Civic Intelligence

Promise Academy Spring Hill Inc

990 • Fiscal year 2016 • EIN 46-4445628

Jul 01, 2015 to Jun 30, 2016 • Filed on May 10, 2017

Organization ProfilePROMISEACADEMY.COM
1346 Bryan StreetMemphis, TN 38108

(901) 324-4456

Siviq Scores

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

Liabilities / Assets

81st percentile

0.55x

Higher debt load relative to assets than 81% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

61st percentile

0.19x

Higher debt load relative to revenue than 61% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

63rd percentile

6.8%

Higher net margin than 63% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

97th percentile

143%

Faster asset growth than 97% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

79th percentile

24%

Faster revenue growth than 79% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$710,125

Up $417,652 (+143%) from 2015

Net Assets

Up

$317,436

Up $142,691 (+82%) from 2015

Liabilities

Up

$392,689

Up $274,961 (+234%) from 2015

Revenue And Expenses
Liabilities / Revenue61st percentileNet Margin63rd percentile

Revenue

Up

$2,097,536

Up $402,132 (+24%) from 2015

Expenses

Up

$1,954,845

Up $434,186 (+29%) from 2015

Net Income

Down

$142,691

Down $32,054 (-18%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2015: $292,473Liabilities 2015: $117,728Net Assets 2015: $174,7452015Assets 2016: $710,125Liabilities 2016: $392,689Net Assets 2016: $317,4362016Assets 2017: $612,538Liabilities 2017: $306,419Net Assets 2017: $306,1192017Assets 2018: $836,179Liabilities 2018: $390,522Net Assets 2018: $445,6572018Assets 2019: $856,829Liabilities 2019: $337,679Net Assets 2019: $519,1502019Assets 2020: $1,806,843Liabilities 2020: $1,022,553Net Assets 2020: $784,2902020Assets 2021: $1,900,909Liabilities 2021: $531,065Net Assets 2021: $1,369,8442021Assets 2022: $2,943,439Liabilities 2022: $1,314,613Net Assets 2022: $1,628,8262022Assets 2023: $2,457,230Liabilities 2023: $484,589Net Assets 2023: $1,972,6412023Assets 2024: $2,628,338Liabilities 2024: $370,983Net Assets 2024: $2,257,3552024Assets 2025: $3,221,810Liabilities 2025: $867,097Net Assets 2025: $2,354,7132025

Highlighted filing

2016

Assets$710,125
Liabilities$392,689
Net Assets$317,436
Open 2016 Filing

Operations Trend

Revenue Growth79th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2015: $1,695,404Expenses 2015: $1,520,659Net Income 2015: $174,7452015Revenue 2016: $2,097,536Expenses 2016: $1,954,845Net Income 2016: $142,6912016Revenue 2017: $2,833,180Expenses 2017: $2,844,497Net Income 2017: -$11,3172017Revenue 2018: $3,752,712Expenses 2018: $3,613,174Net Income 2018: $139,5382018Revenue 2019: $4,672,171Expenses 2019: $4,598,678Net Income 2019: $73,4932019Revenue 2020: $4,677,678Expenses 2020: $4,412,538Net Income 2020: $265,1402020Revenue 2021: $5,000,726Expenses 2021: $4,415,172Net Income 2021: $585,5542021Revenue 2022: $6,059,655Expenses 2022: $5,800,673Net Income 2022: $258,9822022Revenue 2023: $6,141,045Expenses 2023: $6,047,957Net Income 2023: $93,0882023Revenue 2024: $6,143,121Expenses 2024: $6,106,092Net Income 2024: $37,0292024Revenue 2025: $6,731,688Expenses 2025: $6,665,435Net Income 2025: $66,2532025

Highlighted filing

2016

Revenue$2,097,536
Expenses$1,954,845
Net Income$142,691
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 10, 2017
Return Version
2015v3.0
Gross Receipts
$2,097,874
Mission and Program Overview

Mission

Our central and only work is to teach and inspire the mind, body and spirit of our children so that they can succeed in any academic or cultural setting. Promise academy is committed to preparing children to excel in the nation's most rigorous schools.

Our purpose is to teach and inspire the mind, body, and spirit of our children so that they can succeed in any academic or cultural setting.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$182,237$233,743▲ $51,506
Prepaid Expenses and Deferred Charges$3,257$223,041▲ $219,784
Cash and Non-Interest-Bearing Accounts$71,943$185,211▲ $113,268
Land, Buildings, and Equipment, Net$35,036$68,130▲ $33,094
Total Assets$292,473$710,125▲ $417,652
Liabilities
Accounts Payable and Accrued Expenses$117,728$392,689▲ $274,961
Total Liabilities$117,728$392,689▲ $274,961
Net Assets / Fund Balance
Unrestricted Net Assets$136,452$204,584▲ $68,132
Temporarily Rstr Net Assets$35,036$108,423▲ $73,387
Permanently Rstr Net Assets$3,257$4,429▲ $1,172
Total Net Assets Fund Balance$174,745$317,436▲ $142,691
Total Liabilities and Net Assets / Fund Balance$292,473$710,125▲ $417,652

