Chartway Promise Foundation

Analysis

Chartway Promise Foundation is a registered charity in United States, based in Virginia BCH, VA. It received its IRS tax-exemption ruling in March 2006, 20 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Chartway Promise Foundation reported income of $1.1m and spending of $1.0m, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $976k to $1.1m (+17%), an average of +4.1% a year. The sharpest change came in the year to December 2020, when income dropped by 44%. Over the whole period it spent 96% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Chartway Promise Foundation sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within VA. Charities of a similar size with the same main cause include Visit Org Philanthropic Foundation ($1.1m), National Alliance of Faith and Justice ($1.1m) and The Manna Center ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. At year end it held assets of $322k against liabilities of $112k, net assets of $210k.