Civic Intelligence

Promise Academy

990 • Fiscal year 2014 • EIN 76-0789317

Jul 01, 2013 to Jun 30, 2014 • Filed on Jan 20, 2015

Organization ProfileWWW.PROMISE-ACADEMY.COM
1701 East 13th Street44114

(216) 443-0500

Siviq Scores

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

Liabilities / Assets

14th percentile

0.00x

Higher debt load relative to assets than 14% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

13th percentile

0.00x

Higher debt load relative to revenue than 13% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

21st percentile

-8.9%

Higher net margin than 21% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

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

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

6th percentile

-20%

Faster asset growth than 6% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

40th percentile

0.5%

Faster revenue growth than 40% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2012 to 2014

Balance Sheet
Liabilities / Assets14th percentile

Assets

Down

$1,215,779

Down $304,906 (-20%) from 2013

Net Assets

Down

$1,215,388

Down $304,240 (-20%) from 2013

Liabilities

Down

$391

Down $666 (-63%) from 2013

Revenue And Expenses
Liabilities / Revenue13th percentileNet Margin21st percentile

Revenue

$3,406,598

No earlier filing loaded for comparison.

Expenses

Up

$3,710,838

Up $72,501 (+2.0%) from 2013

Net Income

-$304,240

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth6th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2011: $1,680,095Liabilities 2011: $1,546Net Assets 2011: $1,678,5492011Assets 2012: $1,321,577Liabilities 2012: $7,392Net Assets 2012: $1,314,1852012Assets 2013: $1,520,685Liabilities 2013: $1,057Net Assets 2013: $1,519,6282013Assets 2014: $1,215,779Liabilities 2014: $391Net Assets 2014: $1,215,3882014Assets 2015: $1,025,787Liabilities 2015: $565,868Net Assets 2015: $459,9192015Assets 2016: $649,536Liabilities 2016: $117,480Net Assets 2016: $532,0562016Assets 2017: $1,307,320Liabilities 2017: $1,106,716Net Assets 2017: $200,6042017Assets 2018: $1,709,863Liabilities 2018: $1,316,034Net Assets 2018: $393,8292018Assets 2019: $1,193,705Liabilities 2019: $657,434Net Assets 2019: $536,2712019Assets 2020: $2,186,066Liabilities 2020: $1,988,203Net Assets 2020: $197,8632020Assets 2021: $1,907,031Liabilities 2021: $2,157,967Net Assets 2021: -$250,9362021Assets 2022: $1,616,922Liabilities 2022: $2,273,345Net Assets 2022: -$656,4232022Assets 2023: $1,135,924Liabilities 2023: $2,045,780Net Assets 2023: -$909,8562023Assets 2024: $1,894,944Liabilities 2024: $2,815,219Net Assets 2024: -$920,2752024

Highlighted filing

2014

Assets$1,215,779
Liabilities$391
Net Assets$1,215,388
Open 2014 Filing

Operations Trend

Revenue Growth40th percentile

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

$4.0M$2.0M$0-$2.0MExpenses 2011: $2,679,0532011Revenue 2012: $3,373,635Expenses 2012: $3,737,999Net Income 2012: -$364,3642012Expenses 2013: $3,638,3372013Revenue 2014: $3,406,598Expenses 2014: $3,710,838Net Income 2014: -$304,2402014Revenue 2015: $2,824,473Expenses 2015: $3,579,942Net Income 2015: -$755,4692015Revenue 2016: $3,386,276Expenses 2016: $3,314,139Net Income 2016: $72,1372016Revenue 2017: $2,435,443Expenses 2017: $2,766,895Net Income 2017: -$331,4522017Revenue 2018: $2,776,369Expenses 2018: $2,563,010Net Income 2018: $213,3592018Revenue 2019: $1,981,970Expenses 2019: $1,839,528Net Income 2019: $142,4422019Revenue 2020: $1,637,887Expenses 2020: $1,976,295Net Income 2020: -$338,4082020Revenue 2021: $1,485,068Expenses 2021: $1,933,867Net Income 2021: -$448,7992021Revenue 2022: $1,317,874Expenses 2022: $1,723,361Net Income 2022: -$405,4872022Revenue 2023: $1,291,191Expenses 2023: $1,544,624Net Income 2023: -$253,4332023Revenue 2024: $1,706,003Expenses 2024: $1,716,422Net Income 2024: -$10,4192024

Highlighted filing

2014

Revenue$3,406,598
Expenses$3,710,838
Net Income-$304,240
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Jan 20, 2015
Return Version
2013v4.0
Gross Receipts
$3,406,598
Mission and Program Overview

Mission

Promise Academy recognizes that all students have the right to and deserve an education that prepares them for post-secondary success of their choosing. We educate and graduate students who have not been successful in traditional high school and have dropped out or are at risk of dropping out. We do this through flexible and individualized learning experiences supported by meaningful relationships with caring adults who are constantly learning from students and exemplifying high engagement learning for students.

