Universal Promise

Analysis

Universal Promise is a registered charity in United States, based in Newport, RI. It received its IRS tax-exemption ruling in May 2011, 15 years ago. Its declared purposes cover international, foreign affairs and national security, which this site groups under overseas aid and international. 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, Universal Promise reported income of $276k and spending of $235k, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $151k to $276k (+83%), an average of +16% a year. The sharpest change came in the year to December 2021, when income rose by 74%. Over the whole period it spent 93% of the income it received.

Among 10,317 United States charities whose main cause is overseas aid and international and that reported income, Universal Promise sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 56th percentile within RI. Charities of a similar size with the same main cause include Educational Center for New Americans Inc ($276k), Bridging the Gap Africa Inc ($277k) and Hope and Grace International ($276k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $84k (36% of expenses). At year end it held assets of $174k against liabilities of $421, net assets of $174k. It reported 1 employees.