Foster Care Closet
EIN: 260595115 · Lincoln, NE · NTEE: P50
| Metric | Value |
|---|---|
| Total Revenue | $679K |
| Total Expenses | $679K |
| Net Assets | $266K |
Is Foster Care Closet Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Foster Care Closet
Foster Care Closet (EIN: 260595115) is a nonprofit organization based in Lincoln, NE, classified under NTEE code P50. The organization reported total revenue of $679K and total assets of $228K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Foster Care Closet's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Foster Care Closet is a small nonprofit that has been operating for 18 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 12.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $693K |
| Total Expenses | $679K |
| Surplus / Deficit | +$14K |
| Total Assets | $280K |
| Total Liabilities | $15K |
| Net Assets | $266K |
| Operating Margin | 2.0% |
| Debt-to-Asset Ratio | 5.2% |
| Months of Reserves | 5.0 months |
Financial Health Grade: A
In 2023, Foster Care Closet reported a surplus of $14K with revenue exceeding expenses, holds 5.0 months of operating reserves (adequate), has a debt-to-asset ratio of 5.2% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Foster Care Closet's revenue has grown at a compound annual growth rate (CAGR) of 12.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -0.1% | +16.9% | +5.9% |
| 2022 | +32.9% | +30.8% | +76.7% |
| 2021 | +27.8% | +6.3% | +110.0% |
| 2020 | -1.3% | +8.9% | -5.4% |
| 2019 | +2.1% | -2.1% | +70.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2008 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Foster Care Closet has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Foster Care Closet with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $14K, with revenue exceeding expenses.
- Debt-to-asset ratio: 5.2%.
Frequently Asked Questions about Foster Care Closet
Is Foster Care Closet a legitimate charity?
Based on AI analysis of IRS 990 filings, Foster Care Closet (EIN: 260595115) insufficient data. 0 red flags identified, 0 strengths noted.
How does Foster Care Closet spend its money?
Detailed spending breakdown data is not yet available for Foster Care Closet. Check back for updated IRS 990 analysis.
Are donations to Foster Care Closet tax-deductible?
Foster Care Closet is registered as a tax-exempt nonprofit (EIN: 260595115). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Foster Care Closet located?
Foster Care Closet is headquartered in Lincoln, Nebraska and files with the IRS under EIN 260595115. It is classified under NTEE code P50.
How many years of IRS 990 filings does Foster Care Closet have?
Foster Care Closet has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $679K in total revenue.
Filing History
IRS 990 filing history for Foster Care Closet showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Foster Care Closet's revenue has grown by 294.5%, moving from $176K to $693K. Total assets increased by 901.7% over the same period, from $28K to $280K. Total functional expenses rose by 294.1%, from $172K to $679K. In its most recent filing year (2023), Foster Care Closet reported a surplus of $14K, with revenue exceeding expenses. The organization holds $15K in liabilities against $280K in assets (debt-to-asset ratio: 5.2%), resulting in net assets of $266K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $693K | $679K | $280K | $15K | — | — |
| 2022 | $693K | $581K | $265K | $13K | — | View 990 |
| 2021 | $522K | $444K | $150K | $11K | — | View 990 |
| 2020 | $408K | $418K | $71K | $10K | — | View 990 |
| 2019 | $413K | $384K | $75K | $5K | — | View 990 |
| 2018 | $405K | $392K | $44K | $3K | — | View 990 |
| 2017 | $335K | $324K | $31K | $4K | — | View 990 |
| 2016 | $237K | $219K | $18K | $0 | — | View 990 |
| 2015 | $125K | $130K | $11K | $0 | — | View 990 |
| 2014 | $129K | $124K | $16K | $0 | — | View 990 |
| 2013 | $99K | $108K | $11K | $0 | — | View 990 |
| 2012 | $103K | $110K | $21K | $0 | — | View 990 |
| 2011 | $176K | $172K | $28K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $693K, expenses of $679K, and assets of $280K (revenue -0.1% year-over-year).
- 2022: Revenue of $693K, expenses of $581K, and assets of $265K (revenue +32.9% year-over-year).
- 2021: Revenue of $522K, expenses of $444K, and assets of $150K (revenue +27.8% year-over-year).
- 2020: Revenue of $408K, expenses of $418K, and assets of $71K (revenue -1.3% year-over-year).
- 2019: Revenue of $413K, expenses of $384K, and assets of $75K (revenue +2.1% year-over-year).
- 2018: Revenue of $405K, expenses of $392K, and assets of $44K (revenue +20.8% year-over-year).
- 2017: Revenue of $335K, expenses of $324K, and assets of $31K (revenue +41.4% year-over-year).
- 2016: Revenue of $237K, expenses of $219K, and assets of $18K (revenue +89.5% year-over-year).
- 2015: Revenue of $125K, expenses of $130K, and assets of $11K (revenue -2.8% year-over-year).
- 2014: Revenue of $129K, expenses of $124K, and assets of $16K (revenue +30.4% year-over-year).
- 2013: Revenue of $99K, expenses of $108K, and assets of $11K (revenue -4.1% year-over-year).
- 2012: Revenue of $103K, expenses of $110K, and assets of $21K (revenue -41.4% year-over-year).
- 2011: Revenue of $176K, expenses of $172K, and assets of $28K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Foster Care Closet:
Data Sources and Methodology
This transparency report for Foster Care Closet is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.