Civic Intelligence

Promise Academy

990 • Fiscal year 2016 • EIN 35-2519571

Jan 01, 2016 to Dec 31, 2016 • Filed on Sep 19, 2017

Organization Profilewww.promisetyler.org
901 N BroadwayTyler, TX 75702

(903) 372-7534

Siviq Scores

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

Liabilities / Assets

65th percentile

0.02x

Higher debt load relative to assets than 65% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

65th percentile

0.01x

Higher debt load relative to revenue than 65% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

86th percentile

33%

Higher net margin than 86% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

82nd percentile

$17,478

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 8.0% of source-year revenue.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Balance Sheet
Liabilities / Assets65th percentile

Assets

$145,799

No earlier filing loaded for comparison.

Net Assets

$143,106

No earlier filing loaded for comparison.

Liabilities

$2,693

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin86th percentile

Revenue

$219,020

No earlier filing loaded for comparison.

Expenses

$147,513

No earlier filing loaded for comparison.

Net Income

$71,507

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$1.5M$1.0M$500K$0-$500KAssets 2016: $145,799Liabilities 2016: $2,693Net Assets 2016: $143,1062016Assets 2017: $136,991Liabilities 2017: $3,970Net Assets 2017: $133,0212017Assets 2018: $139,187Liabilities 2018: $4,156Net Assets 2018: $135,0312018Assets 2020: $1,278,859Liabilities 2020: $83,002Net Assets 2020: $1,195,8572020Assets 2021: $1,486,087Liabilities 2021: $179,228Net Assets 2021: $1,306,8592021Assets 2022: $1,347,405Liabilities 2022: $2,377Net Assets 2022: $1,345,0282022Assets 2023: $1,247,574Liabilities 2023: $6,391Net Assets 2023: $1,241,1832023Assets 2024: $988,795Liabilities 2024: $3,849Net Assets 2024: $984,9462024Assets 2025: $942,517Liabilities 2025: -$3,720Net Assets 2025: $946,2372025

Highlighted filing

2016

Assets$145,799
Liabilities$2,693
Net Assets$143,106
Open 2016 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2016: $219,020Expenses 2016: $147,513Net Income 2016: $71,5072016Revenue 2017: $236,463Expenses 2017: $246,548Net Income 2017: -$10,0852017Revenue 2018: $319,808Expenses 2018: $317,798Net Income 2018: $2,0102018Revenue 2020: $1,697,283Expenses 2020: $608,214Net Income 2020: $1,089,0692020Revenue 2021: $918,927Expenses 2021: $836,592Net Income 2021: $82,3352021Revenue 2022: $1,012,585Expenses 2022: $939,087Net Income 2022: $73,4982022Revenue 2023: $971,713Expenses 2023: $1,086,492Net Income 2023: -$114,7792023Revenue 2024: $902,851Expenses 2024: $1,169,161Net Income 2024: -$266,3102024Revenue 2025: $1,228,248Expenses 2025: $1,266,272Net Income 2025: -$38,0242025

Highlighted filing

2016

Revenue$219,020
Expenses$147,513
Net Income$71,507
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Sep 19, 2017
Return Version
2016v3.0
Gross Receipts
$219,020
Mission and Program Overview

Mission

Promise Academy cultivates wise, creative, and compassionate leaders through exemplary Christ-centered education in North Tyler for the joy of our city and the glory of God.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$55,304$78,040▲ $22,736
Land, Buildings, and Equipment, Net$18,471$67,759▲ $49,288
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$73,775$145,799▲ $72,024
Other Assets Total-$0-
Liabilities
Other Liabilities$2,176$2,693▲ $517
Total Liabilities$2,176$2,693▲ $517
Net Assets / Fund Balance
Unrestricted Net Assets$71,599$143,106▲ $71,507
Total Net Assets Fund Balance$71,599$143,106▲ $71,507
Total Liabilities and Net Assets / Fund Balance$73,775$145,799▲ $72,024

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$67,759$1,364$69,123
Compensation and Service Providers
Top Officer Pay82nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Sarah CummingHead of SchoolFT$17,478$17,478

Board Members and Trustees

NameTitle
Lee Alan CummingPresident
Amy CarterMember
Mary BerryMember
Ricky GarnerMember
Lee KiblingerSecretary
Brittany SmithTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$213,588
Program Service Revenue
$5,432
Investment Income
$0
Other Revenue
$0
All Other Contributions
$213,588
Change in Net Assets
$71,507
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$102,077
Other Expenses$45,436
Total Fundraising Expense$3,302
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$70,932$4,915-$75,847
Current Officers, Directors, Trustees, and Key Employees$17,478--$17,478
Occupancy$10,652$563-$11,215
Payroll Taxes$8,314$438-$8,752
Insurance-$6,865-$6,865
All Other Expenses$2,254$733$1,338$4,325
Other Expenses$2,031$2,993$1,764$1,764
Depreciation Depletion-$1,290-$1,290
Advertising$325-$200$525
Office Expenses$194--$194
Fees for Services Accounting-$182-$182
Information Technology-$137-$137
Total Functional Expenses$126,095$18,116$3,302$147,513
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
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
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll liabilities$2,693
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

“The head of school is married to the chairman of the board of trustees.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“A draft of the return was provided to the board for their review at their board meeting. Once approved by the board, the return was filed.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The organization regularly and consistently monitors and enforces compliance with their conflict of interest policy by reviewing the policy at board meetings. Any potential conflicts are discussed and handled as they arise.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“The independent members of the board approve the compensation in a regularly scheduled board meeting and their decision is recorded in the minutes.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Promise Academy
EIN
35-2519571
Address
901 N BROADWAY, TYLER, TX 75702

Signing Officer

Name
Alan Cumming
Title
President
Signed
2017-09-19
Discuss with paid preparer
Yes

Organization Details

Formed
2014
Legal Domicile
TX
Voting Board Members
6
Independent Board Members
6
Employees
10
Volunteers
50

Preparer

Firm
Prothro Wilhelmi & Company PLLC
Address
6855 Oak Hill Blvd, Tyler, TX 75703
Preparer
Walter K Wilhelmi
Phone
9035348811
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IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt012325
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportTotal170Amt0278087
IRS990ScheduleA/SubstantialContributorsTotAmt078088
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0213588
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0142587
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0356175
IRS990ScheduleA/TotalSupportAmt0356175
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt067759
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt01364
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt069123
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02693
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Payroll liabilities
IRS990ScheduleD/TotalBookValueLandBuildingsAmt067759
IRS990ScheduleD/TotalLiabilityAmt02693
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE HEAD OF SCHOOL IS MARRIED TO THE CHAIRMAN OF THE BOARD OF TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A DRAFT OF THE RETURN WAS PROVIDED TO THE BOARD FOR THEIR REVIEW AT THEIR BOARD MEETING. ONCE APPROVED BY THE BOARD, THE RETURN WAS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organization regularly and consistently monitors and enforces compliance with their conflict of interest policy by reviewing the policy at board meetings. Any potential conflicts are discussed and handled as they arise.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The independent members of the board approve the compensation in a regularly scheduled board meeting and their decision is recorded in the minutes.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt073775
IRS990/TotalAssetsEOYAmt0145799
IRS990/TotalAssetsGrp/BOYAmt073775
IRS990/TotalAssetsGrp/EOYAmt0145799
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0213588
IRS990/TotalEmployeeCnt010
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt03302
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt018116
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0126095
IRS990/TotalFunctionalExpensesGrp/TotalAmt0147513
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02176
IRS990/TotalLiabilitiesEOYAmt02693
IRS990/TotalLiabilitiesGrp/BOYAmt02176
IRS990/TotalLiabilitiesGrp/EOYAmt02693
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt071599
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0143106
IRS990/TotalProgramServiceExpensesAmt0126095
IRS990/TotalProgramServiceRevenueAmt05432
IRS990/TotalReportableCompFromOrgAmt017478
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt05432
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0219020
IRS990/TotalVolunteersCnt050
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt073775
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0145799
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt071599
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0143106
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0www.promisetyler.org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ALAN CUMMING
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-09-19
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PROMISE ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0PROM
ReturnHeader/Filer/EIN0352519571
ReturnHeader/Filer/USAddress/AddressLine1Txt0901 N BROADWAY
ReturnHeader/Filer/USAddress/CityNm0TYLER
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd075702
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Prothro Wilhelmi & Company PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt06855 Oak Hill Blvd
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Tyler
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd075703
ReturnHeader/PreparerPersonGrp/PhoneNum09035348811
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Walter K Wilhelmi
ReturnHeader/ReturnTs02017-09-21T06:43:09-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$145,799
Liabilities
$2,693
Net assets
$143,106
Revenue
$219,020
Expenses
$147,513
Net income
$71,507
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.94$0.00$0.95$1.23$1.27$0.04
2024Detailed filing. Detailed filing data is available for this year.$0.99$0.00$0.98$0.90$1.17$0.27
2023Detailed filing. Detailed filing data is available for this year.$1.25$0.01$1.24$0.97$1.09$0.11
2022Detailed filing. Detailed filing data is available for this year.$1.35$0.00$1.35$1.01$0.94$0.07
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.49$0.18$1.31$0.92$0.84$0.08
2020Detailed filing. Detailed filing data is available for this year.$1.28$0.08$1.20$1.70$0.61$1.09
2018Detailed filing. Detailed filing data is available for this year.$0.14$0.00$0.14$0.32$0.32$0.00
2017Detailed filing. Detailed filing data is available for this year.$0.14$0.00$0.13$0.24$0.25$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.15$0.00$0.14$0.22$0.15$0.07