Promesa Foundation Inc
- Assets
- $24.7m
- Revenue
- $3.5m
- Investments
- $1.6m
- Employees
- 2
- Location
- Bronx, NY
- Founding
- 09/1987
- Data as of
- 12/2021
- EIN
- 13-3411787
Organization Overview
Promesa Foundation Inc is located in Bronx, NY. The organization was established in 1987. According to its NTEE Classification (F22) the organization is classified as: Substance Abuse Treatment, under the broad grouping of Mental Health & Crisis Intervention and related organizations. As of 12/2021, Promesa Foundation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Promesa Foundation 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 12/2021, Promesa Foundation Inc generated $3.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $2.7m during the year ending 12/2021. While expenses have increased by 5.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE FUNDS FOR ACACIA NETWORK'S MANY OPERATING PROGRAMS WHOSE PURPOSE IS TO PROVIDE SERVICES IN HEALTH, EDUCATION, EMPLOYMENT, HOUSING AND ECONOMIC AND COMMUNITY DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE THE ACACIA NETWORK WITH FISCAL AND ADMINISTRATIVE OFFICE SPACE TO INCREASE TREATMENT AREA AVAILABLE AND CLIENTS SERVICED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gilbert Hernandez Chair | OfficerTrustee | 1 | $0 |
Federico Perez Secretary | OfficerTrustee | 1 | $0 |
Aileen Perez Treasurer | OfficerTrustee | 1 | $0 |
Jose R Rodriguez Chief Legal Officer/exec. VP | Officer | 0.14 | $0 |
Lymaris Albors Chief Operating Officer | Officer | 0.14 | $0 |
Raul Russi President And CEO | Officer | 0.14 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $244,326 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $74,495 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $318,821 |
| Total Program Service Revenue | $2,506,463 |
| Investment income | $102,555 |
| 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 | $36,425 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,536,945 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $25,131 |
| Fees for services: Accounting | $15,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $106,077 |
| Advertising and promotion | $781 |
| Office expenses | $272,054 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $636,149 |
| Travel | $1,125 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $822,181 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $606,298 |
| Insurance | $172,440 |
| All other expenses | $0 |
| Total functional expenses | $2,658,136 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,427,369 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $162,075 |
| Accounts receivable, net | $3,604,699 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $102,776 |
| Net Land, buildings, and equipment | $17,818,001 |
| Investments—publicly traded securities | $1,217 |
| Investments—other securities | $1,568,796 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $24,684,933 |
| Accounts payable and accrued expenses | $343,258 |
| Grants payable | $0 |
| Deferred revenue | $440 |
| 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 | $18,017,495 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,033,750 |
| Total liabilities | $19,394,943 |
| Net assets without donor restrictions | $5,005,573 |
| Net assets with donor restrictions | $284,417 |
| 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 | $24,684,933 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Promesa Foundation Inc has recieved totaling $69,575.
| Awarding Organization | Amount |
|---|---|
Capital District Physicians Health Plan Inc Albany, NY PURPOSE: PPE, FOOD, HOUSING AND EMERGENCY AID ASSISTANCE | $50,000 |
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $17,000 |
Organization Name not Listed PURPOSE: GENERAL SUPPORT | | $2,375 |
Mutual Of America Foundation New York, NY PURPOSE: GENERAL OPERATING PURPOSE | $200 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lower Eastside Service Center Inc New York, NY | $18,518,556 | $19,028,125 |
Victory Programs Inc Boston, MA | $13,484,459 | $20,494,134 |
Net Treatment Services Inc Philadelphia, PA | $7,104,223 | $17,590,215 |
John Brooks Recovery Center A New Jersey Nonprofit Corporation Pleasantville, NJ | $23,277,544 | $17,818,306 |
National Association On Drug Abuse Problems New York State Inc New York, NY | $7,722,509 | $16,122,188 |
New Hope Integrated Behavioral Health Care Marlboro, NJ | $14,997,525 | $18,658,618 |
Southwest Behavioral Care Inc Charleroi, PA | $4,655,693 | $16,384,731 |
Maryville Inc Turnersville, NJ | $11,477,479 | $15,455,103 |
Merakey Parkside Recovery Lafayette Hill, PA | $6,334,030 | $14,518,954 |
Horizon House Inc Philadelphia, PA | $38,584,419 | $28,628,800 |
Midwestern Connecticut Council Of Alcoholism Inc Danbury, CT | $14,682,588 | $14,280,578 |
Connecticut Renaissance Inc Shelton, CT | $3,197,741 | $13,899,862 |