THE FOSTER CLOSET CORP

EIN: 262931033 501(c)(3) Human Services

JACKSONVILLE, FL

Total Revenue
$365,653
Total Expenses
$344,705
Total Assets
$500,880
Net Assets
$468,149
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2008
Legal Domicile
FL
Principal Officer
Mark E Cook
Phone
9046292116
Tax Period
2024-01-01 to 2024-12-31

THE FOSTER CLOSET CORP, founded in 2008, is a small nonprofit in the Human Services sector that reported $366K in total revenue in fiscal year 2024. Revenue fell 43% from the prior year — a significant decline worth monitoring. Expenses of $345K left a modest 6% surplus.

Mission

The organization provides clothing,School Supplies, Car Seats, Christmas Gifts and Basic home living essentials to Foster Children in 5 surrounding counties.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $365,653
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $365,653

Expense Breakdown

Grants Paid $850
Salaries & Benefits $59,275
Fundraising Expenses $0
Program Expenses $170,204
Other Expenses $284,580
TOTAL EXPENSES $344,705

Year-over-Year Comparison

2024 2023 Change
Revenue $365,653 $643,424 -0.4%
Expenses $344,705 $586,032 -0.4%
Net Income $20,948 $57,392 -0.6%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
5
Independent Members
4
Employees
5
Volunteers
10

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$25,000
Total Directors
3
$25,000
Key Employees
1
$25,000
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Tammy McGuire President 35.00
Officer Director Key Emp Highest
$25,000 $0 $25,000
John McGuire Vice President 2.00
Officer Director
$0 $0 $0
Mark Cook Treasurer 2.00
Officer Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $365,653 $344,705 $500,880 $20,948
2023 $643,424 $586,032 $507,201 $57,392
2022 $480,403 $465,932 $465,944 $14,471
2021 $372,208 $384,292 $449,214 $-12,084
2020 $564,836 $513,936 $449,486 $50,900
2019 $613,557 $457,589 $321,101 $155,968
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