The faculty and staff at promise academy are dedicated to the concepts of innovation, excellence, academic achievement, and opportunity for all students regardless of life circumstances.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$679,770$601,609▼ $78,161
Land, Buildings, and Equipment, Net$585,618$467,847▼ $117,771
Accounts Receivable$255,297$146,323▼ $108,974
Total Assets$1,520,685$1,215,779▼ $304,906
Liabilities
Accounts Payable and Accrued Expenses$1,057$391▼ $666
Total Liabilities$1,057$391▼ $666
Net Assets / Fund Balance
Unrestricted Net Assets$1,519,628$1,215,388▼ $304,240
Total Net Assets Fund Balance$1,519,628$1,215,388▼ $304,240
Total Liabilities and Net Assets / Fund Balance$1,520,685$1,215,779▼ $304,906

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$467,127$331,387$798,514
Equipment$720$10,775$11,495
Compensation and Service Providers
Top Officer Pay34th percentile

Board Members and Trustees

NameTitle
Cheryl NeylonPresident
Cynthia MorganBoard Member
Harriet BonnerBoard Member
James TribbleBoard Member
Lisa Farmer-coleBoard Member
Terry ButlerBoard Member
Christine Fowler-mackVice Preside

Highest Paid Contractors

ContractorServicesLocationCompensation
Cleveland Metropolitan School DistFin Mgmt Serv-$2,513,124
The Rockwell CoRent-$297,866
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,405,666
Investment Income
$932
Other Revenue
$0
Change in Net Assets
$-304,240
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,710,838
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$2,238,460$164,877-$2,403,337
Occupancy$439,237$77,512-$516,749
Fees for Services Management-$171,030-$171,030
Depreciation Depletion$100,105$17,666-$117,771
All Other Expenses$36,301$46,407-$82,708
Other Expenses$35,513$39,946-$39,946
Information Technology-$22,525-$22,525
Insurance-$19,432-$19,432
Travel-$8,365-$8,365
Total Functional Expenses$3,045,182$665,656$0$3,710,838
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
No
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
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, Page 6, Part VI, Line 11B

“A copy of the form 990 is provided to the board.”

Form 990, Page 6, Part VI, Line 12C

“The board monitors compliance with the conflict of interest policy through discussion at regularly scheduled board meetings.”

Form 990, Page 6, Part VI, Line 19

“Documents are available upon request.”

Filing and Contact Details

Filer

EIN
76-0789317
Phone
2164430500

Signing Officer

Name
Melinda Budavari
Title
Treasurer
Phone
2164430500
Signed
2015-01-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Melinda Budavari
Formed
2007
Legal Domicile
Oh
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
7

Preparer

Preparer
Christopher J Gambaccini CPA
Phone
4402433400
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Instruction & staff services 2,238,460 0 0 other prof & tech 0 164,877 0”

Raw XML Appendix353 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.

