Civic Intelligence

Promise Inc.

990 • Fiscal year 2014 • EIN 90-0520600

Jan 01, 2014 to Dec 31, 2014 • Filed on Sep 24, 2015

1490 Dowd Court SEPalm Bay, FL 32909

(321) 536-7062

Siviq Scores

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

Liabilities / Assets

89th percentile

0.89x

Higher debt load relative to assets than 89% of similar nonprofits.

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

Liabilities / Revenue

93rd percentile

3.43x

Higher debt load relative to revenue than 93% of similar nonprofits.

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

Net Margin

80th percentile

22%

Higher net margin than 80% of similar nonprofits.

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

Top Officer Pay

41st percentile

$40,000

Higher top officer pay than 41% of similar nonprofits.

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

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

Asset Growth

65th percentile

7.2%

Faster asset growth than 65% of similar nonprofits.

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

Revenue Growth

95th percentile

133%

Faster revenue growth than 95% of similar nonprofits.

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

Assets

Up

$2,034,441

Up $136,093 (+7.2%) from 2013

Net Assets

Up

$217,619

Up $115,909 (+114%) from 2013

Liabilities

Up

$1,816,822

Up $20,184 (+1.1%) from 2013

Revenue

Up

$529,349

Up $302,425 (+133%) from 2013

Expenses

Up

$413,440

Up $186,324 (+82%) from 2013

Net Income

Up

$115,909

Up $116,101 (+60469%) from 2013

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MAssets 2011: $4,256Liabilities 2011: $6,047Net Assets 2011: -$1,7912011Assets 2012: $147,672Liabilities 2012: $35,477Net Assets 2012: $112,1952012Assets 2013: $1,898,348Liabilities 2013: $1,796,638Net Assets 2013: $101,7102013Assets 2014: $2,034,441Liabilities 2014: $1,816,822Net Assets 2014: $217,6192014Assets 2015: $2,972,644Liabilities 2015: $2,493,177Net Assets 2015: $479,4672015Assets 2016: $2,350,767Liabilities 2016: $1,303,466Net Assets 2016: $1,047,3012016Assets 2017: $3,740,560Liabilities 2017: $2,395,822Net Assets 2017: $1,344,7382017Assets 2018: $6,048,485Liabilities 2018: $1,879,681Net Assets 2018: $4,168,8042018Assets 2019: $6,082,357Liabilities 2019: $1,614,389Net Assets 2019: $4,467,9682019Assets 2020: $6,233,813Liabilities 2020: $1,515,679Net Assets 2020: $4,718,1342020Assets 2021: $6,433,765Liabilities 2021: $1,604,592Net Assets 2021: $4,829,1732021Assets 2022: $5,412,626Liabilities 2022: $210,479Net Assets 2022: $5,202,1472022Assets 2023: $5,531,883Liabilities 2023: $88,018Net Assets 2023: $5,443,8652023Assets 2024: $5,619,299Liabilities 2024: $63,869Net Assets 2024: $5,555,4302024

Highlighted filing

2014

Assets$2,034,441
Liabilities$1,816,822
Net Assets$217,619

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $84,726Expenses 2011: $88,375Net Income 2011: -$3,6492011Expenses 2012: $110,8912012Revenue 2013: $226,924Expenses 2013: $227,116Net Income 2013: -$1922013Revenue 2014: $529,349Expenses 2014: $413,440Net Income 2014: $115,9092014Revenue 2015: $907,299Expenses 2015: $646,331Net Income 2015: $260,9682015Revenue 2016: $1,458,922Expenses 2016: $891,088Net Income 2016: $567,8342016Revenue 2017: $1,912,458Expenses 2017: $1,305,656Net Income 2017: $606,8022017Revenue 2018: $4,397,775Expenses 2018: $1,883,074Net Income 2018: $2,514,7012018Revenue 2019: $1,713,674Expenses 2019: $1,414,510Net Income 2019: $299,1642019Revenue 2020: $1,660,995Expenses 2020: $1,410,829Net Income 2020: $250,1662020Revenue 2021: $1,622,673Expenses 2021: $1,511,637Net Income 2021: $111,0362021Revenue 2022: $2,100,149Expenses 2022: $1,727,175Net Income 2022: $372,9742022Revenue 2023: $1,926,144Expenses 2023: $1,699,408Net Income 2023: $226,7362023Revenue 2024: $1,583,902Expenses 2024: $1,469,304Net Income 2024: $114,5982024

