Foster Forward
- Assets
- $5.3m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 40
- Location
- East Providence, RI
- Founding
- 04/1996
- Data as of
- 09/2023
- EIN
- 05-0486797
Organization Overview
Foster Forward is located in East Providence, RI. The organization was established in 1996. According to its NTEE Classification (P70) the organization is classified as: Residential Care & Adult Day Programs, under the broad grouping of Human Services and related organizations. As of 09/2023, Foster Forward employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foster Forward 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, Foster Forward generated $2.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.8%) each year. All expenses for the organization totaled $2.9m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (2.5%) per year over the past 8 years. 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
FOSTER FORWARD'S MISSION IS TO EMPOWER LIVES IMPACTED BY FOSTER CARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE EDUCATIONAL, MENTORING AND OTHER FORMS OF SUPPORT TO FAMILIES THAT PROVIDE FOSTER CARE TO CHILDREN, AND TO HELP FOSTER CHILDREN RECONNECT WITH IMPORTANT PEOPLE IN THEIR LIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick T Lebeau President | OfficerTrustee | 1 | $0 |
Stephanie Sleeper Vice President | OfficerTrustee | 1 | $0 |
David Pellegrino Treasurer | OfficerTrustee | 1 | $0 |
Luciana Rivera Secretary | OfficerTrustee | 1 | $0 |
John Conforti Board Member | Trustee | 1 | $0 |
Edythe M Demarco Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,315,329 |
| All other contributions, gifts, grants, and similar amounts not included above | $60,605 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,375,934 |
| Total Program Service Revenue | $99,306 |
| Investment income | $31,169 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $247,473 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,779,504 |
| 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. | $131,230 |
| Compensation of current officers, directors, key employees. | $13,123 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $867,693 |
| Pension plan accruals and contributions | $22,008 |
| Other employee benefits | $159,257 |
| Payroll taxes | $85,508 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $0 |
| Advertising and promotion | $154,152 |
| Office expenses | $38,679 |
| Information technology | $38,254 |
| Royalties | $0 |
| Occupancy | $114,171 |
| Travel | $4,960 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,611 |
| Interest | $28,518 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $71,501 |
| Insurance | $49,132 |
| All other expenses | $246,302 |
| Total functional expenses | $2,869,055 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $327,165 |
| Savings and temporary cash investments | $738,456 |
| Pledges and grants receivable | $500,505 |
| Accounts receivable, net | $0 |
| 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 | $6,693 |
| Net Land, buildings, and equipment | $2,541,703 |
| Investments—publicly traded securities | $1,214,282 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,328,804 |
| Accounts payable and accrued expenses | $165,851 |
| Grants payable | $0 |
| Deferred revenue | $987,034 |
| 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 | $659,910 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,812,795 |
| Net assets without donor restrictions | $3,210,649 |
| Net assets with donor restrictions | $305,360 |
| 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 | $5,328,804 |
Grants Awarded
Over the last fiscal year, Foster Forward has awarded $146,146 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
COLUMBIA UNIVERSITY PURPOSE: Works Womders | $140,146 |
RHODE ISLAND COLLEGE PURPOSE: Works Wonders | $6,000 |