Richmond Promise Inc

Organization Overview

Richmond Promise Inc is located in Richmond, CA. The organization was established in 2016. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2023, Richmond Promise Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Richmond 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 12/2023, Richmond Promise Inc generated $856.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (36.8%) each year. All expenses for the organization totaled $3.2m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

TO PROMOTE EDUCATIONAL EQUITY TO ENSURE ALL STUDENTS HAVE ACCESS TO HIGH QUALITY EDUCATION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

LAUNCHED IN JANUARY 2016, THE RICHMOND PROMISE IS A COMMUNITY-WIDE COLLEGE SUCCESS INITIATIVE TO BUILD A COLLEGE GRADUATING CULTURE IN RICHMOND, CA. THE RICHMOND PROMISE WAS CREATED WITH THE BELIEF THAT ALL RICHMOND STUDENTS SHOULD HAVE THE OPPORTUNITY TO DEVELOP THEIR SKILLS AND REACH THEIR FULL POTENTIAL, REGARDLESS OF RACE, INCOME LEVEL, OR PERSONAL BACKGROUND. WE SEE A DAY WHEN ALL YOUNG PEOPLE IN RICHMOND HAVE ACCESS TO HIGH QUALITY EDUCATION, EXCEL FROM HIGH SCHOOL TO HIGHER EDUCATION, ATTAIN A POSTSECONDARY DEGREE OR CERTIFICATION, THRIVE IN THE FIELD OF THEIR CHOICE, AND BECOME A LEADER OF POSITIVE CHANGE IN THEIR COMMUNITY AND THE WORLD. THROUGH A COLLEGE SCHOLARSHIP, COLLABORATIVE CROSS-SECTOR PARTNERSHIPS, AND SUPPORTIVE PROGRAMMING, (CONTINUED ON SCH. O) THE RICHMOND PROMISE AIMS TO ENSURE ALL STUDENTS IN RICHMOND EXCEL TO AND THROUGH HIGHER EDUCATION, REACH THEIR CAREER GOALS, AND BECOME CHANGE-MAKING LEADERS IN THE RICHMOND COMMUNITY. THE RICHMOND PROMISE INVESTS DIRECTLY IN OUR STUDENTS' FUTURES THROUGH THE RICHMOND PROMISE SCHOLARSHIP. EACH YEAR THEY ARE ENROLLED AT ANY NOT-FOR-PROFIT COMMUNITY COLLEGE, 4-YEAR COLLEGE OR CAREER TECHNICAL EDUCATION PROGRAM IN THE US, SCHOLARS RECEIVE $1,500, RENEWABLE FOR 4 YEARS. WE STRIVE TO SUPPORT ALL STUDENTS IN RICHMOND TO REACH THEIR HIGHER EDUCATION GOALS, WHICH IS WHY ANY RICHMOND STUDENT GRADUATING FROM AN ELIGIBLE HIGH SCHOOL CAN ACCESS THE SCHOLARSHIP.WE WORK COLLABORATIVELY WITH WEST CONTRA COSTA UNIFIED SCHOOL DISTRICT, THE CITY OF RICHMOND, CONTRA COSTA COMMUNITY COLLEGE, AND LOCAL BUSINESS AND PHILANTHROPY TO SUPPORT OUR SCHOLARS AT THREE KEY MOMENTUM POINTS THROUGH COLLEGE AND CAREER.-PRE-COLLEGE: DURING MIDDLE SCHOOL, WE FOCUS ON BUILDING COLLEGE AWARENESS. WE HIRE CURRENT RICHMOND PROMISE COLLEGE SCHOLARS TO TALK WITH MIDDLE SCHOOL STUDENTS IN AN EFFORT TO PUT THEM ON THE PATH TO COLLEGE AT THIS PIVOTAL AGE. THIS NEAR-PEER MODEL CONNECTS MIDDLE SCHOOLERS WITH COLLEGE STUDENTS WHO SHARE THE SAME IDENTITIES. THIS SHARED PERSPECTIVE CREATES AN IMMEDIATE TRUST THAT LEADS TO REAL IMPACT.-HIGH SCHOOL TO COLLEGE TRANSITION: IN HIGH SCHOOL AND THE TRANSITION TO COLLEGE, WE FOCUS ON ENSURING COLLEGE ACCESS AND AFFORDABILITY. IN PARTNERSHIP WITH THE SCHOOL DISTRICT, WE MEET STUDENTS WHERE THEY ARE - IN THE CLASSROOM. - TO WORK ON FINANCIAL AID COMPLETION AND THE RICHMOND PROMISE SCHOLARSHIP APPLICATION. OUR SCHOLARSHIP OF $1500 A YEAR CAN BE USED AT ANY NOT-FOR-PROFIT 2-YEAR OR 4-YEAR SCHOOL OR CTE PROGRAM IN THE UNITED STATES. THE SCHOLARSHIP CAN BE USED TOWARDS THE FULL COST OF ATTENDANCE - INCLUDING TUITION, HOUSING, BOOKS, AND TRANSPORTATION. WE PROVIDE SUMMER SUCCESS WORKSHOPS THROUGH WHICH OUR SCHOLARS LEARN ABOUT HOW TO SUCCEED IN THEIR FIRST YEARS AT SCHOOL.