Highlighted filing

2014

Revenue$529,349
Expenses$413,440
Net Income$115,909
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Sep 24, 2015
Return Version
2014v5.0
Gross Receipts
$545,680
Mission and Program Overview

Mission

To provide a much needed housing option for adults with special needs that includes vocational training, employment, health, wellness and fitness, as well as develop public/private partnerships that will help minimize the need for state funding.

The organization was established to develop housing and other services for individuals with disabilities and other special needs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,562,439$1,600,853▲ $38,414
Savings and Temporary Cash Investments$183,187$137,128▼ $46,059
Cash and Non-Interest-Bearing Accounts$58,469$79,348▲ $20,879
Inventories for Sale or Use-$21,348-
Prepaid Expenses and Deferred Charges$10,675$10,016▼ $659
Total Assets$1,898,348$2,034,441▲ $136,093
Other Assets Total$83,578$185,748▲ $102,170
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,745,000$1,745,000→ $0
Accounts Payable and Accrued Expenses$31,675$52,644▲ $20,969
Deferred Revenue$19,963$19,178▼ $785
Total Liabilities$1,796,638$1,816,822▲ $20,184
Net Assets / Fund Balance
Unrestricted Net Assets$69,457$196,094▲ $126,637
Temporarily Rstr Net Assets$32,253$21,525▼ $10,728
Total Net Assets Fund Balance$101,710$217,619▲ $115,909
Total Liabilities and Net Assets / Fund Balance$1,898,348$2,034,441▲ $136,093

Asset Categories

AssetBook ValueDepreciationBasis
Land$1,559,699-$1,559,699
Equipment$30,470$3,175$33,645
Other Land Buildings$10,684$673$11,357
Other Assets Org$185,748--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Bettina FarmerExecutive DiFT$40,000$40,000

Board Members and Trustees

NameTitle
I Wayne CooperChairman
Rich ThompsonVice Chairma
Chris ConeenDirector
Dr Andrew Schneider-munozDirector
Frank VegaDirector
James BressDirector
Jim BrownDirector
Mayor Hal RoseDirector
Pamela Bress EsquireDirector
Rusty MelleDirector
Stacy ThompsonDirector
Lori ScottDirector Eme
Wayne IveyDirector Eme
Terry LockeSecretary
Lori NelsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$239,479
Program Service Revenue
$259,130
Investment Income
$23
Other Revenue
$30,717
All Other Contributions
$229,479
Change in Net Assets
$115,909

Audited Revenue Reconciliation

Revenue per Audited Statements
$529,349
Revenue Not Reported on Form 990
$16,331
Total Revenue per Audited Statements
$545,680
Total Revenue per Form 990
$529,349
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$248,195
Other Expenses$165,245
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$192,072$51,101-$243,173
Occupancy$67,604--$67,604
Office Expenses$25,032--$25,032
Fees for Services Accounting$8,598$14,242-$22,840
Advertising$9,849--$9,849
Travel$8,142--$8,142
Information Technology$7,483--$7,483
Other Expenses$6,959--$6,959
Insurance-$5,068-$5,068
Payroll Taxes$4,865$157-$5,022
Fees for Services Lobbying$4,000--$4,000
Depreciation Depletion$3,689--$3,689
Fees for Services Legal$3,016--$3,016
Fees for Services Other$1,134--$1,134
Conferences and Meetings$400--$400
Interest$29--$29
Total Functional Expenses$342,872$70,568$0$413,440

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$429,771
Expenses per Audited Statements$413,440
Total Expenses per Form 990$413,440
Expenses Not Reported on Form 990$16,331
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$47,048
Fundraising Direct Expenses$16,331
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Pathways to Pro$15,158$15,158$150$15,008
Zumbathon$9,577$9,577$5,437$4,140
Total Events$47,048$47,048$16,331$30,717
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
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

Each director, principal officer and member of a committee with governing board delegated powers shall annually meet to review the organization's tax return before final filing with the internal revenue service.

