La Promesa Foundation
- Assets
- $6.3m
- Revenue
- $5.1m
- Investments
- $0.0
- Employees
- 26
- Location
- Midland, TX
- Founding
- 05/1996
- Data as of
- 12/2021
- EIN
- 75-2648137
Organization Overview
La Promesa Foundation is located in Midland, TX. The organization was established in 1996. According to its NTEE Classification (X21) the organization is classified as: Protestant, under the broad grouping of Religion-Related and related organizations. As of 12/2021, LA Promesa Foundation employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. LA Promesa 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 12/2021, LA Promesa Foundation generated $5.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $4.4m during the year ending 12/2021. While expenses have increased by 2.0% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE CATHOLIC PROGRAMS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION OPERATES AND CONTINUES TO DEVELOP THE GUADALUPE RADIO NETWORK WHICH PROVIDES CATHOLIC PROGRAMMING.
THE FOUNDATION OPERATES THE GUADALUPE RESOURCE CENTER WHICH PROVIDES A LARGE BILINGUAL LIBRARY OF MATERIALS FOR PROMOTING THE TRUTHS OF THE CATHOLIC FAITH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Schuler Jr Dir Of Development | 40 | $112,905 | |
Kent Loney Engineer | 40 | $110,112 | |
Leonard J Oswald CEO | Officer | 40 | $106,846 |
Joseph Mcclane Program Director | 40 | $103,700 | |
David Palmer Executive Director | 40 | $103,485 | |
Richard Reyna Executive Director | 40 | $101,149 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $403,954 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,199,494 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,603,448 |
| Total Program Service Revenue | $10,175 |
| Investment income | $7,098 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $438,477 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,059,198 |
| 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. | $235,519 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,361,501 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $478,417 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,611 |
| Fees for services: Accounting | $2,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $15,394 |
| Office expenses | $23,234 |
| Information technology | $48,776 |
| Royalties | $0 |
| Occupancy | $646,631 |
| Travel | $33,399 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,361 |
| Interest | $5,272 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $639,821 |
| Insurance | $48,392 |
| All other expenses | $336,345 |
| Total functional expenses | $4,444,461 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $564,242 |
| Savings and temporary cash investments | $1,885,969 |
| 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 | $82,505 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,332,066 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,390,349 |
| Other assets | $0 |
| Total assets | $6,255,131 |
| Accounts payable and accrued expenses | $108,203 |
| 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 | $108,203 |
| Net assets without donor restrictions | $5,981,928 |
| Net assets with donor restrictions | $165,000 |
| 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 | $6,255,131 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that La Promesa Foundation has recieved totaling $68,317.
| Awarding Organization | Amount |
|---|---|
Scanlan Foundation Houston, TX PURPOSE: TO SUPPORT CATHOLIC RELIGIOUS AND CHARITABLE ACTIVITIES | $35,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: RELIGION RELATED | $23,000 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: RELIGIOUS | $5,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $3,877 |
Bonfield Family Foundation Argyle, TX PURPOSE: GENERAL SUPPORT | $840 |
John A And Mary Pollok Yanta Memorial Tr San Antonio, TX PURPOSE: PROMOTE CATHOLIC PROGRAMS | $100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New Orleans Mission Inc New Orleans, LA | $5,963,143 | $11,588,055 |
Presbyterian Village Inc Little Rock, AR | $7,163,719 | $8,947,997 |
Village At Gleannloch Farms Inc Austin, TX | $0 | $0 |
City Of Faith Prison Ministries Monroe, LA | $6,013,159 | $9,077,995 |
Usatransform Southlake, TX | $4,678,487 | $10,648,450 |
Iglesia Bethel Ministries Inc San Antonio, TX | $9,077,539 | $1,090,041 |
Powerpoint Ministries Plano, TX | $1,308,223 | $5,704,956 |
Permanent Endowment Fund Of The Moody Memorial First United Method Galveston, TX | $123,313,594 | $19,045,257 |
Greater St Stephen Ministries New Orleans, LA | $35,746,422 | $4,835,716 |
Abundant Rain Ministries Inc Coweta, OK | $1,184,763 | $4,705,451 |
Reaching Souls International Inc Oklahoma City, OK | $9,096,171 | $6,014,810 |
La Promesa Foundation Midland, TX | $6,255,131 | $5,059,198 |