Foster Foundation Inc

Richmond, VA
Tax-exempt since Oct. 2003
EIN: 20-0295545

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Philanthropy, Voluntarism and Grantmaking Foundations / Corporate Foundations (NTEE)

Donations to this organization are tax deductible.

Revenue

$112k (2023)

Expenses

$343k (2023)

Total Assets

$1.94M (2023)

Total Liabilities

$0 (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2023

Revenue

$111,991

Expenses

$342,818

Net Income

-$230,827

Net Assets

$1,938,341

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$1,390	1.2%
Interest Revenue	$2,702	2.4%
Dividends	$64,450	57.5%
Sales of Assets	$43,449	38.8%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$309,481	90.3%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,938,341
Total Liabilities	$0
Net Assets	$1,938,341

Compensation

Key Employees and Officers	Compensation	Other
Louise L Foster (Pres/Treas/Director)	$0	$0
Gilbert L Gates (Director)	$0	$0

990-PF

Filed on Nov. 13, 2024

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

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Fiscal Year Ending Dec.
2022

Revenue

$127,622

Expenses

$501,206

Net Income

-$373,584

Net Assets

$2,169,168

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$12,542	9.8%
Interest Revenue	$2,974	2.3%
Dividends	$58,000	45.4%
Sales of Assets	$54,106	42.4%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$454,293	90.6%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,169,168
Total Liabilities	$0
Net Assets	$2,169,168

Compensation

Key Employees and Officers	Compensation	Other
Louise L Foster (Pres/Treas/Director)	$0	$0
Gilbert L Gates (Director)	$0	$0

990-PF

Filed on Nov. 16, 2023

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

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Fiscal Year Ending Dec.
2021

Revenue

$190,719

Expenses

$540,567

Net Income

-$349,848

Net Assets

$2,542,752

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$3,262	1.7%
Interest Revenue	$3,786	2.0%
Dividends	$99,126	52.0%
Sales of Assets	$83,579	43.8%
Other Income	$966	0.5%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$495,325	91.6%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,542,752
Total Liabilities	$0
Net Assets	$2,542,752

Compensation

Key Employees and Officers	Compensation	Other
Louise L Foster (Pres/Treas/Director)	$0	$0
Gilbert L Gates (Director)	$0	$0

990-PF

Filed on Nov. 15, 2022

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

XML

Fiscal Year Ending Dec.
2020

Revenue

$355,119

Expenses

$687,122

Net Income

-$332,003

Net Assets

$2,893,691

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$250,000	70.4%
Interest Revenue	$4,617	1.3%
Dividends	$91,111	25.7%
Sales of Assets	$9,391	2.6%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$627,325	91.3%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,893,692
Total Liabilities	$1
Net Assets	$2,893,691

Compensation

Key Employees and Officers	Compensation	Other
Louise L Foster (Pres/Treas/Director)	$0	$0
Gilbert L Gates (Director)	$0	$0

990-PF

Filed on Nov. 13, 2021

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2019

Revenue

$162,435

Expenses

$874,392

Net Income

-$711,957

Net Assets

$3,233,933

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$5,775	3.6%
Dividends	$110,888	68.3%
Sales of Assets	$42,444	26.1%
Other Income	$3,328	2.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$819,905	93.8%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,233,934
Total Liabilities	$1
Net Assets	$3,233,933

Compensation

Key Employees and Officers	Compensation	Other
Louise L Foster (Pres/Treas/Director)	$0	$0
Gilbert L Gates (Director)	$0	$0

990-PF

Filed on Nov. 12, 2020

Primary tax return for a private foundation's activities, finances, and governance

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XML

Fiscal Year Ending Dec.
2018

Revenue

$192,093

Expenses

$759,269

Net Income

-$567,176

Net Assets

$3,945,891

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$7,574	3.9%
Dividends	$120,121	62.5%
Sales of Assets	$64,278	33.5%
Other Income	$120	0.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$715,110	94.2%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,945,891
Total Liabilities	$0
Net Assets	$3,945,891

Compensation

Key Employees and Officers	Compensation	Other
Louise L Foster (Pres/Treas/Director)	$0	$0
Gilbert L Gates (Director)	$0	$0

990-PF

Filed on Nov. 15, 2019

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

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Fiscal Year Ending Dec.
2017

