Promise Foundation FY2022 filing

Tax-deductible

New York, NY501(c)(3)Foundations & GrantmakersEIN 20-1618720

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Help young people affected terminal illnesses, funding treatment, research & support programs.

501(c)(3) charity; gifts are tax-deductible.
20¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 2
filings with a surplus
Average surplus $289K a year · 74% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
20%
of spending
Concern: 20% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.2 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $42K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$259K
×42 of total assets
Concern: liabilities are 4200% of assets; over 80%.
Pt X · Ln 26
Independent board members
1
of 1 voting members
Looks good: 1 of 1 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$645K
+379% vs prior year
Spent
$63K
To programs
20%
Net assets
−$252K
By yearFY2021–FY2025
Revenue
$645K
FY2022▲ +379%
Revenue by fiscal year
FY2021$135K
FY2022$645K
FY2023$111K
FY2024$171
FY2025$165K
Expenses
$63K
FY2022▼ -54%
Expenses by fiscal year
FY2021$138K
FY2022$63K
FY2023Not on file
FY2024Not on file
FY2025Not on file
Net assets
−$252K
FY2022▲ +70%
Net assets by fiscal year
FY2021−$833K
FY2022−$252K
FY2023−$176K
FY2024−$186K
FY2025−$56K

From the FY2022 Form 990 (year ending January 2022) · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 2004.

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

Where the money goes

20 cents of each dollar spent went to programs.

Program services 20% · $13K Management & general 63% · $40K Fundraising 16% · $10K

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

2 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
President & Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
See 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
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Funds treatment, research, and support for young people facing terminal illness.

Provided by the organization

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1 program service account for $13K of program spending, described in the organization's own filed words · FY2021.
01

Grant Making

The organization provides grants to fund research of terminal illnesses affecting young people.

$13Kprogram expense

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Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2020
Total grants receivedfrom 2 funders$42K

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$645K
Ln 12
Gifts and grantsLn 1h$645K
Investment incomeLn 3$1
Money outPt IX
$63K
Ln 25
Programscol B$13K
Managementcol C$40K
Fundraisingcol D$10K
Owns and owesPt X
−$252K
net assets · Ln 32
Cash and savingsLn 1–2$6K
Total assetsLn 16$6K
LiabilitiesLn 26$259K
PeoplePt VI, VII
2
listed · VII A
PaidVII A0
Voting boardVI 1a1
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$645K
Investment incomeLn 3$1
Total revenueLn 12$645K
Assets in detailPt X, end of year
CashLn 1$6K
Cash and savings togetherLn 1–2$6K
Total assetsLn 16$6K
LiabilitiesLn 26$259K
Net assetsLn 32−$252K
OperationsPt I, VI
EmployeesI 50
VolunteersI 61
Fiscal year endsHeaderJanuary
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$8K$6K
Total assetsLn 16$8K$6K
LiabilitiesLn 26$842K$259K
Net assetsLn 32−$833K−$252K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$21K$21K
Accounting feesLn 11c$15K$15K
Professional fundraising feesLn 11e$8K$8K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$2K$2K
Information technologyLn 14$5K$5K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$8K$8K$651
Total functional expensesLn 25$63K$13K$40K$10K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $165K−$56K 990 PDF
FY2024 $171−$186K 990 PDF
FY2023 $111K−$176K 990 PDF
FY2022 Viewing $645K$63K$581K−$252K 990 PDF
FY2021 $135K$138K−$3K−$833K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (4 parts)
Part VIII · Statement of revenue $644,594 across 4 lines filed
VIII-1f All other contributions, gifts and grants$644,593
VIII-1h Total contributions, gifts and grants$644,593
VIII-3 Investment incomeExcluded from tax $1$1
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $1$644,594
Part IX · Statement of functional expenses $63,485 across 8 lines filed
IX-11b Legal feesManagement $21,050$21,050
IX-11c Accounting feesManagement $14,936$14,936
IX-11e Professional fundraising feesFundraising $8,306$8,306
IX-12 Advertising and promotionFundraising $2,152$2,152
IX-13 Office expensesManagement $2,300$2,300
IX-14 Information technologyPrograms $5,107$5,107
IX-23 InsuranceManagement $1,207$1,207
IX-24 Other expenses (24a–d)Programs $7,776 · Management $651$8,427
IX-25 Total functional expensesPrograms $12,883 · Management $40,144 · Fundraising $10,458$63,485
Part X · Balance sheet $6,383 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $8,414$6,383
X-16 Total assetsStart of year $8,414$6,383
X-17 Accounts payable and accrued expensesStart of year $61,403$69,454
X-26 Total liabilitiesStart of year $841,817$258,677
X-27 Net assets without donor restrictionsStart of year −$833,403−$252,294
X-32 Total net assets or fund balancesStart of year −$833,403−$252,294
X-33 Total liabilities and net assetsStart of year $8,414$6,383
Part XI · Reconciliation of net assets −$252,294 net assets at year end
XI-1 Total revenue$644,594
XI-2 Total expenses$63,485
XI-3 Revenue less expenses$581,109
XI-4 Net assets at start of year−$833,403
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$252,294

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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