Civic Intelligence

Lansing Promise

990 • Fiscal year 2023 • EIN 45-3363322

Jul 01, 2022 to Jun 30, 2023 • Filed on Nov 08, 2023

Organization Profilewww.lansingpromise.org
1221 Reo RoadLansing, MI 48910

(517) 512-3616

Siviq Scores

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

Liabilities / Assets

52nd percentile

0.08x

Higher debt load relative to assets than 52% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

49th percentile

0.08x

Higher debt load relative to revenue than 49% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

96th percentile

74%

Higher net margin than 96% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

80th percentile

$135,996

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 6.0% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

98th percentile

281%

Faster asset growth than 98% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

98th percentile

384%

Faster revenue growth than 98% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Up

$2,354,248

Up $1,737,074 (+281%) from 2022

Net Assets

Up

$2,176,903

Up $1,671,384 (+331%) from 2022

Liabilities

Up

$177,345

Up $65,690 (+59%) from 2022

Revenue And Expenses
Liabilities / Revenue49th percentileNet Margin96th percentile

Revenue

Up

$2,257,586

Up $1,791,541 (+384%) from 2022

Expenses

Up

$586,761

Up $231,569 (+65%) from 2022

Net Income

Up

$1,670,825

Up $1,559,972 (+1407%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$3.0M$2.0M$1.0M$0Assets 2013: $125,915Liabilities 2013: $6,2492013Assets 2014: $136,440Liabilities 2014: $12,500Net Assets 2014: $123,9402014Assets 2015: $999,033Liabilities 2015: $6,707Net Assets 2015: $992,3262015Assets 2016: $942,050Liabilities 2016: $0Net Assets 2016: $942,0502016Assets 2017: $756,726Liabilities 2017: $17,561Net Assets 2017: $739,1652017Assets 2018: $465,665Liabilities 2018: $15,529Net Assets 2018: $450,1362018Assets 2019: $314,576Liabilities 2019: $17,830Net Assets 2019: $296,7462019Assets 2020: $270,319Liabilities 2020: $38,443Net Assets 2020: $231,8762020Assets 2021: $407,321Liabilities 2021: $12,655Net Assets 2021: $394,6662021Assets 2022: $617,174Liabilities 2022: $111,655Net Assets 2022: $505,5192022Assets 2023: $2,354,248Liabilities 2023: $177,345Net Assets 2023: $2,176,9032023Assets 2024: $2,180,821Liabilities 2024: $10,961Net Assets 2024: $2,169,8602024Assets 2025: $2,810,090Liabilities 2025: $12,872Net Assets 2025: $2,797,2182025

Highlighted filing

2023

Assets$2,354,248
Liabilities$177,345
Net Assets$2,176,903
Open 2023 Filing

Operations Trend

Revenue Growth98th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2013: $158,850Expenses 2013: $161,498Net Income 2013: -$2,6482013Revenue 2014: $240,803Expenses 2014: $236,529Net Income 2014: $4,2742014Revenue 2015: $1,188,484Expenses 2015: $320,098Net Income 2015: $868,3862015Revenue 2016: $468,113Expenses 2016: $518,389Net Income 2016: -$50,2762016Revenue 2017: $387,225Expenses 2017: $590,113Net Income 2017: -$202,8882017Revenue 2018: $518,157Expenses 2018: $807,186Net Income 2018: -$289,0292018Revenue 2019: $584,135Expenses 2019: $737,525Net Income 2019: -$153,3902019Revenue 2020: $550,275Expenses 2020: $620,146Net Income 2020: -$69,8712020Revenue 2021: $475,531Expenses 2021: $312,741Net Income 2021: $162,7902021Revenue 2022: $466,045Expenses 2022: $355,192Net Income 2022: $110,8532022Revenue 2023: $2,257,586Expenses 2023: $586,761Net Income 2023: $1,670,8252023Revenue 2024: $683,868Expenses 2024: $693,749Net Income 2024: -$9,8812024Revenue 2025: $1,829,867Expenses 2025: $1,300,626Net Income 2025: $529,2412025

Highlighted filing

2023

Revenue$2,257,586
Expenses$586,761
Net Income$1,670,825
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Nov 8, 2023
Return Version
2022v5.0
Gross Receipts
$2,271,577
Mission and Program Overview

Mission

The lansing promise is a scholarship program designed to transform the lives of students, families and the lansing community. It offers a promise of hope for lansing's youth and long-term goal of changing the culture of lansing into a well-educated, vibrant, prosperous community for years to come. It inspires students to complete high school, sharpens focus on academic achievement and provides a direct path to post-secondary educational opportunities.

