Forkids Inc

Nonprofit profile at a glance

EIN
541477799
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Chesapeake, VA, USA
Phone
7576226400
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Homeless Shelters

Official website

Reported finances

Revenue
$12,800,691
Expenses
$14,700,445
Assets
$27,984,402
Liabilities
$389,203

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

30 people listed

Executive titles in this filing

  • THALER MCCORMICK (CORPORATE SECRETARY/CEO)

Highest reported compensation

  • THALER MCCORMICK (CORPORATE SECRETARY/CEO): $246,276 total reported compensation
  • WILLIAM YOUNG (CHIEF INNOVATION OFFICER): $170,011 total reported compensation
  • SARAH JOHNSON (CHIEF OPERATING OFFICER): $162,319 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

With a mission of breaking the cycle of homelessness and poverty for families and children, forkids (forkids.org) provides comprehensive crisis response, shelter, housing, economic mobility and education programs across hampton roads.

What it reported doing in 2024

The housing crisis hotline, operated by forkids, serves as the central point of intake for households experiencing a housing crisis, answering 77,309 calls in fy25. Intake specialists connect callers to any one of hundreds of public and private resources throughout southeastern Virginia. Forkids' extended services, spanning 14 localities and over 3,000 square miles, impacted nearly 75,000 people in fy25.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 79
  • Accountability: 98
  • Sustainability: 38
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98%; rating input score 98
  • Program expense ratio: 85.6%; rating input score 86
  • Fundraising efficiency: $17.81 raised per $1 spent on fundraising; rating input score 54; 54th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 96.3%; rating input score 96; 30th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -14.8%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 1.9; rating input score 60; 60th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 4.9%; rating input score 51; 51st percentile among comparable filings

Growth

  • Program expense growth: 9.8% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: 8% per year; rating input score 100; 65th percentile among comparable filings
  • Asset growth: 13.7% per year; rating input score 100; 77th percentile among comparable filings

Details

  • Where the money goes: 98% of revenue deployed · 85.6% of spending went to programs
  • Governance: 26 of 27 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $12.6M in reported program spending
  • Leadership: top reported pay $246K · 30 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $186K reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 8 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 18 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 7/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 54/100.
  • Review — Sustainability: Officer compensation ratio scored 51/100.