Foster Adopt Connect Inc
- Assets
- $14.1m
- Revenue
- $20.8m
- Investments
- $0.0
- Employees
- 470
- Location
- Independence, MO
- Founding
- 09/2001
- Data as of
- 12/2023
- EIN
- 43-1895965
Organization Overview
Foster Adopt Connect Inc is located in Independence, MO. The organization was established in 2001. 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, Foster Adopt Connect Inc employed 470 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Foster Adopt Connect 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 12/2023, Foster Adopt Connect Inc generated $20.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 21.8% each year . All expenses for the organization totaled $21.9m during the year ending 12/2023. While expenses have increased by 23.8% per year over the past 8 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 PROVIDE FOSTER & ADOPTIVE CHILDREN A STABLE, LOVING & NURTURING FAMILY ENVIRONMENT BY SUPPORT & ADVOCACY FOR ABUSED & NEGLECTED CHILDREN & THE FAMILIES CARING FOR THEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Treasurer | OfficerTrustee | 1 | $0 |
Name Not Listed Vice Chair | OfficerTrustee | 1 | $0 |
Name Not Listed Secretary | OfficerTrustee | 1 | $0 |
Name Not Listed Chair | OfficerTrustee | 1 | $0 |
Name Not Listed Board Member | Trustee | 1 | $0 |
Name Not Listed Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $24,747 |
| Membership dues | $0 |
| Fundraising events | $589,266 |
| Related organizations | $0 |
| Government grants | $4,384,413 |
| All other contributions, gifts, grants, and similar amounts not included above | $13,412,984 |
| Noncash contributions included in lines 1a–1f | $1,736,565 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,411,410 |
| Total Program Service Revenue | $1,294,677 |
| Investment income | $86,957 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,125 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$211,452 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $153,542 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,791,342 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,004,510 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $761,065 |
| Compensation of current officers, directors, key employees. | $136,460 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,752,651 |
| Pension plan accruals and contributions | $327,481 |
| Other employee benefits | $2,474,009 |
| Payroll taxes | $905,007 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $45,752 |
| Fees for services: Accounting | $104,240 |
| Fees for services: Lobbying | $80,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $626,051 |
| Advertising and promotion | $138,738 |
| Office expenses | $126,419 |
| Information technology | $374,096 |
| Royalties | $0 |
| Occupancy | $742,046 |
| Travel | $484,311 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,402 |
| Interest | $53,586 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $355,718 |
| Insurance | $253,397 |
| All other expenses | $56,079 |
| Total functional expenses | $21,862,650 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,580,603 |
| Savings and temporary cash investments | $2,089,188 |
| Pledges and grants receivable | $1,388,531 |
| Accounts receivable, net | $953,594 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $406,013 |
| Prepaid expenses and deferred charges | $150,782 |
| Net Land, buildings, and equipment | $6,817,089 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $750,489 |
| Total assets | $14,136,289 |
| Accounts payable and accrued expenses | $528,476 |
| Grants payable | $0 |
| Deferred revenue | $471,590 |
| 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 | $1,281,752 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $770,617 |
| Total liabilities | $3,052,435 |
| Net assets without donor restrictions | $7,109,367 |
| Net assets with donor restrictions | $3,974,487 |
| 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 | $14,136,289 |