Sherwood & Myrtie Foster's Home For Children
Meets Standards
Standards For Charity Accountability
Governance
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Board Oversight
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Board Size
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Board Meetings
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Board Compensation
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Conflict of Interest
Measuring Effectiveness
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Effectiveness Policy
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Effectiveness Report
Finances
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Program Expenses
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Fundraising Expenses
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Accumulating Funds
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Audit Report
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Detailed Expense Breakdown
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Accurate Expense Reporting
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Budget Plan
Fundraising & Info
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Truthful Materials
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Annual Report
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Website Disclosures
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Donor Privacy
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Cause Marketing Disclosures
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Complaints
Sherwood & Myrtie Foster's Home For Children meets the 20 Standards for Charity Accountability.
Stated Purpose:
The mission of Foster’s Home is to “provide sanctuary and healing to children of trauma.”
Year, State Incorporated:
1972, TX
Also Known As:
Foster's Home For Children
This organization provides residential group care and foster care for public and private placement of children. This organization provides services for children throughout Texas, and are raised in a family home setting utilizing The Sanctuary Model®. Additional enrichment is provided with church services, participation in a 4-H program, and tutoring.
For the year ended August 31, 2017, Sherwood & Myrtie Foster's Home For Children's program expenses were:
| Children's services- Direct care | $1,804,062 |
| Children's services- Campus operations | $766,193 |
| Scholarship expense | $33,896 |
| Total Program Expenses | $2,604,151 |
Chief Executive
Glenn Newberry, President & CEO
Compensation*
$0
Chair of the Board
Mr. Earl Krieg Jr., Sr. VP Engineering
Chair's Profession / Business Affiliation
Board Size
Not disclosed
Paid Staff Size
49
Method(s) Used:
Direct mail appeals, Internet, Planned giving arrangements, Appeals via Social Media (Facebook, etc.)
This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
The following information is based on Sherwood & Myrtie Foster's Home For Children's audited financial statements - consolidated for the year ended August 31, 2017.
Source of Funds
| Contributions - Individuals and other organizations | $1,100,934 |
| Contracted services | $737,971 |
| Net assets released from restrictions | $641,178 |
| Realized and unrealized gains on investments | $562,678 |
| Contributions - Churches | $458,871 |
| Contributions - Fundraising appeals | $328,144 |
| Investment income - Interest and dividend income | $268,965 |
| Investment income - Oil royalty income | $164,365 |
| Contributions - Wills and estates | $87,261 |
| Contributions - Noncash contributions | $11,499 |
| Other income | $7,403 |
| Investment income - Real estate rentals | $892 |
| Loss on sale of property | $-111,169 |
| Total Income | $4,258,992 |
Programs: 72% Fundraising: 10% Administrative: 15%
| Total Income | $4,258,992 |
| Total expenses: | $3,615,893 |
| Program expenses | $2,604,151 |
| Fundraising expenses | $368,686 |
| Administrative expenses | $560,425 |
| Other expenses | $82,631 |
| Income in Excess of Expenses | $643,099 |
| Beginning Net Assets | $18,895,234 |
| Other Changes In Net Assets | $0 |
| Ending Net Assets | $21,056,709 |
| Total Liabilities | $911,252 |
| Total Assets | $21,056,709 |
An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the International Association of Better Business Bureaus.
This report is not to be used for fundraising or promotional purposes.
RELATED CONTENT
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Meets Standards
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Standards Not Met
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Did Not Disclose
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Review in Progress
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Unable to Verify
Report completed by:
BBB Serving the Heart of Texas