES, CAR SEATS, CHRISTMAS GIFTS AND BASIC HOME LIVING ESSENTIALS TO FOSTER CHILDREN IN 5 SURROUNDING COUNTIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES CLOTHING, SCHOOL SUPPLIES, CAR SEATS, CHRISTMAS GIFTS AND BASIC HOME LIVING ESSENTIALS TO FOSTER CHILDREN IN 5 SURROUNDING COUNTIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tammy Mcguire President | OfficerTrustee | 35 | $44,000 |
John Mcguire Vice President | OfficerTrustee | 2 | $0 |
Name Not Listed Treasurer | OfficerTrustee | 2 | $0 |
Jessica Bradstreet Secretary | OfficerTrustee | 2 | $0 |
Eric Bradsteet Director | Trustee | 2 | $0 |
John Albritton Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,375 |
| Related organizations | $0 |
| Government grants | $88,550 |
| All other contributions, gifts, grants, and similar amounts not included above | $282,193 |
| Noncash contributions included in lines 1a–1f | $184,066 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $372,118 |
| Total Program Service Revenue | $0 |
| Investment income | $90 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $372,208 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $44,000 |
| Compensation of current officers, directors, key employees. | $44,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,720 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,380 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,596 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,934 |
| Office expenses | $1,277 |
| Information technology | $5,972 |
| Royalties | $0 |
| Occupancy | $54,745 |
| Travel | $770 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $9,739 |
| All other expenses | $31,442 |
| Total functional expenses | $384,292 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $74,324 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $60,000 |
| Inventories for sale or use | $299,170 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,720 |
| Total assets | $449,214 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $95,880 |
| Total liabilities | $95,880 |
| Net assets without donor restrictions | $353,334 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $449,214 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that The Foster Closet Corp has recieved totaling $16,930.
| Awarding Organization | Amount |
|---|---|
Magis Charitable Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $10,000 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $6,388 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $542 |
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