Bright Promises Foundation

Analysis

Bright Promises Foundation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in May 1921, 105 years ago. Its declared purposes cover animal-related, which this site groups under animals. 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, Bright Promises Foundation reported income of $1.5m and spending of $981k, leaving 33% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $682k to $1.5m (+115%), an average of +21% a year. The sharpest change came in the year to December 2022, when income rose by 68%. Over the whole period it spent 85% of the income it received.

Among 14,470 United States charities whose main cause is animals and that reported income, Bright Promises Foundation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 83rd percentile within IL. Charities of a similar size with the same main cause include Humane Society of Lackawanna County ($1.5m), Rescue Ranch ($1.5m) and Worcester County Humane Society Incorporated ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 85% of the total. Compensation of current officers, directors and key employees was $94k (9.6% of expenses). Other salaries and wages came to $156k. At year end it held assets of $6.3m against liabilities of $187k, net assets of $6.1m. It reported 2 employees.