Fostering Hope Inc
EIN: 342003272 · Conway, SC · NTEE: P20
| Metric | Value |
|---|---|
| Total Revenue | $203K |
| Total Expenses | $94K |
| Net Assets | $1.1M |
Is Fostering Hope Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Fostering Hope Inc
Fostering Hope Inc (EIN: 342003272) is a nonprofit organization based in Conway, SC, classified under NTEE code P20. The organization reported total revenue of $203K and total assets of $1.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Fostering Hope Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Fostering Hope Inc is a small nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 8.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $283K |
| Total Expenses | $94K |
| Surplus / Deficit | +$189K |
| Total Assets | $1.1M |
| Net Assets | $1.1M |
| Operating Margin | 66.8% |
| Months of Reserves | 137.8 months |
Financial Health Grade: A
In 2023, Fostering Hope Inc reported a surplus of $189K with revenue exceeding expenses, holds 137.8 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Fostering Hope Inc's revenue has grown at a compound annual growth rate (CAGR) of 8.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +20.7% | -0.5% | +21.2% |
| 2022 | -2.0% | +16.2% | +18.7% |
| 2021 | +20.9% | +1.2% | +26.7% |
| 2020 | +6.7% | +22.9% | +11.5% |
| 2019 | +1.1% | -8.9% | +7.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Fostering Hope Inc 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 Fostering Hope Inc 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 $189K, with revenue exceeding expenses.
Frequently Asked Questions about Fostering Hope Inc
Is Fostering Hope Inc a legitimate charity?
Fostering Hope Inc (EIN: 342003272) is a registered tax-exempt nonprofit based in South Carolina. It has 13 years of IRS 990 filings on record. Total revenue: $203K. No red flags identified. Financial health grade: A.
How does Fostering Hope Inc spend its money?
Fostering Hope Inc reported $203K in total revenue in IRS 990 filings. 13 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Fostering Hope Inc tax-deductible?
Fostering Hope Inc is registered as a tax-exempt nonprofit (EIN: 342003272). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Fostering Hope Inc located?
Fostering Hope Inc is headquartered in Conway, South Carolina and files with the IRS under EIN 342003272. It is classified under NTEE code P20.
How many years of IRS 990 filings does Fostering Hope Inc have?
Fostering Hope Inc 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 $203K in total revenue.
Filing History
IRS 990 filing history for Fostering Hope Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Fostering Hope Inc's revenue has grown by 172.4%, moving from $104K to $283K. Total assets increased by 909.4% over the same period, from $107K to $1.1M. Total functional expenses rose by 24.7%, from $75K to $94K. In its most recent filing year (2023), Fostering Hope Inc reported a surplus of $189K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $283K | $94K | $1.1M | $0 | — | — |
| 2022 | $234K | $94K | $889K | $0 | — | View 990 |
| 2021 | $239K | $81K | $749K | $0 | — | View 990 |
| 2020 | $198K | $80K | $592K | $0 | — | View 990 |
| 2019 | $185K | $65K | $530K | $56K | — | View 990 |
| 2018 | $183K | $72K | $494K | $140K | — | View 990 |
| 2017 | $115K | $102K | $471K | $228K | — | View 990 |
| 2016 | $112K | $67K | $230K | $0 | — | View 990 |
| 2015 | $88K | $64K | $166K | $0 | — | View 990 |
| 2014 | $88K | $64K | $166K | $0 | — | View 990 |
| 2013 | $84K | $66K | $141K | $0 | — | View 990 |
| 2012 | $97K | $81K | $123K | $0 | — | View 990 |
| 2011 | $104K | $75K | $107K | $3K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $283K, expenses of $94K, and assets of $1.1M (revenue +20.7% year-over-year).
- 2022: Revenue of $234K, expenses of $94K, and assets of $889K (revenue -2.0% year-over-year).
- 2021: Revenue of $239K, expenses of $81K, and assets of $749K (revenue +20.9% year-over-year).
- 2020: Revenue of $198K, expenses of $80K, and assets of $592K (revenue +6.7% year-over-year).
- 2019: Revenue of $185K, expenses of $65K, and assets of $530K (revenue +1.1% year-over-year).
- 2018: Revenue of $183K, expenses of $72K, and assets of $494K (revenue +60.0% year-over-year).
- 2017: Revenue of $115K, expenses of $102K, and assets of $471K (revenue +1.8% year-over-year).
- 2016: Revenue of $112K, expenses of $67K, and assets of $230K (revenue +27.1% year-over-year).
- 2015: Revenue of $88K, expenses of $64K, and assets of $166K (revenue +0.0% year-over-year).
- 2014: Revenue of $88K, expenses of $64K, and assets of $166K (revenue +5.6% year-over-year).
- 2013: Revenue of $84K, expenses of $66K, and assets of $141K (revenue -13.2% year-over-year).
- 2012: Revenue of $97K, expenses of $81K, and assets of $123K (revenue -7.0% year-over-year).
- 2011: Revenue of $104K, expenses of $75K, and assets of $107K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Fostering Hope Inc:
Data Sources and Methodology
This transparency report for Fostering Hope Inc 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.