Civic Intelligence

Providence Promise

990 • Fiscal year 2019 • EIN 47-1918920

Jul 01, 2018 to Jun 30, 2019 • Filed on Nov 08, 2019

Organization ProfileWWW.PVDPROMISE.ORG
Two Regency Plaza No 4Providence, RI 02903

(401) 421-4007

Siviq Scores

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

Liabilities / Assets

71st percentile

0.03x

Higher debt load relative to assets than 71% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

65th percentile

0.01x

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

37th percentile

-1.1%

Higher net margin than 37% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

94th percentile

$59,044

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 29.4% of source-year revenue.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

16th percentile

-29%

Faster asset growth than 16% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

25th percentile

-19%

Faster revenue growth than 25% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets71st percentile

Assets

Down

$61,471

Down $25,336 (-29%) from 2018

Net Assets

Down

$59,528

Down $2,254 (-3.6%) from 2018

Liabilities

Down

$1,943

Down $23,082 (-92%) from 2018

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin37th percentile

Revenue

Down

$200,800

Down $48,089 (-19%) from 2018

Expenses

Down

$203,052

Down $72,270 (-26%) from 2018

Net Income

Up

-$2,252

Up $24,181 (+91%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth16th percentile

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

$800K$600K$400K$200K$0Assets 2015: $42,718Liabilities 2015: $30,430Net Assets 2015: $12,2882015Assets 2016: $46,060Liabilities 2016: $8,878Net Assets 2016: $37,1822016Assets 2017: $98,638Liabilities 2017: $10,423Net Assets 2017: $88,2152017Assets 2018: $86,807Liabilities 2018: $25,025Net Assets 2018: $61,7822018Assets 2019: $61,471Liabilities 2019: $1,943Net Assets 2019: $59,5282019Assets 2020: $139,057Liabilities 2020: $27,800Net Assets 2020: $111,2572020Assets 2021: $240,350Liabilities 2021: $865Net Assets 2021: $239,4852021Assets 2022: $403,115Liabilities 2022: $17,840Net Assets 2022: $385,2752022Assets 2023: $688,834Liabilities 2023: $296,334Net Assets 2023: $392,5002023Assets 2024: $482,135Liabilities 2024: $259,950Net Assets 2024: $222,1852024Assets 2025: $560,099Liabilities 2025: $398,582Net Assets 2025: $161,5172025

Highlighted filing

2019

Assets$61,471
Liabilities$1,943
Net Assets$59,528
Open 2019 Filing

Operations Trend

Revenue Growth25th percentile

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

$1.0M$500K$0-$500KRevenue 2015: $60,132Expenses 2015: $47,844Net Income 2015: $12,2882015Revenue 2016: $77,593Expenses 2016: $52,700Net Income 2016: $24,8932016Revenue 2017: $176,232Expenses 2017: $125,199Net Income 2017: $51,0332017Revenue 2018: $248,889Expenses 2018: $275,322Net Income 2018: -$26,4332018Revenue 2019: $200,800Expenses 2019: $203,052Net Income 2019: -$2,2522019Revenue 2020: $241,447Expenses 2020: $189,718Net Income 2020: $51,7292020Revenue 2021: $452,764Expenses 2021: $324,536Net Income 2021: $128,2282021Revenue 2022: $631,702Expenses 2022: $485,912Net Income 2022: $145,7902022Revenue 2023: $819,387Expenses 2023: $812,162Net Income 2023: $7,2252023Revenue 2024: $811,416Expenses 2024: $982,916Net Income 2024: -$171,5002024Revenue 2025: $783,915Expenses 2025: $855,447Net Income 2025: -$71,5322025

Highlighted filing

2019

Revenue$200,800
Expenses$203,052
Net Income-$2,252
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Nov 8, 2019
Return Version
2018v3.1
Gross Receipts
$200,800
Mission and Program Overview

Mission

Providence promise promotes high educational aspirations and more equitable opportunities for providence public school students by advocating for college savings accounts and family engagement, increasing financial literacy, and reducing the financial burden of higher education.

Provide a financial assistance program to providence, rhode island public school students for post-secondary education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$84,972$50,454▼ $34,518
Accounts Receivable-$10,000-
Land, Buildings, and Equipment, Net$1,835$1,017▼ $818
Total Assets$86,807$61,471▼ $25,336
Liabilities
Accounts Payable and Accrued Expenses$25,025$1,943▼ $23,082
Total Liabilities$25,025$1,943▼ $23,082
Net Assets / Fund Balance
Unrestricted Net Assets$61,782$59,528▼ $2,254
Total Net Assets Fund Balance$61,782$59,528▼ $2,254
Total Liabilities and Net Assets / Fund Balance$86,807$61,471▼ $25,336

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,017$1,437$2,454
Compensation and Service Providers
Top Officer Pay94th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Madalyn CiampiDirector of Operation and SecretaryFT$59,044$59,044

Board Members and Trustees

NameTitle
Dan BaudouinChairman
Edward D FeldsteinDirector
Janice DruDirector
Jim VincentDirector
Kayla RosenDirector
Kenneth WongDirector
Leonela FelixDirector
Richard LappinDirector
Richard SpiesDirector
Torrell MolaDirector
Yeirys VinasDirector
Joseph P Dipina JrTreasurer/director
Revenue and Support

Revenue Composition

Contributions and Grants
$200,800
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$200,800
Change in Net Assets
$-2,252
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$133,469
Other Expenses$69,583
Total Fundraising Expense$37,532
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$45,760$11,980$16,313$74,053
Current Officers, Directors, Trustees, and Key Employees$25,388$13,848$6,924$46,160
Fees for Services Other$1,050$8,208$11,733$20,991
Fees for Services Management$12,900--$12,900
Office Expenses-$10,913-$10,913
Payroll Taxes$6,752$397$2,205$9,354
Other Employee Benefits$1,093$2,452$357$3,902
Depreciation Depletion-$818-$818
Other Expenses$23,300$661-$661
Total Functional Expenses$116,243$49,277$37,532$203,052
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
No
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 11B

“A copy of the 990 is reviewed by the board of directors before it is filed.”

