Corporate Watch have published an article highlighting the amount of commercial profit made by some foster care organisations.
As foster care is paid for using public money, FCC believe any surplus income after running costs should be re-invested back into an organisation to provide more support for the children.
This is not about the standard of the provision of care being offered. It is about the proper use of limited local authority money allocated to childcare – particularly at a time when that funding is at the mercy of so many cuts.
You can read the article here: https://corporatewatch.org/news/2015/dec/15/foster-care-business
This follows on from meetings with FTSE (Fostering Through Social Enterprise) this week, where it was agreed that not-for-profit fostering organisations should refer to themselves as NFP Fostering Providers (not-for-profit fostering providers) in order to rightly distance themselves from those that make a commercial profit from foster care.
Independent providers of foster care have previously been referred to as IFAs (Independent Fostering Providers) – an umbrella term used to include both profit making and not-for-profit organisations, particularly by local authorities.
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