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Employer Identification Number 20-1608155

PROMISE ACADEMY INC is a USA domiciled entity or foreign entity operating in the USA. The EIN ihas been issued by the IRS

Company Name:PROMISE ACADEMY INC
Employer identification number (EIN):20-1608155
EIN Issuing AuthorityInternet
Federal tax statusExempt from federal income tax. Registered as a non-profit under 501(c)(3) Title 26 of the United States Code

Organization Overview

Mission StatementOur central and only work is to teach and inspire the mind, body and spirit of our children so that they can succeed in any academic or cultural setting. Promise Academy is committed to preparing children to excel in the nation's most rigorous schools.
Number of Employees74
Number of Volunteers20
Year Formed2004

Organization Governance

Legal DomicileTN
Voting Members - Governing Body13
Voting Members - Independent13

Organization Financials

2022-06-30
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 3,013,515
Program Service Revenue from current yearUSD $ 2,697,922
Investment Income from prior yearUSD $ 9,596
Investment Income from current yearUSD $ -7,176
Other Revenue from prior yearUSD $ 322,598
Other Revenue from current yearUSD $ 564,807
Gross receipts from all sourcesUSD $ 6,432,081
Net assets / fund balances at end of fiscal yearUSD $ 3,740,151
Net assets / fund balances at beginning of fiscal yearUSD $ 3,003,884
Total liabilities at end of fiscal yearUSD $ 3,657,125
Total liabilities at beginning of fiscal yearUSD $ 479,116
Total assets at end of fiscal yearUSD $ 7,397,276
Total assets at beginning of fiscal yearUSD $ 3,483,000
Revenues less expenses for current yearUSD $ 736,267
Revenues less expenses for previous yearUSD $ 634,511
Total expenses for current yearUSD $ 5,692,124
Total expenses for previous yearUSD $ 4,485,883
Other expenses in current yearUSD $ 2,230,503
Other expenses in previous yearUSD $ 1,556,655
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 3,461,621
Employee salary and benefits paid in previous yearUSD $ 2,929,228
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Grants and similar amounts paid in previous yearUSD $ 0
Total revenue in current fiscal yearUSD $ 6,428,391
Total revenue in previous fiscal yearUSD $ 5,120,394
Contributions and grants from current yearUSD $ 3,172,838
Contributions and grants from previous yearUSD $ 1,774,685
Gross income from fundraising eventsUSD $ 1,069
Total of other revenueUSD $ 563,738
2021-06-30
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 3,112,313
Program Service Revenue from current yearUSD $ 3,013,515
Investment Income from prior yearUSD $ 904
Investment Income from current yearUSD $ 9,596
Other Revenue from prior yearUSD $ 358,047
Other Revenue from current yearUSD $ 322,598
Gross receipts from all sourcesUSD $ 5,120,394
Net assets / fund balances at end of fiscal yearUSD $ 3,003,884
Net assets / fund balances at beginning of fiscal yearUSD $ 1,716,306
Total liabilities at end of fiscal yearUSD $ 479,116
Total liabilities at beginning of fiscal yearUSD $ 1,357,432
Total assets at end of fiscal yearUSD $ 3,483,000
Total assets at beginning of fiscal yearUSD $ 3,073,738
Revenues less expenses for current yearUSD $ 634,511
Revenues less expenses for previous yearUSD $ 3,447
Total expenses for current yearUSD $ 4,485,883
Total expenses for previous yearUSD $ 4,879,997
Other expenses in current yearUSD $ 1,556,655
Other expenses in previous yearUSD $ 1,682,491
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 2,929,228
Employee salary and benefits paid in previous yearUSD $ 3,197,506
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Grants and similar amounts paid in previous yearUSD $ 0
Total revenue in current fiscal yearUSD $ 5,120,394
Total revenue in previous fiscal yearUSD $ 4,883,444
Contributions and grants from current yearUSD $ 1,774,685
Contributions and grants from previous yearUSD $ 1,412,180
Total of other revenueUSD $ 322,598
2020-06-30
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 3,366,262
Program Service Revenue from current yearUSD $ 3,112,313
Investment Income from prior yearUSD $ 0
Investment Income from current yearUSD $ 904
Other Revenue from prior yearUSD $ 410,949
Other Revenue from current yearUSD $ 358,047
Gross receipts from all sourcesUSD $ 4,884,089
Net assets / fund balances at end of fiscal yearUSD $ 1,716,306
Net assets / fund balances at beginning of fiscal yearUSD $ 1,712,859
Total liabilities at end of fiscal yearUSD $ 1,357,432
Total liabilities at beginning of fiscal yearUSD $ 605,044
Total assets at end of fiscal yearUSD $ 3,073,738
Total assets at beginning of fiscal yearUSD $ 2,317,903
