Civic Intelligence

Promise Academy

990 • Fiscal year 2024 • EIN 35-2519571

Jul 01, 2023 to Jun 30, 2024 • Filed on May 15, 2025

Organization Profilewww.promisetyler.org

View Organization Page

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

41st percentile

0.00x

Higher debt load relative to assets than 41% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

40th percentile

0.00x

Higher debt load relative to revenue than 40% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

10th percentile

-29%

Higher net margin than 10% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

68th percentile

$53,181

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 5.9% of source-year revenue.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

11th percentile

-21%

Faster asset growth than 11% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

27th percentile

-7.1%

Faster revenue growth than 27% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets41st percentile

Assets

Down

$988,795

Down $258,779 (-21%) from 2023

Net Assets

Down

$984,946

Down $256,237 (-21%) from 2023

Liabilities

Down

$3,849

Down $2,542 (-40%) from 2023

Revenue And Expenses
Liabilities / Revenue40th percentileNet Margin10th percentile

Revenue

Down

$902,851

Down $68,862 (-7.1%) from 2023

Expenses

Up

$1,169,161

Up $82,669 (+7.6%) from 2023

Net Income

Down

-$266,310

Down $151,531 (-132%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth11th 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

2024

Assets$988,795
Liabilities$3,849
Net Assets$984,946
Open 2024 Filing

Operations Trend

Revenue Growth27th 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

2024

Revenue$902,851
Expenses$1,169,161
Net Income-$266,310
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 15, 2025
Return Version
2023v6.0
Gross Receipts
$945,672
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
Investments in Publicly Traded Securities$593,069$738,115▲ $145,046
Land, Buildings, and Equipment, Net$178,239$172,727▼ $5,512
Cash and Non-Interest-Bearing Accounts$476,266$77,953▼ $398,313
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$1,247,574$988,795▼ $258,779
Other Assets Total-$0-
Liabilities
Other Liabilities$6,391$3,849▼ $2,542
Total Liabilities$6,391$3,849▼ $2,542
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,241,183$984,946▼ $256,237
Total Net Assets Fund Balance$1,241,183$984,946▼ $256,237
Total Liabilities and Net Assets / Fund Balance$1,247,574$988,795▼ $258,779

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$136,945$19,302$156,247
Equipment$31,774$6,084$37,858
Buildings$4,008$508$4,516
Compensation and Service Providers
Top Officer Pay68th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Sarah CummingHead of SchoolFT$53,181$53,181

Board Members and Trustees

NameTitle
Brian BrandtPresident
Cynthia FreemanMember
Cynthia RiterMember
Jon MooreMember
Kelli LomaxMember
Kellie PopeMember
Mary BerryMember
Nate HillMember
Ricky GarnerMember
Trey YarbroughMember
Jeanne-elizabeth RamirezSecretary
John MorrisonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$793,542
Program Service Revenue
$84,775
Investment Income
$24,534
Other Revenue
$0
All Other Contributions
$746,224
Change in Net Assets
$-266,310

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$30,000Fair Market Value (FMV)
Total Noncash Contributions1$30,000-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$841,873
Other Expenses$327,288
Total Fundraising Expense$101,685
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$455,290$202,341$70,000$727,631
Occupancy$63,438$22,817-$86,255
Payroll Taxes-$61,061-$61,061
All Other Expenses$36,217$13,464$6,037$55,718
Current Officers, Directors, Trustees, and Key Employees$53,181--$53,181
Fees for Services Accounting-$30,934-$30,934
Insurance-$20,040-$20,040
Other Expenses$14,612$32,758$15,351$14,612
Advertising-$2,454$10,297$12,751
Depreciation Depletion-$5,512-$5,512
Office Expenses-$3,703-$3,703
Travel-$2,461-$2,461
Total Functional Expenses$669,931$397,545$101,685$1,169,161
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$23,587
Fundraising Gross Income$23,587
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Banquet$70,905$23,587$23,587$0
Total Events$70,905$23,587$23,587-
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$3,644
Credit Card Payable$205
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, Section B, Line 11B

“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, Section B, Line 12C

“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, Section B, Line 15B

“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, Section C, Line 19

“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
Sarah Cumming
Title
Head of School
Signed
2025-05-15

Organization Details

Principal Officer
Sarah Cumming
Formed
2014
Legal Domicile
TX
Voting Board Members
12
Independent Board Members
12
Employees
39
Volunteers
33

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/InvestmentsPubTradedSecGrp/EOYAmt0738115
IRS990/IRPDocumentCnt011
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt025894
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0178239
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0172727
IRS990/LandBldgEquipCostOrOtherBssAmt0198621
IRS990/LegalDomicileStateCd0TX
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt019234
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd0false
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0Promise 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.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt01241183
IRS990/NetAssetsOrFundBalancesEOYAmt0984946
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-2157
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt02831
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0674
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt010073
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt01241183
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0984946
IRS990/NoncashContributionsAmt030000
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt022817
IRS990/OccupancyGrp/ProgramServicesAmt063438
IRS990/OccupancyGrp/TotalAmt086255
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt03703
IRS990/OfficeExpensesGrp/TotalAmt03703
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0STUDENT MEALS
IRS990/OtherExpensesGrp/Desc1MEALS & ENTERTAINMENT
IRS990/OtherExpensesGrp/Desc2OTHER FUNDRAISING
IRS990/OtherExpensesGrp/Desc3STUDENT ACTIVITY
IRS990/OtherExpensesGrp/FundraisingAmt015351
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt032758
IRS990/OtherExpensesGrp/ProgramServicesAmt047193
IRS990/OtherExpensesGrp/ProgramServicesAmt114612
IRS990/OtherExpensesGrp/TotalAmt047193
IRS990/OtherExpensesGrp/TotalAmt132758
IRS990/OtherExpensesGrp/TotalAmt215351
IRS990/OtherExpensesGrp/TotalAmt314612
IRS990/OtherLiabilitiesGrp/BOYAmt06391
IRS990/OtherLiabilitiesGrp/EOYAmt03849
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0ERC
IRS990/OtherRevenueMiscGrp/Desc1GROWTH GRANT INCOME
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt070000
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0202341
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0455290
IRS990/OtherSalariesAndWagesGrp/TotalAmt0727631
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt061061
IRS990/PayrollTaxesGrp/TotalAmt061061
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0SARAH CUMMING
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0ACADEMIC TUITION
IRS990/ProgramServiceRevenueGrp/Desc1EXTENDED CARE
IRS990/ProgramServiceRevenueGrp/Desc2STUDENT ACTIVITY
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt084010
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt125
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2740
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt084010
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt125
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2740
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0802738
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt024562
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0330305
IRS990/PYOtherRevenueAmt060374
IRS990/PYProgramServiceRevenueAmt084039
IRS990/PYRevenuesLessExpensesAmt0-114779
IRS990/PYSalariesCompEmpBnftPaidAmt0756187
IRS990/PYTotalExpensesAmt01086492
IRS990/PYTotalRevenueAmt0971713
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-266310
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt084775
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/BookValueAmt04008
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0508
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt04516
IRS990ScheduleD/EquipmentGrp/BookValueAmt031774
IRS990ScheduleD/EquipmentGrp/DepreciationAmt06084
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt037858
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0136945
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt019302
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0156247
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0205
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt13644
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Credit Card Payable
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Payroll liabilities
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0172727
IRS990ScheduleD/TotalLiabilityAmt03849
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

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$988,795
Liabilities
$3,849
Net assets
$984,946
Revenue
$902,851
Expenses
$1,169,161
Net income
-$266,310
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