Civic Intelligence

The Promise Foundation

990 • Fiscal year 2020 • EIN 20-1618720

Feb 01, 2019 to Jan 31, 2020 • Filed on Dec 15, 2020

Polsinelli 600 3rd Ave No 42flNew York, NY 10016

(212) 684-0199

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

100th percentile

137.19x

Higher debt load relative to assets than 100% of similar nonprofits.

2020 filings • NTEE T • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

98th percentile

3.31x

Higher debt load relative to revenue than 98% of similar nonprofits.

2020 filings • NTEE T • $500k-$1M nonprofits • Source year 2020

Net Margin

57th percentile

5.9%

Higher net margin than 57% of similar nonprofits.

2020 filings • NTEE T • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

80th percentile

$0

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • NTEE T • $500k-$1M nonprofits • Source year 2020

Asset Growth

1st percentile

-84%

Faster asset growth than 1% of similar nonprofits.

2020 filings • NTEE T • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

85th percentile

102%

Faster revenue growth than 85% of similar nonprofits.

2020 filings • NTEE T • $500k-$1M nonprofits • Annualized from 2019 to 2020

Assets

Down

$6,096

Down $31,432 (-84%) from 2019

Net Assets

Up

-$830,208

Up $14,822 (+1.8%) from 2019

Liabilities

Down

$836,304

Down $46,254 (-5.2%) from 2019

Revenue

Up

$252,968

Up $127,861 (+102%) from 2019

Expenses

Down

$238,146

Down $181,363 (-43%) from 2019

Net Income

Up

$14,822

Up $309,224 (+105%) from 2019

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.0M$500K$0-$500K-$1.0MAssets 2013: $113,212Liabilities 2013: $355,449Net Assets 2013: -$242,2372013Assets 2014: $40,313Liabilities 2014: $352,996Net Assets 2014: -$312,6832014Assets 2015: $1,547Liabilities 2015: $325,613Net Assets 2015: -$324,0662015Assets 2016: $37,555Liabilities 2016: $392,978Net Assets 2016: -$355,4232016Assets 2017: $44,132Liabilities 2017: $407,848Net Assets 2017: -$363,7162017Assets 2018: $65,839Liabilities 2018: $616,467Net Assets 2018: -$550,6282018Assets 2019: $37,528Liabilities 2019: $882,558Net Assets 2019: -$845,0302019Assets 2020: $6,096Liabilities 2020: $836,304Net Assets 2020: -$830,2082020Assets 2021: $8,414Liabilities 2021: $841,817Net Assets 2021: -$833,4032021Assets 2022: $6,383Liabilities 2022: $258,677Net Assets 2022: -$252,2942022Assets 2023: $3,367Liabilities 2023: $179,203Net Assets 2023: -$175,8362023Assets 2024: $4,819Liabilities 2024: $191,105Net Assets 2024: -$186,2862024Assets 2025: $5,829Liabilities 2025: $61,405Net Assets 2025: -$55,5762025

Highlighted filing

2020

Assets$6,096
Liabilities$836,304
Net Assets-$830,208

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KExpenses 2013: $1,063,8842013Revenue 2014: $733,772Expenses 2014: $804,218Net Income 2014: -$70,4462014Revenue 2015: $693,208Expenses 2015: $704,591Net Income 2015: -$11,3832015Revenue 2016: $844,930Expenses 2016: $876,287Net Income 2016: -$31,3572016Revenue 2017: $647,132Expenses 2017: $655,425Net Income 2017: -$8,2932017Revenue 2018: $417,154Expenses 2018: $604,066Net Income 2018: -$186,9122018Revenue 2019: $125,107Expenses 2019: $419,509Net Income 2019: -$294,4022019Revenue 2020: $252,968Expenses 2020: $238,146Net Income 2020: $14,8222020Revenue 2021: $134,508Expenses 2021: $137,703Net Income 2021: -$3,1952021Revenue 2022: $644,594Expenses 2022: $63,485Net Income 2022: $581,1092022Revenue 2023: $110,652Expenses 2023: $34,194Net Income 2023: $76,4582023Revenue 2024: $171Expenses 2024: $10,621Net Income 2024: -$10,4502024Revenue 2025: $165,000Expenses 2025: $34,290Net Income 2025: $130,7102025

Highlighted filing

2020

Revenue$252,968
Expenses$238,146
Net Income$14,822
Jump To
Filing Snapshot
Filing Period
Feb 1, 2019 to Jan 31, 2020
Signed
Dec 15, 2020
Return Version
2019v5.1
Gross Receipts
$783,016
Mission and Program Overview

Mission

To make a difference in the lives of young people affected by cancer and other terminal illnesses, through select funding of treatment, research and support programs to advance the fight against these diseases.

