Promise Housing Plus

Tax-deductible

Louisville, KY501(c)(3)ReligionEIN 85-2499633

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Provide affordable Housing to the disadvantaged

501(c)(3) charity; gifts are tax-deductible.
73¢ of each $1 spent went to programs.
Run by 2 volunteers and 5 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
3 of 5
filings with a surplus
Average surplus $16K a year · 6% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
73%
of spending
Fine: 73% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$38K
to officers and key staff · 18% of spending
Top officer’s pay lower than 61% of similar orgs
Fine: pay to officers and key staff is 18% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$17K
12% of total assets
Looks good: liabilities are 12% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$243K
+11% vs prior year
Spent
$212K
To programs
73%
Net assets
$126K
By yearFY2020–FY2025
Revenue
$243K
FY2025▲ +11%
Revenue by fiscal year
FY2020$46K
FY2021$263K
FY2022$257K
FY2023$486K
FY2024$220K
FY2025$243K
Expenses
$212K
FY2025▼ -15%
Expenses by fiscal year
FY2020Not on file
FY2021$98K
FY2022$202K
FY2023$625K
FY2024$249K
FY2025$212K
Net assets
$126K
FY2025▲ +32%
Net assets by fiscal year
FY2020$44K
FY2021$209K
FY2022$264K
FY2023$125K
FY2024$96K
FY2025$126K

From the FY2025 Form 990 · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 2022.

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

Where the money goes

73 cents of each dollar spent went to programs.

Program services 73% · $155K Management & general 27% · $58K Fundraising 0% · $162

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

7 people listed on the 990; $38K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$38,000Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A

Jasmine Newton’s $38K as Executive Director is at the 39th percentile of top reported officer pay among 2133 $100K–1M religion 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

NameFY2025FY2024FY2023FY2022FY2021
Jasmine Newton$38,000————
C Ryan Stoess—$33,654$35,000$35,000$35,000

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.

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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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Builds and provides affordable homes for people in need.

Provided by the organization

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2 program services account for $155K of program spending, described in the organization's own filed words · FY2025.
01

Job training and skills development for employees who experience difficulties in gaining employment elsewhere

$155Kprogram expense
02

Preparation to acquire housing to refirbish and donate to appropriate organization

Pt IX · col B

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By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$243K
Ln 12
Fees for servicesLn 2g$130K
Gifts and grantsLn 1h$113K
Money outPt IX
$212K
Ln 25
Programscol B$155K
Managementcol C$58K
Fundraisingcol D$162
Owns and owesPt X
$126K
net assets · Ln 32
Cash and savingsLn 1–2$34K
Total assetsLn 16$144K
LiabilitiesLn 26$17K
PeoplePt VI, VII
7
listed · VII A
PaidVII A1
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$113K
Fees for servicesLn 2g$130K
Gains on assetsLn 7$0
Total revenueLn 12$243K
Assets in detailPt X, end of year
CashLn 1$34K
SavingsLn 2$0
Cash and savings togetherLn 1–2$34K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$8K
Other assetsLn 15$101K
Total assetsLn 16$144K
LiabilitiesLn 26$17K
Net assetsLn 32$126K
OperationsPt I, VI
EmployeesI 55
VolunteersI 62
Fiscal year endsHeaderDecember
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 FY25End FY25
Cash and savingsLn 1–2$34K$34K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$14K$8K
Total assetsLn 16$106K$144K
LiabilitiesLn 26$10K$17K
Net assetsLn 32$96K$126K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$38K$38K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$75K$75K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$10K$6K$3K
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$612$612
Office expensesLn 13$4K$4K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$79$79
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$5K$3K$2K
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$65K$62K$3K$162
All other expensesLn 24e$12K$9K$3K
Total functional expensesLn 25$212K$155K$58K$162

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $243K$212K$31K$126K 990 PDF
FY2024 $220K$249K−$29K$96K 990 PDF
FY2023 $486K$625K−$139K$125K 990 PDF
FY2022 $257K$202K$55K$264K 990 PDF
FY2021 $263K$98K$165K$209K 990 PDF
FY2020 $46K$44K 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 FY2025 990 (4 parts)
Part VIII · Statement of revenue $243,244 across 9 lines filed
VIII-1f All other contributions, gifts and grants$113,122
VIII-1h Total contributions, gifts and grants$113,122
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $130,122$130,122
VIII-3 Investment income$0
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $130,122$243,244
Part IX · Statement of functional expenses $212,468 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffManagement $38,000$38,000
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $74,582$74,582
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxesPrograms $6,338 · Management $3,229$9,567
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotionManagement $612$612
IX-13 Office expensesManagement $3,635$3,635
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestManagement $79$79
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $3,113 · Management $1,586$4,699
IX-23 InsuranceManagement $4,252$4,252
IX-24 Other expenses (24a–d)Programs $61,688 · Management $3,354 · Fundraising $162$65,204
IX-24e All other expensesPrograms $8,876 · Management $2,962$11,838
IX-25 Total functional expensesPrograms $154,597 · Management $57,709 · Fundraising $162$212,468
Part X · Balance sheet $143,509 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $34,400$34,243
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, netStart of year $13,912$8,347
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $57,621$100,919
X-16 Total assetsStart of year $105,933$143,509
X-17 Accounts payable and accrued expensesStart of year $10,333$17,133
X-26 Total liabilitiesStart of year $10,333$17,133
X-32 Total net assets or fund balancesStart of year $95,600$126,376
X-33 Total liabilities and net assetsStart of year $105,933$143,509
Part XI · Reconciliation of net assets $126,376 net assets at year end
XI-1 Total revenue$243,244
XI-2 Total expenses$212,468
XI-3 Revenue less expenses$30,776
XI-4 Net assets at start of year$95,600
XI-10 Net assets at end of year$126,376

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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