Charleston Promise Neighborhood

Analysis

Charleston Promise Neighborhood is a registered charity in United States, based in Charleston, SC. It received its IRS tax-exemption ruling in August 2011, 15 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 2024, Charleston Promise Neighborhood reported income of $1.4m and spending of $1.5m, spending 106% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.2m to $1.4m (+14%), an average of +3.2% a year. The sharpest change came in the year to June 2022, when income rose by 53%. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Charleston Promise Neighborhood sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 85th percentile within SC. Charities of a similar size with the same main cause include Hilltop Artists in Residence Program ($1.4m), Saddleback College Foundation ($1.4m) and Children and Family Enrichment at Idlewild ($1.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $142k (9.8% of expenses). Other salaries and wages came to $455k. At year end it held assets of $1.9m against liabilities of $138k, net assets of $1.8m. It reported 13 employees.