Foster College EIN 75-0891475 Form 990 (PDF) Claim this org

Foster College

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Form 990 for the fiscal year ending December 2024 (IRS tax year 2024).


Equips students to live, serve, and lead with Godly influence globally. For fiscal year 2024 it reported $591K in revenue, $977K in expenses, and $-173K in net assets.Pt I

Founded
1927
Type
Higher education institution · Education
Location
Dallas, TX
Website
www.foster.edu
Filings
6 on file (2019–2024)
Revenue
$591KFY2024
Expenses
$977K
Net assets
$-173K
People
9
Filings
6
Updates
0
More identity details & actions ⌄
EIN  75-0891475 Higher education institution Dallas, TX Founded 1927
Form 990 (PDF)
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Size
$100K–1M
What they do
Equips students to live, serve, and lead with Godly influence globally.
Leadership
Terrance Ford · President · $86K
Money in and out
$591K revenue, $977K expenses
Bottom line
-65% operating surplus
Financial scale & money flow · FY2024
Total revenue
$591K
Pt VIII · Ln 12
Total expenses
$977K
Pt IX · Ln 25
Net assets
$-173K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$386K
Where spending went · Part IX cols B–D
Program services $0.52 Management & general $0.18 Fundraising $0.30
Operating surplus
-65%
revenue over expenses, this legal entity▼ -307% vs prior filing year
Payroll share
31%
of this entity's spending is salaries & benefits▼ -12% vs prior filing year
Program spending
52%
of expenses reach program services▼ -4% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$591K
FY2024▼ -24%
Expenses
$977K
FY2024▲ +8%
Total assets
$576K
FY2024▼ -37%
Total liabilities
$749K
FY2024▲ +7%
Revenue less expensesPt I · Ln 19−$386K
Total assetsPt X · Ln 16$576K
Program-expense ratioPt IX · col B52%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 48

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CFoster College
EINHdr · item D75-0891475
Principal addressHdr · item CDallas, TX
WebsiteHdr · item Jwww.foster.edu
Year of formationHdr · item L1927
State of legal domicileHdr · item MTX
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B99Z)
Ruling yearIRS BMFApr 1953

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a8
Independent voting membersPt VI · Ln 1b8
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
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
President
$86,044Pt VII · Sec A
$0Pt VII · Sec A
Board Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Terrance Ford’s $86K as President is at the 76th percentile of top reported officer pay among 1613 $100K–1M education 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 · 2 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Terrance Ford$86,044$87,023$69,643$58,109
Martin E Hawkins$13,591$9,409

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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Mission & Programs · Part III

Where the work happens

1 program service account for $504K of program spending, described in the organization's own filed words · FY2024.
01

Our focus is to prepare individuals through rigorous academic instruction in truth of Holy Scripture, for more effective service in their home, church, community, and in the world. The desire is to produce graduates who are servant leaders in the ministry field regardless of denominational affiliation and distinctively marked by Foster…

$504Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$576K · 97%
Program service revenue$83K · 14%
Contributions & grants97%$576K
Program service revenue14%$83K
Investment income$204
Total revenueLn 12$591K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.52 Management & general $0.18 Fundraising $0.30
Program services52%$504K
Management & general18%$176K
Fundraising30%$297K
Total functional expensesLn 25$977K

Balance Sheet

Part X · end of year
CashLn 1$21K
Total assetsLn 16$576K
Total liabilitiesLn 26$749K
Total net assetsLn 32$-173K
Months of cash on handcomputed0.3

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $21K · Operating expenses (Pt IX) $977K · Less non-cash grants $1K · Cash operating expenses/yr $976K
0.3 months
Where the money goes
Program services
Program services $504K · Total expenses $977K
52%
Management & General
Management & general $176K · Total expenses $977K
18%
Fundraising
Fundraising $297K · Total expenses $977K
30%
Cost to raise $1
Fundraising expense (3-yr avg) $268K · Solicited contributions (3-yr avg) $513K
$0.52 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $576K · Total revenue $591K
97%
Government reliance
Government grants — · Total revenue $591K
Earned-income share
Program service revenue $83K · Total revenue $591K
14%
Investment reliance
Investment income $204 · Total revenue $591K
+0.03%
Program self-sufficiency
Program service revenue $83K · Total expenses $977K
8%
Growth & trend
Revenue growth (YoY)
This year $591K · Prior year $780K
-24%
Revenue CAGR
FY2018 $598K · FY2024 $591K
-0.2%
Net-asset trend (YoY)
End of year $-173K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $591K · Expenses $977K
-65%
Liabilities-to-Assets
Total liabilities — · Total assets $576K
Net-asset ratio
Net assets $-173K · Total assets $576K
-30%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $576K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Terrance Ford · Reported title President · Highest reported compensation $86K · Total expenses $977K
9%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $307K · Total expenses $977K
31%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 52%
Overhead ratio 18%
Fundraising cost ratio 52%
Revenue growth -24%

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 · funders on record
Grants received · FY2024
See all 5 funders →

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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
FY2024$780K revenue · ⤓ 990 PDF
FY2023$334K revenue · ⤓ 990 PDF
FY2022$794K revenue · ⤓ 990 PDF
FY2021$1.4M revenue · ⤓ 990 PDF
FY2020$661K revenue · ⤓ 990 PDF
FY2019$598K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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