Hartford Promise Inc

Analysis

Hartford Promise Inc is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in October 2016, 10 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, Hartford Promise Inc reported income of $2.1m and spending of $2.3m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.5m to $2.1m (-14%), an average of -3.8% a year. The sharpest change came in the year to June 2021, when income rose by 86%. Over the whole period it spent 58% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Hartford Promise Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within CT. Charities of a similar size with the same main cause include Texas Childrens Womens Specialists ($2.1m), Brooklyn Independent ($2.1m) and David a Hindson MD Education Foundation Inc ($2.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $505k (22% of expenses). Other salaries and wages came to $190k. At year end it held assets of $5.3m against liabilities of $29k, net assets of $5.2m. It reported 13 employees.