Civic Intelligence

Promise Education Cooperative Inc

990EZ • Fiscal year 2017 • EIN 82-1088422

Jan 01, 2017 to Dec 31, 2017 • Filed on May 30, 2018

1355 Waco DriveHuntington, IN 46750

(260) 409-3334

Siviq Scores

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

Liabilities / Assets

85th percentile

0.28x

Higher debt load relative to assets than 85% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

74th percentile

0.04x

Higher debt load relative to revenue than 74% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

62nd percentile

9.3%

Higher net margin than 62% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

81st percentile

$14,921

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 69.0% of source-year revenue.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Assets

$2,793

No earlier filing loaded for comparison.

Net Assets

$2,007

No earlier filing loaded for comparison.

Liabilities

$786

No earlier filing loaded for comparison.

Revenue

$21,619

No earlier filing loaded for comparison.

Expenses

$19,612

No earlier filing loaded for comparison.

Net Income

$2,007

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$3.0K$2.0K$1.0K$0Assets 2017: $2,793Liabilities 2017: $786Net Assets 2017: $2,0072017Assets 2018: $0Net Assets 2018: $02018

Highlighted filing

2017

Assets$2,793
Liabilities$786
Net Assets$2,007

Operations Trend

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

$40K$30K$20K$10K$0-$10KRevenue 2017: $21,619Expenses 2017: $19,612Net Income 2017: $2,0072017Revenue 2018: $31,002Expenses 2018: $33,007Net Income 2018: -$2,0052018

Highlighted filing

2017

Revenue$21,619
Expenses$19,612
Net Income$2,007
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 30, 2018
Return Version
2017v2.3
Gross Receipts
$21,619
Mission and Program Overview

Mission

The purpose of the corporation will be a home school cooperative. For middle school and high school students, promise education cooperative (pec) provides a strong core education in math, science, english, and history with individualized instruction in the core subjects and electives according to the students individual learning styles. Students and parents will experience motivation, encouragement, and qualified instruction in a faith-based, supportive, peaceful community that allows the students to grow socially and academically. Pec will thrive and grow through constant addition of new students and parents, outside donation, fundraising, and tuition to be a long-term, self-sustaining organization. Pec strives to influence young people to be godly, honest, inspired, and capable in order to be well-rounded and community-minded individuals.

Program Services

DescriptionGrantsExpenses
PROMISE EDUCATION COOPERATIVE PROVIDES AN ATMOSPHERE FOR LEARNING FOR MIDDLE AND HIGH SCHOOL HOMESCHOOL STUDENTS. THE PAID INSTRUCTOR TAUGHT THE 4 CORE CLASSES OF HISTORY, SCIENCE, ENGLISH AND MATH WHILE ALSO ALLOWING A MEETING SPACE FOR PARENT-LED ELECTIVE CLASSES. PROMISE EDUCATION COOPERATIVE PROVIDED BENEFIT TO 8 STUDENTS THIS YEAR.-$14,921
STUDENTS AND PARENTS WILL EXPERIENCE MOTIVATION, ENCOURAGEMENT, AND QUALIFIED INSTRUCTION IN A FAITH-BASED, SUPPORTIVE, PEACEFUL COMMUNITY THAT ALLOWS THE STUDENTS TO GROW SOCIALLY AND ACADEMICALLY.--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
GARY LENNBoard MemberFT$14,921-$14,921
KAREN RICEPresidentPT$0--
KRISTA ANDERSONSecretaryPT$0--
CHARLOTTE MISTY SAVAGETreasurerPT$0--
TIMOTHY SAVAGEBoard Member-$0--
Filing and Contact Details

Filer

Filer Name
Promise Education Cooperative Inc
EIN
82-1088422
Phone
2604093334
Address
1355 WACO DRIVE, HUNTINGTON, IN 46750

Signing Officer

Name
Charlotte Misty Savage
Title
Treasurer
Phone
2604093334
Signed
2018-05-30
Discuss with paid preparer
Yes

Preparer

Firm
Mccann Advisors LLC
Address
PO BOX 18, WABASH, IN 46992-0018
Preparer
Paul Mccann CPA
Phone
2605682068
Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 16

Expenses 254 710 total 964

Form 990-ez, Part II, Line 26

Payroll liabilities 0 786

Form 990-ez, Part III

The purpose of the corporation will be a home school cooperative. For middle school and high school students, promise education cooperative (pec) provides a strong core education in math, science, english, and history with individualized instruction in the core subjects and electives according to the students individual learning styles. Students and parents will experience motivation, encouragement, and qualified instruction in a faith-based, supportive, peaceful community that allows the students to grow socially and academically. Pec will thrive and grow through constant addition of new students and parents, outside donation, fundraising, and tuition to be a long-term, self-sustaining organization. Pec strives to influence young people to be godly, honest, inspired, and capable in order to be well-rounded and community-minded individuals.

