Place Of Promise Inc
- Assets
- $1.5m
- Revenue
- $641.5k
- Investments
- $0.0
- Employees
- 12
- Location
- Lowell, MA
- Founding
- 09/1994
- Data as of
- 06/2022
- EIN
- 04-3233151
Organization Overview
Place Of Promise Inc is located in Lowell, MA. The organization was established in 1994. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. As of 06/2022, Place Of Promise Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Place Of Promise Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Place Of Promise Inc generated $641.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $354.8k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE A RESIDENCE AND INTEGRATED SUPPORTIVE SERVICES WITHIN COMMUNITY TO HELP EACH INDIVIDUAL REALIZE THEIR MAXIMUM POTENTIAL - PHYSICAL, MENTAL, AND SPIRITUAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING A RESIDENCE WITH INTEGRATED SUPPORT SERVICES, PLACE OF PROMISE: - SERVED 154 IN CORE PROGRAMS INCLUDING 101 IN ADULT RESIDENTIAL ADDICTION RECOVERY, 45 IN KIDS OF PROMISE SUMMER AND AFTERSCHOOL, AND 4 IN SPIRITUAL MENTORING AND SYSTEMS ADVOCACY TRAINING. - SERVED 25 IN NEIGHBORHOOD OUTREACH BIBLE STUDIES - PROVIDED AN ESTIMATED 67 VOLUNTEERS THE MEANS TO PROVIDE ASSISTANCE AND SERVICES TO PERSON IN NEED. 40 OF THESE VOLUNTEERS WERE ADULTS REGULARLY INTEGRATED INTO THE PROGRAM SERVICES PROVIDED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Kidd Director | Trustee | 40 | $12,650 |
Jacob Alexander Director/tre | Trustee | 2 | $0 |
Claire Gagnon Director | Trustee | 2 | $0 |
Carol Mostrom Secretary/cl | Trustee | 2 | $0 |
Sandra Siciliano Director / C | Trustee | 2 | $0 |
Craig Utley Director/cha | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $37,900 |
| All other contributions, gifts, grants, and similar amounts not included above | $535,247 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $573,147 |
| Total Program Service Revenue | $68,307 |
| Investment income | $88 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $641,542 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $198,139 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,350 |
| Payroll taxes | $13,323 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $479 |
| Advertising and promotion | $0 |
| Office expenses | $27,855 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $32,505 |
| Travel | $4,551 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $31,843 |
| Insurance | $20,211 |
| All other expenses | $0 |
| Total functional expenses | $354,829 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $893,241 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,300 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,429 |
| Net Land, buildings, and equipment | $596,623 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,499,593 |
| Accounts payable and accrued expenses | $11,617 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,478 |
| Total liabilities | $16,095 |
| Net assets without donor restrictions | $1,480,150 |
| Net assets with donor restrictions | $3,348 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,499,593 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Place Of Promise Inc has recieved totaling $32,465.
| Awarding Organization | Amount |
|---|---|
Mulberry Foundation Inc Worcester, MA PURPOSE: RESIDENTS SCHOLARSHIPS | $15,000 |
T Rowe Price Program For Charitable Giving Inc Baltimore, MD PURPOSE: GENERAL OPERATING | $8,000 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: EVANGELISM | $7,300 |
We Share A Common Thread Foundation Inc Lowell, MA PURPOSE: EXEMPT PURPOSES | $2,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $165 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Word Of Life Fellowship Inc Schroon Lake, NY | $120,358,230 | $77,023,933 |
Mercy Life Inc West Springfield, MA | $6,533,362 | $24,380,335 |
Chayim Vchesed Inc Brooklyn, NY | $4,624,709 | $20,578,750 |
Family Life Ministries Inc Bath, NY | $17,860,923 | $9,093,458 |
Brothers Of Mercy Of Montabaur Apartment Complex Inc Clarence, NY | $17,902,885 | $4,243,633 |
Resist Inc Jamaica Plain, MA | $7,004,475 | $7,102,680 |
Community Life Center Inc New York, NY | $644,812 | $3,859,837 |
Quincy Point Congregational Church Homes Inc Quincy, MA | $91,051,242 | $3,401,852 |
Tools Of The Mind Shirley, MA | $4,682,421 | $5,282,072 |
Overcoming Love Ministries Inc Woodhaven, NY | $3,350,912 | $2,614,539 |
Servants Of The Word Inc Glens Falls, NY | $3,237,962 | $3,756,976 |
Camp Hasc Inc Brooklyn, NY | $5,763,474 | $3,581,711 |