I Foster Inc
- Assets
- $5.6m
- Revenue
- $4.0m
- Investments
- $0.0
- Employees
- 231
- Location
- Truckee, CA
- Founding
- 10/2010
- Data as of
- 06/2023
- EIN
- 80-0627614
Organization Overview
I Foster Inc is located in Truckee, CA. The organization was established in 2010. According to its NTEE Classification (P30) the organization is classified as: Children & Youth Services, under the broad grouping of Human Services and related organizations. As of 06/2023, I Foster Inc employed 231 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. I Foster 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, I Foster Inc generated $4.0m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 13.7% each year . All expenses for the organization totaled $5.6m during the year ending 06/2023. While expenses have increased by 18.4% 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
TO PROVIDE RESOURCES FOR FOSTER CARE YOUTH, CAREGIVERS, AND ORGANIZATIONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
IFOSTER RESOURCES: PROVIDES EQUITABLE ACCESS TO RESOURCES TO ALL CHILDREN AND YOUTH IN THE FOSTER CARE SYSTEM. THESE INCLUDE THE IFOSTER PORTAL OF HUNDREDS OF RESOURCES AND SERVICES, ACCESS TO TECHNOLOGY SUCH AS COMPUTERS AND CELL PHONES, AND PEER RESOURCE NAVIGATION.
IFOSTER SUCCESS: SCAFFOLDING TO SELF-SUFFICIENCY. THESE INCLUDE ONLINE RESOURCES SUCH AS SELF-DIRECTED TRAINING, EMPLOYEE PLACEMENTS AND INTERNSHIPS TO ENSURE YOUTH AGING OUT OF THE FOSTER CARE SYSTEM CAN SUCCESSFULLY TRANSITION TO INDEPENDENCE WHEN THEY LEAVE CARE.
IFOSTER HOPE: CLOSING THE RESOURCE GAP BETWEEN CHILDREN IN FOSTER CARE AND THEIR PEERS BEING RAISED IN BIOLOGICAL FAMILIES. THESE INCLUDE CAUSE AWARENESS, FUNDS TO MEET CHILD AND CAREGIVER NEEDS, AND THE IFOSTER WELL-BEING INDEX.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Serita Cox CEO | OfficerTrustee | 40 | $197,810 |
Robert Beaudry Board Chair | OfficerTrustee | 2 | $0 |
Ryan Kelly Board Treasurer | OfficerTrustee | 2 | $0 |
Ann Ferrell Tata Board Member | Trustee | 1 | $0 |
Neil Walsh Board Member | Trustee | 1 | $0 |
Keirsten Taillon Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mindcracker Inc Crm Webtool Development | 6/29/23 | $400,000 |
Care Consulting Group Voice Of The Community Survey | 6/29/23 | $272,177 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,602,971 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,032,871 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,635,842 |
| Total Program Service Revenue | $372,140 |
| Investment income | $732 |
| 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 | $4,008,714 |
| 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. | $429,174 |
| Compensation of current officers, directors, key employees. | $96,662 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,695,203 |
| Pension plan accruals and contributions | $2,477 |
| Other employee benefits | $93,195 |
| Payroll taxes | $227,972 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,915 |
| Fees for services: Accounting | $64,928 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $336,685 |
| Advertising and promotion | $38,282 |
| Office expenses | $83,990 |
| Information technology | $866,046 |
| Royalties | $0 |
| Occupancy | $111,754 |
| Travel | $121,274 |
| 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 | $469 |
| Insurance | $17,945 |
| All other expenses | $0 |
| Total functional expenses | $5,568,981 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,319,538 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,147,237 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $135,626 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $78 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,602,479 |
| Accounts payable and accrued expenses | $633,503 |
| 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 | $150 |
| Other liabilities | $72,295 |
| Total liabilities | $705,948 |
| Net assets without donor restrictions | $4,896,531 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $5,602,479 |