The American Promise INC: FY2023 Nonprofit Profile & Form 990 (EIN 46-3098708)

Revenue by fiscal year
FY2020	$8.6M
FY2021	$9.0M
FY2022	$1.2M
FY2023	$2.4M
FY2024	$4.1M

Expenses by fiscal year
FY2020	$4.3M
FY2021	$12.4M
FY2022	$2.7M
FY2023	$2.3M
FY2024	$3.5M

Net assets by fiscal year
FY2020	$5.9M
FY2021	$2.5M
FY2022	$983K
FY2023	$1.1M
FY2024	$1.6M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2014.

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

Where the money goes

91 cents of each dollar spent went to programs.

91%

Program services 91% · $2.1M Management & general 7% · $159K Fundraising 2% · $48K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation

Nic Fugate

President

$0Pt VII · Sec A

Tyler Riddle

Director

$0Pt VII · Sec A

Trey Gardner

Treasurer

$0Pt VII · Sec A

Ryan Tyson

Executive Director

$0Pt VII · Sec A

Alex Alvarado

Interim Ex Director

$0Pt VII · Sec A

See The American Promise INC 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

Educates citizens on economic, regulatory, and legal policies through public programs and media.

Provided by the organization

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2 programs · $2.1M · in their own filed words · FY2023

01

Research, collecting & assembling information for compiling data information reports in order to properly brief members of the press and general public in a non-partisan, unbiased manner.

$1.3Mprogram expense

02

Let's perserve the american dream inc. Conducts various programs to educate citizens on the societal benefits of sound economic, regulatory, and legal policies. Such programs and activities include, but are not limited to, public education through speeches, seminars, research, media distribution, interviews, website, articles…

