Fostering Change for Children Ltd

Nonprofit profile at a glance

EIN
202242921
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-EZ 2010
Location
Brooklyn, NY, USA
Phone
6318330109
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Foster Care

Reported finances

Revenue
$811,052
Expenses
$697,715
Assets
$110,253
Liabilities
$0

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

Leadership & pay

8 people listed

Executive titles in this filing

  • BARRY CHAFFKIN (CEO&CO-FOUNDER)

Highest reported compensation

  • BARRY CHAFFKIN (CEO&CO-FOUNDER): $157,000 total reported compensation

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

Overview

Mission

To promote health welfare and economic status of disadvantaged children.

What it reported doing in 2024

Childrens Corps: Childrens Corps enhances NYCs child welfare system by infusing its workforce with dedicated professionals. Its goals are to: a) increase retention rates of frontline child welfare workers, b) improve outcomes for children and families, and c) create future leaders in child welfare and human services. Corps members are placed at one of 16 partner child welfare agencies throughout New York City and Westchester in caseworker and other frontline positions in foster care and preventive programs. Corps members commit to serving for two years and agencies provide full salaries and benefits. Since 2011, 500 Corps members have entered the program, 108 of whom are currently serving their two-year commitment. There are currently 209 alumni, the majority of whom are still working in child welfare, pursuing graduate degrees, and/or working in a related field that supports children and families.

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.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 70
  • Accountability: 95
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75%; rating input score 75
  • Program expense ratio: 87.2%; rating input score 87
  • Fundraising efficiency: $14.29 raised per $1 spent on fundraising; rating input score 49; 49th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 14%; rating input score 68; 68th percentile among comparable filings
  • Total-asset coverage ratio: 0.16; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 22.5%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 2.9% per year; rating input score 100; 31st percentile among comparable filings
  • Revenue growth: 4.9% per year; rating input score 100; 43rd percentile among comparable filings
  • Asset growth: 6.7% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: 75% of revenue deployed · 87.2% of spending went to programs
  • Governance: 7 of 7 board members independent · 7 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $608K in reported program spending
  • Leadership: top reported pay $157K · 8 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $143K reported
  • Consistency: 23 of 23 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • 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.

Key Signals

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

  • Moderate — Financial Efficiency: Fundraising efficiency scored 49/100.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Officer compensation ratio scored 12/100.