Rockford Promise

Analysis

Rockford Promise is a registered charity in United States, based in Rockford, IL. It received its IRS tax-exemption ruling in February 2008, 18 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Rockford Promise reported income of $2.4m and spending of $1.1m, leaving 56% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $363k to $2.4m (+572%), an average of +89% a year. The sharpest change came in the year to June 2022, when income rose by 431%. Over the whole period it spent 43% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Rockford Promise sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within IL. Charities of a similar size with the same main cause include Innovation Academy West ($2.4m), Noahs Ark Child Care Center Inc ($2.4m) and Colorado Christian Academy ($2.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $95k (9.0% of expenses). Other salaries and wages came to $196k. At year end it held assets of $3.5m against liabilities of $18k, net assets of $3.5m. It reported 6 employees.