Tidewater Friends Of Foster Care Incorporated
- Assets
- $1.4m
- Revenue
- $1.1m
- Investments
- $291.6k
- Employees
- 6
- Location
- Norfolk, VA
- Founding
- 07/2016
- Data as of
- 12/2022
- EIN
- 81-2887214
Organization Overview
Tidewater Friends Of Foster Care Incorporated is located in Norfolk, VA. The organization was established in 2016. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Tidewater Friends Of Foster Care Incorporated employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tidewater Friends Of Foster Care Incorporated 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, Tidewater Friends Of Foster Care Incorporated generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 17.7% each year . All expenses for the organization totaled $927.5k during the year ending 12/2022. While expenses have increased by 17.3% per year over the past 4 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
BELIEVING THAT EVERY CHILD DESERVES A HEALTHY AND HAPPY CHILDHOOD. TIDEWATER FRIENDS OF FOSTER CARE (TFFC) IS COMMITTED TO ENRICHING THE LIVES OF FOSTER CHILDREN IN OUR COMMUNITY. FOSTER CHILDREN OFTEN MISS OUT ON KEY ELEMENTS OF A HEALTHY AND HAPPY CHILDHOOD, SUCH AS A STABLE FAMILY ENVIRONMENT, EXTRACURRICULAR ACTIVITIES AND ENRICHMENT PROGRAMS, AND INDIVIDUALIZED TUTORING/MENTORING, DUE TO LACK OF A FAMILY PLACEMENT, FUNDING LIMITATIONS, AND INSUFFICIENT ACCESS TO SUPPLEMENTARY PROGRAMS. THE MISSON OF TFFC IS TO ADDRESS THESE ISSUES THROUGH TARGETED OUTREACH TO INCREASE THE NUMBER OF AVAILABLE FAMILY FOSTER HOMES, THEREBY REDUCING THE NEED FOR GROUP-HOME PLACEMENTS FOR CHILDREN, PROVIDING FUNDING FOR ENRICHMENT PROGRAMS THAT BRIDGE THE GAP BETWEEN WHAT IS AVAILABLE FROM PUBLIC SERVICES AND THOSE ELEMENTS THAT ARE ESSENTIAL TO A HEALTHY AND HAPPY CHILDHOOD.THROUGH ITS PHILANTHROPY, TFFC STRIVES TO ENSURE ALL CHILDREN IN THE FOSTER CARE SYSTEM HAVE THE BEST CHILDHOOD POSSIBLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DIRECT ASSISTANCE TO FOSTER CHILDREN AND THEIR FAMILIES. INCLUDES BIRTHDAY AND CHRISTMAS GIFTING, CAMP TUITIONS, EXTRACURRICULAR ACTIVITIES, AND TUTORING. PROMOTING AWARENESS OF THE FOSTER PROGRAM AND ASSISTING IN THE PROMOTION OF FOSTER PARENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Audra Bullock President | OfficerTrustee | 40 | $0 |
T Richard Litton Jr Secretary & Treasurer | OfficerTrustee | 1 | $0 |
Angelina Hopkins Director | Trustee | 1 | $0 |
Marcella Davis Director | Trustee | 1 | $0 |
Ken Shewbridge Director | Trustee | 1 | $0 |
Mary E Bonsby-Brock Director | Trustee | 1 | $0 |
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 | $1,112,860 |
| Noncash contributions included in lines 1a–1f | $227,427 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,112,860 |
| Total Program Service Revenue | $0 |
| Investment income | $14,061 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,139,691 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $178,710 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $13,802 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,215 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,724 |
| Fees for services: Other | $30,000 |
| Advertising and promotion | $29,504 |
| Office expenses | $9,410 |
| Information technology | $3,460 |
| Royalties | $0 |
| Occupancy | $72,057 |
| 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 | $4,067 |
| Insurance | $2,356 |
| All other expenses | $20,500 |
| Total functional expenses | $927,520 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $375,167 |
| Savings and temporary cash investments | $134,710 |
| Pledges and grants receivable | $40,000 |
| 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 | $18,763 |
| Investments—publicly traded securities | $511,680 |
| Investments—other securities | $291,581 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,371,901 |
| 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 | $4,568 |
| Total liabilities | $4,568 |
| Net assets without donor restrictions | $1,212,237 |
| Net assets with donor restrictions | $155,096 |
| 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 | $1,371,901 |