Promiseland Preschool Inc

Analysis

Promiseland Preschool Inc is a registered charity in United States, based in Kaufman, TX. It received its IRS tax-exemption ruling in October 2017, 9 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 August 2023, Promiseland Preschool Inc reported income of $2.6m and spending of $2.2m, spending 84% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $1.4m to $2.6m (+83%), an average of +16% a year. The sharpest change came in the year to August 2021, when income rose by 62%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Promiseland Preschool Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 91st percentile within TX. Charities of a similar size with the same main cause include Evolve Adoption & Family Services ($2.6m), Iowa Community Action Association ($2.6m) and My Very Own Blanket Project ($2.6m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 40% and program service revenue 60% of the total. Compensation of current officers, directors and key employees was $79k (3.5% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $840k against liabilities of $25k, net assets of $815k. It reported 70 employees.