Foster Family Foundation
- Assets
- $344.1k
- Revenue
- $22.5k
- Investments
- $0.0
- Employees
- 0
- Location
- St Clair, MI
- Founding
- 08/2007
- Data as of
- 12/2021
- EIN
- 20-3439954
Organization Overview
Foster Family Foundation is located in St Clair, MI. The organization was established in 2007. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foster Family Foundation 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 12/2021, Foster Family Foundation generated $22.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $34.8k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Foster Family Foundation has awarded 64 individual grants totaling $265,300. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS AWARDED TO DESERVING HIGH SCHOOL STUDENTS AS SELECTED BY AN INDEPENDENT COMMITTEE, IN ORDER TO PROVIDE ASSISTANCE IN OBTAINING HIGHER EDUCATION. IF ANY COMMITTEE MEMBER IS RELATED TO A POTENTIAL RECIPIENT, THAT COMMITTEE MEMBER IS EXCLUDED FROM THE SELECTION PROCESS FOR THAT STUDENT. INPUT IS SOLICITED FROM HIGH SCHOOL COUNSELORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marjorie Cummins Sec/treas | 1 | $0 | |
John Foster Vice President | 1 | $0 | |
Harold Burns Director | 1 | $0 | |
Virginia Foster President | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,322 |
| Interest on Savings | $4 |
| Dividends & Interest | $4,609 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $16,593 |
| Capital Gain Net Income | $16,593 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $22,528 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $60 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $20 |
| Total operating and administrative expenses | $1,806 |
| Contributions, gifts, grants paid | $33,000 |
| Total expenses and disbursements | $34,806 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,944 |
| Savings and temporary cash investments | $309,205 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $344,149 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Foster Family Foundation has awarded $33,000 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
KYLE BORGACZ PURPOSE: SCHOLARSHIP | $10,000 |
MITCHELL FITZIMONS PURPOSE: SCHOLARSHIP | $3,000 |
AUSTIN WARN PURPOSE: SCHOLARSHIP | $3,000 |
ASHLEY TELTOW PURPOSE: SCHOLARSHIP | $2,000 |
JAELYN AMHDAR PURPOSE: SCHOLARSHIP | $2,000 |
CAMERON BARRETT PURPOSE: SCHOLARSHIP | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John Joseph Sigstein Foundation Inc Huntington, IN | $0 | $2,327,854 |
Herrick Foundation Detroit, MI | $135,749,323 | $10,836,296 |
Wexner Foundation New Albany, OH | $6,442,852 | $9,976,190 |
We Energies Foundation Inc Milwaukee, WI | $74,423,525 | $6,027,785 |
The Samuel And Jean Frankel Fine Arts Foundation Bloomfield Hills, MI | $136,493,173 | $6,844,673 |
Bill & Julia Van Domelen Foundation Kalamazoo, MI | $132,053,109 | $12,849,321 |
Hcs Foundation Cleveland, OH | $105,976,263 | $7,902,405 |
Manoogian Simone Foundation Dearborn, MI | $47,087,292 | $4,923,874 |
Consumers Energy Foundation Jackson, MI | $77,869,075 | $10,169,744 |
The Ceres Trust Milwaukee, WI | $8,473,497 | $7,541,315 |
New Jci Foundation Inc Milwaukee, WI | $45,616,522 | $3,307,387 |
Marge & Charles J Schott Foundation Cincinnati, OH | $96,968,868 | $11,169,832 |