Oakland Promise

Analysis

Oakland Promise is a registered charity in United States, based in Oakland, CA. It received its IRS tax-exemption ruling in November 2003, 23 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, Oakland Promise reported income of $13.5m and spending of $16.4m, spending 122% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.8m to $13.5m (+652%), an average of +66% a year. The sharpest change came in the year to June 2020, when income rose by 1061%. Over the whole period it spent 71% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Oakland Promise sits at the 95th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within CA. Charities of a similar size with the same main cause include Legacy Traditional School Maricopa ($13.5m), Brooklyn Excelsior Charter School ($13.5m) and Denver Language School ($13.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $733k (4.5% of expenses). Other salaries and wages came to $3.2m. At year end it held assets of $74.0m against liabilities of $6.6m, net assets of $67.5m. It reported 47 employees.