Civic Intelligence

Promise Academy

990 • Fiscal year 2020 • EIN 35-2519571

Jul 01, 2019 to Jun 30, 2020 • Filed on Dec 09, 2020

Organization Profilewww.promisetyler.org
504 W 32nd StTyler, TX 75702

(903) 630-7369

Siviq Scores

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

Liabilities / Assets

44th percentile

0.06x

Higher debt load relative to assets than 44% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

33rd percentile

0.05x

Higher debt load relative to revenue than 33% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

94th percentile

64%

Higher net margin than 94% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

43rd percentile

$34,043

Higher top officer pay than 43% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

96th percentile

203%

Faster asset growth than 96% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2020

Revenue Growth

94th percentile

130%

Faster revenue growth than 94% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2020

Balance Sheet
Liabilities / Assets44th percentile

Assets

Up

$1,278,859

Up $1,139,672 (+819%) from 2018

Net Assets

Up

$1,195,857

Up $1,060,826 (+786%) from 2018

Liabilities

Up

$83,002

Up $78,846 (+1897%) from 2018

Revenue And Expenses
Liabilities / Revenue33rd percentileNet Margin94th percentile

Revenue

Up

$1,697,283

Up $1,377,475 (+431%) from 2018

Expenses

Up

$608,214

Up $290,416 (+91%) from 2018

Net Income

Up

$1,089,069

Up $1,087,059 (+54083%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

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

2020

Assets$1,278,859
Liabilities$83,002
Net Assets$1,195,857
Open 2020 Filing

Operations Trend

Revenue Growth94th percentile

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

2020

Revenue$1,697,283
Expenses$608,214
Net Income$1,089,069
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Dec 9, 2020
Return Version
2019v5.0
Gross Receipts
$1,697,283
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$48,417$1,097,937▲ $1,049,520
Investments in Publicly Traded Securities-$100,006-
Land, Buildings, and Equipment, Net$63,378$80,916▲ $17,538
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-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$111,795$1,278,859▲ $1,167,064
Other Assets Total-$0-
Liabilities
Other Liabilities$5,007$83,002▲ $77,995
Total Liabilities$5,007$83,002▲ $77,995
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$106,788$1,195,857▲ $1,089,069
Total Net Assets Fund Balance$106,788$1,195,857▲ $1,089,069
Total Liabilities and Net Assets / Fund Balance$111,795$1,278,859▲ $1,167,064

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$75,038$7,585$82,623
Buildings$4,460$56$4,516
Equipment$1,418$355$1,773
Compensation and Service Providers
Top Officer Pay43rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Sarah CummingHead of SchoolFT$34,043$34,043

Board Members and Trustees

NameTitle
Alan CummingPresident
Brian BrandtMember
Cynthia FreemanMember
Cynthia RiterMember
Krista WallaceMember
Mary BerryMember
Tom BrownMember
Trey YarbroughMember
Ricky GarnerSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,662,464
Program Service Revenue
$34,736
Investment Income
$83
Other Revenue
$0
All Other Contributions
$1,662,464
Change in Net Assets
$1,089,069
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$430,290
Other Expenses$177,924
Total Fundraising Expense$7,699
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$235,073$130,158-$365,231
Occupancy$76,708$1,995-$78,703
Current Officers, Directors, Trustees, and Key Employees$34,043--$34,043
Payroll Taxes$29,465$1,551-$31,016
Fees for Services Accounting-$20,428-$20,428
All Other Expenses$7,679$4,859$3,758$16,296
Insurance-$6,014-$6,014
Travel$5,927--$5,927
Office Expenses$4,429--$4,429
Advertising$128-$3,941$4,069
Other Expenses$3,893--$3,893
Depreciation Depletion-$2,251-$2,251
Fees for Services Other$80--$80
Total Functional Expenses$433,259$167,256$7,699$608,214
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
SBA Loan$73,253
Payroll liabilities$8,037
Credit Card Payable$1,712
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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
Phone
9036307369
Address
504 W 32nd St, TYLER, TX 75702

Signing Officer

Name
Alan Cumming
Title
President
Signed
2020-12-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alan Cumming
Formed
2014
Legal Domicile
TX
Voting Board Members
9
Independent Board Members
8
Employees
29
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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IRS990/OtherExpensesGrp/Desc3DUES & SUBSCRIPTIONS
IRS990/OtherExpensesGrp/ProgramServicesAmt018332
IRS990/OtherExpensesGrp/ProgramServicesAmt112848
IRS990/OtherExpensesGrp/ProgramServicesAmt24654
IRS990/OtherExpensesGrp/ProgramServicesAmt33893
IRS990/OtherExpensesGrp/TotalAmt018332
IRS990/OtherExpensesGrp/TotalAmt112848
IRS990/OtherExpensesGrp/TotalAmt24654
IRS990/OtherExpensesGrp/TotalAmt33893
IRS990/OtherLiabilitiesGrp/BOYAmt05007
IRS990/OtherLiabilitiesGrp/EOYAmt083002
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0130158
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0235073
IRS990/OtherSalariesAndWagesGrp/TotalAmt0365231
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01551
IRS990/PayrollTaxesGrp/ProgramServicesAmt029465
IRS990/PayrollTaxesGrp/TotalAmt031016
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Alan Cumming
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0ACADEMIC TUITION
IRS990/ProgramServiceRevenueGrp/Desc1FIELD TRIP INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt034586
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1150
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt034586
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1150
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt01089069
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/SchoolInd0X
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/BuildingsGrp/BookValueAmt04460
IRS990ScheduleD/BuildingsGrp/DepreciationAmt056
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt04516
IRS990ScheduleD/EquipmentGrp/BookValueAmt01418
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0355
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01773
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt075038
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt07585
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt082623
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01712
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt18037
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt273253
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Credit Card Payable
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Payroll liabilities
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2SBA Loan
IRS990ScheduleD/TotalBookValueLandBuildingsAmt080916
IRS990ScheduleD/TotalLiabilityAmt083002
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 5 - Explanation of Organization Discrimination by Race
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0111795
IRS990/TotalAssetsEOYAmt01278859
IRS990/TotalAssetsGrp/BOYAmt0111795
IRS990/TotalAssetsGrp/EOYAmt01278859
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01662464
IRS990/TotalEmployeeCnt029
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt07699
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0167256
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0433259
IRS990/TotalFunctionalExpensesGrp/TotalAmt0608214
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05007
IRS990/TotalLiabilitiesEOYAmt083002
IRS990/TotalLiabilitiesGrp/BOYAmt05007
IRS990/TotalLiabilitiesGrp/EOYAmt083002
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0106788
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01195857
IRS990/TotalProgramServiceExpensesAmt0433259
IRS990/TotalProgramServiceRevenueAmt034736
IRS990/TotalReportableCompFromOrgAmt034043
IRS990/TotalRevenueGrp/ExclusionAmt083
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt034736
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01697283
IRS990/TotalVolunteersCnt050
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0111795
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01278859
IRS990/TravelGrp/ProgramServicesAmt05927
IRS990/TravelGrp/TotalAmt05927

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,278,859
Liabilities
$83,002
Net assets
$1,195,857
Revenue
$1,697,283
Expenses
$608,214
Net income
$1,089,069
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