Sherwood & Myrtie Foster Home For Children
- Assets
- $11.3m
- Revenue
- $5.8m
- Investments
- $309.2k
- Employees
- 70
- Location
- Stephenville, TX
- Founding
- 12/1972
- Data as of
- 08/2021
- EIN
- 75-1377874
Organization Overview
Sherwood & Myrtie Foster Home For Children is located in Stephenville, TX. The organization was established in 1972. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. As of 08/2021, Sherwood & Myrtie Foster Home For Children employed 70 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sherwood & Myrtie Foster Home For Children 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 08/2021, Sherwood & Myrtie Foster Home For Children generated $5.8m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $5.6m during the year ending 08/2021. 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 CHILD CARE AND FOSTER CARE CHILD PLACEMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHILD CARE AND FOSTER CARE CHILD PLACEMENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lacy Barton Vice President | Officer | 1 | $84,958 |
Harriet Frazier Vice President | Officer | 1 | $84,957 |
Glenn Newberry Past President | Officer | 1 | $76,095 |
Brawnson Oliver Vice President | Officer | 1 | $72,358 |
Doug Young President / CEO | Officer | 1 | $53,768 |
Steve Smith Vice Chairman | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $249,994 |
| Related organizations | $407,188 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,867,598 |
| Noncash contributions included in lines 1a–1f | $853,807 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,524,780 |
| Total Program Service Revenue | $1,088,271 |
| Investment income | $2,573 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,690 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $151,261 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,786,613 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,377,151 |
| 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 | $2,055,702 |
| Pension plan accruals and contributions | $167,068 |
| Other employee benefits | $186,541 |
| Payroll taxes | $166,028 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,573 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,784 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $237,832 |
| Travel | $21,242 |
| 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 | $460,005 |
| Insurance | $185,208 |
| All other expenses | $203,030 |
| Total functional expenses | $5,618,436 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $866,757 |
| Pledges and grants receivable | $252,186 |
| Accounts receivable, net | $5,000 |
| 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 | $13,045 |
| Net Land, buildings, and equipment | $9,262,984 |
| Investments—publicly traded securities | $22,611 |
| Investments—other securities | $309,164 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $600,000 |
| Total assets | $11,331,747 |
| Accounts payable and accrued expenses | $41,738 |
| 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 | $45,786 |
| Total liabilities | $87,524 |
| Net assets without donor restrictions | $11,242,840 |
| Net assets with donor restrictions | $1,383 |
| 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 | $11,331,747 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Sherwood & Myrtie Foster Home For Children has recieved totaling $16,000.
| Awarding Organization | Amount |
|---|---|
Vest Family Foundation Kermit, TX PURPOSE: FOSTER CARE ASSISTANCE | $16,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Buckner International Dallas, TX | $12,129,357 | $21,781,250 |
Arkansas Enterprises For The Developmentally Disabled Inc Little Rock, AR | $11,004,956 | $14,277,062 |
Military Warriors Support Foundation San Antonio, TX | $26,095,499 | $9,501,589 |
Caritas Of Austin Austin, TX | $7,645,786 | $15,511,664 |
Integrity Inc Little Rock, AR | $13,609,813 | $15,573,168 |
Mission Of Mercy Inc Corpus Christi, TX | $7,577,811 | $11,960,672 |
Life Styles Inc Fayetteville, AR | $7,250,362 | $10,687,117 |
Independent Living Resource Center Albuquerque, NM | $3,325,195 | $9,733,666 |
Advo Companies Inc Amarillo, TX | $2,717,648 | $8,744,385 |
Arkansas Family Supports Inc Fort Smith, AR | $6,002,199 | $9,109,380 |
Carc Inc Lake Charles, LA | $11,579,586 | $7,309,580 |
Nonviolence Works Inc Taos, NM | $1,929,520 | $7,008,447 |