Revenue

$373,462

Expenses

$755,432

Net Income

-$381,970

Net Assets

$4,513,067

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$7,974	2.1%
Dividends	$109,067	29.2%
Sales of Assets	$253,783	68.0%
Other Income	$2,636	0.7%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$723,771	95.8%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$4,513,067
Total Liabilities	$0
Net Assets	$4,513,067

Compensation

Key Employees and Officers	Compensation	Other
Louise L Foster (Pres/Treas/Director)	$0	$0
Gilbert L Gates (Director)	$0	$0

990-PF

Filed on Nov. 15, 2018

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

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Fiscal Year Ending Dec.
2016

Revenue

-$17,146

Expenses

$519,166

Net Income

-$536,312

Net Assets

$4,895,037

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$969
Interest Revenue	$8,109
Dividends	$101,197
Sales of Assets	-$127,421
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$489,159	94.2%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$4,895,037
Total Liabilities	$0
Net Assets	$4,895,037

Compensation

Key Employees and Officers	Compensation	Other
Louise L Foster (Pres/Treas/Director)	$0	$0
Gilbert L Gates (Director)	$0	$0

990-PF

Filed on July 31, 2017

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2015

Revenue

$122,832

Expenses

$472,665

Net Income

-$349,833

Net Assets

$5,431,349

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$8,509	6.9%
Dividends	$108,959	88.7%
Sales of Assets	$5,046	4.1%
Other Income	$318	0.3%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$421,071	89.1%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$5,431,349
Total Liabilities	$0
Net Assets	$5,431,349

Compensation

Key Employees and Officers	Compensation	Other
Louise L Foster (Pres/Treas/Director)	$0	$0
Gilbert L Gates (Director)	$0	$0

990-PF

Filed on Nov. 15, 2016

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

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Fiscal Year Ending Dec.
2014

Revenue

$712,458

Expenses

$467,561

Net Income

$244,897

Net Assets

$5,781,182

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$11,261	1.6%
Interest Revenue	$8,941	1.3%
Dividends	$109,122	15.3%
Sales of Assets	$583,134	81.8%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$427,089	91.3%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$5,781,182
Total Liabilities	$0
Net Assets	$5,781,182

Compensation

Key Employees and Officers	Compensation	Other
Louise L Foster (Pres/Treas/Director)	$0	$0
John N Foster Jr (Vice Pres/Sec/Director)	$0	$0
Gilbert L Gates (Director)	$0	$0

990-PF

Filed on Aug. 14, 2015

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

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Fiscal Year Ending Dec.
2013

Revenue

$467,751

Expenses

$780,445

Net Income

-$312,694

Net Assets

$5,536,285

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$26,182	5.6%
Interest Revenue	$3,800	0.8%
Dividends	$85,138	18.2%
Sales of Assets	$352,631	75.4%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$750,209	96.1%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$5,536,285
Total Liabilities	$0
Net Assets	$5,536,285

Compensation

Key Employees and Officers	Compensation	Other
Louise L Foster (Pres/Treas/Director)	$0	$0
John N Foster Jr (Vice Pres/Sec/Director)	$0	$0
Gilbert L Gates (Director)	$0	$0

990-PF

Filed on May 14, 2014

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2012

Revenue

$4,420,295

Expenses

$550,726

Net Income

$3,869,569

Net Assets

$5,848,979

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$4,249,715	96.1%
Interest Revenue	$40	0.0%
Dividends	$59,075	1.3%
Sales of Assets	$111,395	2.5%
Other Income	$70	0.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$540,847	98.2%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$5,852,429
Total Liabilities	$3,450
Net Assets	$5,848,979

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$147,568

Expenses

$227,201

Net Income

-$79,633

Net Assets

$1,979,409

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$85	0.1%
Dividends	$56,157	38.1%
Sales of Assets	$91,213	61.8%
Other Income	$113	0.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$214,755	94.5%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,979,410
Total Liabilities	$1
Net Assets	$1,979,409

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

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Foster Foundation Inc

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $112k (2023)

Expenses $343k (2023)

Total Assets $1.94M (2023)

Total Liabilities $0 (2023)

Tax Filings by Year

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2012

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Document Links

990-PF

Revenue

$112k (2023)

Expenses

$343k (2023)

Total Assets

$1.94M (2023)

Total Liabilities

$0 (2023)

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

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2021

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2019

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2018

Fiscal Year Ending Dec.
2017

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2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
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Fiscal Year Ending Dec.
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Fiscal Year Ending Dec.
2003