Tomorrows Promise Inc
- Assets
- $1.8m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 99
- Location
- Huntsville, TX
- Founding
- 04/2000
- Data as of
- 12/2022
- EIN
- 76-0626653
Organization Overview
Tomorrows Promise Inc is located in Huntsville, TX. The organization was established in 2000. According to its NTEE Classification (B21) the organization is classified as: Preschools, under the broad grouping of Education and related organizations. As of 12/2022, Tomorrows Promise Inc employed 99 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tomorrows Promise 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 12/2022, Tomorrows Promise Inc generated $3.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 17.0% each year . All expenses for the organization totaled $2.7m during the year ending 12/2022. While expenses have increased by 12.9% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING AN EXCELLENT EDUCATIONAL FOUNDATION IN AN ENVIRONMENT WHICH TEACHES CRITICAL LEARNING HABITS.
PROVIDING AN EXCELLENT EDUCATIONAL FOUNDATION IN AN ENVIRONMENT WHICH TEACHES CRITICAL LEARNING HABITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robin Bailor Director | Trustee | $0 | |
Kaye Boehning Director | Trustee | $0 | |
Richard Boehning Director | Trustee | $0 | |
Duane Frech Director | Trustee | $0 | |
Betse Johns Director | Trustee | $0 | |
Harry Johns Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,562,411 |
| All other contributions, gifts, grants, and similar amounts not included above | $52,244 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,614,655 |
| Total Program Service Revenue | $2,032,009 |
| Investment income | $5,854 |
| 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 | $3,652,518 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,242,240 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $117,447 |
| 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 | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $93,856 |
| Office expenses | $416,751 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $248,000 |
| Travel | $13,338 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $73,527 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $179,099 |
| Insurance | $32,880 |
| All other expenses | $12,901 |
| Total functional expenses | $2,721,248 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $644,502 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $124,344 |
| 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 | $863,039 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $133,169 |
| Total assets | $1,765,054 |
| Accounts payable and accrued expenses | $305,067 |
| 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 | $512,311 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $817,378 |
| Net assets without donor restrictions | $0 |
| 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 | $947,676 |
| Total liabilities and net assets/fund balances | $1,765,054 |