Bright Promise FY2020 filing

Tax-deductible

Chicago, IL501(c)(3)EIN 36-3634360Revenue $282K in FY2020

On file with the IRSbrightpromisefund.org1550 S State St Ste 107, 60605-7804 · Chicago, ILTax-exempt since Apr 1989Publicly supported charity — 170(b)(1)(A)(vi)

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To strengthen and sustain partner christian schools by generating new sources of revenue so that more families may experience the benefit from urban christian education.

501(c)(3) charity; gifts are tax-deductible.
74¢ of each $1 spent went to programs.
$74K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · 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
4 of 6
filings with a surplus
Average surplus $603K a year · 51% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
74%
of spending
Fine: 74% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$74K
to officers and key staff · 19% of spending
Fine: pay to officers and key staff is 19% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
11 mo
of spending, in cash
Looks good: 10.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $18K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$361K
20% of total assets
Looks good: liabilities are 20% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$282K
Spent
$394K
To programs
74%
Net assets
$1.4M
By yearFY2020–FY2025
Revenue
$282K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$282K
FY2021$365K
FY2022$649K
FY2023$1.4M
FY2024$1.0M
FY2025$3.4M
Expenses
$394K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$394K
FY2021$419K
FY2022$515K
FY2023$689K
FY2024$713K
FY2025$722K
Net assets
$1.4M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$1.4M
FY2021$1.7M
FY2022$1.5M
FY2023$2.2M
FY2024$2.6M
FY2025$5.5M

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 1989.

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

Where the money goes

74 cents of each dollar spent went to programs.

Program services 74% · $293K Management & general 10% · $39K Fundraising 16% · $62K

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

9 people listed on the 990; $74K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Executive Di
$73,541Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Steve Blom$90,450$86,911$82,703$79,078$76,002$73,541

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

Helps Christian schools find new funding to offer education to more families.

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Provided by the organization

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3 programs · $293K · in their own filed words · FY2019
01

The funds raised will be divided among the fifteen affiliated christian schools it serves, in the confidence that each local school board knows best as to which priorities to address. Most often, the highest priority is providing tuition assistance to families in need.

$278Kprogram expense
02

The organization is a scholarship granting organization under the illinois invest in kids scholarship tax credit program. The organization receives contributions and issues scholarships to member schools on behalf of eligible students.

$12Kprogram expense
03

The organization seeks to provide a professional network for christians involved in private, public, and christian education in urban north america by providing support for the center for christian urban educators.

$3Kprogram 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 · FY2024
Total grants receivedfrom 2 funders$18K
Grants paid · 75 grants · $1.5M · 2019–2024
Pui-Tak Christian SchoolFY2024$42,505
The Field SchoolIL · FY2024$28,000
Unity Christian AcademyIL · FY2024$20,500
Cambridge Classical AcademyIL · FY2024$15,930
Calvary Academy INCIL · FY2024$15,000
Midwestern Christian AcademyIL · FY2024$15,000
Cornerstone AcademyIL · FY2024$15,000
Pui-Tak Christian SchoolFY2023$42,000
The Field SchoolIL · FY2023$21,500
Unity Christian AcademyIL · FY2023$16,500
See all 75 grants →

