New Foster Care Inc
- Assets
- $5.1m
- Revenue
- $3.1m
- Investments
- $3.1m
- Employees
- 20
- Location
- Bloomfield Hills, MI
- Founding
- 04/2017
- Data as of
- 12/2022
- EIN
- 81-4793580
Organization Overview
New Foster Care Inc is located in Bloomfield Hills, MI. The organization was established in 2017. According to its NTEE Classification (P32) the organization is classified as: Foster Care, under the broad grouping of Human Services and related organizations. As of 12/2022, New Foster Care Inc employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Foster Care 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 12/2022, New Foster Care Inc generated $3.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.1% each year . All expenses for the organization totaled $1.0m during the year ending 12/2022. 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
THE NEW FOSTER CARE'S MISSION IS TO MAKE A TRANSFORMATIVE CHANGE IN THE MICHIGAN FOSTER CARE SYSTEM AND A MEASURABLE AND MEANINGFUL IMPACT IN THE LIVES OF CHILDREN WHO HAVE EXPERIENCED FOSTER CARE BY: 1) PROVIDING DIRECT SERVICE PROGRAMS; 2) PARTNERING WITH STATE AND LOCAL AGENCIES; AND 3) RESEARCHING AND ADVANCING POLICY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BRIDGE PROGRAM IS A TRANSITIONAL SUPPORT MODEL SERVING YOUNG PEOPLE AGES 14 TO 29, TO ASSIST THOSE YOUTH WHO ARE AGING OUT OF FOSTER CARE AND LACK THE NECESSARY SKILLS, RESOURCES, AND SUPPORT TO CONTINUE DEVELOPMENT IN ADULTHOOD. UTILIZING A STRENGTHS-BASED AND PERSON-CENTERED ENVIRONMENT AND CONNECTED TO A NETWORK OF SUPPORT. EACH YOUNG PERSON ACCEPTED INTO THE BRIDGE IS ASSIGNED A MULTISYSTEMATIC NAVIGATOR TO ASSIST WITH THEIR TRANSITION AND COORDINATE WITH THE DEPARTMENT OF HEALTH AND HUMAN SERVICES (DHHS), AND OTHER SERVICE AGENCIES PROVIDING ASSISTANCE. THE NAVIFATOR PROVIDES COACHING AND SUPPORT ACROSS FIVE TRANSITIONAL LIFE DOMAINS: EDUCATION, EMPLOYMENT, LIVING SITUATION, COMMUNITY LIFE FUNCTIONING AND PERSONAL EFFECTIVENESS AND WELLBEING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Yatooma President | OfficerTrustee | 20 | $0 |
Liza Munro Secretary | OfficerTrustee | 1 | $0 |
Pastor Jamie Kjos Director | Trustee | 1 | $0 |
Derrick Mccree Director | Trustee | 1 | $0 |
Brian Calley Treasurer | OfficerTrustee | 3 | $0 |
Shannon Urbon Executive Director | 50 | $123,800 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $541,449 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,374,276 |
| Noncash contributions included in lines 1a–1f | $19,746 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,915,725 |
| Total Program Service Revenue | $0 |
| Investment income | $141,897 |
| 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 | $3,057,622 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $63,448 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $134,231 |
| Compensation of current officers, directors, key employees. | $12,555 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $602,079 |
| Pension plan accruals and contributions | $4,969 |
| Other employee benefits | $29,588 |
| Payroll taxes | $57,282 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $880 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $24,308 |
| Advertising and promotion | $926 |
| Office expenses | $5,140 |
| Information technology | $13,472 |
| Royalties | $0 |
| Occupancy | $29,331 |
| Travel | $5,042 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,090 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,376 |
| All other expenses | $1,889 |
| Total functional expenses | $1,001,772 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,615,957 |
| Pledges and grants receivable | $375,040 |
| Accounts receivable, net | $4,059 |
| 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 | $0 |
| Investments—other securities | $3,145,323 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,140,379 |
| Accounts payable and accrued expenses | $305 |
| 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 | $16,170 |
| Total liabilities | $16,475 |
| Net assets without donor restrictions | $5,123,904 |
| 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 | $5,140,379 |