Forkids Inc
- Assets
- $30.4m
- Revenue
- $15.6m
- Investments
- $0.0
- Employees
- 141
- Location
- Chesapeake, VA
- Founding
- 05/1989
- Data as of
- 06/2021
- EIN
- 54-1477799
Organization Overview
Forkids Inc is located in Chesapeake, VA. The organization was established in 1989. According to its NTEE Classification (L41) the organization is classified as: Homeless Shelters, under the broad grouping of Housing & Shelter and related organizations. As of 06/2021, Forkids Inc employed 141 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Forkids 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 06/2021, Forkids Inc generated $15.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $13.9m during the year ending 06/2021. While expenses have increased by 12.6% per year over the past 6 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
TO PROVIDE EDUCATION, HOUSING AND OTHER ASSISTANCE NEEDED TO HOMELESS FAMILIES IN TRANSITION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FORKIDS HELPS FAMILIES LOCATE HOUSING THAT FITS THEIR NEEDS WHILE CASE MANAGEMENT HELPS THEM SET AND ACHIEVE LONG-TERM GOALS. ASSISTANCE WITH RENT AND OTHER HOUSING-RELATED CHALLENGES ALLOWS FAMILIES TO PAY DOWN DEBT, SECURE RELIABLE CHILDCARE AND TRANSPORTATION, EXPLORE EDUCATION AND TRAINING OPTIONS AND PLAN FOR A SECURE FINANCIAL FUTURE. FOR THE YEAR ENDED JUNE 30, 2021, 208 HOUSEHOLDS WITH 492 CHILDREN OBTAINED HOUSING STABILIZATION SERVICES AND ESTABLISHED REALISTIC GOALS FOR THE FUTURE. FOR THE YEAR ENDED JUNE 30, 2020, 213 HOUSEHOLDS WITH 509 CHILDREN OBTAINED HOUSING STABILIZATION SERVICES AND ESTABLISHED REALISTIC GOALS FOR THE FUTURE.
THE HOUSING CRISIS HOTLINE, OPERATED BY FORKIDS, SERVES AS THE CENTRAL POINT OF INTAKE FOR INDIVIDUALS AND HOUSEHOLDS EXPERIENCING A HOUSING CRISIS, ANSWERING 58,000 CALLS IN FY21. INTAKE SPECIALISTS CONNECT CALLERS TO ANY ONE OF HUNDREDS OF PUBLIC AND PRIVATE RESOURCES THROUGHOUT SOUTHEASTERN VIRGINIA, ASSESSING OPPORTUNITIES FOR DIVERSION FROM HOMELESSNESS WHENEVER POSSIBLE. FORKIDS' EXTENDED SERVICES, SPANNING 14 LOCALITIES AND OVER 3,000 SQUARE MILES, IMPACTED NEARLY 70,000 PEOPLE IN FY21.
THE EDUCATION TEAM AT FORKIDS ENSURES EVERY STUDENT HAS THE BEST CHANCE TO NOT JUST SUCCEED IN SCHOOL, BUT TO EXCEL. ACADEMIC PROGRAMS MEASURABLY CLOSE ACHIEVEMENT GAPS WHILE ENRICHMENT ACTIVITIES REINFORCE LEARNING AND ENHANCE SOCIAL EMOTIONAL COMPETENCIES. SUMMER PROGRAMS TEACH LIFE SKILLS AND SERVICE LEARNING TO STUDENTS AND PREPARE PRE-KINDERGARTNERS FOR SCHOOL. FAMILY ENGAGEMENT ENHANCES PARENT INVOLVEMENT IN THEIR CHILDREN'S EDUCATION. ALL SCHOOL-AGE CHILDREN ARE MONITORED FOR CONTINUED SUCCESS. FORKIDS SUCCESSFULLY COMPLETED THE THIRD YEAR OF A THREE-YEAR 21ST CENTURY COMMUNITY LEARNING CENTERS GRANT FROM THE VIRGINIA DEPARTMENT OF EDUCATION AND WAS AWARDED CONTINUED FUNDING. FOR THE YEAR ENDED JUNE 30, 2021, 331 CHILDREN RECEIVED EDUCATION SERVICES AND 89% OF STUDENTS WERE PROMOTED TO THE NEXT GRADE AT THE END OF THE SCHOOL YEAR. FOR THE YEAR ENDED JUNE 30, 2020, 423 CHILDREN RECEIVED EDUCATION SERVICES AND 94% OF STUDENTS WERE PROMOTED TO THE NEXT GRADE AT THE END OF THE SCHOOL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thaler Mccormick Corporate Secretary/ceo | OfficerTrustee | 40 | $196,483 |
William Young Chief Operations Officer | Officer | 40 | $130,454 |
Boyd Orr Chief Financial Officer | Officer | 40 | $104,170 |
Kelly Sokol Chairman | OfficerTrustee | 5 | $0 |
George Faatz Vice Chair | OfficerTrustee | 5 | $0 |
Jenn Pfitzner Treasurer | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $344,391 |
| Membership dues | $0 |
