Promise House Inc
- Assets
- $2.0m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 95
- Location
- Dallas, TX
- Founding
- 08/1987
- Data as of
- 08/2022
- EIN
- 75-2180083
Organization Overview
Promise House Inc is located in Dallas, TX. The organization was established in 1987. According to its NTEE Classification (L41) the organization is classified as: Homeless Shelters, under the broad grouping of Housing & Shelter and related organizations. As of 08/2022, Promise House Inc employed 95 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Promise House 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 08/2022, Promise House Inc generated $4.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $5.9m during the year ending 08/2022. While expenses have increased by 7.6% per year over the past 7 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
PROMISE HOUSE EMBRACES HOMELESS, RUNAWAY & AT-RISK TEENS, GIVING THEM INDIVIDUALIZED SUPPORT, SKILLS, ENCOURAGEMENT AND HOPE TO LIVE A BETTER LIFE. WE ACCOMPLISH THIS THROUGH CRISIS INTERVENTION, EMERGENCY SHELTER AND LONG-TERM HOUSING, CASE MANAGEMENT, COUNSELING SERVICES,
Describe the Organization's Program Activity:
Part 3 - Line 4a
EMERGENCY YOUTH SHELTER PROGRAM PROVIDES A TEMPORARY SANCTUARY FOR HOMELESS, RUNAWAY AND ABANDONED YOUTH.
TRANSITIONAL LIVING SERVICES FOR YOUNG ADULTS PROVIDING STABILIZATION, INDEPENDENT LIVING INSTRUCTION AND SELF-SUFFICIENCY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles M Wolford Chief Executive Officer | Officer | 40 | $170,671 |
Regina Levine Chief Program Officer | Officer | 40 | $113,819 |
Decobia Gray-Lambert Chief Philanthropy Officer | Officer | 40 | $113,492 |
Edward Renteria Jr Director | Trustee | 1 | $0 |
Sean Mhlanga Director | Trustee | 1 | $0 |
Jacqueline Marshall Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $117,517 |
| Related organizations | $0 |
| Government grants | $3,016,855 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,688,491 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,822,863 |
| Total Program Service Revenue | $0 |
| Investment income | $10,218 |
| 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 | $4,850,103 |
| 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. | $430,938 |
| Compensation of current officers, directors, key employees. | $182,377 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,962,155 |
| Pension plan accruals and contributions | $40,255 |
| Other employee benefits | $543,207 |
| Payroll taxes | $273,086 |
| 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 | $0 |
| Fees for services: Other | $271,972 |
| Advertising and promotion | $0 |
| Office expenses | $98,941 |
| Information technology | $106,133 |
| Royalties | $0 |
| Occupancy | $311,054 |
| Travel | $28,198 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,260 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $187,046 |
| Insurance | $126,188 |
| All other expenses | $139,592 |
| Total functional expenses | $5,943,949 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $237,599 |
| Savings and temporary cash investments | $468,658 |
| Pledges and grants receivable | $340,359 |
| 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 | $27,223 |
| Net Land, buildings, and equipment | $946,156 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,019,995 |
| Accounts payable and accrued expenses | $246,443 |
| Grants payable | $0 |
| Deferred revenue | $22,388 |
| 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 | $1,284,162 |
| Total liabilities | $1,552,993 |
| Net assets without donor restrictions | -$952,408 |
| Net assets with donor restrictions | $1,419,410 |
| 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 | $2,019,995 |