Is it real?
Yes. Never revoked by the IRS. Latest filing we have: FY2021.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
70 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
6 people listed on the 990; $120K paid to officers and key staff (Part VII, Section A).
Compensation history total reportable pay by year · 1 named individual · Part VII
| Name | FY2022 | FY2021 |
|---|---|---|
| Geoffrey Fenelus | $120,000 | $60,000 |
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.
See Promise Prep INC executive salaries →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 15aYes
Programs and updates
Provides high-quality education to all students, fostering critical thinking and future success.
Questions for Promise Prep INC
Your first name shows with your question. Promise Prep INC answers here, for everyone.
Performed community outreach activities and enrolled 50 students during its first year of opening kindergarten through second grade.
Form 990 Part III, line 4, FY2021. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 84-4553687) · Dispute this lineFunders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2022 990, line by line.
Download 990
| Line | Start FY22 | End FY22 |
|---|---|---|
| Cash and savingsLn 1–2 | $620K | $0 |
| InvestmentsLn 11–13 | $0 | |
| Land, buildings, equipmentLn 10c | $0 | |
| Total assetsLn 16 | $641K | $0 |
| LiabilitiesLn 26 | $375K | $0 |
| Net assetsLn 32 | $266K | $0 |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of officers and key staff (Part IX, line 5)Ln 5 | $124K | $124K | ||
| Other salaries and wagesLn 7 | $332K | $235K | $96K | |
| Pension plan contributionsLn 8 | $120 | $120 | ||
| Other employee benefitsLn 9 | $45K | $45K | ||
| Payroll taxesLn 10 | $32K | $17K | $15K | |
| Legal feesLn 11b | $18K | $18K | ||
| Accounting feesLn 11c | $60K | $60K | ||
| Other fees for servicesLn 11g | $151K | $68K | $83K | |
| Advertising and promotionLn 12 | $15K | $15K | ||
| Information technologyLn 14 | $114K | $114K | ||
| OccupancyLn 16 | $270K | $270K | ||
| TravelLn 17 | $59K | $59K | ||
| InsuranceLn 23 | $15K | $15K | ||
| Other expenses (24a–d)Ln 24 | $187K | $168K | $19K | |
| All other expensesLn 24e | $2K | $2K | ||
| Total functional expensesLn 25 | $1.4M | $991K | $433K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2022 Latest ViewingFiled with the IRS Apr 26, 2023 | $1.6M | $1.4M | $149K | $0 | 990 PDF |
| FY2021Filed with the IRS May 13, 2022 | $614K | $476K | $138K | $266K | 990 PDF |
| FY2020Filed with the IRS May 15, 2021 | $128K | $128K | 990 PDF |
Schedules filed Part IV
See the full FY2022 990
Part I · Summary $1,572,628 revenue, 12 lines filed
Part VI · Governance 5 of 5 board members independent, no flags
Part VIII · Statement of revenue $1,572,628 across 5 lines filed
Part IX · Statement of functional expenses $1,424,015 across 15 lines filed
Part X · Balance sheet $0 assets, 20 lines filed
Part XI · Reconciliation of net assets $0 net assets at year end
Form 990 e-file FY2022 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File
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