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

If the governing board or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If, after hearing the member's response and after making further investigation as warranted by the circumstances, the governing board or committee determines the member has failed to disclose an actual or possible conflict of interest, it shall take the appropriate disciplinary and corrective action.

Form 990, Page 6, Part VI, Line 15A

A voting member of the governing board who receives compensation, directly or indirectly, from the organization for services is precluded from voting on matters pertaining to the member's compensation. The organization shall do periodic reviews to determine compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arm's length bargaining.

Form 990, Page 6, Part VI, Line 19

The governing documents, conflict of interest policy and financial statements are available to the public by accessing the organization's website, selecting the 'contact' tab and requesting documents through email.

Filing and Contact Details

Filer

Filer Name
Promise Inc
EIN
90-0520600
Phone
3215367062
Address
1490 DOWD COURT SE, PALM BAY, FL 32909

Signing Officer

Name
Bettina D Farmer
Title
Executive Director
Phone
3215367062
Signed
2015-09-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bettina D Farmer
Formed
2009
Legal Domicile
Fl
Voting Board Members
16
Independent Board Members
15
Employees
27
Volunteers
100

Preparer

Firm
Whittaker Cooper Financial Group
Address
1692 WEST HIBISCUS BOULEVARD, MELBOURNE, FL 32901
Preparer
I Wayne Cooper CPA
Phone
3217233352
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

The development of permanent supportive housing for persons with developmental disabilities or other special needs. 4) hired an additional 7 young adults with special needs at promise treasures thrift shoppe. 5) provided vocational training for 35 young adults with special needs and collaborated with florida institute of technology's center for organizational effectiveness to establish a workplace etiquette training class.

Form 990, Part XI, Line 9

Fundraising expenses included as reductions in revenue 16,331 fundraising expenses included as reductions in revenue -16,331

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

Fundraising expenses included as reductions in revenue 16,331

Schedule D, Page 4, Part XII, Line 2D

Fundraising expenses included as reductions in revenue 16,331

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IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR EME
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR EME
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt14TREASURER
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IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleC/TotalLobbyingExpendGrp/FilingOrganizationsTotalAmt04000
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt03175
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt033645
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IRS990ScheduleD/OtherRevenueAmt016331
IRS990ScheduleD/RevenueNotReportedAmt016331
IRS990ScheduleD/RevenueSubtotalAmt0529349
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FUNDRAISING EXPENSES INCLUDED AS REDUCTIONS IN REVENUE 16,331
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FUNDRAISING EXPENSES INCLUDED AS REDUCTIONS IN REVENUE 16,331
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 2D
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.62$0.06$5.56$1.58$1.47$0.11
2023Detailed filing. Detailed filing data is available for this year.$5.53$0.09$5.44$1.93$1.70$0.23
2022Detailed filing. Detailed filing data is available for this year.$5.41$0.21$5.20$2.10$1.73$0.37
2021Detailed filing. Detailed filing data is available for this year.$6.43$1.60$4.83$1.62$1.51$0.11
2020Detailed filing. Detailed filing data is available for this year.$6.23$1.52$4.72$1.66$1.41$0.25
2019Detailed filing. Detailed filing data is available for this year.$6.08$1.61$4.47$1.71$1.41$0.30
2018Detailed filing. Detailed filing data is available for this year.$6.05$1.88$4.17$4.40$1.88$2.51
2017Detailed filing. Detailed filing data is available for this year.$3.74$2.40$1.34$1.91$1.31$0.61
2016Detailed filing. Detailed filing data is available for this year.$2.35$1.30$1.05$1.46$0.89$0.57
2015Detailed filing. Detailed filing data is available for this year.$2.97$2.49$0.48$0.91$0.65$0.26
2014Detailed filing. Detailed filing data is available for this year.$2.03$1.82$0.22$0.53$0.41$0.12
2013Detailed filing. Detailed filing data is available for this year.$1.90$1.80$0.10$0.23$0.23$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.15$0.04$0.11$0.11
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.01$0.00$0.08$0.09$0.00