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Foster Progress EIN 47-3959210

Foster Progress FY2023 filing

EIN  47-3959210 Public charity (501(c)(3)) Chicago, IL
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →
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Size
$100K–1M
What they do
Helps foster youth earn college degrees and succeed in adulthood through mentorship and support.
Leadership
Kate Danielson · Executive Director · $67K
Money in and out
$512K revenue, $352K expenses
Bottom line
71% program efficiency

Helps foster youth earn college degrees and succeed in adulthood through mentorship and support. For fiscal year 2023 it reported $512K in revenue, $352K in expenses, and $264K in net assets.Pt I

Where the money goes · FY2023
Total revenue
$512K
Pt VIII · Ln 12
Total expenses
$352K
Pt IX · Ln 25
Net assets
$264K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $160K
Where spending went · Part IX cols B–D
Program services $0.71 Management & general $0.17 Fundraising $0.12
Program efficiency
71%
of spending reaches programs
Operating runway
9.6mo
months of highly liquid reserves at operating expense rate
Surplus margin
+31%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$512K
FY2023▲ +868%
Expenses
$352K
FY2023
Total assets
$266K
FY2023
Total liabilities
$2K
FY2023
Total revenue
$512K
Pt VIII · Ln 12
Total expenses
$352K
Pt IX · Ln 25
Net assets
$264K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$160K
Total assetsPt X · Ln 16$266K
Program-expense ratioPt IX · col B71%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 49
Mission & Programs · Part III

Where the work happens

1 program service account for $248K of program spending, described in the organization's own filed words · FY2022.
01

The mentoring and scholarship program for the seniors graduate high school. Also, providing on-line training and coaching for caseworkers, students, foster parents, and educators on how to foster success for young people.

$248Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CFoster Progress
EINHdr · item D47-3959210
Principal addressHdr · item CChicago, IL
WebsiteHdr · item Jwww.foster-progress.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MIL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHuman Services (P32)
Ruling yearIRS BMFJun 2016

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b9
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Kate Danielson
Executive Director
$66,758Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Tony Escobar
Director
$0Pt VII · Sec A
Meegan Dugan Bassett
Director (resigned 12/22)
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Matt Ward
Director
$0Pt VII · Sec A

Kate Danielson’s $96K as Executive Director is at the 84th percentile of top reported officer pay among 2165 $100K–1M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2021
Kate Danielson$95,587$92,827$66,758$59,042

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants$495K · 97%
Other revenue$17K · 3%
Contributions & grants97%$495K
Other revenue3%$17K
Investment income$287
— government grantsLn 1e$109K
Total revenueLn 12$512K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.71 Management & general $0.17 Fundraising $0.12
Program services71%$248K
Management & general17%$60K
Fundraising12%$43K
Total functional expensesLn 25$352K

Balance Sheet

Part X · end of year
CashLn 1$266K
Total assetsLn 16$266K
Total liabilitiesLn 26$2K
Total net assetsLn 32$264K
Months of cash on handcomputed9.1

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $266K · Operating expenses (Pt IX) $352K · Less non-cash grants $20K · Cash operating expenses/yr $332K
9.6 months
Where the money goes
Program services
Program services $248K · Total expenses $352K
71%
Management & General
Management & general $60K · Total expenses $352K
17%
Fundraising
Fundraising $43K · Total expenses $352K
12%
Cost to raise $1
Fundraising expense (2-yr avg) $32K · Solicited contributions (2-yr avg) $321K
$0.10 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $495K · Total revenue $512K
97%
Government reliance
Government grants $109K · Total revenue $512K
21%
Earned-income share
Program service revenue $0 · Total revenue $512K
0%
Investment reliance
Investment income $287 · Total revenue $512K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $352K
0%
Growth & trend
Revenue growth (YoY)
This year $512K · Prior year $53K
+868%
Net-asset trend (YoY)
End of year $264K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $512K · Expenses $352K
+31%
Liabilities-to-Assets
Total liabilities — · Total assets $266K
—
Net-asset ratio
Net assets $264K · Total assets $266K
99%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $266K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Kate Danielson · Reported title Executive Director · Highest reported compensation $67K · Total expenses $352K
19%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $211K · Total expenses $352K
60%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 71%——
Overhead ratio 17%——
Fundraising cost ratio 9%——
Revenue growth 868%——
Legal fee ratio 0%——
Accounting fee ratio 0%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
The Ayco Charitable FoundationFY2025$7K
Total grants receivedfrom 1 funder$7K
Grants paid · 3 grants · $143K · 2022–2024
Unitemized GrantFY2024$77,814
Unitemized GrantFY2023$55,243
Unitemized GrantFY2022$10,381

Similar Organizations

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Foster Alumni MentorsCO
A Home Base for Transitioning Foster Youth INCTX
Journey to Adult SuccessWI
Pathways in Education IllinoisCA
Forward Steps FoundationCO
Ready to SucceedCA
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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$770K revenue · ⤓ 990 PDF
FY2024$705K revenue · ⤓ 990 PDF
FY2023$512K revenue · viewing · ⤓ 990 PDF
FY2022not on file
FY2021$151K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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