Promise Foundation
- Assets
- $4.8k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 11/2004
- Data as of
- 01/2024
- EIN
- 20-1618720
Organization Overview
Promise Foundation is located in New York, NY. The organization was established in 2004. According to its NTEE Classification (T21) the organization is classified as: Corporate Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Promise Foundation 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 01/2024, Promise Foundation generated $171.0 in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (61.1%) each year. All expenses for the organization totaled $10.6k during the year ending 01/2024. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Promise Foundation has awarded 30 individual grants totaling $1,479,700. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2024
Describe the Organization's Program Activity:
Part 3
GRANT MAKING - THE ORGANIZATION PROVIDES GRANTS TO FUND RESEARCH OF TERMINAL ILLNESSES AFFECTING YOUNG PEOPLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randy Reiff President & Treasurer | OfficerTrustee | 1 | $0 |
Jennifer Wiederkehr Rothberg Vice President | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Leon Bridges Event Performance | 1/30/20 | $227,500 |
Cipriani Wall Street Event Venue | 1/30/20 | $202,539 |
Maverick Events Llc Event & Consulting | 1/30/20 | $116,963 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $171 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $171 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $9,527 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $1,094 |
| Total expenses | $10,621 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $4,819 |
| Other assets | $0 |
| Total assets | $4,819 |
| Total liabilities | $191,105 |
| Net assets or fund balances | -$186,286 |
Grants Awarded
Over the last fiscal year, Promise Foundation has awarded $85,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
CHARLEY'S FUND PURPOSE: RESEARCH AND TREATMENT FOR DUCHENNE'S MUSCULAR DYSTROPHY. | $50,000 |
VIRTUAL ENTERPRISES INTERNATIONAL INC PURPOSE: GENERAL SUPPORT | $5,000 |
HARLEM VILLAGE ACADEMY CHARTER SCHOOL PURPOSE: GENERAL SUPPORT | $10,000 |
THE VALERIE FUND PURPOSE: GENERAL SUPPORT | $20,000 |