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$68,130$39,036$107,166
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Charles C GerberPresident and Chairman
Carol RussellDirector
Diana BurtonDirector
Dr Russell WiggingtonDirector
Emily WoodsideDirector
Father Colenzo HubbardDirector
J Lewis WardlawDirector
Jamal MccallDirector
Johny MooreDirector
Mary GarrisonDirector
Patricia Emory-walkerDirector
Mary CornpropstAssistant Treasurer
Grady GarrisonSecretary
R Andrew TaylorTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,071,478
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$26,058
All Other Contributions
$200,550
Change in Net Assets
$142,691

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,097,536
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$774
Total Revenue per Audited Statements
$2,098,310
Total Revenue per Form 990
$2,097,536
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,026,210
Other Expenses$928,635
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$693,526$231,176-$924,702
Fees for Services Other$301,556$147,392-$448,948
Occupancy$104,805$18,495-$123,300
Insurance$59,044$19,681-$78,725
Payroll Taxes$56,143$18,715-$74,858
All Other Expenses$27,152$7,233-$34,385
Pension Plan Contributions$19,988$6,662-$26,650
Depreciation Depletion$24,541--$24,541
Other Expenses$21,548$16,883-$21,548
Fees for Services Accounting-$19,088-$19,088
Office Expenses$4,128$1,031-$5,159
Advertising$3,998--$3,998
Total Functional Expenses$1,468,489$486,356$0$1,954,845

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,955,183
Expenses per Audited Statements$1,954,845
Total Expenses per Form 990$1,954,845
Expenses Not Reported on Form 990$338
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$338
Fundraising Gross Income$338
Professional Fundraising Fees$0
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
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
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 A, Line 2

“Charles gerber & andy taylor are business partners. Mary garrison is grady garrison's spouse. Mary cornpropst is the cfo of gerber taylor associates, inc.”

Form 990, Part VI, Section B, Line 11

“The finance committee presents the form 990 to the board of directors for review at a monthly meeting.”

Form 990, Part VI, Section B, Line 12C

“Grady garrison, the board attorney, monitors this at monthly meetings.”

Form 990, Part VI, Section B, Line 15

“Compensation is based on comparable salaries in the area.”

Form 990, Part VI, Section C, Line 19

“UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Promise Academy Spring Hill Inc
EIN
46-4445628
Phone
9013244456
Address
1346 BRYAN STREET, MEMPHIS, TN 38108

Signing Officer

Name
R Andrew Taylor
Title
Treasurer
Phone
9013244456
Signed
2017-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Charles C Gerber
Formed
2014
Legal Domicile
Tn
Voting Board Members
14
Independent Board Members
14
Employees
27
Volunteers
20

Preparer

Firm
Elliott Davis Decosimo LLC Pllc
Address
1000 RIDGEWAY LOOP SUITE 402, MEMPHIS, TN 38120
Preparer
Kevin D Mcadams CPA
Phone
9016838899
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Other professional fees: program service expenses 301,556. Management and general expenses 147,392. Fundraising expenses 0. Total expenses 448,948.”

FORM 990, PART XII, LINE 2C:

“There was no change from the prior year.”

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Fundraising expenses 338.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Fundraising expenses 338.”

