Foster Success Inc
- Assets
- $2.1m
- Revenue
- $5.0m
- Investments
- $0.0
- Employees
- 23
- Location
- Indianapolis, IN
- Founding
- 10/2012
- Data as of
- 06/2022
- EIN
- 45-5056874
Organization Overview
Foster Success Inc is located in Indianapolis, IN. The organization was established in 2012. According to its NTEE Classification (P30) the organization is classified as: Children & Youth Services, under the broad grouping of Human Services and related organizations. As of 06/2022, Foster Success Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foster Success Inc 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 06/2022, Foster Success Inc generated $5.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.5% each year . All expenses for the organization totaled $5.0m during the year ending 06/2022. While expenses have increased by 13.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
FOSTER YOUTH SUPPORT - SEE PART III LINE 1 FOR MISSION STATEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
YOUTH ENGAGEMENT: YOUTH AFFECTED BY FOSTER CARE HAVE MULTIPLE WAYS OF ENGAGING WITH FOSTER SUCCESS AND COMMUNITIES ACROSS INDIANA COMMUNITIES. THE INDIANA YOUTH ADVISORY BOARD (IYAB) PROVIDES A SPACE WHERE MORE HOOSIER FOSTER YOUTH LEND THEIR VOICE AND GIFTS TO IMPROVE INDIANA'S FOSTER CARE SYSTEM. ADDITIONALLY, YOUTH ENGAGEMENT PROGRAMS BUILD YOUTH VOICE, CREATE OPPORTUNITIES FOR ADVOCACY, AND DEVELOP AWARENESS AROUND ISSUES REGARDING OLDER FOSTER YOUTH.
FINANCIAL EMPOWERMENT: FOSTER SUCCESS SUPPORTS TEENS AND YOUNG ADULTS GROW THEIR FINANCIAL SKILLS AND KNOWLEDGE AS THEY TRANSITION OUT OF FOSTER CARE. PROGRAMS INCLUDE A SERIES OF SELF-GUIDED ONLINE CLASSES FOCUSED ON BANKING BASICS, MANAGING CREDIT AND DEBT, AND BUDGETING; CREDIT BUILD WHICH IS FOCUSED ON HELPING PARTICIPANTS BUILD AND REPAIR CREDIT; AND OPPORTUNITY PASSPORT - A FINANCIAL LITERACY COURSE THAT PROVIDES A 1:1 SAVINGS MATCH TO HELP YOUNG PEOPLE ACHIEVE MILESTONES INCLUDING PURCHASING THEIR FIRST CAR OR MOVING INTO THEIR FIRST APARTMENT.
EDUCATIONAL SUCCESS: FROM RESEARCH TO PRACTICE, FOSTER SUCCESS WORKS TO BUILD PATHWAYS FOR EDUCATIONAL SUCCESS FOR STUDENTS WHO HAVE EXPERIENCED FOSTER CARE. ONE OF THE PRIMARY PROGRAMS FOR THIS WORK IS THE INDIANA EDUCATION AND TRAINING VOUCHER PROGRAM (ETV) - A FEDERALLY FUNDED, STATE-ADMINISTERED PROGRAM THAT PROVIDES FINANCIAL AND ACADEMIC SUPPORT FOR YOUNG ADULTS TRANSITIONING OUT OF FOSTER CARE AND WHO ARE ENROLLED IN COLLEGES, UNIVERSITIES, OR VOCATIONAL PROGRAMS. WITH UP TO $5,000 AVAILABLE PER ELIGIBLE STUDENT EACH ACADEMIC YEAR, ETV HELPS YOUTH REALIZE THE DREAM OF A POST-SECONDARY DEGREE BY PROVIDING SUPPORT AND OFFSETTING EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Danny Kibble Vice Chair | OfficerTrustee | 1 | $0 |
Maggie Stevens CEO | OfficerTrustee | 40 | $0 |
Lolita Campbell Treasurer | OfficerTrustee | 1 | $0 |
Grace Worley Secretary | OfficerTrustee | 1 | $0 |
Freedom Smith Chair | OfficerTrustee | 1 | $0 |
James Banister Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Adp Tuition/dorm Expenses | 6/29/18 | $995,462 |
Vincennes University Tuition/dorm Expenses | 6/29/18 | $470,355 |
Worksmart Co-employment Service Provider | 6/29/18 | $694,669 |
Desired Creations Gift Baskets | 6/29/18 | $240,636 |
Best Buy Student Computers | 6/29/18 | $103,519 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,333,110 |
| All other contributions, gifts, grants, and similar amounts not included above | $686,048 |
| Noncash contributions included in lines 1a–1f | $2,084 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,019,158 |
| Total Program Service Revenue | $0 |
| Investment income | $5,164 |
| 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 | $5,024,322 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $950,910 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $136,175 |
| Payroll taxes | $82,291 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $50,416 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $295,683 |
| Advertising and promotion | $146,975 |
| Office expenses | $76,604 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $39,015 |
| Travel | $37,035 |
| 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 | $14,804 |
| Insurance | $11,479 |
| All other expenses | $7,371 |
| Total functional expenses | $4,982,502 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,179,187 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $794,432 |
| 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 | $6,359 |
| Net Land, buildings, and equipment | $133,736 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,825 |
| Total assets | $2,116,539 |
| Accounts payable and accrued expenses | $133,855 |
| Grants payable | $0 |
| Deferred revenue | $1,166,467 |
| 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 | $0 |
| Total liabilities | $1,300,322 |
| Net assets without donor restrictions | $816,217 |
| 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 | $2,116,539 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Foster Success Inc has recieved totaling $50,285.
| Awarding Organization | Amount |
|---|---|
United Way Of Central Indiana Inc Indianapolis, IN PURPOSE: Program and/or Operating Support | $47,804 |
United Way Of Central Indiana Inc Indianapolis, IN PURPOSE: Donor Choice | $2,481 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Whites Residential And Family Services Inc Wabash, IN | $39,956,832 | $19,808,843 |
Kids Above All Illinois Chicago, IL | $6,170,372 | $14,023,607 |
Catholic Charities Of Louisville Inc Louisville, KY | $10,972,807 | $15,581,081 |
Jackson County Community Childrens Service Fund Kansas City, MO | $22,334,800 | $14,345,673 |
Youth Service Bureau Of Illinois Valley Incorporated Ottawa, IL | $4,153,278 | $14,098,230 |
Gads Hill Center Chicago, IL | $12,791,437 | $15,113,158 |
Lutheran Family And Childrens Services Of Missouri St Louis, MO | $11,391,794 | $13,865,128 |
Ronald Mcdonald House Charities Of Chicagoland And Northwest Indiana Oak Brook, IL | $71,872,336 | $16,625,455 |
Bashor Home Of The United Methodist Church Inc Goshen, IN | $27,636,085 | $16,988,410 |
Night Ministry Chicago, IL | $17,470,779 | $11,762,279 |
Safe Families For Children Alliance Chicago, IL | $3,523,068 | $9,924,305 |
Kemmerer Village Assumption, IL | $56,706,341 | $12,349,244 |