Fostering Acadia
- Assets
- $1.7m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 23
- Location
- Richmond, VA
- Founding
- 06/2019
- Data as of
- 06/2022
- EIN
- 81-4698009
Organization Overview
Fostering Acadia is located in Richmond, VA. The organization was established in 2019. According to its NTEE Classification (P01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Human Services and related organizations. As of 06/2022, Fostering Acadia employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fostering Acadia 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 06/2022, Fostering Acadia generated $4.2m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 27.6% each year . All expenses for the organization totaled $4.0m during the year ending 06/2022. While expenses have increased by 29.8% 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
TO PRODUCE BETTER OUTCOMES FOR YOUTH AGING OUT OF THE FOSTER CARE SYSTEM BY PROVIDING AN APARTMENT-STYLE PROGRAM TO ASSIST YOUTH WITH DAILY LIVING SKILLS, EMPLOYMENT, AND EDUCATIONAL SUPPORT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOSTERING ACADIA'S MISSION IS TO FOSTER HOPE, CHANGE, AND FUTURES OF YOUTH SEEKING AN INDEPENDENT LIVING ARRANGEMENT. FOSTERING ACADIA IS AN INDEPENDENT LIVING ARRANGEMENT SERVING YOUTH AGES 17-21. IT IS AN APARTMENT-STYLE PROGRAM THAT ASSISTS YOUTH WITH DAILY LIVING SKILLS, EMPLOYMENT, AND EDUCATION SUPPORT. USING CASE MANAGEMENT LOGS, MONTHLY REPORTS, ISP'S, AND QUARTERLIES, FOSTERING ACADIA IMPLEMENTS SERVICE GOALS AND OBJECTIVES FOR EACH YOUTH. SERVICE GOALS AND OBJECTIVES CAN INCLUDE: COUNSELING, EMPLOYMENT, EDUCATION, TRANSPORTATION, FINANCES, AND PERMANENCY. FOSTERING ACADIA UTILIZES THE CASEY LIFE SKILLS ASSESSMENT AS ONE OF ITS MAIN MEASURING TOOLS FOR YOUTH OUTCOMES. DURING THE TAX YEAR, FOSTERING ACADIA SERVED 70 YOUTH, OVER AN AVERAGE STAY OF 302 DAYS. DURING THIS YEAR, 31 YOUTHS IN THE PROGRAM OBTAINED THEIR FIRST CAR THROUGH FOSTERING ACADIA'S CAR INCENTIVE PROGRAM. DURING THIS TIME, 97% OF THE ENROLLED YOUTH INCREASED THEIR INDEPENDENT LIVING SKILLS, AS MEASURED BY COMPARISON TO THEIR ISP, CASEY LIFE SKILLS ASSESSMENTS AND FAPT GOALS. ALSO DURING THIS TIME, 91% OF YOUTH INCREASED THEIR INDEPENDENT LIVING SKILLS, 94% OF YOUTH OBTAINED EMPLOYMENT, AND 83% OF YOUTH STAYED UNDER THEIR MONTHLY BUDGETS.
DURING THE YEAR, FOSTERING ACADIA PROVIDED SUPPORT TO OTHER ORGANIZATIONS WITH SIMILAR GOALS (YOUTH ADVOCACY) THROUGH DONATIONS TO THEIR PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jason Brown Pres, Treasurer | OfficerTrustee | 55 | $138,500 |
Talia Brown Vp, Secretary | OfficerTrustee | 48 | $87,709 |
Whitney Campbell Director | Trustee | 1 | $0 |
Ashleigh Brunsink Director | Trustee | 1 | $0 |
Holly Renes Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,214,604 |
| All other contributions, gifts, grants, and similar amounts not included above | $26,977 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,241,581 |
| Total Program Service Revenue | $0 |
| Investment income | $146 |
| 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 | $4,241,727 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,249 |
| Grants and other assistance to domestic individuals. | $2,466,280 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $256,201 |
| Compensation of current officers, directors, key employees. | $126,837 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $806,801 |
| Pension plan accruals and contributions | $5,092 |
| Other employee benefits | $70,408 |
| Payroll taxes | $82,354 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,304 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $138,184 |
| Advertising and promotion | $1,800 |
| Office expenses | $30,381 |
| Information technology | $9,037 |
| Royalties | $0 |
| Occupancy | $37,537 |
| Travel | $5,815 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,613 |
| Interest | $3,585 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,901 |
| Insurance | $37,455 |
| All other expenses | $31 |
| Total functional expenses | $4,000,291 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $429,155 |
| Savings and temporary cash investments | $140,724 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,021,193 |
| 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 | $88,290 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,679,362 |
| Accounts payable and accrued expenses | $23,723 |
| 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 | $1,000 |
| Secured mortgages and notes payable | $58,674 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $100 |
| Total liabilities | $83,497 |
| Net assets without donor restrictions | $1,595,865 |
| 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 | $1,679,362 |