Promise 686 Inc

Analysis

Promise 686 Inc is a registered charity in United States, based in Peachtree Corners, GA. It received its IRS tax-exemption ruling in August 2009, 17 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 686 Inc reported income of $4.0m and spending of $4.0m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.1m to $4.0m (+90%), an average of +17% a year. The sharpest change came in the year to December 2023, when income rose by 58%. Over the whole period it spent 91% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Promise 686 Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within GA. Charities of a similar size with the same main cause include Shed Inc ($4.0m), Arc of the Three Rivers Inc ($4.0m) and Safe Passage Inc ($4.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 5.7% of the total. Compensation of current officers, directors and key employees was $752k (19% of expenses). Other salaries and wages came to $1.6m. It paid $5,035 in professional fundraising fees. At year end it held assets of $2.1m against liabilities of $518k, net assets of $1.5m. It reported 40 employees.