2025-07-14T10:22:36-05:00 2024-08-31 741130599 PATTILLO BROWN & HILL LLP P O BOX 20725 WACO TX 767020725 990 2023-09-01 752446210 FOSTER'S HOME FOUNDATION FOST 2549682143 1779 N GRAHAM ST STEPHENVILLE TX 76401 DOUG YOUNG PRESIDENT/CEO 2549682143 2025-07-10 1 1 SHARON M HERWALD CPA P00079864 2547724901 2023 2025-03-06 01:10:19Z DOUG YOUNG 1779 N GRAHAM ST STEPHENVILLE TX 76401 4103867 0 X WWW.FOSTERSHOME.ORG X 1992 TX TO PROVIDE FUNDING TO OPERATE THE SHERWOOD & MYRTLE FOSTER HOME FOR CHILDREN 6 6 0 0 0 0 631140 3096168 0 0 814046 783569 250089 224130 1695275 4103867 0 777641 0 0 160000 160000 0 0 0 116572 107763 276572 1045404 1418703 3058463 19297499 24144686 371002 360712 18926497 23783974 TO PROVIDE FUNDING TO OPERATE THE SHERWOOD & MYRTIE FOSTER HOME FOR CHILDREN 0 0 777641 777641 PROVIDE FUNDING TO THE SHERWOOD & MYRTIE FOSTER HOME FOR CHILDREN INC FOR OPERATIONS 777641 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X X MICHELLE RUDLOFF 2549682143 1779 N GRAHAM ST STEPHENVILLE TX 76401 HEATH HAMRICK CHAIRMAN 1.00 1.00 X X 0 0 0 JEFF GILES VICE CHAIRMAN 1.00 1.00 X X 0 0 0 MIKE BLEVINS SECRETARY 1.00 1.00 X X 0 0 0 PHIL UHRHAN DIRECTOR 1.00 1.00 X X 0 0 0 CLINTON NIX DIRECTOR 1.00 1.00 X X 0 0 0 JOHN TERRILL DIRECTOR 1.00 1.00 X X 0 0 0 DOUG YOUNG PRESIDENT/CEO 10.00 40.00 X 0 124667 23184 0 124667 23184 0 0 0 0 0 3000000 96168 3096168 547017 547017 219651 219651 4479 0 4479 4479 4479 236552 0 236552 236552 236552 4103867 0 0 1007699 759257 759257 18384 18384 160000 160000 25243 25243 50308 50308 10000 10000 899 899 14075 14075 DUES & SUBSCRIPTIONS 7238 7238 1045404 777641 267763 0 500669 429864 195507 0 14577984 20034215 4023339 3680607 19297499 24144686 371002 360712 371002 360712 X 18666931 23530470 259566 253504 18926497 23783974 19297499 24144686 X 3058463 1826488 -27474 X X 0 1 X 1 0 X X X 1 SHERWOOD & MYRTIE FOSTER'S HOME FOR CHILDREN INC 751377874 7 1 759257 0 1 759257 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 285856 11000 108185 18384 386657 249097 22250 14509 285856 263519 22293 -25104 11611 249097 225450 4800 33269 263519 221835 300 3315 22450 0.10711 0.10604 0.78685 0 0 0 CHARITABLE REMAINDER TRUSTS 28828 OIL LEASE INVESTMENT 299740 LAND 3352039 3680607 ANNUITIES PAYABLE 348031 CHARITABLE REMAINDER TRUST LIABILITY 12681 360712 X 5880047 1826488 1826488 4053559 50308 50308 4103867 1022570 27474 27474 995096 50308 50308 1045404 PART V, LINE 4: ENDOWMENT FUNDS WERE ESTABLISHED FOR THE PURPOSE OF ASSISTING THE SHERWOOD & MYRTIE FOSTER HOME FOR CHILDREN WITH THE COST OF HIGHER EDUCATION FOR THE CHILDREN. PART X, LINE 2: THE FOUNDATION IS ORGANIZED AS A TEXAS NONPROFIT CORPORATION AND HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3), QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTIONS 170(B)(1)(A)(VI) AND (VIII), AND HAS BEEN DETERMINED NOT TO BE A PRIVATE FOUNDATION UNDER SECTIONS 509(A)(1) AND (3), RESPECTIVELY. THE FOUNDATION IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT IS UNRELATED TO ITS EXEMPT PURPOSES. MANAGEMENT HAS DETERMINED THAT THE FOUNDATION IS NOT SUBJECT TO UNRELATED BUSINESS INCOME TAX AND HAS NOT FILED AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FROM 990-T) WITH THE IRS. MANAGEMENT BELIEVES THAT THE FOUNDATION HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE FOUNDATION WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AND LIABILITIES IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. PART XI, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT MANGAGEMENT FEES NETTED WITH INVESTEMENT INCOME ON AUDIT 50,308. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 27,474. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT FEES NETTED WITH INVESTMENT INCOME ON AUDIT 50,308. 0 SHERWOOD & MYRTIE FOSTER'S HOME FOR CHILDREN P O BOX 978 STEPHENVILLE TX 76401 751377874 501(C)(3) 759256 0 FUND OPERATIONS SCHOLARSHIPS 8 18084 FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 IS PRESENTED TO THE ORGANIZATION'S GOVERNING BODY PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C A WRITTEN CONFLICT OF INTEREST POLICY IS PRESENT AND THE BOARD MEMBERS REVIEW AND SIGN IT ANNUALLY. COMPLIANCE IS MONITORED AND ENFORCED BY REFUSAL TO ENGAGE IN ANY MONETARY TRANSACTIONS FROM THE FOUNDATION TO THE BOARD. THIS INVOLVES REFUSING TO UTILIZE ANY BOARD MEMBER, OR THEIR COMPANY, FOR SERVICES RENDERED. BOARD MEMBERS ALSO ABSTAIN AS NECESSARY FROM ANY VOTES THAT MAY PERTAIN TO A PERSONAL CONFLICT OF INTEREST RELATED TO RELATIONSHIPS, TRANSACTIONS, OR POSITIONS. IF A BOARD MEMBER PERCEIVES THEY, OR ANOTHER BOARD MEMBER, MAY HAVE A CONFLICT OF INTEREST, IT IS BROUGHT UP FOR DISCLOSURE AND DISCUSSION. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE DIRECTOR'S SALARY IS DISCUSSED AND APPROVED BY THE BOARD OF DIRECTORS AND THEN IS RECORDED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. THE FINANCIAL STATEMENTS ARE ALSO AVAILABLE ON THE ORGANIZATION'S WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -27,474. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. SHERWOOD & MYRTIE FOSTER HOME FOR CHILDREN P O BOX 978 STEPHENVILLE TX 76401 751377874 CHILD CARE AND FOSTER CARE CHILD PLACEMENT TX 501(C)(3) LINE 7 0 0 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 SHERWOOD & MYRTIE FOSTER HOME FOR CHILDREN INC B 759256 ACV SHERWOOD & MYRTIE FOSTER HOME FOR CHILDREN INC C 3000000 ACV