TIDEWATER FRIENDS OF FOSTER CARE INCORPORATED

EIN: 812887214 501(c)(3) Philanthropy & Grantmaking

NORFOLK, VA

Total Revenue
$2,199,836
Total Expenses
$1,314,338
Total Assets
$2,383,532
Net Assets
$2,378,591
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Financial Trends

Organization Details

Formation Year
2016
Legal Domicile
VA
Principal Officer
AUDRA BULLOCK
Phone
7572274187
Tax Period
2023-01-01 to 2023-12-31

TIDEWATER FRIENDS OF FOSTER CARE INCORPORATED, founded in 2016, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $642K in total revenue in fiscal year 2020. Revenue grew 8% year-over-year, indicating healthy expansion.

Mission

BELIEVING THAT EVERY CHILD DESERVES A HEALTHY AND HAPPY CHILDHOOD. TIDEWATER FRIENDS OF FOSTER CARE (TFFC) IS COMMITTED TO ENRICHING THE LIVES OF FOSTER CHILDREN IN OUR COMMUNITY. FOSTER CHILDREN OFTEN MISS OUT ON KEY ELEMENTS OF A HEALTHY AND HAPPY CHILDHOOD, SUCH AS A STABLE FAMILY ENVIRONMENT, EXTRACURRICULAR ACTIVITIES AND ENRICHMENT PROGRAMS, AND INDIVIDUALIZED TUTORING/MENTORING, DUE TO LACK OF A FAMILY PLACEMENT, FUNDING LIMITATIONS, AND INSUFFICIENT ACCESS TO SUPPLEMENTARY PROGRAMS. THE MISSON OF TFFC IS TO ADDRESS THESE ISSUES THROUGH TARGETED OUTREACH TO INCREASE THE NUMBER OF AVAILABLE FAMILY FOSTER HOMES, THEREBY REDUCING THE NEED FOR GROUP-HOME PLACEMENTS FOR CHILDREN, PROVIDING FUNDING FOR ENRICHMENT PROGRAMS THAT BRIDGE THE GAP BETWEEN WHAT IS AVAILABLE FROM PUBLIC SERVICES AND THOSE ELEMENTS THAT ARE ESSENTIAL TO A HEALTHY AND HAPPY CHILDHOOD.THROUGH ITS PHILANTHROPY, TFFC STRIVES TO ENSURE ALL CHILDREN IN THE FOSTER CARE SYSTEM HAVE THE BEST CHILDHOOD POSSIBLE.

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,112,896
Program Service Revenue $0
Investment Income $35,343
Other Revenue $51,597
TOTAL REVENUE $2,199,836

Expense Breakdown

Grants Paid $0
Salaries & Benefits $213,301
Fundraising Expenses $30,737
Program Expenses $1,256,419
Other Expenses $1,101,037
TOTAL EXPENSES $1,314,338

Year-over-Year Comparison

2023 2022 Change
Revenue $2,199,836 $1,139,691 +0.9%
Expenses $1,314,338 $927,520 +0.4%
Net Income $885,498 $212,171 +3.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
13
Independent Members
13
Employees
7
Volunteers
92

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
2
$0
Total Directors
13
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
AUDRA BULLOCK PRESIDENT 40.00
Officer Director
$0 $0 $0
T RICHARD LITTON JR SECRETARY & TREASURER 1.00
Officer Director
$0 $0 $0
ANGELINA HOPKINS DIRECTOR 1.00
Director
$0 $0 $0
MARCELLA DAVIS DIRECTOR 1.00
Director
$0 $0 $0
KEN SHEWBRIDGE DIRECTOR 1.00
Director
$0 $0 $0
MARY E BONSBY-BROCK DIRECTOR 1.00
Director
$0 $0 $0
ROBERT E MCCARTNEY DIRECTOR 1.00
Director
$0 $0 $0
JOY RIOS DIRECTOR 1.00
Director
$0 $0 $0
TRACY KELLER DIRECTOR 1.00
Director
$0 $0 $0
LAKYSHA LAING DIRECTOR 1.00
Director
$0 $0 $0
CHUCK GRAY DIRECTOR 1.00
Director
$0 $0 $0
KATE POWELL DIRECTOR 1.00
Director
$0 $0 $0
TASHARA BAILEY DIRECTOR 1.00
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
2025 No data No data No data No data
2024 No data No data No data No data
2023 $2,199,836 $1,314,338 $2,383,532 $885,498
2022 $1,139,691 $927,520 $1,371,901 $212,171
2021 $1,159,269 $671,556 $1,222,065 $487,713
2020 $641,967 $679,591 $733,164 $-37,624
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