Help young people affected terminal illnesses, funding treatment, research & support programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Loans From Officers Directors$786,305$744,411▼ $41,894
Prepaid Expenses and Deferred Charges$30,000--
Cash and Non-Interest-Bearing Accounts$7,528$6,096▼ $1,432
Total Assets$37,528$6,096▼ $31,432
Liabilities
Accounts Payable and Accrued Expenses$96,253$91,893▼ $4,360
Total Liabilities$882,558$836,304▼ $46,254
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-845,030$-830,208▲ $14,822
Total Net Assets Fund Balance$-845,030$-830,208▲ $14,822
Total Liabilities and Net Assets / Fund Balance$37,528$6,096▼ $31,432
Compensation and Service Providers

Board Members and Trustees

NameTitle
Randy ReiffPresident
Jennifer Wiederkehr RothbergVice President

Highest Paid Contractors

ContractorServicesLocationCompensation
Leon BridgesEvent Performance405 LEXINGTON AVENUE, New York, NY 10174$227,500
Cipriani Wall StreetEvent Venue55 WALL ST, New York, NY 10005$202,539
Maverick Events LLCEvent & Consulting636 BROADWAY SUITE 1107, New York, NY 10012$116,963
Revenue and Support

Revenue Composition

Contributions and Grants
$396,320
Program Service Revenue
$0
Investment Income
$61
Other Revenue
$-143,413
All Other Contributions
$250,100
Change in Net Assets
$14,822
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$153,146
Total Fundraising Expense$109,430
Grants and Similar Amounts Paid$85,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other--$103,249$103,249
Grants to Domestic Orgs$85,000--$85,000
Fees for Services Accounting-$22,549-$22,549
Fees for Services Legal-$7,035-$7,035
Information Technology-$5,482-$5,482
Insurance-$4,000-$4,000
Other Expenses-$2,660$6,181$2,660
Office Expenses-$1,990-$1,990
Total Functional Expenses$85,000$43,716$109,430$238,146
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
CHARLEY'S FUNDGreat Barrington, MA501(c)(3)RESEARCH AND TREATMENT FOR DUCHENNE'S MUSCULAR DYSTROPHY.$50,000
The Valerie FundMaplewood, NJ501(c)(3)General Support$20,000
Harlem Village Academy Charter SchoolNew York, NY501(c)(3)General Support$10,000
Virtual Enterprises International IncNew York, NY501(c)(3)General Support$5,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$530,048
Fundraising Gross Income$386,635
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Benefit$532,855$386,635$38,828$347,807
Total Events$532,855$386,635$530,048$-143,413
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$786,305$744,411▼ $41,894
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

The organization did not have any separate committee meetings.

Form 990, Part VI, Section B, Line 11B

The 990 was provided to the board member for review before it was filed.

Form 990, Part VI, Section B, Line 12C

Organization requires the board member to complete an annual questionnaire and requested to disclose any conflict of interest or related party transactions or activity.

Form 990, Part VI, Section C, Line 19

These documents are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
The Promise Foundation
EIN
20-1618720
Phone
2126840199
Address
POLSINELLI 600 3RD AVE NO 42FL, NEW YORK, NY 10016

Signing Officer

Name
Randy Reiff
Title
President
Phone
2126840199
Signed
2020-12-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Randy Reiff
Formed
2004
Legal Domicile
Ny
Voting Board Members
1
Independent Board Members
1
Employees
0
Volunteers
0