| Fundraising events | $273,275 |
| Related organizations | $0 |
| Government grants | $9,784,054 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,764,857 |
| Noncash contributions included in lines 1a–1f | $370,347 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,166,577 |
| Total Program Service Revenue | $144,792 |
| Investment income | $98,430 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $77,027 |
| Net Income from Fundraising Events | $1,052,088 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $178 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,557,559 |
| 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. | $467,605 |
| Compensation of current officers, directors, key employees. | $223,923 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,873,331 |
| Pension plan accruals and contributions | $97,954 |
| Other employee benefits | $449,462 |
| Payroll taxes | $327,555 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $26,130 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $192,388 |
| Advertising and promotion | $4,325 |
| Office expenses | $403,188 |
| Information technology | $194,607 |
| Royalties | $0 |
| Occupancy | $328,708 |
| Travel | $31,553 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $29,425 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $328,682 |
| Insurance | $84,594 |
| All other expenses | $12,452 |
| Total functional expenses | $13,917,100 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,325,318 |
| Savings and temporary cash investments | $2,664,470 |
| Pledges and grants receivable | $3,636,196 |
| Accounts receivable, net | $320,941 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $60,003 |
| Prepaid expenses and deferred charges | $70,716 |
| Net Land, buildings, and equipment | $20,584,847 |
| Investments—publicly traded securities | $714,019 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,460 |
| Total assets | $30,389,970 |
| Accounts payable and accrued expenses | $1,247,241 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $10,071 |
| 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 | $23,006 |
| Total liabilities | $1,280,318 |
| Net assets without donor restrictions | $24,419,906 |
| Net assets with donor restrictions | $4,689,746 |
| 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 | $30,389,970 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Forkids Inc has recieved totaling $11,750.
| Awarding Organization | Amount |
|---|---|
Lions Club Of Norfolk Foundation Norfolk, VA PURPOSE: UNRESTRICTED | $9,000 |
The Kiwanis Club Of Norfolk Foundation Inc Norfolk, VA PURPOSE: GENERAL CHARITABLE | $2,750 |
Endowment Analysis
| Beg. Balance | $712,238 |
| Earnings | $197,652 |
| Net Contributions | $13,984 |
| Ending Balance | $923,874 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Helping Up Mission Incorporated Baltimore, MD | $36,151,019 | $24,482,350 |
Knox Area Rescue Ministries Knoxville, TN | $20,292,191 | $22,883,471 |
Friendship Place Washington, DC | $9,467,594 | $20,756,314 |
Nashville Rescue Mission Nashville, TN | $37,816,884 | $20,187,859 |
Forkids Inc Chesapeake, VA | $30,389,970 | $15,557,559 |
Central Union Mission Washington, DC | $25,037,840 | $16,629,553 |
New Hope Housing Inc Alexandria, VA | $4,724,081 | $13,222,867 |
House Of Ruth Washington, DC | $26,954,207 | $14,138,940 |
The Next Door Nashville, TN | $9,790,699 | $10,091,124 |
Hope Center Inc Lexington, KY | $15,963,477 | $9,458,031 |
Homeward Bound Of Western North Carolina Inc Asheville, NC | $7,613,383 | $7,947,393 |
The Light House Inc Annapolis, MD | $14,282,025 | $6,589,792 |