Path#Value
IRS990/AccountantCompileOrReviewInd0true
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt01057
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt0391
IRS990/AccountsReceivableGrp/BOYAmt0255297
IRS990/AccountsReceivableGrp/EOYAmt0146323
IRS990/AcctCompileOrReviewBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0THE FACULTY AND STAFF AT PROMISE ACADEMY ARE DEDICATED TO THE CONCEPTS OF INNOVATION, EXCELLENCE, ACADEMIC ACHIEVEMENT, AND OPPORTUNITY FOR ALL STUDENTS REGARDLESS OF LIFE CIRCUMSTANCES.
IRS990/AllOtherExpensesGrp/ManagementAndGeneralAmt046407
IRS990/AllOtherExpensesGrp/ProgramServicesAmt036301
IRS990/AllOtherExpensesGrp/TotalAmt082708
IRS990/AnnualDisclosureCoveredPrsnInd0true
IRS990/AuditCommitteeInd0false
IRS990/BackupWthldComplianceInd0true
IRS990/BooksInCareOfDetail/PersonNm0MELINDA BUDAVARI
IRS990/BooksInCareOfDetail/PhoneNum02164430502
IRS990/BooksInCareOfDetail/USAddress/AddressLine101701 EAST 13TH ST
IRS990/BooksInCareOfDetail/USAddress/City0CLEVELAND
IRS990/BooksInCareOfDetail/USAddress/State0OH
IRS990/BooksInCareOfDetail/USAddress/ZIPCode044114
IRS990/BusinessRlnWithFamMemInd0false
IRS990/BusinessRlnWithOfficerEntInd0false
IRS990/BusinessRlnWithOrgMemInd0false
IRS990/CashNonInterestBearingGrp/BOYAmt0679770
IRS990/CashNonInterestBearingGrp/EOYAmt0601609
IRS990/ChangeToOrgDocumentsInd0false
IRS990/CntrctRcvdGreaterThan100KCnt02
IRS990/CollectionsOfArtInd0false
IRS990/CompensationFromOtherSrcsInd0false
IRS990/CompensationProcessCEOInd0false
IRS990/CompensationProcessOtherInd0false
IRS990/ConflictOfInterestPolicyInd0true
IRS990/ConservationEasementsInd0false
IRS990/ConsolidatedAuditFinclStmtInd0false
IRS990/ContractorCompensationGrp/CompensationAmt02513124
IRS990/ContractorCompensationGrp/CompensationAmt1297866
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine101380 EAST 6TH ST
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1155 ERIEVIEW PLAZA
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/City0CLEVELAND
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/City1CLEVELAND
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/State0OH
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/State1OH
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCode044114
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCode144114
IRS990/ContractorCompensationGrp/ContractorName/PersonNm0CLEVELAND METROPOLITAN SCHOOL DIST
IRS990/ContractorCompensationGrp/ContractorName/PersonNm1THE ROCKWELL CO
IRS990/ContractorCompensationGrp/ServicesDesc0FIN MGMT SERV
IRS990/ContractorCompensationGrp/ServicesDesc1RENT
IRS990/CreditCounselingInd0false
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt00
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt0932
IRS990/CYOtherExpensesAmt03710838
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt03405666
IRS990/CYRevenuesLessExpensesAmt0-304240
IRS990/CYSalariesCompEmpBnftPaidAmt00
IRS990/CYTotalExpensesAmt03710838
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt03406598
IRS990/DecisionsSubjectToApprovaInd0false
IRS990/DeductibleArtContributionInd0false
IRS990/DeductibleNonCashContriInd0false
IRS990/DelegationOfMgmtDutiesInd0false
IRS990/DepreciationDepletionGrp/ManagementAndGeneralAmt017666
IRS990/DepreciationDepletionGrp/ProgramServicesAmt0100105
IRS990/DepreciationDepletionGrp/TotalAmt0117771
IRS990/Desc0PROMISE ACADEMY IS A CLEVELAND METROPOLITAN SCHOOL DISTRICT SPONSORED CHARTER SCHOOL PROVIDING A HIGH QUALITY EDUCATION FOR NON-TRADITIONAL STUDENTS IN GRADES NINE THROUGH TWELVE. PROMISE ACADEMY IS DEDICATED TO THE CONCEPTS OF INNOVATION, EXCELLENCE, ACADEMIC ACHIEVEMENT, AND OPPORTUNITY FOR ALL STUDENTS REGARDLESS OF LIFE CIRCUMSTANCE. CENTRAL TO ITS MISSION IS THE CREATION OF A SCHOOL COMMUNITY CHARACTERIZED BY CARING, DISCIPLINE, ORDER, AND RESPECT. THE ACADEMY CURRENTLY ENROLLS APPROXIMATELY 370 STUDENTS.
IRS990/DescribedInSection501c3Ind0true
IRS990/DisregardedEntityInd0false
IRS990/DocumentRetentionPolicyInd0true
IRS990/DonorAdvisedFundInd0false
IRS990/ElectionOfBoardMembersInd0false
IRS990/EmployeeCnt00
IRS990/EngagedInExcessBenefitTransInd0false
IRS990/ExpenseAmt03045182
IRS990/FamilyOrBusinessRlnInd0false
IRS990/FeesForServicesManagementGrp/ManagementAndGeneralAmt0171030
IRS990/FeesForServicesManagementGrp/TotalAmt0171030
IRS990/FeesForServicesOtherGrp/ManagementAndGeneralAmt0164877
IRS990/FeesForServicesOtherGrp/ProgramServicesAmt02238460
IRS990/FeesForServicesOtherGrp/TotalAmt02403337
IRS990/ForeignActivitiesInd0false
IRS990/ForeignFinancialAccountInd0false
IRS990/ForeignOfficeInd0false
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt02.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt12.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt22.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt32.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt42.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt52.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt62.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/PersonNm0HARRIET BONNER
IRS990/Form990PartVIISectionAGrp/PersonNm1CYNTHIA MORGAN
IRS990/Form990PartVIISectionAGrp/PersonNm2LISA FARMER-COLE
IRS990/Form990PartVIISectionAGrp/PersonNm3TERRY BUTLER
IRS990/Form990PartVIISectionAGrp/PersonNm4JAMES TRIBBLE
IRS990/Form990PartVIISectionAGrp/PersonNm5CHERYL NEYLON
IRS990/Form990PartVIISectionAGrp/PersonNm6CHRISTINE FOWLER-MACK
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt6VICE PRESIDE
IRS990/Form990ProvidedToGvrnBodyInd0false
IRS990/FormationYr02007
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedInd0false
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt07
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt03406598
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt07
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt022525
IRS990/InformationTechnologyGrp/TotalAmt022525
IRS990/InsuranceGrp/ManagementAndGeneralAmt019432
IRS990/InsuranceGrp/TotalAmt019432
IRS990/InvestmentIncomeGrp/ExclusionAmt0932
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0932
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt019
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0342162
