Foster Foundation Inc
Foster Foundation Inc is a private foundation, based in Richmond, VA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $1.9M in total assets. In 2024, it awarded 1 grant totaling $100K. Net investment income was $72K.
Foster Foundation Inc at a glance
In short: Foster Foundation Inc gave $100K across 1 grant in 2024 (avg $100K), mostly in North Carolina. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $100,000
- -67.2% vs 2023
- Grants made (2024)
- 1
- -83.3% vs 2023
- Average grant
- $100,000
- +96.7% vs 2023
- Median grant
- $100,000
- Total assets
- $1,907,098
- -1.6% vs 2023
- Primary geography
- North Carolina (100% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated September 2026.
Who Foster Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top recipient in 2024
The largest 2024 recipient was Boys & Girls Clubs of Greater High Point ($100K).
Grant Size Distribution
53 grants across all recorded years
The most common grant size was under $50K: 37 grants of 53 (70%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2024 grant dollars on its one itemized grant.
Cities
How Foster Foundation Inc gives
- Giving fell 80% from 2021 to 2024. Method
- In 2024 it paid out 66% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $100K (2024) to $624K (2020). In 2024 it made 1 grant totaling $100K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Boys & Girls Clubs of Greater High Point High Point, NC | Social Services | $100,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $1,907,098 | $109,459 | $140,702 | $100,000 | 1 | $103,318 | $72,175 | $156,144 |
| 2023 | $1,938,341 | $111,991 | $342,818 | $305,000 | 6 | $309,481 | $77,264 | $143,081 |
| 2022 | $2,169,168 | $127,622 | $501,206 | $451,500 | 14 | $454,293 | $87,373 | $210,477 |
| 2021 | $2,542,752 | $190,719 | $540,567 | $493,000 | 13 | $495,325 | $142,215 | $193,662 |
| 2020 | $2,893,692 | $355,119 | $687,122 | $623,750 | 19 | — | $45,322 | $177,692 |
Under IRS private-foundation payout rules, Foster Foundation Inc reported a distributable amount of $156K for 2024 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Foster Foundation Inc is led by Louise L. Foster, President, Treasurer & Director on every filing since 2020; none of the 2 officers listed in 2024 report compensation.
Officers on the 2024 filing
Louise L. Foster
President, Treasurer & Director
On filings since 2020
2 hrs/week
No compensation reported
Gilbert L. Gates
Director
On filings since 2020
1 hr/week
No compensation reported
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Foster Foundation Inc
How much does Foster Foundation Inc give each year?
Foster Foundation Inc gave $100K across 1 grant in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $305K across 6 grants.
How large is Foster Foundation Inc?
Foster Foundation Inc reported $1.9M in total assets on its 2024 IRS Form 990-PF. It paid out $103K in qualifying distributions that year, against a required minimum of $156K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
Where does Foster Foundation Inc operate?
Foster Foundation Inc has awarded grants in Florida, Illinois, Kentucky, North Carolina, Nevada, New York, Virginia.
What is Foster Foundation Inc's EIN?
Foster Foundation Inc's EIN (Employer Identification Number) is 20-0295545. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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Browse active grant opportunities in Foster Foundation Inc's focus areas in our free grants database
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