Raw XML AppendixShowing 400 of 508 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/LandBldgEquipCostOrOtherBssAmt0107166
IRS990/LegalDomicileStateCd0TN
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0OUR CENTRAL WORK IS TO TEACH AND INSPIRE THE MIND, BODY AND SPIRIT OF OUR CHILDREN SO THAT THEY CAN RISE ABOVE THE REST AND SUCCEED IN ANY ACADEMIC AND CULTURAL SETTING.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0174745
IRS990/NetAssetsOrFundBalancesEOYAmt0317436
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt018495
IRS990/OccupancyGrp/ProgramServicesAmt0104805
IRS990/OccupancyGrp/TotalAmt0123300
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01031
IRS990/OfficeExpensesGrp/ProgramServicesAmt04128
IRS990/OfficeExpensesGrp/TotalAmt05159
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0SCHOOL SUPPLIES
IRS990/OtherExpensesGrp/Desc1TEXTBOOKS
IRS990/OtherExpensesGrp/Desc2CONTRACT INSTRUCTORS
IRS990/OtherExpensesGrp/Desc3STUDENT ACTIVITIES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt016883
IRS990/OtherExpensesGrp/ProgramServicesAmt067531
IRS990/OtherExpensesGrp/ProgramServicesAmt144660
IRS990/OtherExpensesGrp/ProgramServicesAmt239869
IRS990/OtherExpensesGrp/ProgramServicesAmt321548
IRS990/OtherExpensesGrp/TotalAmt084414
IRS990/OtherExpensesGrp/TotalAmt144660
IRS990/OtherExpensesGrp/TotalAmt239869
IRS990/OtherExpensesGrp/TotalAmt321548
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0OTHER INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt026058
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt026058
IRS990/OtherRevenueTotalAmt026058
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0231176
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0693526
IRS990/OtherSalariesAndWagesGrp/TotalAmt0924702
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt018715
IRS990/PayrollTaxesGrp/ProgramServicesAmt056143
IRS990/PayrollTaxesGrp/TotalAmt074858
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt06662
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt019988
IRS990/PensionPlanContributionsGrp/TotalAmt026650
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt03257
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt04429
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt03257
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0223041
IRS990/PrincipalOfficerNm0CHARLES C GERBER
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01680355
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0691089
IRS990/PYOtherRevenueAmt015049
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0174745
IRS990/PYSalariesCompEmpBnftPaidAmt0829570
IRS990/PYTotalExpensesAmt01520659
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01695404
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0142691
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt026058
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/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt068130
IRS990ScheduleD/EquipmentGrp/DepreciationAmt039036
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0107166
IRS990ScheduleD/ExpensesNotReportedAmt0338
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01954845
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0436
IRS990ScheduleD/OtherExpensesIncludedAmt0338
IRS990ScheduleD/OtherRevenueAmt0338
IRS990ScheduleD/RevenueNotReportedAmt0774
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt02097536
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FUNDRAISING EXPENSES 338.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FUNDRAISING EXPENSES 338.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt068130
IRS990ScheduleD/TotalExpensesPerForm990Amt01954845
IRS990ScheduleD/TotalRevenuePerForm990Amt02097536
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02098310
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01955183
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd00
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0PROMISE ACADEMY SPRING HILL INC IS NOT A PRIVATE SCHOOL. IT IS A PUBLIC CHARTER SCHOOL AND ACCEPTS STUDENTS OF ALL RACES.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1PROMISE ACADEMY SPRING HILL INC IS NOT A PRIVATE SCHOOL. IT IS A PUBLIC CHARTER SCHOOL. NO FEES ARE CHARGED; NO SCHOLARSHIPS NEEDED.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2THE SCHOOL RECEIVES FUNDS FROM SHELBY COUNTY SCHOOLS AND THE STATE OF TENNESSEE BASED ON A PER-PUPIL ALLOCATION; THE SCHOOL ALSO RECEIVES FEDERAL TITLE I FUNDING THAT PROVIDES FINANCIAL ASSISTANCE TO LOW INCOME AREA SCHOOLS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0CHARLES GERBER & ANDY TAYLOR ARE BUSINESS PARTNERS. MARY GARRISON IS GRADY GARRISON'S SPOUSE. MARY CORNPROPST IS THE CFO OF GERBER TAYLOR ASSOCIATES, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FINANCE COMMITTEE PRESENTS THE FORM 990 TO THE BOARD OF DIRECTORS FOR REVIEW AT A MONTHLY MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GRADY GARRISON, THE BOARD ATTORNEY, MONITORS THIS AT MONTHLY MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION IS BASED ON COMPARABLE SALARIES IN THE AREA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 301,556. MANAGEMENT AND GENERAL EXPENSES 147,392. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 448,948.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THERE WAS NO CHANGE FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0PROMISE ACADEMY INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0201608155
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0TN

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$710,125
Liabilities
$392,689
Net assets
$317,436
Revenue
$2,097,536
Expenses
$1,954,845
Net income
$142,691
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$3.22$0.87$2.35$6.73$6.67$0.07
2024Detailed filing. Detailed filing data is available for this year.$2.63$0.37$2.26$6.14$6.11$0.04
2023Detailed filing. Detailed filing data is available for this year.$2.46$0.48$1.97$6.14$6.05$0.09
2022Detailed filing. Detailed filing data is available for this year.$2.94$1.31$1.63$6.06$5.80$0.26
2021Detailed filing. Detailed filing data is available for this year.$1.90$0.53$1.37$5.00$4.42$0.59
2020Detailed filing. Detailed filing data is available for this year.$1.81$1.02$0.78$4.68$4.41$0.27
2019Detailed filing. Detailed filing data is available for this year.$0.86$0.34$0.52$4.67$4.60$0.07
2018Detailed filing. Detailed filing data is available for this year.$0.84$0.39$0.45$3.75$3.61$0.14
2017Detailed filing. Detailed filing data is available for this year.$0.61$0.31$0.31$2.83$2.84$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.71$0.39$0.32$2.10$1.95$0.14
2015Detailed filing. Detailed filing data is available for this year.$0.29$0.12$0.17$1.70$1.52$0.17