Promising Futures Inc

Analysis

Promising Futures Inc is a registered charity in United States, based in El Cajon, CA. It received its IRS tax-exemption ruling in April 1986, 40 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Promising Futures Inc reported income of $4.0m and spending of $3.2m, spending 80% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.7m to $4.0m (+49%), an average of +10% a year. The sharpest change came in the year to December 2023, when income rose by 36%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Promising Futures Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within CA. Charities of a similar size with the same main cause include Home Integration Inc ($4.0m), Sojourners Care Network ($4.0m) and Wuqu Kawoq Sa ($4.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.6% and program service revenue 81% of the total. Compensation of current officers, directors and key employees was $137k (4.3% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $3.6m against liabilities of $1.7m, net assets of $1.8m. It reported 54 employees.