Foster Foundation Inc
- Assets
- $40.5m
- Revenue
- $13.2m
- Investments
- $7.8m
- Employees
- 0
- Location
- Huntington, WV
- Founding
- 03/1923
- Data as of
- 12/2022
- EIN
- 55-0359756
Organization Overview
Foster Foundation Inc is located in Huntington, WV. The organization was established in 1923. 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 Foundation 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 12/2022, Foster Foundation Inc generated $13.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $14.7m during the year ending 12/2022. While expenses have increased by 3.1% 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATES A CONTINUING CARE RETIREMENT COMMUNITY THAT PROVIDES SHELTER AND SUPPORT TO RESIDENTS LIVING IN 163 APARTMENTS, 22 COTTAGES, AND 91 BEDS IN HEALTH CARE.
ACQUIRES ASSETS USED TO PROVIDE SHELTER AND SUPPORT TO RESIDENTS OF THE CONTINUING CARE COMMUNITY.
PROVIDES FINANCIAL SUBSIDIES TO RESIDENTS WHO ARE UNABLE TO PAY REGULAR MONTHLY CHARGES DUE TO FINANCIAL DIFFICULTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Roberts President | 1 | $0 | |
James Rorrer Vice President | 1 | $0 | |
Daniel Konrad Board Member | 1 | $0 | |
Andrew Fischer Board Member | 1 | $0 | |
William B Dennison Secretary/treasurer | 1 | $0 | |
Deanna Mader Board Member | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sysco Food Services Of Cincinnati Inc | 12/30/22 | $925,750 |
Wise Medical Staffing | 12/30/22 | $801,934 |
Robert L Adkins & Sons | 12/30/22 | $638,382 |
Saunders Staffing Inc | 12/30/22 | $417,296 |
Love & Company Inc | 12/30/22 | $272,644 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $218,159 |
| Interest on Savings | $0 |
| Dividends & Interest | $245,003 |
| Net Rental Income | $17,668 |
| Net Gain on Sale of Assets | $28,201 |
| Capital Gain Net Income | $28,201 |
| Net ST Capital Gain | $28,201 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $12,665,344 |
| Total Revenue | $13,174,375 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $316,970 |
| Other employee salaries and wages | $5,837,533 |
| Pension plans, employee benefits | $1,217,911 |
| Interest | $647,160 |
| Taxes | $444,222 |
| Depreciation | $2,348,107 |
| Occupancy | $798,658 |
| Travel, conferences, and meetings | $24,601 |
| Printing and publications | $0 |
| Other expenses | $2,687,000 |
| Total operating and administrative expenses | $14,689,708 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $14,689,708 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $800 |
| Savings and temporary cash investments | $713,881 |
| 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 | $151,133 |
| Prepaid expenses and deferred charges | $93,737 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $4,933,479 |
| Net Land, buildings, and equipment | $29,245,636 |
| Other assets | $2,479,003 |
| Total assets | $40,514,604 |
| Accounts payable and accrued expenses | $1,216,887 |
| Grants payable | $0 |
| Deferred revenue | $14,640,989 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $19,449,250 |
| Other liabilities | $315,210 |
| Total liabilities | $35,622,336 |