Peoria Promise Foundation: Nonprofit Profile, Financials & Form 990 (EIN 13-4353454)

Revenue by fiscal year
FY2020	$427K
FY2021	$371K
FY2022	$344K
FY2023	$377K
FY2024	$361K

Expenses by fiscal year
FY2020	$378K
FY2021	$309K
FY2022	$302K
FY2023	$377K
FY2024	$428K

Net assets by fiscal year
FY2020	$309K
FY2021	$401K
FY2022	$397K
FY2023	$428K
FY2024	$389K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2007.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

52 cents of each dollar spent went to programs.

52%

48%

Program services 52% · $223K Management & general 48% · $205K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

18 people listed on the 990.

Part VII, Section A · reportable compensation

James Ardis

Chairman of the Board

$0Pt VII · Sec A

Lane Alster

Board Secretary

$0Pt VII · Sec A

Paul a Beiersdorf

Board Member

$0Pt VII · Sec A

Nicholas Baker

Board Member

$0Pt VII · Sec A

Tara Gerstner

Board Member

$0Pt VII · Sec A

Mike Gudat

Board Member

$0Pt VII · Sec A

Evan Thomas

Board Member

$0Pt VII · Sec A

Rob Bell

Board Member

$0Pt VII · Sec A

See Peoria Promise Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides tuition assistance for qualified students attending Illinois Central College.

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Provided by the organization

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1 program · $223K · in their own filed words · FY2024

01

The organization offers tuition assistance to qualified peoria area students.

$223Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid

Grants received · FY2025

Coulter Family FoundationFY2025$5K

Total grants receivedfrom 1 funder$5K

Grants paid · 4 grants · $876K · 2021–2024

Unitemized GrantFY2024$223,353

Unitemized GrantFY2023$242,283

Unitemized GrantFY2022$200,058

Unitemized GrantFY2021$210,555

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$361K

Ln 12

Gifts and grantsLn 1h$321K

Other incomeLn 4–11$30K

Investment incomeLn 3$10K

Money outPt IX

$428K

Ln 25

Programscol B$223K

Managementcol C$205K

Owns and owesPt X

$389K

net assets · Ln 32

Cash and savingsLn 1–2$260K

Total assetsLn 16$567K

LiabilitiesLn 26$178K

PeoplePt VI, VII

18

listed · VII A

PaidVII A0

Voting boardVI 1a18

IndependentVI 1b18

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$321K

Government grantsLn 1e$98K

Investment incomeLn 3$10K

Other incomeLn 4–11$30K

Total revenueLn 12$361K

Assets in detailPt X, end of year

CashLn 1$254K

SavingsLn 2$6K

Cash and savings togetherLn 1–2$260K

InvestmentsLn 11–13$301K

Land, buildings, equipmentLn 10c$7K

Total assetsLn 16$567K

LiabilitiesLn 26$178K

Net assetsLn 32$389K

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$296K	$260K
InvestmentsLn 11–13	$280K	$301K
Land, buildings, equipmentLn 10c	$11K	$7K
Total assetsLn 16	$639K	$567K
LiabilitiesLn 26	$211K	$178K
Net assetsLn 32	$428K	$389K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$223K	$223K
Accounting feesLn 11c	$6K		$6K
Advertising and promotionLn 12	$81K		$81K
Office expensesLn 13	$11K		$11K
InterestLn 20	$2K		$2K
Depreciation, depletion and amortizationLn 22	$5K		$5K
InsuranceLn 23	$3K		$3K
Other expenses (24a–d)Ln 24	$96K		$96K
All other expensesLn 24e	$203		$203
Total functional expensesLn 25	$428K	$223K	$205K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest Viewing	$361K	$428K	−$68K	$389K	990 PDF
FY2023	$377K	$377K	−$145	$428K	990 PDF
FY2022	$344K	$302K	$42K	$397K	990 PDF
FY2021	$371K	$309K	$62K	$401K	990 PDF
FY2020	$427K	$378K	$48K	$309K	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations

See the full FY2024 990 (6 parts)

Part I · Summary $360,694 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $288,411$321,172

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $9,500$9,817

I-11 Other revenuePrior year $79,324$29,705

I-12 Total revenuePrior year $377,235$360,694

I-13 Grants and similar amounts paidPrior year $242,283$223,353

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $135,097$205,001

I-18 Total expensesPrior year $377,380$428,354

I-19 Revenue less expensesPrior year −$145−$67,660

Part VI · Governance 18 of 18 board members independent, 3 to look at

VI-1a Voting members of the governing body18

VI-1b Independent voting members18

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

Part VIII · Statement of revenue $360,694 across 6 lines filed

VIII-1e Government grants$98,026

VIII-1f All other contributions, gifts and grants$223,146

VIII-1h Total contributions, gifts and grants$321,172

VIII-3 Investment incomeExcluded from tax $9,817$9,817

VIII-8 Net income from fundraising eventsExcluded from tax $29,705$29,705

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $39,522$360,694

Part IX · Statement of functional expenses $428,354 across 9 lines filed

IX-2 Grants to domestic individualsPrograms $223,353$223,353

IX-11c Accounting feesManagement $6,030$6,030

IX-12 Advertising and promotionManagement $81,289$81,289

IX-13 Office expensesManagement $10,782$10,782

IX-20 InterestManagement $1,998$1,998

IX-22 Depreciation, depletion and amortizationManagement $5,394$5,394

IX-23 InsuranceManagement $2,935$2,935

IX-24 Other expenses (24a–d)Management $96,370$96,370

IX-24e All other expensesManagement $203$203

IX-25 Total functional expensesPrograms $223,353 · Management $205,001 · Fundraising $0$428,354

Part X · Balance sheet $566,999 assets, 12 lines filed

X-1 Cash, non-interest-bearingStart of year $290,995$253,827

X-2 Savings and temporary cash investmentsStart of year $5,341$5,748

X-4 Accounts receivableStart of year $51,927$0

X-10c Land, buildings and equipment, netStart of year $10,509$6,761

X-11 Publicly traded securitiesStart of year $280,120$300,663

X-16 Total assetsStart of year $638,892$566,999

X-17 Accounts payable and accrued expensesStart of year $142,182$115,019

X-25 Other liabilitiesStart of year $68,492$62,593

X-26 Total liabilitiesStart of year $210,674$177,612

X-27 Net assets without donor restrictionsStart of year $428,218$389,387

X-32 Total net assets or fund balancesStart of year $428,218$389,387

X-33 Total liabilities and net assetsStart of year $638,892$566,999

Part XI · Reconciliation of net assets $389,387 net assets at year end

XI-1 Total revenue$360,694

XI-2 Total expenses$428,354

XI-3 Revenue less expenses−$67,660

XI-4 Net assets at start of year$428,218

XI-5 Net unrealized gains (losses) on investments$28,829

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$389,387

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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Peoria Promise Foundation

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Peoria Promise Foundation

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV