Civic Intelligence

Promise Prep Inc

EIN 84-4553687 • 501(c)3 • Indianapolis, IN

Profile

Promise prep's mission is to ensure all students, regardless of their family's income, race, or zip code, have access to a high-quality education that enables them to become critical thinkers, have choices, capitalize on opportunities, and secure continuing economic advancement to positively impact their community.

4330 N Post RdIndianapolis, IN 46226

promiseprepindy.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2022

Liabilities / Revenue

20th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

60th percentile

9.4%

Higher net margin than 60% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

74th percentile

$120,000

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 7.6% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

2nd percentile

-100%

Faster asset growth than 2% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

94th percentile

156%

Faster revenue growth than 94% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $641,445 (-100%) from 2021

Liabilities

Down

$0

Down $375,338 (-100%) from 2021

Net Assets

Down

$0

Down $266,107 (-100%) from 2021

Operations
Liabilities / Revenue20th percentileNet Margin60th percentile

Revenue

Up

$1,572,628

Up $958,973 (+156%) from 2021

Expenses

Up

$1,424,015

Up $948,131 (+199%) from 2021

Net Income

Up

$148,613

Up $10,842 (+7.9%) from 2021

Trend Graphs

Balance Sheet Trend

Asset Growth2nd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$800K$600K$400K$200K$0Assets 2020: $128,336Liabilities 2020: $0Net Assets 2020: $128,3362020Assets 2021: $641,445Liabilities 2021: $375,338Net Assets 2021: $266,1072021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2022

Assets$0
Liabilities$0
Net Assets$0
Open 2022 Filing

Operations Trend

Revenue Growth94th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.5M$1.0M$500K$0Revenue 2020: $128,336Expenses 2020: $0Net Income 2020: $128,3362020Revenue 2021: $613,655Expenses 2021: $475,884Net Income 2021: $137,7712021Revenue 2022: $1,572,628Expenses 2022: $1,424,015Net Income 2022: $148,6132022

Highlighted filing

2022

Revenue$1,572,628
Expenses$1,424,015
Net Income$148,613
Open 2022 Filing

Filings

Most recent year

2022 • Form 990XML pending. An XML filing is linked for this year, but detailed extraction is still pending.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$1,572,628
Expenses
$1,424,015
Net income
$148,613
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$1.57$1.42$0.15
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.64$0.38$0.27$0.61$0.48$0.14
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.13$0.00$0.13$0.13$0.00$0.13
Latest Detailed Filing

The latest 2022 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2021 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 10, 2022
Return Version
2020v4.2
Gross Receipts
$613,655
Mission and Program Overview

Mission

Promise prep's mission is to ensure all students, regardless of their family's income, race, or zip code, have access to a high-quality education that enables them to become critical thinkers, have choices, capitalize on opportunities, and secure continuing economic advancement to positively impact their community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$127,286$619,757▲ $492,471
Accounts Receivable$1,050$21,688▲ $20,638
Total Assets$128,336$641,445▲ $513,109
Liabilities
Deferred Revenue-$375,000-
Accounts Payable and Accrued Expenses-$338-
Total Liabilities$0$375,338▲ $375,338
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$128,336$266,107▲ $137,771
Total Net Assets Fund Balance$128,336$266,107▲ $137,771
Total Liabilities and Net Assets / Fund Balance$128,336$641,445▲ $513,109
Compensation and Service Providers
Top Officer Pay74th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Geoffrey FenelusExecutive DirectorFT$60,000$60,000

Board Members and Trustees

NameTitle
Adam MilakofskyBoard Member
Gloria KingBoard Member
Julian HarrellBoard Member
Mycheal SpencerBoard Member
Susan AppelBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$604,893
Program Service Revenue
$0
Investment Income
$87
Other Revenue
$8,675
Change in Net Assets
$137,771
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$287,018
Other Expenses$188,866
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$248,550-$248,550
Fees for Services Other$58,286$23,158-$81,444
Occupancy$33,333--$33,333
Advertising$30,519--$30,519
Other Employee Benefits-$19,704-$19,704
Payroll Taxes-$18,764-$18,764
Fees for Services Accounting-$15,200-$15,200
Information Technology-$12,237-$12,237
Insurance$4,698--$4,698
All Other Expenses$1,164$593-$1,757
Other Expenses$2,365$1,039-$1,039
Total Functional Expenses$133,969$341,915$0$475,884
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
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
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 B, Line 11B

“Each board member receives a copy of the return prior to filing and provides feedback to cpa if any changes are necessary. Return is not filed until approved by board.”

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

“Through our oei pre opening checklist. Throughout accountablity check in with a third party financial vendor.”

Form 990, Part VI, Section B, Line 15

“Board of governors hire the executive director. Executive director has a rigorous process in hiring key staff members.”

Form 990, Part VI, Section C, Line 19

“Office of education and innovation public hold documents on their website.”

Filing and Contact Details

Filer

Filer Name
Promise Prep Inc
EIN
84-4553687
Phone
3477520044
Address
4330 N POST RD, INDIANAPOLIS, IN 46226

Signing Officer

Name
Geoffrey Fenelus
Title
Executive Director
Phone
3477520044
Signed
2022-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Geoffrey Fenelus
Formed
2019
Legal Domicile
In
Voting Board Members
5
Independent Board Members
5
Employees
3
Volunteers
10

Preparer

Firm
Donovan Pc
Address
5151 E US HWY 36, AVON, IN 46123
Preparer
Jeffrey M Donovan CPA Cva Maff
Phone
3177456411
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Professional services: program service expenses 58,286. Management and general expenses 23,158. Fundraising expenses 0. Total expenses 81,444.”

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
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IRS990/BooksInCareOfDetail/USAddress/CityNm0INDIANAPOLIS
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0IN
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IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
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IRS990/Form990ProvidedToGvrnBodyInd01
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IRS990/FSAuditedInd00
IRS990/FundraisingActivitiesInd00
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IRS990/GoverningBodyVotingMembersCnt05
IRS990/GovernmentGrantsAmt0604893
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0613655
IRS990/GroupReturnForAffiliatesInd00
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IRS990/IndivRcvdGreaterThan100KCnt00
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IRS990/MissionDesc0PROMISE PREP'S MISSION IS TO ENSURE ALL STUDENTS, REGARDLESS OF THEIR FAMILY'S INCOME, RACE, OR ZIP CODE, HAVE ACCESS TO A HIGH-QUALITY EDUCATION THAT ENABLES THEM TO BECOME CRITICAL THINKERS, HAVE CHOICES, CAPITALIZE ON OPPORTUNITIES, AND SECURE CONTINUING ECONOMIC ADVANCEMENT TO POSITIVELY IMPACT THEIR COMMUNITY.
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IRS990/OtherExpensesGrp/Desc2PAYROLL SERVICES
IRS990/OtherExpensesGrp/Desc3DUES AND SUBSCRIPTIONS
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL DOES NOT CURRENTLY HAVE A NONDISCRIMINATORY POLICY BUT IS WORKING ON ONE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL IS STILL IN THE DEVELOPMENT PHASE. ONCE THE SCHOOL OPENS, IT WILL MAINTAIN ALL APPROPRIATE RECORDS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION IS STILL IN THE DEVELOPMENT PHASE. ONCE THE SCHOOL OPENS, IT WILL MAINTAIN ALL APPROPRIATE COMPLIANCES.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE E, PART I, LINE 7
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EACH BOARD MEMBER RECEIVES A COPY OF THE RETURN PRIOR TO FILING AND PROVIDES FEEDBACK TO CPA IF ANY CHANGES ARE NECESSARY. RETURN IS NOT FILED UNTIL APPROVED BY BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THROUGH OUR OEI PRE OPENING CHECKLIST. THROUGHOUT ACCOUNTABLITY CHECK IN WITH A THIRD PARTY FINANCIAL VENDOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD OF GOVERNORS HIRE THE EXECUTIVE DIRECTOR. EXECUTIVE DIRECTOR HAS A RIGOROUS PROCESS IN HIRING KEY STAFF MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3OFFICE OF EDUCATION AND INNOVATION PUBLIC HOLD DOCUMENTS ON THEIR WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 58,286. MANAGEMENT AND GENERAL EXPENSES 23,158. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 81,444.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
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IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsEOYAmt0641445
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IRS990/TotalAssetsGrp/EOYAmt0641445
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0604893
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0341915
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0133969
IRS990/TotalFunctionalExpensesGrp/TotalAmt0475884
IRS990/TotalGrossUBIAmt08675
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt0375338
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt0375338
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0128336
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0266107
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0133969
IRS990/TotalReportableCompFromOrgAmt060000
IRS990/TotalRevenueGrp/ExclusionAmt087
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0613655
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt08675
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0128336
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0641445
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04330 N POST RD
IRS990/USAddress/CityNm0INDIANAPOLIS
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd046226
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0PROMISEPREPINDY.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0GEOFFREY FENELUS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03477520044
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PROMISE PREP INC
ReturnHeader/Filer/BusinessNameControlTxt0PROM
ReturnHeader/Filer/EIN0844553687
ReturnHeader/Filer/PhoneNum03477520044
ReturnHeader/Filer/USAddress/AddressLine1Txt04330 N POST RD
ReturnHeader/Filer/USAddress/CityNm0INDIANAPOLIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd046226
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0351356555
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DONOVAN PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05151 E US HWY 36
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0AVON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd046123
ReturnHeader/PreparerPersonGrp/PhoneNum03177456411
ReturnHeader/PreparerPersonGrp/PreparationDt02022-05-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEFFREY M DONOVAN CPA CVA MAFF
ReturnHeader/ReturnTs02022-05-13T12:42:21-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0GEOFFREY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0FENELUS
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

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