Civic Intelligence

Promise Academy Spring Hill Inc

990 • Fiscal year 2017 • EIN 46-4445628

Jul 01, 2016 to Jun 30, 2017 • Filed on May 14, 2018

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

80th percentile

0.50x

Higher debt load relative to assets than 80% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

52nd percentile

0.11x

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

38th percentile

-0.4%

Higher net margin than 38% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

76th percentile

$119,790

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 4.2% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

9th percentile

-14%

Faster asset growth than 9% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

82nd percentile

35%

Faster revenue growth than 82% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets80th percentile

Assets

Down

$612,538

Down $97,587 (-14%) from 2016

Net Assets

Down

$306,119

Down $11,317 (-3.6%) from 2016

Liabilities

Down

$306,419

Down $86,270 (-22%) from 2016

Revenue And Expenses
Liabilities / Revenue52nd percentileNet Margin38th percentile

Revenue

Up

$2,833,180

Up $735,644 (+35%) from 2016

Expenses

Up

$2,844,497

Up $889,652 (+46%) from 2016

Net Income

Down

-$11,317

Down $154,008 (-108%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth9th 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

2017

Assets$612,538
Liabilities$306,419
Net Assets$306,119
Open 2017 Filing

Operations Trend

Revenue Growth82nd 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

2017

Revenue$2,833,180
Expenses$2,844,497
Net Income-$11,317
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 14, 2018
Return Version
2016v3.0
Gross Receipts
$2,838,642
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$233,743$191,718▼ $42,025
Cash and Non-Interest-Bearing Accounts$185,211$110,769▼ $74,442
Land, Buildings, and Equipment, Net$68,130$96,634▲ $28,504
Pledges and Grants Receivable-$42,555-
Prepaid Expenses and Deferred Charges$4,429$13,100▲ $8,671
Loans From Officers Directors$10,525$10,739▲ $214
Total Assets$710,125$612,538▼ $97,587
Other Assets Total$218,612$157,762▼ $60,850
Liabilities
Accounts Payable and Accrued Expenses$203,845$224,921▲ $21,076
Other Liabilities$178,319$70,759▼ $107,560
Total Liabilities$392,689$306,419▼ $86,270
Net Assets / Fund Balance
Unrestricted Net Assets$204,584$166,929▼ $37,655
Temporarily Rstr Net Assets$108,423$126,090▲ $17,667
Permanently Rstr Net Assets$4,429$13,100▲ $8,671
Total Net Assets Fund Balance$317,436$306,119▼ $11,317
Total Liabilities and Net Assets / Fund Balance$710,125$612,538▼ $97,587

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$96,634$78,100$174,734
Other Assets Org$157,762--
Compensation and Service Providers
Top Officer Pay76th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Kiasi MalonePrincipal-pa Hollywood-$119,790$119,790
Thomas a BeazleyExecutive DirectorPT$115,506$115,506
Beth BaileyDirector of Finance & OperationsPT$97,938$97,938

Board Members and Trustees

NameTitle
charles C GerberpRESIDENT
Diana Burtondirector
Emily Woodsidedirector
Father Colenzo Hubbarddirector
J LEWIS WARDLaWDirector
Johnny Mooredirector
Mary GarrisonDirector
carol russelldirector
dr russell wiggingtondirector
patricia emory-walkerdirector
Mary CornpropstAssistant Treasurer
Grady GarrisonSecretary
R Andrew TaylorTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$453,721
Program Service Revenue
$2,355,445
Investment Income
$0
Other Revenue
$24,014
All Other Contributions
$286,463
Change in Net Assets
$-11,317

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,833,180
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$5,462
Total Revenue per Audited Statements
$2,838,642
Total Revenue per Form 990
$2,833,180
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,484,831
Salaries, Compensation, and Employee Benefits$1,359,666
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$975,886$243,972-$1,219,858
Fees for Services Other$632,558$19,123-$651,681
Occupancy$249,426$44,017-$293,443
Insurance$87,806$15,495-$103,301
Payroll Taxes$74,445$24,814-$99,259
All Other Expenses$66,944$3,125-$70,069
Other Expenses$45,123$13,136-$45,123
Pension Plan Contributions$32,439$8,110-$40,549
Depreciation Depletion$39,064--$39,064
Office Expenses$11,302$12,267-$23,569
Advertising-$6,761-$6,761
Travel$2,719$907-$3,626
Total Functional Expenses$2,452,770$391,727$0$2,844,497

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,849,959
Expenses per Audited Statements$2,844,497
Total Expenses per Form 990$2,844,497
Expenses Not Reported on Form 990$5,462
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 Gross Income$8,316
Fundraising Direct Expenses$5,462
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
Loans from Officers, Directors, Trustees, and Key Employees$10,525$10,739▲ $214
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Net Pension Liability$70,759
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 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 11B

“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
Mary Cornpropst
Title
ASST. treasurer
Phone
9013244456
Signed
2018-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Charles C Gerber
Formed
2014
Legal Domicile
Tn
Voting Board Members
13
Independent Board Members
13
Employees
34
Volunteers
20

Preparer

Firm
Cbiz Mhm LLC
Address
5100 Poplar Avenue Thirtieth Floor, Memphis, TN 38137
Preparer
Kathy Pennella
Phone
9016855575
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

“other professional fees: Program service expenses 563,006. Management and general expenses 19,123. Fundraising expenses 0. Total expenses 582,129. TRANSPORTATION FEES: Program service expenses 69,552. Management and general expenses 0. Fundraising expenses 0. Total expenses 69,552.”

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 5,462.”

Part XII, Line 2D - Other Adjustments:

“fundraising expenses 5,462.”

