Overview
What is Sherwood & Myrtie Foster's Home For Chil?
Sherwood & Myrtie Foster's Home for Children is a nonprofit organization established in 1958 by Sherwood and Myrtie Foster. Since the winter of 1960, the home has been providing care and fostering opportunities for over 4,000 children from Texas. Their primary mission is to offer child care and foster care placements, ensuring the well-being of these children. The organization has been instrumental in fulfilling the needs of these young individuals.
Official website here: www.fostershome.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100% (Four-Star out of Four Stars)
Sherwood & Myrtie Foster's Home for Children has achieved an exceptional Four-Star rating from Charity Navigator, indicating a commitment to accountability and financial health. The organization scored 100% in the Accountability & Finance category, reflecting strong governance practices and transparency. Notable highlights include a fully independent board and robust financial oversight mechanisms that ensure the organization operates with integrity.
The nonprofit excels in its financial management, with a program expense ratio of 87.69%, demonstrating that the majority of its expenditures directly support its mission. Additionally, the fundraising efficiency ratio is impressively low at $0.13, indicating that the organization effectively generates funds with minimal cost. The liabilities to assets ratio stands at just 3.09%, which suggests a solid financial foundation and low risk of insolvency.
While the data showcases strong performance, it is crucial for stakeholders to continue monitoring the organization’s practices to ensure ongoing compliance and effectiveness. Overall, Sherwood & Myrtie Foster's Home for Children is a well-run nonprofit dedicated to its cause, with transparent operations and strong financial health.
This AI summary has been generated from information found on Charity Navigator.
Is Sherwood & Myrtie Foster's Home For Chil legitimate?
Sherwood & Myrtie Foster's Home For Chil is a legitimate nonprofit organization registered as a 501(c)(3) entity. Sherwood & Myrtie Foster's Home For Chil submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,970,698
For more financial information, click here
Official website here: www.fostershome.org
What is the mission statement of Sherwood & Myrtie Foster's Home For Chil?
Sherwood & Myrtie Foster's Home for Children, established in 1958, is committed to providing child care and foster care placements. The organization's primary mission is to cater to the needs of children in need of care, having served over 4,000 children from Texas since its inception. The home aims to offer a safe and nurturing environment, providing essential care and support to these children. While specific details about the methods or approaches used are not provided, it can be inferred that the home's mission is centered around the well-being and development of the children in its care.
Official website here: www.fostershome.org
Who is the CEO of Sherwood & Myrtie Foster's Home For Chil?
Doug Young is the Director of Sherwood & Myrtie Foster's Home For Chil. The CEO's salary of Sherwood & Myrtie Foster's Home For Chil is $104,723 and their total compensation is $130,241.
Official website here: www.fostershome.org
What is the revenue of Sherwood & Myrtie Foster's Home For Chil?
Sherwood & Myrtie Foster's Home For Chil's revenue in 2022 was $3,602,180.
Official website here: www.fostershome.org
Who are the executives of Sherwood & Myrtie Foster's Home For Chil and what are their salaries?
The average compensation at Sherwood & Myrtie Foster's Home For Chil during 2022 was $27,756. There are 71 employees and 50 volunteers at Sherwood & Myrtie Foster's Home For Chil.
Here are 21 key members and their salaries (Sherwood & Myrtie Foster's Home For Chil's CEO's salary is $104,723 and their total compensation is $130,241):
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- Compensation: $75,661
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- Compensation: $83,975
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- Compensation: $62,034
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- Other: $16,440
- Compensation: $104,723
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- Other: $25,518
- Compensation: $122,086
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- Other: $28,530
Official website here: www.fostershome.org
Where can I find the form 990 for Sherwood & Myrtie Foster's Home For Chil?
Sherwood & Myrtie Foster's Home For Chil's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.fostershome.org
Learn more at the official website: www.fostershome.org
Mission Statement of Sherwood & Myrtie Foster's Home For Chil
Sherwood & Myrtie Foster's Home for Children, established in 1958, is dedicated to providing child care and foster care placements. This nonprofit organization, initiated by Sherwood and Myrtie Foster, has been serving the needs of over 4,000 Texas children since the winter of 1960. Their mission is centered around offering a safe and nurturing environment for children in need, providing them with the care and support they require. The home stands as a beacon of hope, offering a second chance to children who may have been facing challenging circumstances. By taking on this mission, Foster's Home has been instrumental in shaping the lives of countless Texas children, providing them with the care they deserve.
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Impact
July, 2024
Sherwood & Myrtie Foster's Home For Children has made a significant impact on the lives of over 4,000 Texas children since its establishment in 1958. By providing child care and foster care placement services, the home has created a stable and nurturing environment for children in need. Through their mission to support vulnerable children, Sherwood & Myrtie Foster's Home For Children has positively influenced the lives of countless individuals and families in the community.
This information is meant to be a general summary of Sherwood & Myrtie Foster's Home For Chil. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$47,435
- Program Service Revenue: $822,918
- Gross Receipts: $5,127,528
Assets and Liabilities:
- Total Assets: $10,731,570
- Total Liabilities: $105,607
- Net Assets: $10,625,963
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CHILD CARE PROGRAM
Revenue
$822,918
Organization Details
Founding Year
1972
Phone
(254) 968-2143Principal Officer
Doug Young
Main Address
1779 N GRAHAM ST, STEPHENVILLE, TX, 76401
Website
www.fostershome.orgNTEE Category
Code: P70 - Human services
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