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0585618
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0467847
IRS990/LandBldgEquipCostOrOtherBssAmt0810009
IRS990/LegalDomicileStateCd0OH
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0THE FACULTY AND STAFF AT PROMISE ACADEMY ARE DEDICATED TO THE CONCEPTS OF INNOVATION, EXCELLENCE, ACADEMIC ACHIEVEMENT, AND OPPORTUNITY FOR ALL STUDENTS REGARDLESS OF LIFE CIRCUMSTANCES.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt01519628
IRS990/NetAssetsOrFundBalancesEOYAmt01215388
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt077512
IRS990/OccupancyGrp/ProgramServicesAmt0439237
IRS990/OccupancyGrp/TotalAmt0516749
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherExpensesGrp/Desc0CLASSROOM MATERIALS
IRS990/OtherExpensesGrp/Desc1DUES & FEES
IRS990/OtherExpensesGrp/Desc2OTHER PURCHASED SERVICES
IRS990/OtherExpensesGrp/Desc3COMMUNICATIONS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt091629
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt16267
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt239946
IRS990/OtherExpensesGrp/ProgramServicesAmt0195566
IRS990/OtherExpensesGrp/ProgramServicesAmt135513
IRS990/OtherExpensesGrp/TotalAmt0195566
IRS990/OtherExpensesGrp/TotalAmt191629
IRS990/OtherExpensesGrp/TotalAmt241780
IRS990/OtherExpensesGrp/TotalAmt339946
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0MELINDA BUDAVARI
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0FOUNDATION PAYMENTS
IRS990/ProgramServiceRevenueGrp/Desc1INTERGOVERNMENTAL REV
IRS990/ProgramServiceRevenueGrp/Desc2OTHER PROGRAM SERVICE REV
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt03033092
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1351643
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt220931
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt03033092
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1351643
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt220931
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt01407
IRS990/PYOtherExpensesAmt03638337
IRS990/PYProgramServiceRevenueAmt03842373
IRS990/PYRevenuesLessExpensesAmt0205443
IRS990/PYTotalExpensesAmt03638337
IRS990/PYTotalRevenueAmt03843780
IRS990/ReconcilationRevenueExpnssAmt0-304240
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt03054023
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt0720
IRS990ScheduleD/EquipmentGrp/DepreciationAmt010775
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt011495
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0467127
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0331387
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0798514
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0467847
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE NONDISCRIMINATORY POLICY IS POSTED ON THE ACADEMY'S WEBSITE. THE STUDENT ENROLLMENT AT THE ACADEMY IS 97% MINORITY.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1STATE FUNDING IS RECEIVED FOR SCHOOL OPERATIONS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE FORM 990 IS PROVIDED TO THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD MONITORS COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY THROUGH DISCUSSION AT REGULARLY SCHEDULED BOARD MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3INSTRUCTION & STAFF SERVICES 2,238,460 0 0 OTHER PROF & TECH 0 164,877 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01520685
IRS990/TotalAssetsEOYAmt01215779
IRS990/TotalAssetsGrp/BOYAmt01520685
IRS990/TotalAssetsGrp/EOYAmt01215779
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0665656
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03045182
IRS990/TotalFunctionalExpensesGrp/TotalAmt03710838
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01057
IRS990/TotalLiabilitiesEOYAmt0391
IRS990/TotalLiabilitiesGrp/BOYAmt01057
IRS990/TotalLiabilitiesGrp/EOYAmt0391
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01519628
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01215388
IRS990/TotalProgramServiceExpensesAmt03045182
IRS990/TotalProgramServiceRevenueAmt03405666
IRS990/TotalRevenueGrp/ExclusionAmt0932
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03405666
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03406598
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01520685
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01215779
IRS990/TravelGrp/ManagementAndGeneralAmt08365
IRS990/TravelGrp/TotalAmt08365
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01519628
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01215388
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine101701 EAST 13TH STREET
IRS990/USAddress/City0CLEVELAND
IRS990/USAddress/State0OH
IRS990/USAddress/ZIPCode044114
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.PROMISE-ACADEMY.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MELINDA BUDAVARI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum02164430500
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-01-20
ReturnHeader/Filer/BusinessName/BusinessNameLine10PROMISE ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0PROM
ReturnHeader/Filer/EIN0760789317
ReturnHeader/Filer/PhoneNum02164430500
ReturnHeader/Filer/USAddress/AddressLine101701 EAST 13TH STREET
ReturnHeader/Filer/USAddress/City0CLEVELAND
ReturnHeader/Filer/USAddress/State0OH
ReturnHeader/Filer/USAddress/ZIPCode044114
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0341639529
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10MCMANUS DOSEN & CO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine107251 ENGLE RD STE 406
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0MIDDLEBURG HEIGHTS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode0441303400
ReturnHeader/PreparerPersonGrp/PhoneNum04402433400
ReturnHeader/PreparerPersonGrp/PreparationDt02015-01-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHRISTOPHER J GAMBACCINI CPA
ReturnHeader/ReturnTs02015-01-30T12:53:22-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-07-01
ReturnHeader/TaxPeriodEndDt02014-06-30
ReturnHeader/TaxYr02013

