Fostering Great Ideas
- Assets
- $841.1k
- Revenue
- $808.5k
- Investments
- $0.0
- Employees
- 14
- Location
- Greenville, SC
- Founding
- 03/2011
- Data as of
- 12/2023
- EIN
- 27-4622960
Organization Overview
Fostering Great Ideas is located in Greenville, SC. The organization was established in 2011. According to its NTEE Classification (P32) the organization is classified as: Foster Care, under the broad grouping of Human Services and related organizations. As of 12/2023, Fostering Great Ideas employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fostering Great Ideas 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 12/2023, Fostering Great Ideas generated $808.5k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.8% each year . All expenses for the organization totaled $576.1k during the year ending 12/2023. While expenses have increased by 13.3% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE LIVES OF CHILDREN AS THEY STRUGGLE IN FOSTER CARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SIB-LINK: WHEN REMOVED FROM THEIR HOMES, SIBLINGS IN FOSTER CARE ARE OFTEN SEPARATED FROM EACH OTHER. SIBLING BONDS, ESPECIALLY IN THOSE KIDS WHO HAVE FACED TRAUMA, ARE SOME OF THE MOST IMPORTANT BONDS IN THEIR LIVES. SIB-LINK EXISTS TO KEEP THIS CONNECTION STRONG AND REDUCE FURTHER TRAUMA BY PROVIDING ADDITIONAL REGULAR VISITS FOR THESE CHILDREN.
LIFE SUPPORT: STATISTICS FOR TEENS WHO AGE OUT OF FOSTER CARE ARE BLEAK. WE BELIEVE OUR COMMUNITY CAN REVERSE THESE BLEAK STATISTICS BY MATCHING TEENS WITH ADULT MENTORS TO PROVIDE ONGOING EMOTIONAL SUPPORT AND GUIDANCE. LIFE SUPPORT MENTORS COMMIT TO VISITING A YOUTH IN FOSTER CARE TWICE PER MONTH, AND THIS IS OFTEN A MULTI-YEAR COMMITMENT. MENTORS ACTIVELY LISTEN TO HOPES, FEARS, AND DREAMS. THEY BECOME AN IMPORTANT PART OF THE CHILD'S JOURNEY TOWARDS BETTER OUTCOMES.
ASPIRE: WHEN YOUTH AGE OUT OF FOSTER CARE, THERE ARE SIGNIFICANT CHALLENGES. THEY ARE OFTEN ON THEIR OWN, LACKING FAMILY SUPPORT FOR THEIR JOURNEY. MANY STUDENTS WORK TO SUPPORT THEMSELVES, AND IF THEY ATTEND COLLEGE, THEY ARE LIVING PAYCHECK TO PAYCHECK AND HAVE EXCESSIVE FINANCIAL PRESSURE. THE ADDED FINANCIAL STRESS TO MAINTAIN COLLEGE HOUSING CAN ADD SIGNIFICANT PRESSURE TO THESE YOUTH IN COLLEGE. MANY YOUTH WILL FALL BEHIND IN THEIR ACADEMICS AND LOSE HOPE WITHOUT A CARING AND CONSISTENT ADULT TO ENCOURAGE GOAL-SETTING AND PLANNING FOR NEXT STEPS AFTER HIGH SCHOOL. ASPIRE ENCOURAGES YOUTH TO GRADUATE FROM HIGH SCHOOL AND THEN ATTEND AND EXCEL IN COLLEGE BY PROVIDING ACCOUNTABILITY AND SUPPORT THROUGHOUT THEIR ACADEMIC EXPERIENCE. THROUGH CONSISTENT MEETINGS WITH OUR EDUCATION ADVOCATE AND PEER GATHERINGS FOCUSED ON TEAM-BUILDING, YOUTH BEGIN TO VISUALIZE A FUTURE FOR THEMSELVES. THEY GRADUATE FROM HIGH SCHOOL, APPLY TO COLLEGE PROGRAMS, AND FIND THEIR OWN PATHWAY TO SUCCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelly Scheib Chair | OfficerTrustee | 4 | $0 |
Lonnie Decker Director | Trustee | 3 | $0 |
Amy Karmilovich Secretary | OfficerTrustee | 3 | $0 |
Joe Turner Director | Trustee | 3 | $0 |
Selden Peden JD Director | Trustee | 3 | $0 |
Pam Prashad Treasurer | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $20,000 |
| Membership dues | $0 |
| Fundraising events | $109,380 |
| Related organizations | $0 |
| Government grants | $50,738 |
| All other contributions, gifts, grants, and similar amounts not included above | $633,859 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $813,977 |
| Total Program Service Revenue | $9,682 |
| Investment income | $13,799 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$13,471 |
| Net Income from Fundraising Events | -$15,515 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $808,472 |
| 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. | $58,413 |
| Compensation of current officers, directors, key employees. | $7,010 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $329,538 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $29,975 |
| 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 | $1,458 |
| Fees for services: Other | $7,309 |
| Advertising and promotion | $5,564 |
| Office expenses | $4,562 |
| Information technology | $9,136 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $24,330 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,698 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $31,373 |
| All other expenses | $5,684 |
| Total functional expenses | $576,094 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,828 |
| Savings and temporary cash investments | $96,702 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $704,550 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $841,080 |
| Accounts payable and accrued expenses | $18,009 |
| 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 | $0 |
| Total liabilities | $18,009 |
| Net assets without donor restrictions | $0 |
| 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 | $823,071 |
| Total liabilities and net assets/fund balances | $841,080 |