Foster Foundation Inc
- Assets
- $41.7m
- Revenue
- $13.5m
- Investments
- $10.1m
- Employees
- 0
- Location
- Huntington, WV
- Founding
- 03/1923
- Data as of
- 12/2021
- 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 12/2021, Foster Foundation Inc generated $13.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $14.0m during the year ending 12/2021. While expenses have increased by 2.8% 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Harkins CEO | 50 | $200,000 | |
Eileen Wheeldon CFO | 45 | $110,455 | |
Cynthia Garinger Hc Administrator | 40 | $100,031 | |
Daniel Cook Hr Director | 40 | $93,720 | |
Juliette Tomlin Mktg. Director | 40 | $92,742 | |
Ronald Smith Food Services Direct | 40 | $77,482 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wise Medical Staffing | 12/30/21 | $577,913 |
Love & Company Inc | 12/30/21 | $313,429 |
Manpower | 12/30/21 | $263,693 |
Robert L Adkins & Sons | 12/30/21 | $688,609 |
Flawless Flooring & Furnishings | 12/30/21 | $258,969 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $543,757 |
| Interest on Savings | $0 |
| Dividends & Interest | $154,470 |
| Net Rental Income | $15,668 |
| Net Gain on Sale of Assets | $511,531 |
| Capital Gain Net Income | $511,531 |
| Net ST Capital Gain | $511,531 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $12,245,618 |
| Total Revenue | $13,471,044 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $354,143 |
| Other employee salaries and wages | $5,325,454 |
| Pension plans, employee benefits | $1,279,754 |
| Interest | $545,265 |
| Taxes | $390,648 |
| Depreciation | $2,323,742 |
| Occupancy | $761,769 |
| Travel, conferences, and meetings | $10,410 |
| Printing and publications | $0 |
| Other expenses | $2,579,214 |
| Total operating and administrative expenses | $13,959,648 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $13,959,648 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $800 |
| Savings and temporary cash investments | $1,121,710 |
| 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 | $168,251 |
| Prepaid expenses and deferred charges | $124,523 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $6,522,622 |
| Net Land, buildings, and equipment | $29,708,356 |
| Other assets | $469,992 |
| Total assets | $41,689,335 |
| Accounts payable and accrued expenses | $1,221,187 |
| Grants payable | $0 |
| Deferred revenue | $14,022,517 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $20,102,849 |
| Other liabilities | $307,478 |
| Total liabilities | $35,654,031 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Foster Foundation Inc has recieved totaling $18,387.
| Awarding Organization | Amount |
|---|---|
National Philanthropic Tr Jenkintown, PA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $9,250 |
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $9,137 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Claws Foundation Reston, VA | $37,055,234 | $1,734,426 |
J Howard Pew Freedom Tr Philadelphia, PA | $675,828,558 | $64,346,772 |
J Willard And Alice S Marriott Foundation Bethesda, MD | $441,340,618 | $31,840,539 |
Mccune Foundation Pittsburgh, PA | $180,488,577 | $38,182,239 |
Jack Kent Cooke Foundation Lansdowne, VA | $883,502,508 | $42,942,790 |
Nationwide Foundation Columbus, OH | $86,187,581 | $42,470,606 |
Dietrich Foundation Pittsburgh, PA | $1,425,693,584 | $93,476,192 |
Bainum Family Foundation Bethesda, MD | $0 | $60,288,788 |
Farmer Family Foundation Cincinnati, OH | $165,004,074 | $63,392,827 |
American Electric Power Foundation Columbus, OH | $61,577,266 | $10,199,855 |
The Morningstar Philanthropic Foundation Bethesda, MD | $552,631,179 | $17,887,743 |
Wyncote Foundation Philadelphia, PA | $612,779,360 | $16,336,575 |