Promise Housing Plus

Louisville, KY · Religious organization · Religion

✓ Tax-deductible
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

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Yes — filed FY2025
Legal name (IRS)Hdr · item CPromise Housing Plus
EINHdr · item D85-2499633
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFSep 2022
Latest filingForm 990FY2025 · Form 990
Principal addressHdr · item CLouisville, KY
NTEE classificationIRS BMFReligion (X20)

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.73 Management & general $0.27 Fundraising $0.00
Program services73%$155K
Management & general27%$58K
Fundraising$162
Total functional expensesLn 25$212K

Financial health

Is it on solid ground?

Program efficiency
73%
of spending reaches programs▲ +13% vs prior filing year
Operating runway
1.9mo
months of highly liquid reserves at operating expense rate▲ +12% vs prior filing year
Surplus margin
+13%
revenue over expenses, this year▲ +195% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Total assets
$144K
FY2025▲ +35%
Total assets by fiscal year
FY2020Not on file
FY2021$211K
FY2022$267K
FY2023$129K
FY2024$106K
FY2025$144K
Total liabilities
$17K
FY2025▲ +66%
Total liabilities by fiscal year
FY2020Not on file
FY2021$2K
FY2022$3K
FY2023$5K
FY2024$10K
FY2025$17K
Revenue less expensesPt I · Ln 19$31K
Total assetsPt X · Ln 16$144K
Program-expense ratioPt IX · col B73%
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 46

Balance Sheet

Part X · end of year
CashLn 1$34K
Total assetsLn 16$144K
Total liabilitiesLn 26$17K
Total net assetsLn 32$126K
Months of cash on handcomputed1.9

Statement of Revenue

Part VIII
Program service revenue$130K · 53%
Contributions & grants$113K · 47%
Program service revenue53%$130K
Contributions & grants47%$113K
Total revenueLn 12$243K

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $34K · Operating expenses/yr $212K
1.9 months
Where the money goes
Program services
Program services $155K · Total expenses $212K
73%
Management & General
Management & general $58K · Total expenses $212K
27%
Fundraising
Fundraising $162 · Total expenses $212K
0.08%
Cost to raise $1
Fundraising expense (3-yr avg) $128 · Solicited contributions (3-yr avg) $83K
$0.00 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $113K · Total revenue $243K
47%
Government reliance
Government grants — · Total revenue $243K
—
Earned-income share
Program service revenue $130K · Total revenue $243K
53%
Investment reliance
Investment income $0 · Total revenue $243K
0%
Program self-sufficiency
Program service revenue $130K · Total expenses $212K
61%
Growth & trend
Revenue growth (YoY)
This year $243K · Prior year $220K
+11%
Revenue CAGR
FY2020 $46K · FY2025 $243K
+40%
Net-asset trend (YoY)
End of year $126K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $243K · Expenses $212K
+13%
Liabilities-to-Assets
Total liabilities — · Total assets $144K
—
Net-asset ratio
Net assets $126K · Total assets $144K
88%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $144K
0%
People & payroll
Highest Reported Total Compensation
Individual Jasmine Newton · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $38K · Total expenses $212K
18%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $122K · Total expenses $212K
57%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 73%——
Overhead ratio 27%——
Fundraising cost ratio 0.1%——
Revenue growth 11%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

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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Governance & Policies

Part VI
  • 6Voting board membersPt VI · Ln 1a
  • 6Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aNo
  • Whistleblower policyPt VI · Ln 13No
  • Document retention policyPt VI · Ln 14No
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2Yes

Mission and programs

What it does.

Builds and provides affordable homes for people in need.

Provided by the organization

This section is blank until Promise Housing Plus claims this page.

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Mission & Programs · Part III

Where the work happens

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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Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2025 Latest Viewing $243K$212K+11% 990 PDF
FY2024 $220K$249K-55% 990 PDF
FY2023 $486K$625K+89% 990 PDF
FY2022 $257K$202K-2% 990 PDF
FY2021 $263K$98K+477% 990 PDF
FY2020 $46K— 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

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

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