San Marcos Promise
- Assets
- $750.6k
- Revenue
- $874.8k
- Investments
- $101.1k
- Employees
- 7
- Location
- San Marcos, CA
- Founding
- 08/2014
- Data as of
- 06/2023
- EIN
- 46-5460510
Organization Overview
San Marcos Promise is located in San Marcos, CA. The organization was established in 2014. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2023, San Marcos Promise employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. San Marcos Promise 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 06/2023, San Marcos Promise generated $874.8k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $976.0k during the year ending 06/2023. While expenses have increased by 9.0% 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
GUIDES AND SUPPORTS STUDENTS ON THEIR JOURNEYS TO COLLEGE AND INTO THE WORKFORCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FUTURE CENTERS PROVIDE A FOCAL POINT AT EACH HIGH SCHOOL WHERE STUDENTS AND THEIR FAMILIES HAVE IMMEDIATE ACCESS TO POST-HIGH SCHOOL PREPARATION AND PLANNING RESOURCES. OUR SERVICES ARE BUILDING CONFIDENCE, OPENING DOORS, AND HELPING STUDENTS ACHIEVE SELF-SUFFICIENT FUTURES. THE GOAL IS TO HELP STUDENTS CHOOSE, WITH INTENTION, A PATH TOWARDS MEANINGFUL POST-SECONDARY TRAINING, EDUCATION, AND CAREER OPPORTUNITIES. NUMBER OF STUDENTS SERVED IN THE 2022-2023 FISCAL YEAR WERE 6,562. FUTURE CENTERS ARE DESIGNED TO INCREASE THE NUMBER OF STUDENTS CONTINUING THEIR EDUCATION AFTER HIGH SCHOOL BY ASSISTING THEM IN DISCOVERING OPPORTUNITIES IN CAREERS AND CONNECTING THEM WITH RESOURCES, BOTH ON CAMPUS AND IN THE COMMUNITY, NECESSARY TO PURSUE POST HIGH SCHOOL EDUCATION. THANKS TO THE GENEROUS DONATION AND PARTNERSHIP WITH PIMA MEDICAL INSTITUTE, FUTURE CENTERS ARE STAFFED, YEAR-ROUND, WITH A CAREER COACH TO ASSIST STUDENTS AND FAMILIES.
LEARNING ENRICHMENT TO ACHIEVE PROMISE (LEAP) IS AN EXTENDED-YEAR PROGRAM FOR CHILDREN TO EXPLORE THEIR INTERESTS AND DISCOVER NEW PASSIONS. IN PARTNERSHIP WITH THE SAN MARCOS UNIFIED SCHOOL DISTRICT, LEAP PROVIDES OPPORTUNITIES FOR COURSES THAT BUILD REAL-WORLD SKILLS SUCH AS CREATIVE PROBLEM SOLVING, COLLABORATION, AND DIGITAL FLUENCY, AND OFFER A GLIMPSE INTO A VARIETY OF PROFESSIONS. PROCEEDS FROM THE PROGRAM ARE REINVESTED INTO THE SAN MARCOS PROMISE TO SUPPORT FUTURE SCHOLARSHIPS.
PROVIDE HIGH SCHOOL STUDENTS WITH EDUCATIONAL RESOURCES, GUIDANCE TO PREPARE AND EMPOWER TO CHOOSE A PATH LEADING TO A PRACTICAL CAREER THAT IS SUITED TO THEIR PASSIONS. HIGH SCHOOL STUDENTS DEVELOP SKILLS AND DEVELOP WORKPLACE SKILLS AND GROW THEIR PROFESSIONAL NETWORK. PROMISE 360 PROGRAM: THE PROMISE 360 PROGRAM SUPPORTS 50 GRADUATING SENIORS IN SAN MARCOS UNIFIED SCHOOL DISTRICT WHO PLAN ON ENTERING THE WORKFORCE DIRECTLY OUT OF HIGH SCHOOL. OUR YEAR-LONG PROGRAM EMPOWERS STUDENTS TO DEVELOP LEADERSHIP AND CAREER-READINESS SKILLS, TEACHES THEM ABOUT POSSIBLE NON-COLLEGE CAREER OPTIONS, AND DIRECTLY LINKS THEM TO LOCAL BUSINESSES WITH OPENINGS FOR JOBS THAT PAY A LIVING WAGE AND PROVIDE BENEFITS. PROGRAM GOAL: TO SHIFT MORE WORKFORCE-BOUND HIGH SCHOOL GRADUATES TO HIGHER-PAYING CAREERS WITH BENEFITS AND GROWTH POTENTIAL AND AWAY FROM COMMON JOBS THAT PAY LOWER WAGES, ARE PART-TIME, AND LACK BENEFITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Justin Matsushita Chair | OfficerTrustee | 1 | $0 |
Sharon Jenkins Secretary | OfficerTrustee | 1 | $0 |
Mike Mcdonald Treasurer | OfficerTrustee | 1 | $0 |
Jim Bettencourt Director | Trustee | 1 | $0 |
Paul Borden Director | Trustee | 1 | $0 |
Amy Brown Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $12,781 |
| Related organizations | $0 |
| Government grants | $197,922 |
| All other contributions, gifts, grants, and similar amounts not included above | $617,471 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $828,174 |
| Total Program Service Revenue | $56,916 |
| Investment income | $1,256 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $747 |
| Net Income from Fundraising Events | -$12,313 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $874,780 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $13,193 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $202,831 |
| Compensation of current officers, directors, key employees. | $20,283 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $437,382 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $111,416 |
| Payroll taxes | $32,692 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $512 |
| Fees for services: Other | $13,488 |
| Advertising and promotion | $60,580 |
| Office expenses | $7,970 |
| Information technology | $2,919 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $975,963 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $558,804 |
| Savings and temporary cash investments | $90,687 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $101,132 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $750,623 |
| Accounts payable and accrued expenses | $669 |
| 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 | $0 |
| Total liabilities | $669 |
| Net assets without donor restrictions | $606,422 |
| Net assets with donor restrictions | $143,532 |
| 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 | $750,623 |