Lansing Promise helps students in gaining access to higher education through readiness and scholarships.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$8,852$2,180,309▲ $2,171,457
Cash and Non-Interest-Bearing Accounts$551,848$81,268▼ $470,580
Accounts Receivable$55,474$76,901▲ $21,427
Prepaid Expenses and Deferred Charges$1,000$6,007▲ $5,007
Total Assets$617,174$2,354,248▲ $1,737,074
Other Assets Total-$9,763-
Liabilities
Accounts Payable and Accrued Expenses$106,655$119,345▲ $12,690
Deferred Revenue$5,000$58,000▲ $53,000
Total Liabilities$111,655$177,345▲ $65,690
Net Assets / Fund Balance
Net Assets With Donor Restrictions-$1,737,868-
Net Assets Without Donor Restrictions$505,519$439,035▼ $66,484
Total Net Assets Fund Balance$505,519$2,176,903▲ $1,671,384
Total Liabilities and Net Assets / Fund Balance$617,174$2,354,248▲ $1,737,074

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$9,763--
Compensation and Service Providers
Top Officer Pay80th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Justin SheehanPresident CEOFT$110,068$25,928$135,996

Board Members and Trustees

NameTitle
Kellie P DeanBoard Chair
Abel TravisVice Chair
Adam WilliamsDirector
Alan HallerDirector
Carmen ArgersingerDirector
Chris HolmanDirector
DeYeya JonesDirector
Dominic CarboneDirector
Dr Rick WendorfDirector
Jeff BensonDirector
Jen SturdyDirector
Julie MannDirector
Karen GrannemannDirector
Kelli E EtchisonDirector
Lea AmmermanDirector
Mayor Andy SchorDirector
Michael YankowskiDirector
Michelle MasseyDirector
Sheri JonesDirector
Stella CashDirector
Nino RodriguezSecretary
Jon LundyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,239,695
Program Service Revenue
$0
Investment Income
$17,882
Other Revenue
$9
All Other Contributions
$2,201,195
Change in Net Assets
$1,670,825

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,256,790
Revenue Not Reported on Form 990
$14,550
Total Revenue per Audited Statements
$2,271,340
Total Revenue per Form 990
$2,256,790
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$273,810
Salaries, Compensation, and Employee Benefits$197,192
Other Expenses$115,759
Total Fundraising Expense$59,501
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$273,810--$273,810
Current Officers, Directors, Trustees, and Key Employees$56,093$14,023$70,116$140,232
Fees for Services Management$12,635$40,223$10,317$63,175
Other Salaries and Wages$13,497$26,994$4,499$44,990
Advertising$24,910-$10,676$35,586
Information Technology$7,357$4,831$7,629$19,817
Conferences and Meetings$6,959$2,364$8,371$17,694
Office Expenses$5,204$3,477$7,852$16,533
Fees for Services Accounting-$15,345-$15,345
Payroll Taxes$4,444$2,918$4,608$11,970
Occupancy$3,715$2,440$3,853$10,008
Other Expenses$108,692$2,739$1,826$4,565
Insurance$1,563$1,027$1,621$4,211
Travel--$133$133
Total Functional Expenses$518,879$8,381$59,501$586,761

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$600,752
Expenses per Audited Statements$586,761
Total Expenses per Form 990$586,761
Expenses Not Reported on Form 990$13,991
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Lansing Community CollegeLansing, MI501c3-$163,552
Michigan State UniversityEast Lansing, MI501c3-$58,567
Lansing School DistrictLansing, MI501c3-$22,000
Davenport UniversityGrand Rapids, MI501c3-$6,189
The Village of LansingLansing, MI501c3-$5,500
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$14,000
Fundraising Direct Expenses$13,991
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Outing$52,500$14,000-$14,000
Total Events$52,500$14,000$13,991$9
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
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
Yes
Other officer compensation reviewed
No
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 governing body review Part VI line 11

“The Form 990 is received by the organizations Finance Committee and Board Chair who reviews the return for accuracy with the Executive Director. After any concerns presented are addressed, the Form 990 is emailed to all of the board members.”

