Civic Intelligence

American Promise Schools

990 • Fiscal year 2020 • EIN 46-4341453

Jul 01, 2019 to Jun 30, 2020 • Filed on Jan 04, 2021

15000 TrojanDetroit, MI 48235

(313) 462-2252

Siviq Scores

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

Liabilities / Assets

87th percentile

0.82x

Higher debt load relative to assets than 87% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

65th percentile

0.37x

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

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

48th percentile

3.6%

Higher net margin than 48% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

59th percentile

$142,032

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 2.2% of source-year revenue.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

96th percentile

146%

Faster asset growth than 96% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

81st percentile

28%

Faster revenue growth than 81% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Assets

Up

$2,985,429

Up $1,772,467 (+146%) from 2019

Net Assets

Up

$551,235

Up $232,241 (+73%) from 2019

Liabilities

Up

$2,434,194

Up $1,540,226 (+172%) from 2019

Revenue

Up

$6,505,752

Up $1,416,132 (+28%) from 2019

Expenses

Up

$6,273,511

Up $860,666 (+16%) from 2019

Net Income

Up

$232,241

Up $555,466 (+172%) from 2019

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2014: $524,948Liabilities 2014: $313,268Net Assets 2014: $211,6802014Assets 2015: $1,776,326Liabilities 2015: $1,271,846Net Assets 2015: $504,4802015Assets 2016: $1,538,968Liabilities 2016: $1,187,387Net Assets 2016: $351,5812016Assets 2017: $1,601,315Liabilities 2017: $1,047,536Net Assets 2017: $553,7792017Assets 2018: $1,641,348Liabilities 2018: $999,129Net Assets 2018: $642,2192018Assets 2019: $1,212,962Liabilities 2019: $893,968Net Assets 2019: $318,9942019Assets 2020: $2,985,429Liabilities 2020: $2,434,194Net Assets 2020: $551,2352020Assets 2021: $2,459,805Liabilities 2021: $832,676Net Assets 2021: $1,627,1292021Assets 2022: $2,158,911Liabilities 2022: $1,329,442Net Assets 2022: $829,4692022

Highlighted filing

2020

Assets$2,985,429
Liabilities$2,434,194
Net Assets$551,235

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2014: $774,597Expenses 2014: $645,858Net Income 2014: $128,7392014Revenue 2015: $1,630,133Expenses 2015: $1,337,333Net Income 2015: $292,8002015Revenue 2016: $5,559,442Expenses 2016: $5,712,341Net Income 2016: -$152,8992016Revenue 2017: $9,620,319Expenses 2017: $9,418,121Net Income 2017: $202,1982017Revenue 2018: $9,958,313Expenses 2018: $9,869,873Net Income 2018: $88,4402018Revenue 2019: $5,089,620Expenses 2019: $5,412,845Net Income 2019: -$323,2252019Revenue 2020: $6,505,752Expenses 2020: $6,273,511Net Income 2020: $232,2412020Revenue 2021: $7,688,968Expenses 2021: $6,613,074Net Income 2021: $1,075,8942021Revenue 2022: $4,086,969Expenses 2022: $4,884,629Net Income 2022: -$797,6602022

Highlighted filing

2020

Revenue$6,505,752
Expenses$6,273,511
Net Income$232,241
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Jan 4, 2021
Return Version
2019v5.1
Gross Receipts
$6,505,752
Mission and Program Overview

Mission

Our mission is simple make urban schools great. By great schools, we mean schools that place all students on the path to college and other post-secondary studies.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,051,555$2,810,672▲ $1,759,117
Accounts Receivable$149,845$168,457▲ $18,612
Prepaid Expenses and Deferred Charges$8,185$4,317▼ $3,868
Land, Buildings, and Equipment, Net$3,377$1,983▼ $1,394
Total Assets$1,212,962$2,985,429▲ $1,772,467
Liabilities
Other Liabilities$789,839$1,215,749▲ $425,910
Unsecured Notes Loans Payable$87,751$1,207,190▲ $1,119,439
Accounts Payable and Accrued Expenses$16,378$11,255▼ $5,123
Total Liabilities$893,968$2,434,194▲ $1,540,226
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$221,088$344,174▲ $123,086
Net Assets With Donor Restrictions$97,906$207,061▲ $109,155
Total Net Assets Fund Balance$318,994$551,235▲ $232,241
Total Liabilities and Net Assets / Fund Balance$1,212,962$2,985,429▲ $1,772,467

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,983$14,382$16,365
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Jeremy LinneChief Academic OfficerFT$142,032$142,032
Melisa HamannCEOFT$129,029$129,029
Lindsie BoykinPrincipal MacdowellFT$115,492$115,492
Tajhrid DariCFOFT$103,437$103,437
Wendie Tijuan LewisSchool PrincipalFT$101,358$101,358

Board Members and Trustees

NameTitle
Geneva WilliamsChair
Saul GreenVice Chair
Rico RazoMember
Tyrone DavenportMember
Peter WaltersTreasurer and Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$149,300
Program Service Revenue
$6,356,452
Investment Income
$0
Other Revenue
$0
All Other Contributions
$149,300
Change in Net Assets
$232,241

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,505,752
Total Revenue per Audited Statements
$6,505,752
Total Revenue per Form 990
$6,505,752
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$6,060,419
Other Expenses$213,092
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,514,794$391,396-$4,906,190
Other Employee Benefits$467,907$25,317-$493,224
Payroll Taxes$335,477$50,053-$385,530
Current Officers, Directors, Trustees, and Key Employees-$275,475-$275,475
Fees for Services Other-$80,633-$80,633
Information Technology-$35,495-$35,495
Insurance-$21,654-$21,654
Other Expenses$9,084$16,972-$16,972
Office Expenses-$9,287-$9,287
Fees for Services Accounting-$8,528-$8,528
Fees for Services Legal-$6,687-$6,687
Interest-$2,123-$2,123
Depreciation Depletion-$1,394-$1,394
Travel-$1,041-$1,041
Total Functional Expenses$5,327,262$946,249$0$6,273,511

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,273,511
Total Expenses per Audited Statements$6,273,511
Total Expenses per Form 990$6,273,511
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes$1,215,749
Fiduciary Deposits Payable-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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, Part VI, Section B, Line 11

Once the form 990 is completed by the cpa, a copy of the form is delivered electronically to each board member for review prior to filing.

Form 990, Part VI, Section B, Line 12

The organization regularily and consistently monitor and enforce compliance with regard to conflict of interest policy and request from the board members to disclose if any arise.

Form 990, Part VI, Section B, Line 15

The board of directors is responsible for reviewing the performance and compensation of the president and ceo annually.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, financial statements and conflict of interest policy available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Promise Schools
EIN
46-4341453
Phone
3134622252
Address
15000 TROJAN, DETROIT, MI 48235

Signing Officer

Name
Melissa Hamann
Title
CEO
Signed
2021-01-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Melissa Hamann
Formed
2013
Legal Domicile
Mi
Voting Board Members
5
Independent Board Members
5
Employees
135

Preparer

Firm
Gregory Terrell & Company
Address
613 ABBOTT STREET SUITE 320, DETROIT, MI 48226
Preparer
Gregory Terrell
Phone
3139650500
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2 AND 3

Promise schools contract with voyageur was discontinued in fiscal 2019 and promise schools entered into a new contract with barber preparatory academy during fiscal 2020 to provide instruction and administrative support services

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IRS990/ProgSrvcAccomActy3Grp/Desc0MACDOWELL PREPARATORY ACADEMY - INSTRUCTION AND ADMINISTRATIVE SUPPORT OF SCHOOL MANAGEMENT
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IRS990/PYOtherExpensesAmt0451092
IRS990/PYProgramServiceRevenueAmt04965033
IRS990/PYRevenuesLessExpensesAmt0-323225
IRS990/PYSalariesCompEmpBnftPaidAmt04961753
IRS990/PYTotalExpensesAmt05412845
IRS990/PYTotalRevenueAmt05089620
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IRS990/ReconcilationRevenueExpnssAmt0232241
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IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt06505752
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt05089620
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt09958313
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt09620319
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt05559442
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt036733446
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
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IRS990ScheduleA/PublicSupportCY170Pct01.00000
IRS990ScheduleA/PublicSupportCY509Pct00.00000
IRS990ScheduleA/PublicSupportTotal170Amt036733446
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt06505752
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt05089620
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt09958313
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt09620319
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt05559442
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt036733446
IRS990ScheduleA/TotalSupportAmt036733446
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/EquipmentGrp/BookValueAmt01983
IRS990ScheduleD/EquipmentGrp/DepreciationAmt014382
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt016365
IRS990ScheduleD/ExpensesSubtotalAmt06273511
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01215749
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1FIDUCIARY DEPOSITS PAYABLE
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueSubtotalAmt06505752
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01983
IRS990ScheduleD/TotalExpensesPerForm990Amt06273511
IRS990ScheduleD/TotalLiabilityAmt01215749
IRS990ScheduleD/TotalRevenuePerForm990Amt06505752
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt06505752
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt06273511
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ONCE THE FORM 990 IS COMPLETED BY THE CPA, A COPY OF THE FORM IS DELIVERED ELECTRONICALLY TO EACH BOARD MEMBER FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION REGULARILY AND CONSISTENTLY MONITOR AND ENFORCE COMPLIANCE WITH REGARD TO CONFLICT OF INTEREST POLICY AND REQUEST FROM THE BOARD MEMBERS TO DISCLOSE IF ANY ARISE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS IS RESPONSIBLE FOR REVIEWING THE PERFORMANCE AND COMPENSATION OF THE PRESIDENT AND CEO ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PROMISE SCHOOLS CONTRACT WITH VOYAGEUR WAS DISCONTINUED IN FISCAL 2019 AND PROMISE SCHOOLS ENTERED INTO A NEW CONTRACT WITH BARBER PREPARATORY ACADEMY DURING FISCAL 2020 TO PROVIDE INSTRUCTION AND ADMINISTRATIVE SUPPORT SERVICES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part III, Line 2 AND 3
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IRS990/SignificantChangeInd0true
IRS990/SignificantNewProgramSrvcInd0true
IRS990/StatesWhereCopyOfReturnIsFldCd0MI
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01212962
IRS990/TotalAssetsEOYAmt02985429
IRS990/TotalAssetsGrp/BOYAmt01212962
IRS990/TotalAssetsGrp/EOYAmt02985429
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0149300
IRS990/TotalEmployeeCnt0135
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0946249
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt05327262
IRS990/TotalFunctionalExpensesGrp/TotalAmt06273511
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0893968
IRS990/TotalLiabilitiesEOYAmt02434194
IRS990/TotalLiabilitiesGrp/BOYAmt0893968
IRS990/TotalLiabilitiesGrp/EOYAmt02434194
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0318994
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0551235
IRS990/TotalProgramServiceExpensesAmt05327262
IRS990/TotalProgramServiceRevenueAmt06356452
IRS990/TotalReportableCompFromOrgAmt0591348
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt06356452
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt06505752
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01212962
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02985429
IRS990/TravelGrp/ManagementAndGeneralAmt01041
IRS990/TravelGrp/TotalAmt01041
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt087751
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt01207190
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt015000 TROJAN
IRS990/USAddress/CityNm0DETROIT
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd048235
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.AMERICANPROMISESCHOOLS.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MELISSA HAMANN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-01-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PROMISE SCHOOLS
ReturnHeader/Filer/BusinessNameControlTxt0AMER
ReturnHeader/Filer/EIN0464341453
ReturnHeader/Filer/PhoneNum03134622252
ReturnHeader/Filer/USAddress/AddressLine1Txt015000 TROJAN
ReturnHeader/Filer/USAddress/CityNm0DETROIT
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd048235

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