Tomorrows Promise Inc

Analysis

Tomorrows Promise Inc is a registered charity in United States, based in Huntsville, TX. It received its IRS tax-exemption ruling in April 2000, 26 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Tomorrows Promise Inc reported income of $3.7m and spending of $2.7m, leaving 25% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $1.0m to $3.7m (+254%), an average of +52% a year. The sharpest change came in the year to December 2022, when income rose by 111%. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Tomorrows Promise Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 93rd percentile within TX. Charities of a similar size with the same main cause include Center for Urban Teaching Inc ($3.7m), Seacoast Charter School ($3.7m) and Harvest Ridge Schools ($3.7m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 44% and program service revenue 56% of the total. Other salaries and wages came to $1.2m. At year end it held assets of $1.8m against liabilities of $817k, net assets of $948k. It reported 99 employees.