$779Kprogram 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

Building America's Future INCFY2024$1.6M

Total grants receivedfrom 1 funder$1.6M

Grants paid · 36 grants · $14.3M · 2020–2024

Republican Party of FloridaFY2024$540,000

Florida PCFY2024$525,000

Latino AllianceFY2024$195,000

Citizens for Common Sense SolutionsFY2024$50,000

Common Sense America INCVA · FY2023$505,000

Latino AllianceFY2023$80,000

Florida Accountability ProjectFY2023$50,000

Civic Voter EngagementVA · FY2022$385,000

Floridas Future First INCFL · FY2022$100,000

Latino AllianceFY2022$30,000

State Government Leadership FoundationDC · FY2021$2,000,000

State Solutions INCDC · FY2021$1,000,000

Foundation for America's FamiliesFY2021$1,000,000

Consumer Action for a Strong Economy INCVA · FY2021$750,000

Sunshine State Future INCFY2021$600,000

Florida Consumer Alliance INCFL · FY2021$150,000

Pass the Balanced Budget Amendment INCFY2021$150,000

Tampa Metropolitan Area Young Mens Christian Association INCFL · FY2021$100,000

See all 36 grants →

By the numbers

The FY2023 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$2.4M

Ln 12

Gifts and grantsLn 1h$2.4M

Money outPt IX

$2.3M

Ln 25

Programscol B$2.1M

Managementcol C$159K

Fundraisingcol D$48K

Owns and owesPt X

$1.1M

net assets · Ln 32

Cash and savingsLn 1–2$1.1M

Total assetsLn 16$1.1M

LiabilitiesLn 26$45K

PeoplePt VI, VII

5

listed · VII A

PaidVII A0

Voting boardVI 1a3

IndependentVI 1b3

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$2.4M

Gains on assetsLn 7−$11K

Total revenueLn 12$2.4M

Assets in detailPt X, end of year

CashLn 1$1.1M

Cash and savings togetherLn 1–2$1.1M

Land, buildings, equipmentLn 10c$2K

Other assetsLn 15$39K

Total assetsLn 16$1.1M

LiabilitiesLn 26$45K

Net assetsLn 32$1.1M

OperationsPt I, VI

EmployeesI 50

VolunteersI 63

Fiscal year endsHeaderDecember

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

Line	Start FY23	End FY23
Cash and savingsLn 1–2	$1.2M	$1.1M
Land, buildings, equipmentLn 10c	$17K	$2K
Total assetsLn 16	$1.2M	$1.1M
LiabilitiesLn 26	$223K	$45K
Net assetsLn 32	$983K	$1.1M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$635K	$635K
Management feesLn 11a	$198K	$118K	$40K	$40K
Legal feesLn 11b	$11K		$11K
Accounting feesLn 11c	$34K		$34K
Other fees for servicesLn 11g	$1.3M	$1.3M
Office expensesLn 13	$4K	$2K	$928	$527
OccupancyLn 16	$39K		$39K
TravelLn 17	$25K	$15K	$5K	$5K
Depreciation, depletion and amortizationLn 22	$4K		$4K
InsuranceLn 23	$19K		$19K
Other expenses (24a–d)Ln 24	$18K	$9K	$6K	$3K
All other expensesLn 24e	$105		$105
Total functional expensesLn 25	$2.3M	$2.1M	$159K	$48K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest	$4.1M	$3.5M	$544K	$1.6M	990 PDF
FY2023 Viewing	$2.4M	$2.3M	$94K	$1.1M	990 PDF
FY2022	$1.2M	$2.7M	−$1.5M	$983K	990 PDF
FY2021	$9.0M	$12.4M	−$3.4M	$2.5M	990 PDF
FY2020	$8.6M	$4.3M	$4.3M	$5.9M	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 FY2023 990 (6 parts)

Part I · Summary $2,389,732 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $1,183,000$2,400,500

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $0−$10,768

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $1,183,000$2,389,732

I-13 Grants and similar amounts paidPrior year $517,500$635,000

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 $2,184,358$1,660,345

I-18 Total expensesPrior year $2,701,858$2,295,345

I-19 Revenue less expensesPrior year −$1,518,858$94,387

Part VI · Governance 3 of 3 board members independent, 1 to look at

VI-1a Voting members of the governing body3

VI-1b Independent voting members3

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

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $2,389,732 across 4 lines filed

VIII-1f All other contributions, gifts and grants$2,400,500

VIII-1h Total contributions, gifts and grants$2,400,500

VIII-7 Net gain or loss on sales of assetsExcluded from tax −$10,768−$10,768

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax −$10,768$2,389,732

Part IX · Statement of functional expenses $2,295,345 across 12 lines filed

IX-1 Grants to domestic organizationsPrograms $635,000$635,000

IX-11a Management feesPrograms $118,500 · Management $39,500 · Fundraising $39,500$197,500

IX-11b Legal feesManagement $11,044$11,044

IX-11c Accounting feesManagement $33,678$33,678

IX-11g Other fees for servicesPrograms $1,309,310$1,309,310

IX-13 Office expensesPrograms $2,182 · Management $928 · Fundraising $527$3,637

IX-16 OccupancyManagement $39,079$39,079

IX-17 TravelPrograms $14,972 · Management $4,990 · Fundraising $4,990$24,952

IX-22 Depreciation, depletion and amortizationManagement $4,211$4,211

IX-23 InsuranceManagement $18,821$18,821

IX-24 Other expenses (24a–d)Programs $8,677 · Management $6,240 · Fundraising $3,091$18,008

IX-24e All other expensesManagement $105$105

IX-25 Total functional expensesPrograms $2,088,641 · Management $158,596 · Fundraising $48,108$2,295,345

Part X · Balance sheet $1,122,499 assets, 11 lines filed

X-1 Cash, non-interest-bearingStart of year $1,175,425$1,067,536

X-9 Prepaid expenses and deferred chargesStart of year $14,140$14,044

X-10c Land, buildings and equipment, netStart of year $17,100$2,121

X-15 Other assetsStart of year $0$38,798

X-16 Total assetsStart of year $1,206,665$1,122,499

X-17 Accounts payable and accrued expensesStart of year $223,404$6,250

X-25 Other liabilitiesStart of year $0$38,601

X-26 Total liabilitiesStart of year $223,404$44,851

X-27 Net assets without donor restrictionsStart of year $983,261$1,077,648

X-32 Total net assets or fund balancesStart of year $983,261$1,077,648

X-33 Total liabilities and net assetsStart of year $1,206,665$1,122,499

Part XI · Reconciliation of net assets $1,077,648 net assets at year end

XI-1 Total revenue$2,389,732

XI-2 Total expenses$2,295,345

XI-3 Revenue less expenses$94,387

XI-4 Net assets at start of year$983,261

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$1,077,648

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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The American Promise INC FY2023 filing

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

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV