San Marcos Promise

Analysis

San Marcos Promise is a registered charity in United States, based in San Marcos, CA. It received its IRS tax-exemption ruling in August 2014, 12 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, San Marcos Promise reported income of $875k and spending of $976k, spending 112% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $702k to $875k (+25%), an average of +7.6% a year. The sharpest change came in the year to June 2022, when income rose by 44%. Over the whole period it spent 91% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, San Marcos Promise sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 79th percentile within CA. Charities of a similar size with the same main cause include Academy for Exceptional Learners ($875k), Entrepreneurs Organization ($875k) and Saints Peter and Paul Academy ($875k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 6.5% of the total. Compensation of current officers, directors and key employees was $203k (21% of expenses). Other salaries and wages came to $437k. At year end it held assets of $751k against liabilities of $669, net assets of $750k. It reported 7 employees.