Fostering Solutions
- Assets
- $714.7k
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 21
- Location
- Adrian, MI
- Founding
- 10/2014
- Data as of
- 09/2023
- EIN
- 46-4607029
Organization Overview
Fostering Solutions is located in Adrian, MI. The organization was established in 2014. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 09/2023, Fostering Solutions employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fostering Solutions 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 09/2023, Fostering Solutions generated $1.3m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $1.5m during the year ending 09/2023. 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
THE PURPOSE OF THE ORGANIZATION IS TO PROVIDE CHILD WELFARE AND SUPPORTING SERVICES TO CHILDREN, FAMILIES, AND INDIVIDUALS WORKING AND LIVING IN MICHIGAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE ARE DEDICATED TO RECRUITING, TRAINING, AND SUPPROTING LICENSED FOSTER FAMILIES; AND ALSO MATCHING ADOPTIVE FAMILIES WITH CHILDREN WATING FOR A FOREVER HOME. PROVIDING INDIVIDUAL, FAMILY, COUPLES, AND GROUP COUNSELING SESSIONS TO ANYONE IN THE COMMUNITY SEEKING HELP, UNDERSTANDING AND SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Morgan Guerrero Member | Trustee | 0.5 | $0 |
Jessica Patterson Member | Trustee | 0.5 | $0 |
Andrea Reichel Member | Trustee | 0.5 | $0 |
John Bailey Executive Di | Officer | 40 | $0 |
Kristen Brown President/tr | Officer | 0.5 | $0 |
Elliot Snyder Secretary | Officer | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,800 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,800 |
| Total Program Service Revenue | $1,337,221 |
| Investment income | $2,672 |
| 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 | $1,344,797 |
| 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 | $711,033 |
| Pension plan accruals and contributions | $16,501 |
| Other employee benefits | $0 |
| Payroll taxes | $59,045 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,885 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10 |
| Advertising and promotion | $65 |
| Office expenses | $21,164 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $36,000 |
| Travel | $40,106 |
| 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 | $1,445 |
| Insurance | $80,972 |
| All other expenses | $11,936 |
| Total functional expenses | $1,452,446 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $44,771 |
| Savings and temporary cash investments | $206,080 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $219,984 |
| 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 | $0 |
| Net Land, buildings, and equipment | $6,849 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $236,968 |
| Total assets | $714,652 |
| Accounts payable and accrued expenses | $37,833 |
| 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 | $263,276 |
| Total liabilities | $301,109 |
| Net assets without donor restrictions | $413,543 |
| 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 | $714,652 |