Greenwood Promise Llc
- Assets
- $6.3m
- Revenue
- $283.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Greenwood, SC
- Founding
- 06/2019
- Data as of
- 06/2023
- EIN
- 47-4599149
Organization Overview
Greenwood Promise Llc is located in Greenwood, SC. The organization was established in 2019. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greenwood Promise Llc 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, Greenwood Promise Llc generated $283.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (4.9%) each year. All expenses for the organization totaled $336.2k during the year ending 06/2023. 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 MISSION OF GREENWOOD PROMISE IS TO PROVIDE A TUITION-FREE PATH TO ENSURE GREENWOOD COUNTY STUDENTS OBTAIN THE POST-SECONDARY EDUCATION NEEDED TO DEVELOP A HIGHLY-SKILLED WORKFORCE, IMPROVE OVERALL QUALITY OF LIFE, AND INCREASE ECONOMIC VITALITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE TUITION ASSISTANCE TO GRADUATES OF GREENWOOD COUNTY TO PROMOTE POST-SECONDARY EDUCATION AND THEREBY ENSURING A SKILLED AND EDUCATED WORKFORCE, AN IMPROVED OVERALL QUALITY OF LIFE, AND AN INCREASED ECONOMIC VITALITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Katie Davenport Executive Di | Officer | 40 | $74,743 |
Welborn Adams Director | Trustee | 2 | $0 |
James Bateman Director | Trustee | 2 | $0 |
Josh Black Vice Chair | OfficerTrustee | 4 | $0 |
Hanna Dover Director | Trustee | 2 | $0 |
Dr Todd Gambill Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $9,000 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $374,742 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $383,742 |
| Total Program Service Revenue | $0 |
| Investment income | $133,752 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$233,871 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $283,623 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $21,465 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $74,743 |
| Compensation of current officers, directors, key employees. | $22,423 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $77,781 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $35,054 |
| Payroll taxes | $0 |
| 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 | $37,601 |
| Fees for services: Other | $10,809 |
| Advertising and promotion | $21,468 |
| Office expenses | $8,637 |
| Information technology | $25,241 |
| Royalties | $0 |
| Occupancy | $3,885 |
| 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 | $6,010 |
| Insurance | $1,182 |
| All other expenses | $0 |
| Total functional expenses | $336,172 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $139,148 |
| Savings and temporary cash investments | $0 |
| 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 | $37,262 |
| Investments—publicly traded securities | $6,158,823 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,335,233 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $6,335,233 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $6,335,233 |