Forster Foundation Inc
- Assets
- $207.0k
- Revenue
- $17.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Boynton Beach, FL
- Founding
- 04/2015
- Data as of
- 12/2023
- EIN
- 61-1756830
Organization Overview
Forster Foundation Inc is located in Boynton Beach, FL. The organization was established in 2015. According to its NTEE Classification (K31) the organization is classified as: Food Banks & Pantries, under the broad grouping of Food, Agriculture & Nutrition and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Forster 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 12/2023, Forster Foundation Inc generated $17.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (31.9%) each year. All expenses for the organization totaled $119.4k during the year ending 12/2023. 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
THE FOUNDATION HAS PROMOTED ITS OPERATIONS AS THE MIRACLE MISSION. DURING 2022 THE FOUNDATION INITIATED ITS SHOE BY SHOE NATIONAL PROGRAM PROVIDING SHOES AND SOCKS TO NEEDY CHILDREN THROUGHOUT FLORIDA; 38,000 PAIRS OF SHOES ANS 50,000 PAIRS OF SOCKS WERE DISTRIBUTED
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION SUPPORTS OTHER CHARITABLE ORGANIZATIONS THAT HAVE THE MISSION OF ASSISTING THOSE IN NEED OF NUTRITION AND MEDICAL AIDS SUCH AS WHEEL CHAIRS AND OTHER DEVICES FOR THE DISABLED. THE FOUNDATION PROMOTES ITS OPERATIONS AS THE MIRACLE MISSION. DURING 2023 THE FOUNDATION CONTINUED THE SHOES AND SOCKS PROGRAM AND SUPPORTED OTHER PHILANTROPIC ORGANIZATIONS.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,817 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,817 |
| Total Program Service Revenue | $0 |
| Investment income | $7,015 |
| 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 | $17,832 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $110,244 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,918 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $7,224 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $119,386 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,705 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $183,259 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $206,964 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $206,964 |
| Total liabilities and net assets/fund balances | $206,964 |
Grants Awarded
Over the last fiscal year, Forster Foundation Inc has awarded $116,110 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
HOPE HAVEN INTERNATIONAL PURPOSE: MEDICAL AIDS | $69,810 |
HARVEST OF ISRAEL PURPOSE: GENERAL SUPPORT | $6,300 |
NEVE MICHAEL CHILDRENS VILLAGE PURPOSE: GENERAL SUPPORT | $35,000 |
FIST BAPTIST CHURCH OF MORRISTOWN PURPOSE: GENERAL SUPPORT | $5,000 |