Revenues less expenses for current yearUSD $ 3,447
Revenues less expenses for previous yearUSD $ 171,821
Total expenses for current yearUSD $ 4,879,997
Total expenses for previous yearUSD $ 4,905,525
Other expenses in current yearUSD $ 1,682,491
Other expenses in previous yearUSD $ 1,702,258
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 3,197,506
Employee salary and benefits paid in previous yearUSD $ 3,203,267
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Grants and similar amounts paid in previous yearUSD $ 0
Total revenue in current fiscal yearUSD $ 4,883,444
Total revenue in previous fiscal yearUSD $ 5,077,346
Contributions and grants from current yearUSD $ 1,412,180
Contributions and grants from previous yearUSD $ 1,300,135
Gross income from fundraising eventsUSD $ 1,522
Total of other revenueUSD $ 356,970
2019-06-30
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 3,326,054
Program Service Revenue from current yearUSD $ 3,366,262
Investment Income from prior yearUSD $ 0
Investment Income from current yearUSD $ 930
Other Revenue from prior yearUSD $ 336,678
Other Revenue from current yearUSD $ 410,019
Gross receipts from all sourcesUSD $ 5,186,441
Net assets / fund balances at end of fiscal yearUSD $ 1,712,859
Net assets / fund balances at beginning of fiscal yearUSD $ 1,425,943
Total liabilities at end of fiscal yearUSD $ 605,044
Total liabilities at beginning of fiscal yearUSD $ 598,947
Total assets at end of fiscal yearUSD $ 2,317,903
Total assets at beginning of fiscal yearUSD $ 2,024,890
Revenues less expenses for current yearUSD $ 286,916
Revenues less expenses for previous yearUSD $ 114,214
Total expenses for current yearUSD $ 4,890,430
Total expenses for previous yearUSD $ 4,534,681
Other expenses in current yearUSD $ 1,717,097
Other expenses in previous yearUSD $ 1,642,422
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 3,173,333
Employee salary and benefits paid in previous yearUSD $ 2,892,259
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Grants and similar amounts paid in previous yearUSD $ 0
Total revenue in current fiscal yearUSD $ 5,177,346
Total revenue in previous fiscal yearUSD $ 4,648,895
Contributions and grants from current yearUSD $ 1,400,135
Contributions and grants from previous yearUSD $ 986,163
Gross income from fundraising eventsUSD $ 10,994
Total of other revenueUSD $ 408,120
2018-06-30
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 3,486,314
Program Service Revenue from current yearUSD $ 3,326,054
Investment Income from prior yearUSD $ 0
Investment Income from current yearUSD $ 0
Other Revenue from prior yearUSD $ 269,096
Other Revenue from current yearUSD $ 336,678
Gross receipts from all sourcesUSD $ 4,655,009
Net assets / fund balances at end of fiscal yearUSD $ 1,425,943
Net assets / fund balances at beginning of fiscal yearUSD $ 783,598
Total liabilities at end of fiscal yearUSD $ 598,947
Total liabilities at beginning of fiscal yearUSD $ 731,109
Total assets at end of fiscal yearUSD $ 2,024,890
Total assets at beginning of fiscal yearUSD $ 1,514,707
Revenues less expenses for current yearUSD $ 114,214
Revenues less expenses for previous yearUSD $ 244,141
Total expenses for current yearUSD $ 4,534,681
Total expenses for previous yearUSD $ 4,426,456
Other expenses in current yearUSD $ 1,642,422
Other expenses in previous yearUSD $ 1,697,296
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 2,892,259
Employee salary and benefits paid in previous yearUSD $ 2,729,160
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Grants and similar amounts paid in previous yearUSD $ 0
Total revenue in current fiscal yearUSD $ 4,648,895
Total revenue in previous fiscal yearUSD $ 4,670,597
Contributions and grants from current yearUSD $ 986,163
Contributions and grants from previous yearUSD $ 915,187
Gross income from fundraising eventsUSD $ 9,377
Total of other revenueUSD $ 333,415
2017-06-30
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 0
Program Service Revenue from current yearUSD $ 3,486,314
Investment Income from prior yearUSD $ -2,512
Investment Income from current yearUSD $ 0
Other Revenue from prior yearUSD $ 189,114
Other Revenue from current yearUSD $ 269,096
Gross receipts from all sourcesUSD $ 4,681,606
Net assets / fund balances at end of fiscal yearUSD $ 783,598
Net assets / fund balances at beginning of fiscal yearUSD $ 539,457
Total liabilities at end of fiscal yearUSD $ 731,109
Total liabilities at beginning of fiscal yearUSD $ 1,762,789
Total assets at end of fiscal yearUSD $ 1,514,707
Total assets at beginning of fiscal yearUSD $ 2,302,246
Revenues less expenses for current yearUSD $ 244,141
