Fostering Futures
- Assets
- $1.8m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 41
- Location
- Ann Arbor, MI
- Founding
- 07/2010
- Data as of
- 12/2023
- EIN
- 27-0267132
Organization Overview
Fostering Futures is located in Ann Arbor, MI. The organization was established in 2010. According to its NTEE Classification (P32) the organization is classified as: Foster Care, under the broad grouping of Human Services and related organizations. As of 12/2023, Fostering Futures employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fostering Futures 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 12/2023, Fostering Futures generated $2.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $2.2m during the year ending 12/2023. While expenses have increased by 2.9% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A SAFE, HEALTHY, INFORMED AND SUPPORTIVE ENVIRONMENT WHERE ALL PEOPLE CAN GROW AND THRIVE
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOSTERING FUTURES IS A NON-PROFIT CHILD PLACEMENT AGENCY FOUNDED ON A STRONG COMMITMENT TO PROVIDING THE BEST SERVICES TO CHILDREN AND FAMILIES IN THE FOSTER CARE SYSTEM. IT PROVIDES A SAFE HAVEN FOR ALL THAT RECEIVE SERVICES OR EMPLOYMENT UNDER ITS NAME. ITS PHILOSOPHY IS BASED ON THE FOUNDATION OF SOUND CLINICAL PRACTICE AND A GOAL TO MEET THE THERAPEUTIC NEEDS OF CHILDREN AND THEIR FAMILIES WITH A SYSTEMATIC AND PSYCHOTHERAPEUTIC APPROACH TO TREATMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brittany Valliere CFO | Officer | 40 | $110,633 |
Jennifer Milliman Executive Director | Officer | 40 | $110,382 |
Sarah Hoerauf Secretary | OfficerTrustee | 1 | $0 |
Scott Noesen President Treasurer | OfficerTrustee | 1 | $0 |
Ann Arbaugh Member At Large | Trustee | 1 | $0 |
Marina Fienup Member At Large | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,411,310 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,032 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,426,342 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $2,465,568 |
| 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. | $245,419 |
| Compensation of current officers, directors, key employees. | $208,644 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,189,479 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $101,085 |
| Payroll taxes | $114,768 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $36,896 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $72,783 |
| Advertising and promotion | $0 |
| Office expenses | $44,040 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $129,856 |
| Travel | $106,088 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,562 |
| Interest | $60 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,644 |
| Insurance | $66,260 |
| All other expenses | $78,162 |
| Total functional expenses | $2,198,102 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $391,248 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $522,786 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $48,506 |
| Net Land, buildings, and equipment | $43,320 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $775,163 |
| Total assets | $1,781,023 |
| Accounts payable and accrued expenses | $100,150 |
| 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 | $4,298 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $807,610 |
| Total liabilities | $912,058 |
| Net assets without donor restrictions | $868,965 |
| 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 | $1,781,023 |