Conflict of interest policy compliance Part VI line 12C

“All Directors are required to verbally disclose any conflicts of interest and to notify the Board Chair of any conflicts that may arise throughout the year.”

CEO executive director top management comp Part VI line 15A

“The Board of Directors determine the salary of the Executive Director in meetings without the Executive Director present.”

Governing documents etc available to public Part VI line 19

“The Form 990 is public information through the Michigan Attorney Generals office. Other governing documents may be requested at the Lansing Promise address.”

Filing and Contact Details

Filer

Filer Name
Lansing Promise
EIN
45-3363322
Address
1221 Reo Road, Lansing, MI 48910

Signing Officer

Name
Justin Sheehan
Title
President CEO
Signed
2023-11-08
Discuss with paid preparer
No

Organization Details

Formed
2011
Legal Domicile
Mi
Voting Board Members
22
Independent Board Members
22
Employees
3
Volunteers
47

Preparer

Firm
MasterPlan Inc
Address
6314 High Street, Haslett, MI 48840
Preparer
James E Eddy CPA
Phone
5178976814
Supplemental Narrative

Additional Explanations

Audited by an independent accountant Part XII line 2B

“Lansing Promise has a committee that assumes responsibility for oversight of the audit of its financial statements and selection of an independent acccountant. This process has not changed from the prior year.”

Financial Statement Notes

Other revenues not included on Form 990 (Part XI, line 2D)

“Direct Fundraising Event Expenses”

Other expenses not included on Form 990 (Part XII, line 2D)

“Direct Fundraising Event Expenses”

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IRS990/Form990PartVIISectionAGrp/PersonNm8Michael Yankowski
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IRS990/Form990PartVIISectionAGrp/PersonNm12Jeff Benson
IRS990/Form990PartVIISectionAGrp/PersonNm13Carmen Argersinger
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IRS990/Form990PartVIISectionAGrp/PersonNm20Kellie P Dean
IRS990/Form990PartVIISectionAGrp/PersonNm21Nino Rodriguez
IRS990/Form990PartVIISectionAGrp/PersonNm22Jon Lundy
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IRS990/Form990PartVIISectionAGrp/TitleTxt0President CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1Director
IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
IRS990/Form990PartVIISectionAGrp/TitleTxt16Director
IRS990/Form990PartVIISectionAGrp/TitleTxt17Director
IRS990/Form990PartVIISectionAGrp/TitleTxt18Director
IRS990/Form990PartVIISectionAGrp/TitleTxt19Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt20Board Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt21Secretary
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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,354,248
Liabilities
$177,345
Net assets
$2,176,903
Revenue
$2,257,586
Expenses
$586,761
Net income
$1,670,825
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.81$0.01$2.80$1.83$1.30$0.53
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.18$0.01$2.17$0.68$0.69$0.01
2023Detailed filing. Detailed filing data is available for this year.$2.35$0.18$2.18$2.26$0.59$1.67
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.62$0.11$0.51$0.47$0.36$0.11
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.41$0.01$0.39$0.48$0.31$0.16
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.27$0.04$0.23$0.55$0.62$0.07
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.31$0.02$0.30$0.58$0.74$0.15
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.47$0.02$0.45$0.52$0.81$0.29
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.76$0.02$0.74$0.39$0.59$0.20
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.94$0.00$0.94$0.47$0.52$0.05
2015Detailed filing. Detailed filing data is available for this year.$1.00$0.01$0.99$1.19$0.32$0.87
2014Detailed filing. Detailed filing data is available for this year.$0.14$0.01$0.12$0.24$0.24$0.00
2013Summary only. Only limited summary data is available for this year.$0.13$0.01$0.16$0.16$0.00