To create college, career, and community innovations and high-impact, evidence-based interventions to aid hardworking learners of all ages in achieving their full potential, including specifically to help learns move to and through college.

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
Run by 3 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 4
filings with a surplus
Average surplus $76K a year · 16% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$35K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
49 mo
of spending, in cash
Looks good: 48.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $866K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$4.9M
94% of total assets
Concern: liabilities are 94% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.0M
×22 vs prior year
Spent
$1.3M
To programs
98%
Net assets
$305K
By yearFY2021–FY2024
Revenue
$1.0M
FY2024▲ ×22
Tap a bar for its year
Revenue by fiscal year
FY2021$881K
FY2022$100
FY2023$46K
FY2024$1.0M
Expenses
$1.3M
FY2024▲ ×43
Tap a bar for its year
Expenses by fiscal year
FY2021$137K
FY2022$209K
FY2023$30K
FY2024$1.3M
Net assets
$305K
FY2024▼ -45%
Tap a bar for its year
Net assets by fiscal year
FY2021$744K
FY2022$535K
FY2023$552K
FY2024$305K

From the FY2024 Form 990 · 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: FY2024. IRS ruling in Mar 2023.

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

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $1.3M Management & general 2% · $26K

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

4 people listed on the 990; $35K paid to officers and key staff.

Part VII, Section A · reportable compensation
Interim CEO
$35,156Pt VII · Sec A
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A

Betty Rhoades’s $35K as Interim CEO is at the 5th percentile of top reported officer pay among 3395 $1–10M education 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.

See Promise Pathways 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

Develops programs to help learners of all ages succeed in college, careers, and communities.

Questions for Promise Pathways INC

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Provided by the organization

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2 programs · $1.3M · in their own filed words · FY2024
01

US Family Health Plan (usfhp)

Promise pathways has partnered with bmi (brighton marine inc.) under a fiscal sponsorship agreement to operate the us family health plan pursuant to a contract with the defense health agency (dha) to provide military and veteran families with quality health care.

$884Kprogram expense
02

The organization aims to build on and contribute to an evidence base of best-in-class college, career, and community strategies through programs such as the leadership institute, career pathways center, and innovation lab.

$370Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2020
Total grants receivedfrom 1 funder$866K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.0M
Ln 12
Fees for servicesLn 2g$1.0M
Gifts and grantsLn 1h$10K
Money outPt IX
$1.3M
Ln 25
Programscol B$1.3M
Managementcol C$26K
Owns and owesPt X
$305K
net assets · Ln 32
Cash and savingsLn 1–2$5.2M
Total assetsLn 16$5.2M
LiabilitiesLn 26$4.9M
PeoplePt VI, VII
4
listed · VII A
PaidVII A1
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$10K
Fees for servicesLn 2g$1.0M
Total revenueLn 12$1.0M
Assets in detailPt X, end of year
CashLn 1$5.2M
Cash and savings togetherLn 1–2$5.2M
Total assetsLn 16$5.2M
LiabilitiesLn 26$4.9M
Net assetsLn 32$305K
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
LineStart FY24End FY24
Cash and savingsLn 1–2$552K$5.2M
Total assetsLn 16$552K$5.2M
LiabilitiesLn 26$0$4.9M
Net assetsLn 32$552K$305K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$35K$35K
Other salaries and wagesLn 7$642K$642K
Pension plan contributionsLn 8$17K$17K
Other employee benefitsLn 9$76K$76K
Payroll taxesLn 10$62K$62K
Legal feesLn 11b$4K$4K
Accounting feesLn 11c$18K$14K$4K
Other fees for servicesLn 11g$392K$387K$5K
Office expensesLn 13$7K$7K
Information technologyLn 14$529$529
TravelLn 17$8K$5K$3K
Conferences, conventions and meetingsLn 19$15K$15K
InsuranceLn 23$2K$2K
Total functional expensesLn 25$1.3M$1.3M$26K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.0M$1.3M−$246K$305K 990 PDF
FY2023 $46K$30K$17K$552K 990 PDF
FY2022 $100$209K−$209K$535K 990 PDF
FY2021 $881K$137K$744K$744K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $1,034,172 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $46,500$10,000
I-9 Program service revenuePrior year $0$1,024,172
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $46,500$1,034,172
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$833,386
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $29,856$447,094
I-18 Total expensesPrior year $29,856$1,280,480
I-19 Revenue less expensesPrior year $16,644−$246,308
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 $1,034,172 across 4 lines filed
VIII-1f All other contributions, gifts and grants$10,000
VIII-1h Total contributions, gifts and grants$10,000
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,024,172$1,024,172
VIII-12 Total revenueRelated to mission $1,024,172 · Unrelated business $0 · Excluded from tax $0$1,034,172
Part IX · Statement of functional expenses $1,280,480 across 13 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $35,156$35,156
IX-7 Other salaries and wagesPrograms $642,179$642,179
IX-8 Pension plan contributionsPrograms $17,312$17,312
IX-9 Other employee benefitsPrograms $76,377$76,377
IX-10 Payroll taxesPrograms $62,362$62,362
IX-11b Legal feesManagement $4,459$4,459
IX-11c Accounting feesPrograms $13,900 · Management $4,150$18,050
IX-11g Other fees for servicesPrograms $386,736 · Management $5,206$391,942
IX-13 Office expensesManagement $6,916$6,916
IX-14 Information technologyPrograms $529$529
IX-17 TravelPrograms $5,483 · Management $2,790$8,273
IX-19 Conferences, conventions and meetingsPrograms $14,636$14,636
IX-23 InsuranceManagement $2,289$2,289
IX-25 Total functional expensesPrograms $1,254,670 · Management $25,810 · Fundraising $0$1,280,480
Part X · Balance sheet $5,243,607 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $551,544$5,217,182
X-4 Accounts receivableStart of year $0$26,425
X-16 Total assetsStart of year $551,544$5,243,607
X-17 Accounts payable and accrued expenses$462,543
X-19 Deferred revenue$4,475,828
X-26 Total liabilitiesStart of year $0$4,938,371
X-32 Total net assets or fund balancesStart of year $551,544$305,236
X-33 Total liabilities and net assetsStart of year $551,544$5,243,607
Part XI · Reconciliation of net assets $305,236 net assets at year end
XI-1 Total revenue$1,034,172
XI-2 Total expenses$1,280,480
XI-3 Revenue less expenses−$246,308
XI-4 Net assets at start of year$551,544
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$305,236

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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