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,215,779
Liabilities
$391
Net assets
$1,215,388
Revenue
$3,406,598
Expenses
$3,710,838
Net income
-$304,240
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.89$2.82$0.92$1.71$1.72$0.01
2023Detailed filing. Detailed filing data is available for this year.$1.14$2.05$0.91$1.29$1.54$0.25
2022Detailed filing. Detailed filing data is available for this year.$1.62$2.27$0.66$1.32$1.72$0.41
2021Detailed filing. Detailed filing data is available for this year.$1.91$2.16$0.25$1.49$1.93$0.45
2020Detailed filing. Detailed filing data is available for this year.$2.19$1.99$0.20$1.64$1.98$0.34
2019Detailed filing. Detailed filing data is available for this year.$1.19$0.66$0.54$1.98$1.84$0.14
2018Detailed filing. Detailed filing data is available for this year.$1.71$1.32$0.39$2.78$2.56$0.21
2017Summary only. Only limited summary data is available for this year.$1.31$1.11$0.20$2.44$2.77$0.33
2016Summary only. Only limited summary data is available for this year.$0.65$0.12$0.53$3.39$3.31$0.07
2015Summary only. Only limited summary data is available for this year.$1.03$0.57$0.46$2.82$3.58$0.76
2014Detailed filing. Detailed filing data is available for this year.$1.22$0.00$1.22$3.41$3.71$0.30
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.52$0.00$1.52$3.64
2012Summary only. Only limited summary data is available for this year.$1.32$0.01$1.31$3.37$3.74$0.36
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.68$0.00$1.68$2.68