Bananas Foster Inc

What it reported doing in 2024

Potassium care baskets - because we only celebrate one family/individual per game, we know there are thousands of families we can't share their stories. It's commonly referred that 50% of foster parents will quit after their first year due to a lack of support. With the potassium care basket program, we want to support everyone in the foster care community. If we know there is a family in need, we want to help support them in their journey, so we send them a care basket. In 2024, we sent 75 potassium care baskets to support those in the foster care community. These baskets were personalized to the needs of the family. For example, a family that just welcomed a teenager into their home and needs some support - they would get a basket that has essential items for the teen but also crafts, games, and activities that are age appropriate and help make the transition of a new home more bearable. The potassium care baskets also go to newly licensed foster families, to provide support right from the start of their journey. Bananas foster works directly with licensing agencies to send baskets to families when they get licensed as a welcome to the community that makes a difference. Our long-term goal for this program is to be the first call/email/letter when families need something in their foster care journey. Many families will say no to a child because of the lack of support or need for specific items, we want this program to eliminate any no, and give families the confidence to say yes to a child in need because bananas foster will be there to support them. We hope that in the future every foster/bio/kinship family that comes into contact with bananas foster will be given a potassium care basket to feel supported.

Financial Efficiency

• Mission deployment rate: 39.3%; rating input score 39
• Program expense ratio: 59.8%; rating input score 60
• Fundraising efficiency: $5.8 raised per $1 spent on fundraising; rating input score 25; 25th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 2 of 8 controls in place; rating input score 25
  • Conflict-of-interest policy: Fail
  • Whistleblower policy: Fail
  • Document-retention policy: Fail
  • CEO compensation review process: Fail
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Missing
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: 34.3%; rating input score 85; 85th percentile among comparable filings
• Total-asset coverage ratio: 1.05; rating input score 42; 42nd percentile among comparable filings
• Liabilities to assets ratio: 0.03; rating input score 38; 38th percentile among comparable filings
• Officer compensation ratio: 33.4%; rating input score 9; 9th percentile among comparable filings

Growth

• Program expense growth: Limited
• Revenue growth: 83.4% per year; rating input score 100; 99th percentile among comparable filings
• Asset growth: 71.1% per year; rating input score 100; 98th percentile among comparable filings