Forkids Inc
- Assets
- $30.0m
- Revenue
- $11.8m
- Investments
- $0.0
- Employees
- 166
- Location
- Chesapeake, VA
- Founding
- 05/1989
- Data as of
- 06/2023
- EIN
- 54-1477799
Organization Overview
Forkids Inc is located in Chesapeake, VA. The organization was established in 1989. According to its NTEE Classification (L41) the organization is classified as: Homeless Shelters, under the broad grouping of Housing & Shelter and related organizations. As of 06/2023, Forkids Inc employed 166 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Forkids 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, Forkids Inc generated $11.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $11.7m during the year ending 06/2023. While expenses have increased by 6.9% 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
BREAKING THE CYCLE OF HOMELESSNESS AND POVERTY FOR FAMILIES AND CHILDREN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FORKIDS PROVIDES A CONTINUUM OF SHELTER, HOUSING AND ECONOMIC MOBILITY SERVICES THAT SUPPORT FAMILIES IN OBTAINING AND MAINTAINING AFFORDABLE HOUSING, ESTABLISHING FAMILY STABILITY AND ESTABLISHING A LIVING WAGE FOR LONG-TERM SUSTAINABILITY. FOR THE YEAR ENDED JUNE 30, 2023, 441 HOUSEHOLDS WITH 993 CHILDREN OBTAINED HOUSING STABILIZATION AND COACHING SERVICES AND ESTABLISHED REALISTIC GOALS FOR THE FUTURE.
THE EDUCATION TEAM AT FORKIDS ENSURES EVERY STUDENT HAS THE BEST CHANCE TO NOT JUST SUCCEED IN SCHOOL, BUT TO EXCEL. ACADEMIC PROGRAMS MEASURABLY CLOSE ACHIEVEMENT GAPS WHILE ENRICHMENT ACTIVITIES AND SUMMER PROGRAM REINFORCE LEARNING, TEACH LIFE SKILLS AND ENHANCE SOCIAL-EMOTIONAL COMPETENCIES. FOR THE YEAR ENDED JUNE 30, 2023, 440 CHILDREN RECEIVED EDUCATION SERVICES AND 90% OF STUDENTS WERE PROMOTED TO THE NEXT GRADE AT THE END OF THE SCHOOL YEAR.
THE HOUSING CRISIS HOTLINE, OPERATED BY FORKIDS, SERVES AS THE CENTRAL POINT OF INTAKE FOR HOUSEHOLDS EXPERIENCING A HOUSING CRISIS, ANSWERING 65,402 CALLS IN FY23. INTAKE SPECIALISTS CONNECT CALLERS TO ANY ONE OF HUNDREDS OF PUBLIC AND PRIVATE RESOURCES THROUGHOUT SOUTHEASTERN VIRGINIA. FORKIDS' EXTENDED SERVICES, SPANNING 14 LOCALITIES AND OVER 3,000 SQUARE MILES, IMPACTED NEARLY 75,000 PEOPLE IN FY23.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thaler Mccormick Corporate Secretary/ceo | OfficerTrustee | 40 | $209,941 |
Laura F Calvert Chairperson | Trustee | 5 | $0 |
Kelly Sokol Director | Trustee | 1 | $0 |
Jenn Pfitzner Treasurer | OfficerTrustee | 5 | $0 |
Sharon Chappell Director | Trustee | 1 | $0 |
Torae Artis Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hourigan Construction Construction | 6/29/22 | $926,622 |
New Day Office Products Office Furnishing Provider | 6/29/22 | $119,331 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $234,022 |
| Membership dues | $0 |
| Fundraising events | $1,291,855 |
| Related organizations | $0 |
| Government grants | $4,889,972 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,267,226 |
| Noncash contributions included in lines 1a–1f | $395,706 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,683,075 |
| Total Program Service Revenue | $32,303 |
| Investment income | $165,753 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $157,134 |
| Net Gain/Loss on Asset Sales | $441,901 |
| Net Income from Fundraising Events | $337,229 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,817,395 |
| 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. | $680,335 |
| Compensation of current officers, directors, key employees. | $340,167 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,018,614 |
| Pension plan accruals and contributions | $138,685 |
| Other employee benefits | $532,250 |
| Payroll taxes | $420,647 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $55,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $362,504 |
| Advertising and promotion | $1,799 |
| Office expenses | $310,601 |
| Information technology | $145,579 |
| Royalties | $0 |
| Occupancy | $266,655 |
| Travel | $61,691 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $39,597 |
| Interest | $2,678 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $758,994 |
| Insurance | $60,810 |
| All other expenses | $49,637 |
| Total functional expenses | $11,664,550 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,304,580 |
| Savings and temporary cash investments | $3,498,679 |
| Pledges and grants receivable | $1,481,771 |
| Accounts receivable, net | $663,472 |
| 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 | $57,442 |
| Net Land, buildings, and equipment | $18,667,940 |
| Investments—publicly traded securities | $3,297,006 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $57,662 |
| Total assets | $30,028,552 |
| Accounts payable and accrued expenses | $441,868 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $21,751 |
| 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 | $49,229 |
| Total liabilities | $512,848 |
| Net assets without donor restrictions | $25,261,432 |
| Net assets with donor restrictions | $4,254,272 |
| 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 | $30,028,552 |