Village of Promise Incorporated

Analysis

Village of Promise Incorporated is a registered charity in United States, based in Huntsville, AL. It received its IRS tax-exemption ruling in May 2011, 15 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 July 2023, Village of Promise Incorporated reported income of $1.7m and spending of $1.9m, spending 114% of what it took in. Across the 5 years on record, from July 2019 to July 2023, income grew from $693k to $1.7m (+142%), an average of +25% a year. The sharpest change came in the year to July 2020, when income rose by 70%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Village of Promise Incorporated sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 88th percentile within AL. Charities of a similar size with the same main cause include Tammy Lynn Memorial Foundation Inc ($1.7m), Rural Alabama Prevention Center ($1.7m) and Council of Islamic Organizations of Greater Chicago ($1.7m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 84% and program service revenue 2.6% of the total. Compensation of current officers, directors and key employees was $54k (2.8% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $272k against liabilities of $83k, net assets of $189k. It reported 36 employees.