Preparer

Firm
Skody Scot & Co Cpas Pc
Address
520 EIGHTH AVE SUITE 2200, NEW YORK, NY 10018
Preparer
William Skody
Phone
2129671100
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Consultants: program service expenses 0. Management and general expenses 0. Fundraising expenses 103,249. Total expenses 103,249.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt0386635
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0386635
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0-143413
IRS990ScheduleG/FundraisingEventInformationGrp/NonCashPrizesEvent1Amt018954
IRS990ScheduleG/FundraisingEventInformationGrp/NonCashPrizesTotalEventsAmt018954
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt038828
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt038828
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent1Amt0151327
IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt0151327
IRS990ScheduleG/LicensedStatesCd0NY
IRS990ScheduleG/SpecialFundraisingEventsInd0X
IRS990ScheduleG/TotalGrossReceiptsAmt0532855
IRS990ScheduleG/TotalNetToOrganizationAmt0429606
IRS990ScheduleG/TotalRetainedByContractorsAmt0103249
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt050000
IRS990ScheduleI/RecipientTable/CashGrantAmt15000
IRS990ScheduleI/RecipientTable/CashGrantAmt210000
IRS990ScheduleI/RecipientTable/CashGrantAmt320000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc2501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc3501(C)(3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0RESEARCH AND TREATMENT FOR DUCHENNE'S MUSCULAR DYSTROPHY.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1GENERAL SUPPORT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2GENERAL SUPPORT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3GENERAL SUPPORT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0CHARLEY'S FUND
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1VIRTUAL ENTERPRISES INTERNATIONAL INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2HARLEM VILLAGE ACADEMY CHARTER SCHOOL
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3THE VALERIE FUND
IRS990ScheduleI/RecipientTable/RecipientEIN0202014968
IRS990ScheduleI/RecipientTable/RecipientEIN1273362452
IRS990ScheduleI/RecipientTable/RecipientEIN2223880680
IRS990ScheduleI/RecipientTable/RecipientEIN3222126867
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0635 MAIN STREET SUITE 3
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1122 AMSTERDAM AVE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt235 WEST 124TH STREET 5TH FLOOR
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt32101 MILLBURN AVE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0GREAT BARRINGTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm1NEW YORK
IRS990ScheduleI/RecipientTable/USAddress/CityNm2NEW YORK
IRS990ScheduleI/RecipientTable/USAddress/CityNm3MAPLEWOOD
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3NJ
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd001230
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd110023
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd210027
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd307040
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION MONITORS THE USE OF GRANT FUNDS BY RECIPIENTS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt04
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt0744411
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0WORKING CAPITAL - INTEREST FREE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0885232
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0RANDY REIFF
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0RANDY REIFF IS THE SOLE TRUSTEE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd01
IRS990ScheduleL/TotalBalanceDueAmt0744411
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DID NOT HAVE ANY SEPARATE COMMITTEE MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 WAS PROVIDED TO THE BOARD MEMBER FOR REVIEW BEFORE IT WAS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ORGANIZATION REQUIRES THE BOARD MEMBER TO COMPLETE AN ANNUAL QUESTIONNAIRE AND REQUESTED TO DISCLOSE ANY CONFLICT OF INTEREST OR RELATED PARTY TRANSACTIONS OR ACTIVITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THESE DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONSULTANTS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 103,249. TOTAL EXPENSES 103,249.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/StatesWhereCopyOfReturnIsFldCd1NJ
IRS990/StatesWhereCopyOfReturnIsFldCd2CT
IRS990/StatesWhereCopyOfReturnIsFldCd3CA
IRS990/StatesWhereCopyOfReturnIsFldCd4MA
IRS990/StatesWhereCopyOfReturnIsFldCd5GA
IRS990/StatesWhereCopyOfReturnIsFldCd6IL
IRS990/StatesWhereCopyOfReturnIsFldCd7MD
IRS990/StatesWhereCopyOfReturnIsFldCd8VA
IRS990/StatesWhereCopyOfReturnIsFldCd9WA
IRS990/StatesWhereCopyOfReturnIsFldCd10PA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt037528
IRS990/TotalAssetsEOYAmt06096
IRS990/TotalAssetsGrp/BOYAmt037528
IRS990/TotalAssetsGrp/EOYAmt06096
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0396320
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0109430
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt043716
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt085000
IRS990/TotalFunctionalExpensesGrp/TotalAmt0238146
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0882558
IRS990/TotalLiabilitiesEOYAmt0836304
IRS990/TotalLiabilitiesGrp/BOYAmt0882558
IRS990/TotalLiabilitiesGrp/EOYAmt0836304
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-845030
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-830208
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt085000
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0-143352
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0252968
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt037528
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt06096
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0POLSINELLI 600 3RD AVE NO 42FL
IRS990/USAddress/CityNm0NEW YORK
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010016
IRS990/VotingMembersGoverningBodyCnt01
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0WWW.MATTSPROMISE.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01

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