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$282K
Ln 12
Gifts and grantsLn 1h$175K
Investment incomeLn 3$94K
Fees for servicesLn 2g$13K
Money outPt IX
$394K
Ln 25
Programscol B$293K
Managementcol C$39K
Fundraisingcol D$62K
Owns and owesPt X
$1.4M
net assets · Ln 32
Cash and savingsLn 1–2$354K
Total assetsLn 16$1.8M
LiabilitiesLn 26$361K
PeoplePt VI, VII
9
listed · VII A
PaidVII A1
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$175K
Fees for servicesLn 2g$13K
Investment incomeLn 3$94K
Other incomeLn 4–11$525
Gains on assetsLn 7$64K
Total revenueLn 12$282K
Assets in detailPt X, end of year
CashLn 1$100K
SavingsLn 2$255K
Cash and savings togetherLn 1–2$354K
InvestmentsLn 11–13$1.4M
Land, buildings, equipmentLn 10c$593
Total assetsLn 16$1.8M
LiabilitiesLn 26$361K
Net assetsLn 32$1.4M
OperationsPt I, VI
EmployeesI 56
VolunteersI 670
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$143K$354K
InvestmentsLn 11–13$1.8M$1.4M
Land, buildings, equipmentLn 10c$1K$593
Total assetsLn 16$2.0M$1.8M
LiabilitiesLn 26$307K$361K
Net assetsLn 32$1.6M$1.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$260K$260K
Pay of current officers, directors and key staffLn 5$74K$22K$7K$44K
Other salaries and wagesLn 7$18K$3K$13K$1K
Payroll taxesLn 10$7K$2K$2K$3K
Legal feesLn 11b$17$17
Accounting feesLn 11c$9K$9K
Other fees for servicesLn 11g$3K$3K
Office expensesLn 13$7K$2K$405$5K
OccupancyLn 16$9K$2K$1K$5K
TravelLn 17$491$123$368
InterestLn 20$49$49
Depreciation, depletion and amortizationLn 22$448$112$67$269
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$5K$837$2K$2K
Total functional expensesLn 25$394K$293K$39K$62K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $3.4M$722K$2.7M$5.5M 990 PDF
FY2024 $1.0M$713K$322K$2.6M 990 PDF
FY2023 $1.4M$689K$674K$2.2M 990 PDF
FY2022 $649K$515K$134K$1.5M 990 PDF
FY2021 $365K$419K−$54K$1.7M 990 PDF
FY2020 Viewing $282K$394K−$112K$1.4M 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 FY2020 990 (6 parts)
Part I · Summary $282,099 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $174,128$174,963
I-9 Program service revenuePrior year $1,625$12,674
I-10 Investment incomePrior year $58,716$93,937
I-11 Other revenue$525
I-12 Total revenuePrior year $234,469$282,099
I-13 Grants and similar amounts paidPrior year $277,737$260,274
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $48,348$98,404
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $33,652$35,183
I-18 Total expensesPrior year $359,737$393,861
I-19 Revenue less expensesPrior year −$125,268−$111,762
Part VI · Governance 8 of 8 board members independent, 4 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-12a Written conflict of interest policyNo
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
Part VIII · Statement of revenue $282,099 across 7 lines filed
VIII-1f All other contributions, gifts and grants$174,963
VIII-1h Total contributions, gifts and grants$174,963
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $12,674$12,674
VIII-3 Investment incomeExcluded from tax $29,692$29,692
VIII-7 Net gain or loss on sales of assetsExcluded from tax $64,245$64,245
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $525$525
VIII-12 Total revenueRelated to mission $12,674 · Excluded from tax $94,462$282,099
Part IX · Statement of functional expenses $393,861 across 14 lines filed
IX-1 Grants to domestic organizationsPrograms $260,274$260,274
IX-5 Pay of current officers, directors and key staffPrograms $22,062 · Management $7,354 · Fundraising $44,125$73,541
IX-7 Other salaries and wagesPrograms $3,361 · Management $13,161 · Fundraising $1,348$17,870
IX-10 Payroll taxesPrograms $1,945 · Management $1,569 · Fundraising $3,479$6,993
IX-11b Legal feesManagement $17$17
IX-11c Accounting feesManagement $9,280$9,280
IX-11g Other fees for servicesManagement $2,540$2,540
IX-13 Office expensesPrograms $1,567 · Management $405 · Fundraising $5,239$7,211
IX-16 OccupancyPrograms $2,281 · Management $1,369 · Fundraising $5,475$9,125
IX-17 TravelPrograms $123 · Fundraising $368$491
IX-20 InterestManagement $49$49
IX-22 Depreciation, depletion and amortizationPrograms $112 · Management $67 · Fundraising $269$448
IX-23 InsuranceManagement $1,291$1,291
IX-24 Other expenses (24a–d)Programs $837 · Management $1,765 · Fundraising $2,129$4,731
IX-25 Total functional expensesPrograms $292,562 · Management $38,867 · Fundraising $62,432$393,861
Part X · Balance sheet $1,799,048 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $42,696$99,563
X-2 Savings and temporary cash investmentsStart of year $100,564$254,833
X-3 Pledges and grants receivableStart of year $9,786$4,000
X-9 Prepaid expenses and deferred chargesStart of year $1,172$1,430
X-10c Land, buildings and equipment, netStart of year $1,041$593
X-11 Publicly traded securitiesStart of year $1,798,813$1,438,629
X-16 Total assetsStart of year $1,954,072$1,799,048
X-17 Accounts payable and accrued expensesStart of year $307,264$345,913
X-25 Other liabilities$14,717
X-26 Total liabilitiesStart of year $307,264$360,630
X-27 Net assets without donor restrictionsStart of year $1,646,333$1,437,943
X-28 Net assets with donor restrictionsStart of year $475$475
X-32 Total net assets or fund balancesStart of year $1,646,808$1,438,418
X-33 Total liabilities and net assetsStart of year $1,954,072$1,799,048
Part XI · Reconciliation of net assets $1,438,418 net assets at year end
XI-1 Total revenue$282,099
XI-2 Total expenses$393,861
XI-3 Revenue less expenses−$111,762
XI-4 Net assets at start of year$1,646,808
XI-5 Net unrealized gains (losses) on investments−$90,390
XI-7 Investment expenses−$6,238
XI-10 Net assets at end of year$1,438,418

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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