Form 990-ez, Part III, Line 31

Promise education cooperative provides an atmosphere for learning for middle and high school homeschool students. The paid instructor taught the 4 core classes of history, science, english and math while also allowing a meeting space for parent-led elective classes. Promise education cooperative provided benefit to 8 students this year.

Raw XML Appendix133 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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IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt1PROMISE EDUCATION COOPERATIVE PROVIDES AN ATMOSPHERE FOR LEARNING FOR MIDDLE AND HIGH SCHOOL HOMESCHOOL STUDENTS. THE PAID INSTRUCTOR TAUGHT THE 4 CORE CLASSES OF HISTORY, SCIENCE, ENGLISH AND MATH WHILE ALSO ALLOWING A MEETING SPACE FOR PARENT-LED ELECTIVE CLASSES. PROMISE EDUCATION COOPERATIVE PROVIDED BENEFIT TO 8 STUDENTS THIS YEAR.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EXPENSES 254 710 TOTAL 964
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PAYROLL LIABILITIES 0 786
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE PURPOSE OF THE CORPORATION WILL BE A HOME SCHOOL COOPERATIVE. FOR MIDDLE SCHOOL AND HIGH SCHOOL STUDENTS, PROMISE EDUCATION COOPERATIVE (PEC) PROVIDES A STRONG CORE EDUCATION IN MATH, SCIENCE, ENGLISH, AND HISTORY WITH INDIVIDUALIZED INSTRUCTION IN THE CORE SUBJECTS AND ELECTIVES ACCORDING TO THE STUDENTS INDIVIDUAL LEARNING STYLES. STUDENTS AND PARENTS WILL EXPERIENCE MOTIVATION, ENCOURAGEMENT, AND QUALIFIED INSTRUCTION IN A FAITH-BASED, SUPPORTIVE, PEACEFUL COMMUNITY THAT ALLOWS THE STUDENTS TO GROW SOCIALLY AND ACADEMICALLY. PEC WILL THRIVE AND GROW THROUGH CONSTANT ADDITION OF NEW STUDENTS AND PARENTS, OUTSIDE DONATION, FUNDRAISING, AND TUITION TO BE A LONG-TERM, SELF-SUSTAINING ORGANIZATION. PEC STRIVES TO INFLUENCE YOUNG PEOPLE TO BE GODLY, HONEST, INSPIRED, AND CAPABLE IN ORDER TO BE WELL-ROUNDED AND COMMUNITY-MINDED INDIVIDUALS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PROMISE EDUCATION COOPERATIVE PROVIDES AN ATMOSPHERE FOR LEARNING FOR MIDDLE AND HIGH SCHOOL HOMESCHOOL STUDENTS. THE PAID INSTRUCTOR TAUGHT THE 4 CORE CLASSES OF HISTORY, SCIENCE, ENGLISH AND MATH WHILE ALSO ALLOWING A MEETING SPACE FOR PARENT-LED ELECTIVE CLASSES. PROMISE EDUCATION COOPERATIVE PROVIDED BENEFIT TO 8 STUDENTS THIS YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990-EZ, PART I, LINE 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990-EZ, PART II, LINE 26
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990-EZ, PART III
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990-EZ, PART III, LINE 31
ReturnHeader/BuildTS02018-06-14 16:35:46Z
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ReturnHeader/Filer/EIN0821088422
ReturnHeader/Filer/PhoneNum02604093334
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0469920018
ReturnHeader/PreparerPersonGrp/PhoneNum02605682068
ReturnHeader/PreparerPersonGrp/PreparationDt02018-05-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PAUL MCCANN CPA
ReturnHeader/ReturnTs02018-06-18T12:57:53-05:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

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Filings