Miracle Foundation Inc
- Assets
- $4.3m
- Revenue
- $4.8m
- Investments
- $0.0
- Employees
- 22
- Location
- Austin, TX
- Founding
- 06/2001
- Data as of
- 03/2024
- EIN
- 74-2989580
Organization Overview
Miracle Foundation Inc is located in Austin, TX. The organization was established in 2001. According to its NTEE Classification (P31) the organization is classified as: Adoption, under the broad grouping of Human Services and related organizations. As of 03/2024, Miracle Foundation Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Miracle 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 03/2024, Miracle Foundation Inc generated $4.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $5.1m during the year ending 03/2024. While expenses have increased by 11.0% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
A FAMILY FOR EVERY CHILD IN OUR LIFETIME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PREVENT CHILDREN FROM ENTERING THE SYSTEM IN THE FIRST PLACE. EVERY DAY AROUND THE WORLD, SOCIAL WORKERS, CAREGIVERS AND GOVERNMENT OFFICIALS MAKE DECISIONS THAT IMPACT MILLIONS OF VULNERABLE CHILDREN. ALONG WITH UNICEF AND OTHER PARTNERS, WE PROVIDE HIGHLY SPECIALIZED TRAINING AND EDUCATIONAL RESOURCES FOR THESE "BOOTS ON THE GROUND" WORKERS IN THE CHILDCARE ECOSYSTEM. THROUGH THIS COLLABORATION AND OUR SCALEABLE TECHNOLOGIES, MIRACLE FOUNDATION HAS TRAINED MORE THAN 6,036 GOVERNMENT OFFICIALS AND CAREGIVERS AND ACTIVATED COMMUNITY AND YOUTH LED INITIATIVES. ALL OF THIS OUTREACH WORKS TO IDENTIFY AND SUPPORT AT-RISK CHILDREN LONG BEFORE FORMAL INTERVENTIONS ARE NECESSARY.
WE UNITE CHILDREN WITH FAMILIES.CHILDREN WANT TO GROW UP IN A FAMILY, AND EACH OF THEM HAVE THE RIGHT TO A SAFE, STABLE, AND PERMANENT HOME. EACH CHILD'S JOURNEY HOME IS UNIQUE, AS WE LEAD THE TRANSITION OF CHILDREN AWAY FROM INSTITUTIONS, OUR JOB IS TO MAKE SURE THIS WORK IS DONE IN A SAFE, STABLE, AND PERMANENT WAY. TO FACILITATE THIS, WE USE OUR THRIVE SCALE METHODOLOGY TO MEASURE AND ACTIVATE A CHILD'S RIGHTS AND STRENGTHEN THEIR FAMILY TO ENSURE THEY STAY TOGETHER.
ENSURE CHILDREN GROW UP IN A SAFE, STABLE FAMILY.WE WORK TIRELESSLY TO HELP STABILIZE CHILDREN WHILE THEY AWAIT A FOREVER HOME. WE USE DATA TO DRIVE OUR DECISIONS AND ENSURE THAT ALL CHILDREN THRIVE, OUR LEADING-EDGE THRIVEWELL SOFTWARE OFFERS A REVOLUTIONARY AND WELCOME CHANGE TO THE US FOSTER CARE SYSTEM. OUR WORK IN FOSTER CARE HELPS STREAMLINE COMMUNICATIONS, SIMPLIFIES THE REPORTING PROCESS, HELPS FAMILIES AND HELPS CHILDREN AVOID THE PAINFUL PROCESS OF BEING MOVED FROM HOME TO HOME. SECONDLY, OUR PROPRIETARY THRIVE SCALE METHODOLOGY ALLOWS US TO MEASURE PROGRESS AND ASSESS RISK AT EVERY STAGE OF OUR WORK. DEVELOPED OVER THE PAST TWO DECADES, THIS ONE-OF-A-KIND TOOL IS TAKING THE GUESSWORK OUT OF CHILD CARE AND HAS PROPELLED MIRACLE FOUNDATION INTO A GLOBAL NONPROFIT ORGANIZATION FOR CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Krishna Srinivasan Chairman | OfficerTrustee | 1 | $0 |
Caroline Boudreaux Founder | OfficerTrustee | 50 | $155,688 |
Leslie Beasley CEO | OfficerTrustee | 50 | $183,750 |
Rajeev Kathuria Board Member | Trustee | 1 | $0 |
Nabeela Ixabalan Board Member | Trustee | 1 | $0 |
John Messer Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jack Rabbit App Development | 3/30/22 | $138,525 |
Inapp App Development | 3/30/22 | $201,900 |
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 | $4,685,971 |
| Noncash contributions included in lines 1a–1f | $2,946 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,685,971 |
| Total Program Service Revenue | $0 |
| Investment income | $130,295 |
| 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 | $4,816,823 |
| 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 | $339,876 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $523,537 |
| Compensation of current officers, directors, key employees. | $121,990 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,010,695 |
| Pension plan accruals and contributions | $29,527 |
| Other employee benefits | $196,383 |
| Payroll taxes | $138,115 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $532 |
| Fees for services: Accounting | $74,498 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $195,156 |
| Advertising and promotion | $75,307 |
| Office expenses | $134,796 |
| Information technology | $23,346 |
| Royalties | $0 |
| Occupancy | $44,692 |
| Travel | $144,731 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $50,347 |
| Interest | $3,522 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,765 |
| Insurance | $5,249 |
| All other expenses | $36,325 |
| Total functional expenses | $5,136,346 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $855,714 |
| Savings and temporary cash investments | $1,107,883 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,200 |
| 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 | $44,457 |
| Net Land, buildings, and equipment | $477,461 |
| Investments—publicly traded securities | $1,728,217 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $124,363 |
| Total assets | $4,339,295 |
| Accounts payable and accrued expenses | $218,193 |
| Grants payable | $0 |
| Deferred revenue | $57,373 |
| 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 | $106,423 |
| Total liabilities | $381,989 |
| Net assets without donor restrictions | $2,963,862 |
| Net assets with donor restrictions | $993,444 |
| 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 | $4,339,295 |