Revenues less expenses for previous yearUSD $ 177,799
Total expenses for current yearUSD $ 4,426,456
Total expenses for previous yearUSD $ 4,412,410
Other expenses in current yearUSD $ 1,697,296
Other expenses in previous yearUSD $ 1,754,775
Total fundraising expenses in current yearUSD $ 0
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 2,729,160
Employee salary and benefits paid in previous yearUSD $ 2,657,635
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Grants and similar amounts paid in previous yearUSD $ 0
Total revenue in current fiscal yearUSD $ 4,670,597
Total revenue in previous fiscal yearUSD $ 4,590,209
Contributions and grants from current yearUSD $ 915,187
Contributions and grants from previous yearUSD $ 4,403,607
Gross income from fundraising eventsUSD $ 12,095
Total of other revenueUSD $ 268,010
2016-06-30
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 0
Program Service Revenue from current yearUSD $ 0
Investment Income from prior yearUSD $ 0
Investment Income from current yearUSD $ -2,512
Other Revenue from prior yearUSD $ 185,759
Other Revenue from current yearUSD $ 189,114
Gross receipts from all sourcesUSD $ 4,599,949
Net assets / fund balances at end of fiscal yearUSD $ 539,457
Net assets / fund balances at beginning of fiscal yearUSD $ 361,658
Total liabilities at end of fiscal yearUSD $ 1,762,789
Total liabilities at beginning of fiscal yearUSD $ 1,106,437
Total assets at end of fiscal yearUSD $ 2,302,246
Total assets at beginning of fiscal yearUSD $ 1,468,095
Revenues less expenses for current yearUSD $ 177,799
Revenues less expenses for previous yearUSD $ 328,925
Total expenses for current yearUSD $ 4,412,410
Total expenses for previous yearUSD $ 4,473,490
Other expenses in current yearUSD $ 1,754,775
Other expenses in previous yearUSD $ 1,778,083
Total fundraising expenses in current yearUSD $ 29,265
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 2,657,635
Employee salary and benefits paid in previous yearUSD $ 2,695,407
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Grants and similar amounts paid in previous yearUSD $ 0
Total revenue in current fiscal yearUSD $ 4,590,209
Total revenue in previous fiscal yearUSD $ 4,802,415
Contributions and grants from current yearUSD $ 4,403,607
Contributions and grants from previous yearUSD $ 4,616,656
Gross income from fundraising eventsUSD $ 36,833
Total of other revenueUSD $ 158,759
2015-06-30
Total unrelated business incomeUSD $ 0
Net unrelated business incomeUSD $ 0
Program Service Revenue from prior yearUSD $ 0
Program Service Revenue from current yearUSD $ 0
Investment Income from prior yearUSD $ 1,227
Investment Income from current yearUSD $ 0
Other Revenue from prior yearUSD $ 33,095
Other Revenue from current yearUSD $ 185,759
Gross receipts from all sourcesUSD $ 4,814,772
Net assets / fund balances at end of fiscal yearUSD $ 361,658
Net assets / fund balances at beginning of fiscal yearUSD $ 716,412
Total liabilities at end of fiscal yearUSD $ 1,106,437
Total liabilities at beginning of fiscal yearUSD $ 326,344
Total assets at end of fiscal yearUSD $ 1,468,095
Total assets at beginning of fiscal yearUSD $ 1,042,756
Revenues less expenses for current yearUSD $ 328,925
Revenues less expenses for previous yearUSD $ -40,396
Total expenses for current yearUSD $ 4,473,490
Total expenses for previous yearUSD $ 4,608,173
Other expenses in current yearUSD $ 1,778,083
Other expenses in previous yearUSD $ 1,692,392
Total fundraising expenses in current yearUSD $ 4,533
Professional fundraising fees from current yearUSD $ 0
Professional fundraising fees from previous yearUSD $ 0
Employee salary and benefits paid in current yearUSD $ 2,695,407
Employee salary and benefits paid in previous yearUSD $ 2,915,781
Benefits paid to or for members in current yearUSD $ 0
Benefits paid to or for members in previous yearUSD $ 0
Grants and similar amounts paid in current yearUSD $ 0
Grants and similar amounts paid in previous yearUSD $ 0
Total revenue in current fiscal yearUSD $ 4,802,415
Total revenue in previous fiscal yearUSD $ 4,567,777
Contributions and grants from current yearUSD $ 4,616,656
Contributions and grants from previous yearUSD $ 4,533,455
Gross income from fundraising eventsUSD $ 40,020
Total of other revenueUSD $ 158,096

Organization Addresses

The following addresses have been detected as associated with Tax Indentification Number 201608155

USA Mailing Address
1346 BRYAN ST
MEMPHIS
TN
38108
Date first seen: 2009-01-01
Date last seen: 2023-12-31

Nearby companies/organizations

The following companies are located in the same ZIP code areas:

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