Promesa Foundation Inc

Analysis

Promesa Foundation Inc is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in September 1987, 39 years ago. Its declared purposes cover mental health and crisis intervention, which this site groups under health and saving lives. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Promesa Foundation Inc reported income of $3.2m and spending of $3.2m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $4.3m to $3.2m (-26%), an average of -7.2% a year. The sharpest change came in the year to December 2021, when income rose by 116%. Over the whole period it spent 85% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Promesa Foundation Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 86th percentile within NY. Charities of a similar size with the same main cause include Memorycare ($3.2m), Danforth Habilitation Association ($3.2m) and PSFC ($3.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 10% and program service revenue 84% of the total. At year end it held assets of $28.1m against liabilities of $22.1m, net assets of $6.0m.