The Promises Foundation

Analysis

The Promises Foundation is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in November 1999, 27 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a private non-operating foundation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending January 2023, The Promises Foundation reported income of $1.1m and spending of $863k, leaving 21% of income unspent that year. Across the 3 years on record, from January 2020 to January 2023, income grew from $601k to $1.1m (+82%), an average of +35% a year. The sharpest change came in the year to January 2022, when income rose by 161%. Over the whole period it spent 59% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, The Promises Foundation sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 81st percentile within CA. Charities of a similar size with the same main cause include Arabian World Partnership ($1.1m), Mecked ($1.1m) and Charlotte Wine & Food Weekend Inc ($1.1m).

On its Form 990 for the period ending January 2023, revenue came from contributions and grants 95% and program service revenue 1.3% of the total. Other salaries and wages came to $329k. At year end it held assets of $2.9m against liabilities of $1.5m, net assets of $1.4m. It reported 9 employees.