Foster Success Inc
- Assets
- $8.2m
- Revenue
- $9.8m
- Investments
- $0.0
- Employees
- 27
- Location
- Indianapolis, IN
- Founding
- 10/2012
- Data as of
- 06/2023
- EIN
- 45-5056874
Organization Overview
Foster Success Inc is located in Indianapolis, IN. The organization was established in 2012. According to its NTEE Classification (P30) the organization is classified as: Children & Youth Services, under the broad grouping of Human Services and related organizations. As of 06/2023, Foster Success Inc employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foster Success 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 06/2023, Foster Success Inc generated $9.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 24.9% each year . All expenses for the organization totaled $4.9m during the year ending 06/2023. While expenses have increased by 13.1% per year over the past 7 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
FOSTER YOUTH SUPPORT - SEE PART III LINE 1 FOR MISSION STATEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
YOUTH ENGAGEMENT: THE YOUTH ENGAGEMENT PROGRAMS BRING TOGETHER YOUNG PEOPLE TO SUPPORT ONE ANOTHER AND TACKLE THE ISSUES THAT MATTER TO THEM. WHETHER OR NOT A YOUNG PERSON IS INVOLVED IN SOME OF OUR OTHER PROGRAMS, WE STILL WANT THOSE WHO HAVE BEEN IN FOSTER CARE TO ENGAGE WITH THEIR PEERS WHO HAVE SHARED EXPERIENCES.
WORKFORCE READINESS: WORKFORCE READINESS MEANS ENSURING THAT OUR YOUNG PEOPLE HAVE CLEAR AND SUPPORTIVE PATHS TO GOOD AND PROMISING JOBS. UNEMPLOYMENT IS A SIGNIFICANT PROBLEM FOR THOSE WHO HAVE EXPERIENCED FOSTER CARE. JUST 51% OF CURRENT OR FORMER FOSTER YOUTH REPORT BEING EMPLOYED AT AGE 21, COMPARED TO 61% OF THEIR NON-FOSTER CARE PEERS. HEALTH & WELL-BEING: WE KNOW THAT THE HEALTH AND WELL-BEING OF A YOUNG PERSON IS NOT SIMPLY DEPENDENT ON THE CHOICES THEY MAKE. THERE ARE COMPLEX CONDITIONS, LIKE WHERE THEY LIVE, WORK, LEARN, AND PLAY, THAT AFFECT THEM, TOO. WE STRIVE TO MAKE SURE EVERY YOUNG PERSON CAN MEET THEIR MOST BASIC NEEDS. WE PROVIDE 1:1 REFERRALS AND REAL CONNECTIONS TO COMMUNITY RESOURCES INCLUDING: DOCUMENTATION, HOUSING, FINANCIAL SUPPORT, FOOD, HYGIENE ITEMS, TRANSPORTATION, MEDICAL & HEALTH NEEDS, AND SELF-ADVOCACY.
FINANCIAL EMPOWERMENT: FINANCIAL EMPOWERMENT IS THE KEY TO FINANCIAL LITERACY AND SELF-SUFFICIENCY. PROGRAM PARTICIPANTS GAIN SKILLS AND KNOWLEDGE TO SAVE MONEY, SPEND WISELY, AND BUILD CREDIT AND ASSETS. THEY ALSO CAN RECEIVE FUNDS TO MATCH THEIR OWN SAVINGS TO ASSIST THEM IN PURCHASING VEHICLES, PAYING FOR HOUSING, OR COVERING OTHER SIGNIFICANT EXPENSES.
EDUCATIONAL SUCCESS: EDUCATIONAL SUCCESS LOOKS DIFFERENT FOR EACH PERSON. THROUGH A COMPREHENSIVE SERIES OF EDUCATIONAL SUPPORT PROGRAMS, PARTICIPANTS CAN ACCESS SUPPORT TO NAVIGATE THEIR JOURNEY FROM HIGH SCHOOL TO COLLEGE AND THROUGH THE VARIOUS CHALLENGES THAT COME ALONG WITH EACH STEP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maggie Stevens CEO | OfficerTrustee | 40 | $108,682 |
Danny Kibble Vice Chair | OfficerTrustee | 1 | $0 |
Mike Brady Board Member | Trustee | 1 | $0 |
Erin Brothers Board Member | Trustee | 1 | $0 |
Lolita Campbell Treasurer | OfficerTrustee | 1 | $0 |
Grace Worley Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Galvin Technologies | 6/29/23 | $189,958 |
Proof Digital Llc | 6/29/23 | $118,969 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,182,863 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,435,209 |
| Noncash contributions included in lines 1a–1f | $1,770 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,618,072 |
| Total Program Service Revenue | $0 |
| Investment income | $198,703 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,816,775 |
| 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. | $108,682 |
| Compensation of current officers, directors, key employees. | $10,616 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,009,425 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $175,560 |
| Payroll taxes | $93,391 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $87,863 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $361,135 |
| Advertising and promotion | $220,843 |
| Office expenses | $70,008 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $29,221 |
| Travel | $125,992 |
| 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 | $14,794 |
| Insurance | $12,185 |
| All other expenses | $23,069 |
| Total functional expenses | $4,876,329 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,391,188 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $641,633 |
| 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 | $21,814 |
| Net Land, buildings, and equipment | $118,942 |
| Investments—publicly traded securities | $4,921,775 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $135,241 |
| Total assets | $8,230,593 |
| Accounts payable and accrued expenses | $137,334 |
| Grants payable | $0 |
| Deferred revenue | $2,008,213 |
| 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 | $132,480 |
| Total liabilities | $2,278,027 |
| Net assets without donor restrictions | $1,030,791 |
| Net assets with donor restrictions | $4,921,775 |
| 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 | $8,230,593 |