Promise Healthcare NFP

Analysis

Promise Healthcare NFP is a registered charity in United States, based in Champaign, IL. It received its IRS tax-exemption ruling in November 2003, 23 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Promise Healthcare NFP reported income of $12.0m and spending of $13.2m, spending 110% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income grew from $5.4m to $12.0m (+122%), an average of +17% a year. The sharpest change came in the year to December 2021, when income rose by 55%. Over the whole period it spent 94% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Promise Healthcare NFP sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within IL. Charities of a similar size with the same main cause include United Cerebral Palsy of Northeastern Maine ($11.9m), Firstmed Health and Wellness Center ($12.0m) and Frontera Healthcare Network ($11.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 36% and program service revenue 63% of the total. Compensation of current officers, directors and key employees was $328k (2.5% of expenses). Other salaries and wages came to $6.1m. At year end it held assets of $5.9m against liabilities of $1.7m, net assets of $4.2m. It reported 152 employees.