Arkadelphia Promise Foundation Inc
- Assets
- $2.9m
- Revenue
- $745.3k
- Investments
- $0.0
- Employees
- 1
- Location
- Arkadelphia, AR
- Founding
- 12/2016
- Data as of
- 12/2023
- EIN
- 27-3981892
Organization Overview
Arkadelphia Promise Foundation Inc is located in Arkadelphia, AR. The organization was established in 2016. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arkadelphia Promise 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 12/2023, Arkadelphia Promise Foundation Inc generated $745.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $589.6k during the year ending 12/2023. While expenses have increased by 1.8% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE GOAL OF THE ARKADELPHIA PROMISE SCHOLARSHIP IS TO INCREASE THE COLLEGE-GOING RATE FOR LOCAL STUDENTS, REDUCE THE NUMBER OF STUDENTS DROPPING OUT OF COLLEGE FOR FINANCIAL REASONS AND PROVIDE FOR A MORE EDUCATED WORKFORCE. THE ARKADELPHIA PROMISE IS A GAME-CHANGING EFFORT HELPING TO MAKE A COLLEGE EDUCATION NOT JUST A DREAM, BUT A REALITY FOR EVERY CHILD IN ARKADELPHIA. A COLLEGE DEGREE IS A PASSPORT TO FUTURE PROSPERITY FOR INDIVIDUALS AND AN EDUCATED WORKFORCE MAKES ARKADELPHIA A MORE ATTRACTIVE COMMUNITY IN WHICH TO LOCATE A BUSINESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GOAL OF THE ARKADELPHIA PROMISE SCHOLARSHIP IS TO INCREASE THE COLLEGE-GOING RATE FOR LOCAL STUDENTS, REDUCE THE NUMBER OF STUDENTS DROPPING OUT OF COLLEGE FOR FINANCIAL REASONS AND PROVIDE FOR A MORE EDUCATED WORKFORCE. THE ARKADELPHIA PROMISE IS A GAME-CHANGING EFFORT HELPING TO MAKE A COLLEGE EDUCATION NOT JUST A DREAM, BUT A REALITY FOR EVERY CHILD IN ARKADELPHIA. A COLLEGE DEGREE IS A PASSPORT TO FUTURE PROSPERITY FOR INDIVIDUALS AND AN EDUCATED WORKFORCE MAKES ARKADELPHIA A MORE ATTRACTIVE COMMUNITY IN WHICH TO LOCATE A BUSINESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paulette Blacknall Director | Trustee | $0 | |
Nicole Porchia Director | Trustee | $0 | |
Carrie Roberson Director | Trustee | $0 | |
Dr Donnie Whitten Director | Trustee | $0 | |
Tom Calhoon Treasurer | Officer | $0 | |
Bryan Mckinney President | Officer | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $686,435 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $686,435 |
| Total Program Service Revenue | $0 |
| Investment income | $58,885 |
| 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 | $745,320 |
| 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 | $69,548 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,086 |
| Payroll taxes | $5,383 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,671 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,209 |
| Office expenses | $1,298 |
| Information technology | $474 |
| Royalties | $0 |
| Occupancy | $2,400 |
| Travel | $1,365 |
| 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 | $109 |
| Insurance | $1,522 |
| All other expenses | $862 |
| Total functional expenses | $589,593 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $36,731 |
| Savings and temporary cash investments | $2,834,046 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $393 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,871,170 |
| Accounts payable and accrued expenses | $0 |
| 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 | $1,519 |
| Total liabilities | $1,519 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $2,869,651 |
| Total liabilities and net assets/fund balances | $2,871,170 |