Project Promise

Analysis

Project Promise is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in November 2015, 11 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 August 2023, Project Promise reported income of $566k and spending of $598k, spending 106% of what it took in. Across the 4 years on record, from August 2019 to August 2023, income grew from $526k to $566k (+7.5%), an average of +2.5% a year. The sharpest change came in the year to August 2023, when income dropped by 15%. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Project Promise sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 72nd percentile within IL. Charities of a similar size with the same main cause include Multicultural Learning Center Foundation ($566k), South Carolina First Steps to School Readiness Board of Trustees ($566k) and Foundation for the Young Womens Leadership Academy of Fort Worth ($566k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $288k. At year end it held assets of $65k against liabilities of $9,779, net assets of $56k. It reported 19 employees.