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Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1921.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
68 cents of each dollar spent went to programs.
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
14 people listed on the 990.
Katherine Korey’s $105K as Executive Director is at the 95th percentile of top reported officer pay among 1220 $100K–1M animals nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 2 named individuals · Part VII
| Name | FY2024 | FY2023 |
|---|---|---|
| Katherine Korey | $105,040 | — |
| James Hirsch | — | $84,125 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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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
Funds and monitors other groups helping Illinois children reach their full potential.
Questions for Bright Promises Foundation
Your first name shows with your question. Bright Promises Foundation answers here, for everyone.
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Reviewed proposals and awarded grants to agencies to improve early childhood centers, build PARENT/CAREGIVER capacity to support children's SOCIAL/EMOTIONAL learning, and respond to childhood TRAUMA.MONITORED implementation of grantees and gathered knowledge to share with OTHERS.ENCOURAGED young people to work in the non-profit arena for…
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2020 990, line by line.
Download 990
| Line | Start FY20 | End FY20 |
|---|---|---|
| Cash and savingsLn 1–2 | $275K | $381K |
| InvestmentsLn 11–13 | $4.3M | $5.0M |
| Land, buildings, equipmentLn 10c | $0 | $0 |
| Total assetsLn 16 | $4.7M | $5.3M |
| LiabilitiesLn 26 | $112K | $20K |
| Net assetsLn 32 | $4.5M | $5.3M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $316K | $316K | ||
| Other salaries and wagesLn 7 | $78K | $39K | $39K | |
| Management feesLn 11a | $84K | $33K | $33K | $17K |
| Accounting feesLn 11c | $10K | $10K | ||
| Investment management feesLn 11f | $32K | $32K | ||
| Other fees for servicesLn 11g | $30K | $30K | ||
| Office expensesLn 13 | $3K | $1K | $2K | |
| Conferences, conventions and meetingsLn 19 | $77 | $77 | ||
| InsuranceLn 23 | $1K | $1K | ||
| Other expenses (24a–d)Ln 24 | $3K | $1K | $1K | $692 |
| Total functional expensesLn 25 | $558K | $382K | $120K | $57K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $461K | $896K | −$434K | $5.8M | 990 PDF |
| FY2023 | $1.5M | $981K | $485K | $6.1M | 990 PDF |
| FY2022 | $1.1M | $768K | $369K | $4.6M | 990 PDF |
| FY2021 | $676K | $767K | −$91K | $5.6M | 990 PDF |
| FY2020 Viewing | $576K | $558K | $18K | $5.3M | 990 PDF |
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Schedules filed Part IV
See the full FY2020 990 (6 parts)
Part I · Summary $576,330 revenue, 12 lines filed
Part VI · Governance 14 of 14 board members independent, 2 to look at
Part VIII · Statement of revenue $576,330 across 8 lines filed
Part IX · Statement of functional expenses $558,095 across 10 lines filed
Part X · Balance sheet $5,349,577 assets, 12 lines filed
Part XI · Reconciliation of net assets $5,329,370 net assets at year end
Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File
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