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IRS990/Form990PartVIISectionAGrp/PersonNm4MARY CORNPROPST
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IRS990/Form990PartVIISectionAGrp/PersonNm8Mary Garrison
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IRS990/Form990PartVIISectionAGrp/TitleTxt0TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt1pRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt3director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Assistant Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt5director
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IRS990/Form990PartVIISectionAGrp/TitleTxt10director
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IRS990/Form990PartVIISectionAGrp/TitleTxt12director
IRS990/Form990PartVIISectionAGrp/TitleTxt13EXECUTIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director of Finance & Operations
IRS990/Form990PartVIISectionAGrp/TitleTxt15PRINCIPAL-PA HOLLYWOOD
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/FormationYr02014
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/FundraisingDirectExpensesAmt05462
IRS990/FundraisingGrossIncomeAmt08316
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt013
IRS990/GovernmentGrantsAmt0167258
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt02838642
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt013
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt015495
IRS990/InsuranceGrp/ProgramServicesAmt087806
IRS990/InsuranceGrp/TotalAmt0103301
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt018
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt078100
IRS990/LandBldgEquipBasisNetGrp/BOYAmt068130
IRS990/LandBldgEquipBasisNetGrp/EOYAmt096634
IRS990/LandBldgEquipCostOrOtherBssAmt0174734
IRS990/LegalDomicileStateCd0TN
IRS990/LoanOutstandingInd01
IRS990/LoansFromOfficersDirectorsGrp/BOYAmt010525
IRS990/LoansFromOfficersDirectorsGrp/EOYAmt010739
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/NetAssetsOrFundBalancesBOYAmt0317436
IRS990/NetAssetsOrFundBalancesEOYAmt0306119
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt02854
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt02854
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt044017
IRS990/OccupancyGrp/ProgramServicesAmt0249426
IRS990/OccupancyGrp/TotalAmt0293443
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt012267
IRS990/OfficeExpensesGrp/ProgramServicesAmt011302
IRS990/OfficeExpensesGrp/TotalAmt023569
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0218612
IRS990/OtherAssetsTotalGrp/EOYAmt0157762
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0textbooks
IRS990/OtherExpensesGrp/Desc1SPECIAL EDUCATION SERVI
IRS990/OtherExpensesGrp/Desc2school supplies
IRS990/OtherExpensesGrp/Desc3contract instructors
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt013136
IRS990/OtherExpensesGrp/ProgramServicesAmt0102865
IRS990/OtherExpensesGrp/ProgramServicesAmt179649
IRS990/OtherExpensesGrp/ProgramServicesAmt252544
IRS990/OtherExpensesGrp/ProgramServicesAmt345123
IRS990/OtherExpensesGrp/TotalAmt0102865
IRS990/OtherExpensesGrp/TotalAmt179649
IRS990/OtherExpensesGrp/TotalAmt265680
IRS990/OtherExpensesGrp/TotalAmt345123
IRS990/OtherLiabilitiesGrp/BOYAmt0178319
IRS990/OtherLiabilitiesGrp/EOYAmt070759
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0other income
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt021160
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt021160
IRS990/OtherRevenueTotalAmt021160
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0243972
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0975886
IRS990/OtherSalariesAndWagesGrp/TotalAmt01219858
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt024814
IRS990/PayrollTaxesGrp/ProgramServicesAmt074445
IRS990/PayrollTaxesGrp/TotalAmt099259
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt08110
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt032439
IRS990/PensionPlanContributionsGrp/TotalAmt040549
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt04429
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt013100
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt042555
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt04429
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt013100
IRS990/PrincipalOfficerNm0CHARLES C GERBER
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611600
IRS990/ProgramServiceRevenueGrp/Desc0PER PUPIL ALLOCATION
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt02355445
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02355445
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt02071478
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0928635
IRS990/PYOtherRevenueAmt026058
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0142691
IRS990/PYSalariesCompEmpBnftPaidAmt01026210
IRS990/PYTotalExpensesAmt01954845
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02097536
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-11317
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02376605
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/BookValueAmt096634
IRS990ScheduleD/EquipmentGrp/DepreciationAmt078100
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0174734
IRS990ScheduleD/ExpensesNotReportedAmt05462
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt02844497
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0157762
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0NET PENSION ASSET
IRS990ScheduleD/OtherExpensesIncludedAmt05462
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt070759
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NET PENSION LIABILITY
IRS990ScheduleD/OtherRevenueAmt05462
IRS990ScheduleD/RevenueNotReportedAmt05462
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt02833180
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0fundraising expenses 5,462.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1fundraising expenses 5,462.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part XI, Line 2d - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XII, Line 2d - Other Adjustments:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt096634
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0157762
IRS990ScheduleD/TotalExpensesPerForm990Amt02844497
IRS990ScheduleD/TotalLiabilityAmt070759
IRS990ScheduleD/TotalRevenuePerForm990Amt02833180
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02838642
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02849959
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 THE ACHIEVEMENT SCHOOL DISTRICT AND THE STATE OF TENNESSEE BASED ON A PER-PUPIL ALLOCATION; THE SCHOOL ALSO RECEIVES FEDERAL TITLE I AND TITLE II FUNDING THAT PROVIDES FINANCIAL ASSISTANCE TO LOW INCOME AREA SCHOOLS; THE SCHOOL RECEIVES IDEA FUNDING FOR THE EDUCATION OF CHILDREN WITH DISABILITIES.

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$612,538
Liabilities
$306,419
Net assets
$306,119
Revenue
$2,833,180
Expenses
$2,844,497
Net income
-$11,317
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