Bright Promises Foundation
- Assets
- $6.3m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 2
- Location
- Chicago, IL
- Founding
- 05/1921
- Data as of
- 12/2023
- EIN
- 36-2182047
Organization Overview
Bright Promises Foundation is located in Chicago, IL. The organization was established in 1921. According to its NTEE Classification (D20) the organization is classified as: Animal Protection & Welfare, under the broad grouping of Animal-Related and related organizations. As of 12/2023, Bright Promises Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bright Promises 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 12/2023, Bright Promises Foundation generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.3% each year . All expenses for the organization totaled $980.5k during the year ending 12/2023. While expenses have increased by 9.6% per year over the past 6 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.
Since 2018, Bright Promises Foundation has awarded 120 individual grants totaling $2,501,109. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO IDENTIFY, FUND, AND SHARE SOLUTIONS TO UNDERRECOGNIZED NEEDS OF CHILDREN AND YOUTH MOST ADVERSELY IMPACTED BY INEQUITY. WE MONITOR THE PROGRAMS WE FUND AND SHARE THE KNOWLEDGE WE GAIN WITH OTHERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REVIEWED PROPOSALS AND AWARDED GRANTS TO ORGANIZATIONS TO IMPROVE EARLY CHILDHOOD CENTERS, BUILD PARENT/CAREGIVER CAPACITY TO SUPPORT CHILDREN'S SOCIAL/EMOTIONAL LEARNING, AND RESPOND TO CHILDHOOD TRAUMA.MONITORED IMPLEMENTATION OF GRANTEES AND GATHERED KNOWLEDGE TO SHARE WITH OTHERS.ENCOURAGED YOUNG PEOPLE TO WORK IN THE NON-PROFIT ARENA FOR CHILDREN BY OFFERING THREE AWARDS, ONE TO A YOUNG PERSON IN THE FIELD, ONE TO AN ACCOMPLISHED LEADER AND ONE TO A CIVIC LEADER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Snyder President | OfficerTrustee | 1.5 | $0 |
Andreason Brown Vice President | OfficerTrustee | 1 | $0 |
Scott Bishop Treasurer | OfficerTrustee | 1 | $0 |
Nannette Zander Secretary | OfficerTrustee | 1 | $0 |
Dean Benson Director | Trustee | 0.5 | $0 |
Ryan Biller Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $107,926 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,143,014 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,250,940 |
| Total Program Service Revenue | $0 |
| Investment income | $96,356 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $156,244 |
| Net Income from Fundraising Events | -$39,162 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,465,878 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $534,416 |
| 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. | $93,726 |
| Compensation of current officers, directors, key employees. | $45,863 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $155,760 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,649 |
| Payroll taxes | $7,171 |
| Fees for services: Management | $6,023 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,426 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $37,150 |
| Fees for services: Other | $68,976 |
| Advertising and promotion | $3,433 |
| Office expenses | $10,368 |
| Information technology | $16,888 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $2,362 |
| All other expenses | $0 |
| Total functional expenses | $980,501 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $131,807 |
| Savings and temporary cash investments | $156,403 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,192 |
| 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 | $1,855 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $5,958,942 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,252,199 |
| Accounts payable and accrued expenses | $10,690 |
| Grants payable | $176,000 |
| 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 | $0 |
| Total liabilities | $186,690 |
| Net assets without donor restrictions | $4,515,167 |
| Net assets with donor restrictions | $1,550,342 |
| 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 | $6,252,199 |
Grants Awarded
Over the last fiscal year, Bright Promises Foundation has awarded $531,000 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
CHICAGO FREEDOM SCHOOL PURPOSE: HEALING, LEADING, CHANGING - SUPPORTING YOUTH TO ADDRESS TRAUMA | $44,000 |
NORTHWEST SIDE HOUSING CENTER PURPOSE: HEALING, LEADING, CHANGING - SUPPORTING YOUTH TO ADDRESS TRAUMA | $44,000 |
ARAB AMERICAN ACTION NETWORK PURPOSE: HEALING, LEADING, CHANGING - SUPPORTING YOUTH TO ADDRESS TRAUMA | $44,000 |
GIRLS INC OF CHICAGO PURPOSE: HEALING, LEADING, CHANGING - SUPPORTING YOUTH TO ADDRESS TRAUMA | $44,000 |
ALTERNATIVES INC PURPOSE: HEALING, LEADING, CHANGING - SUPPORTING YOUTH TO ADDRESS TRAUMA | $22,000 |
ILLINOIS COLLABORATION ON YOUTH PURPOSE: HEALING, LEADING, CHANGING - SUPPORTING YOUTH TO ADDRESS TRAUMA | $7,000 |