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

“The conflict of interest policy is reviewed annually by all directors and each director signs a conflict disclosure certification annually.”

Form 990, Part VI, Section C, Line 19

“All governing documents, conflict of interest policy and financial statements are available upon request made to the organizations address.”

Filing and Contact Details

Filer

Filer Name
Providence Promise
EIN
47-1918920
Phone
4014214007
Address
TWO REGENCY PLAZA NO 4, PROVIDENCE, RI 02903

Signing Officer

Name
Daniel Baudouin
Title
Chairman
Phone
4014214007
Signed
2019-11-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Daniel Baudouin
Formed
2014
Legal Domicile
Ri
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
0

Preparer

Firm
Marcum Llp
Address
53 STATE STREET, BOSTON, MA 02109
Preparer
Stephen Gilman
Phone
6178075000
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Actuary: program service expenses 1,050. Management and general expenses 8,208. Fundraising expenses 11,733. Total expenses 20,991.”

FORM 990, PART XII, LINE 2C:

“The board of directors assumes responsibility for oversight of the compilation of its financial statements and selection of an independent accountant.”

Raw XML AppendixShowing 400 of 428 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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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0763646
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt0582297
IRS990ScheduleA/SubstantialContributorsTotAmt0181349
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0200800
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0248889
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0176232
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt077593
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt060132
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0763646
IRS990ScheduleA/TotalSupportAmt0763646
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/OtherLandBuildingsGrp/BookValueAmt01017
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt01437
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt02454
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01017
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE 990 IS REVIEWED BY THE BOARD OF DIRECTORS BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY BY ALL DIRECTORS AND EACH DIRECTOR SIGNS A CONFLICT DISCLOSURE CERTIFICATION ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST MADE TO THE ORGANIZATIONS ADDRESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ACTUARY: PROGRAM SERVICE EXPENSES 1,050. MANAGEMENT AND GENERAL EXPENSES 8,208. FUNDRAISING EXPENSES 11,733. TOTAL EXPENSES 20,991.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD OF DIRECTORS ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE COMPILATION OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0042806263
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0S
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0RI
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0REAL ESTATE DEVELOPMENT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0LISCO DEVELOPMENT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt012 BASSETT ST
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0PROVIDENCE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0RI
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd002903
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt050796
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FAIR VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0LISCO DEVELOPMENT
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0O
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt086807
IRS990/TotalAssetsEOYAmt061471
IRS990/TotalAssetsGrp/BOYAmt086807
IRS990/TotalAssetsGrp/EOYAmt061471
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0200800
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt037532
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt049277
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0116243
IRS990/TotalFunctionalExpensesGrp/TotalAmt0203052
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt025025
IRS990/TotalLiabilitiesEOYAmt01943
IRS990/TotalLiabilitiesGrp/BOYAmt025025
IRS990/TotalLiabilitiesGrp/EOYAmt01943
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt061782
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt059528
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0116243
IRS990/TotalReportableCompFromOrgAmt059044
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0200800
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt086807
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt061471
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt061782
IRS990/UnrestrictedNetAssetsGrp/EOYAmt059528
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0TWO REGENCY PLAZA NO 4
IRS990/USAddress/CityNm0PROVIDENCE
IRS990/USAddress/StateAbbreviationCd0RI
IRS990/USAddress/ZIPCd002903
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0WWW.PVDPROMISE.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02020-03-31 21:24:44Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DANIEL BAUDOUIN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum04014214007
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-11-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PROVIDENCE PROMISE

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$61,471
Liabilities
$1,943
Net assets
$59,528
Revenue
$200,800
Expenses
$203,052
Net income
-$2,252
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$5.60$3.99$1.62$7.84$8.55$0.72
2024Detailed filing. Detailed filing data is available for this year.$4.82$2.60$2.22$8.11$9.83$1.72
2023Detailed filing. Detailed filing data is available for this year.$6.89$2.96$3.93$8.19$8.12$0.07
2022Detailed filing. Detailed filing data is available for this year.$4.03$0.18$3.85$6.32$4.86$1.46
2021Detailed filing. Detailed filing data is available for this year.$2.40$0.01$2.39$4.53$3.25$1.28
2020Detailed filing. Detailed filing data is available for this year.$1.39$0.28$1.11$2.41$1.90$0.52
2019Detailed filing. Detailed filing data is available for this year.$0.61$0.02$0.60$2.01$2.03$0.02
2018Detailed filing. Detailed filing data is available for this year.$0.87$0.25$0.62$2.49$2.75$0.26
2017Summary only. Only limited summary data is available for this year.$0.99$0.10$0.88$1.76$1.25$0.51
2016Detailed filing. Detailed filing data is available for this year.$0.46$0.09$0.37$0.78$0.53$0.25
2015Detailed filing. Detailed filing data is available for this year.$0.43$0.30$0.12$0.60$0.48$0.12