Greenwood Promise Llc
- Assets
- $5.9m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Greenwood, SC
- Founding
- 06/2019
- Data as of
- 06/2022
- 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 06/2022, Greenwood Promise Llc generated $2.3m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 59.3% each year . All expenses for the organization totaled $423.7k during the year ending 06/2022. While expenses have increased by 50.7% per year over the past 4 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
2022
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 |
|---|---|---|---|
Josh Black Vice Chair | OfficerTrustee | 4 | $0 |
Josh Garvin Treasurer | OfficerTrustee | 4 | $0 |
Ron Millender Chair | OfficerTrustee | 4 | $0 |
Julie Miner Secretary | OfficerTrustee | 4 | $0 |
Katie Davenport Executive Di | Officer | 40 | $0 |
Welborn Adams Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $5,000 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,807,273 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,812,273 |
| Total Program Service Revenue | $0 |
| Investment income | $109,358 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $425,268 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,346,899 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $39,526 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $88,000 |
| Compensation of current officers, directors, key employees. | $88,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $51,524 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $47,547 |
| 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 | $66,978 |
| Fees for services: Investment Management | $35,388 |
| Fees for services: Other | $40,838 |
| Advertising and promotion | $10,449 |
| Office expenses | $6,240 |
| Information technology | $23,828 |
| Royalties | $0 |
| Occupancy | $6,460 |
| 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 | $1,052 |
| All other expenses | $0 |
| Total functional expenses | $423,739 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $216,612 |
| 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 | $0 |
| Investments—publicly traded securities | $5,641,994 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,858,606 |
| 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 | $374 |
| Total liabilities | $374 |
| Net assets without donor restrictions | $5,858,232 |
| 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 | $5,858,606 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Greenwood Promise Llc has recieved totaling $64,926.
| Awarding Organization | Amount |
|---|---|
Greenwood County Community Foundation Inc Greenwood, SC | | $34,917 |
County Bank Foundation Greenwood, SC PURPOSE: GENERAL DONATION | $25,000 |
Kauffmann Family Foundation Inc Atlanta, GA PURPOSE: GENERAL SUPPORT | $2,500 |
Davis Family Foundation Greenwood, SC PURPOSE: GENERAL SUPPORT | $2,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $9 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Telamon Corporation Raleigh, NC | $28,971,791 | $85,006,099 |
Pruitt Corporation Employee Welfare Norcross, GA | $5,026,472 | $52,038,649 |
Palmetto Goodwill North Charleston, SC | $100,114,143 | $50,949,954 |
Helping Hands Ministries Inc Tallulah Falls, GA | $3,673,283 | $41,819,921 |
Bremen Food & Clothing Bank Inc Bremen, GA | $515,496 | $35,921,408 |
Southwest Georgia Community Action Council Inc Moultrie, GA | $11,357,621 | $35,023,890 |
Must Ministries Inc Marietta, GA | $38,621,848 | $35,481,764 |
Inter-Faith Food Shuttle Raleigh, NC | $8,299,507 | $23,329,525 |
Enrichment Services Program Incorporated Columbus, GA | $4,122,189 | $23,954,834 |
Society Of St Vincent De Paul Georgia Inc Atlanta, GA | $8,206,515 | $23,990,110 |
Economic Improvement Council Inc Edenton, NC | $4,246,156 | $20,948,013 |
Country Club Of Landfall Wilmington, NC | $36,040,032 | $19,318,350 |