-FIRST YEAR THROUGH COLLEGE SUCCESS: AT THE COLLEGE LEVEL, OUR FOCUS IS ON ACHIEVING A POST-SECONDARY DEGREE, AND SUPPORTING STUDENTS WITH THE RESOURCES, NETWORKS, AND MENTORS TO THRIVE IN THE FIELD OF THEIR CHOICE. WE BUILD FORMAL PARTNERSHIPS WITH COLLEGES, INCLUDING CONTRA COSTA COLLEGE AND BERKELEY CITY COLLEGE, TO PROVIDE SUPPORT AT THE INSTITUTIONAL LEVEL. WE ALSO OFFER INDIVIDUALIZED COACHING TO OUR MOST AT-RISK STUDENTS. ADDITIONALLY, WE LEVERAGE THE COLLECTIVE WISDOM WITHIN OUR COMMUNITY TO PAIR SCHOLARS WITH RICHMOND MENTORS TO START PREPARING FOR THEIR CAREERS.IMPACT HIGHLIGHTS:*AWARDED 3,476 SCHOLARSHIPS AS OF JUNE 2023.*AS PART OF OUR COLLEGE ACCESS PROGRAMMING, WE HOSTED 3 PARENT AND FAMILY-SPECIFIC FSA ID WORKSHOPS AHEAD OF THE FAFSA LAUNCH, 18 "CASH FOR COLLEGE" WORKSHOPS AND 21 RICHMOND PROMISE SCHOLARSHIP INFORMATION WORKSHOPS AT 14 SCHOOLS IN THE WEST CONTRA COSTA UNIFIED SCHOOL DISTRICT BOUNDARIES.*WELCOMED 475 NEW RICHMOND PROMISE SCHOLARS AND ACHIEVED A SCHOLARSHIP CLAIM RATE OF 93% OR ONLY 7% SUMMER MELT*EMPLOYED 232 CURRENT RICHMOND PROMISE SCHOLARS TO DATE, INCLUDING 45 THIS PAST YEAR THROUGH OUR NEAR PEER AMBASSADOR, CAMPUS NETWORK LEADERS & SUMMER ASSOCIATES PROGRAM, SUPPORTING YOUNGER STUDENTS WITH FINANCIAL AID COMPLETION, AND SUPPORTING A SUCCESSFUL TRANSITION FROM HIGH SCHOOL TO COLLEGE. *COLLABORATED WITH HEALTH CAREER CONNECTION TO PLACE 10 STUDENTS INTO PAID PUBLIC HEALTH INTERNSHIPS IN RICHMOND. PARTICIPANTS SERVED FOR 10 WEEKS AND PROVIDED SUPPORT TO ORGANIZATIONS LIKE LIFELONG MEDICAL CARE CENTER, HEALTHY CONTRA COSTA AND ROTACARE CLINIC.*TECHNOLOGICAL ACCESS SERVES AS A CORE COMPONENT OF RP'S BASIC NEEDS SUPPORT SYSTEM. 55 COMPUTERS WERE PROVIDED TO STUDENTS WHO NEEDED THEM.*MORE THAN 500 SCHOLARS HAVE REPORTED THAT THEY GRADUATED FROM THEIR DEGREE PROGRAMS AS OF DECEMBER 2023*ENTERED A PARTNERSHIP WITH WESTERN GOVERNORS UNIVERSITY. NOW RICHMOND PROMISE SCHOLARS CAN QUALIFY FOR A PARTNER SCHOLARSHIP THAT, COMBINED WITH THE RP SCHOLARSHIP AND OTHER FUNDING SOURCES SUCH AS PELL GRANTS, WOULD ALLOW A STUDENT TO PURSUE A COLLEGE DEGREE AT LITTLE TO NO COST.*THIS YEAR, WE HELD OUR FIRST SET OF SUMMER WORKSHOPS FOR STUDENTS ENTERING THEIR SECOND YEAR IN COLLEGE AND/OR WITH RICHMOND PROMISE. SCHOLARS PARTICIPATED IN A FINANCIAL LITERACY SEMINAR, LED BY AN EXPERT AT WELLS FARGO, LEARNED HOW TO PREPARE FOR INTERVIEWS THANKS TO OUR PARTNERS AT HEALTH CAREER CONNECTION, AND GOT A GLIMPSE INTO STUDYING ABROAD FROM AN RP SCHOLAR ATTENDING UCLA. THE SERIES CONCLUDED WITH A VIRTUAL WORKSHOP ON RESUME BUILDING HOSTED BY ANOTHER FORMER RP SCHOLAR. 140 STUDENTS JOINED US, CHOOSING ONE OF THE THREE SESSIONS OFFERED.


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Board, Officers & Key Employees

Name (title)Compensation
Michael Littleton
Chair
$0
Mojdeh Mehdizadeh
Treasurer
$0
Linsi Crain
Secretary
$0
Annmarie Baines
Board Member
$0
Nicole Barnett
Board Member
$0
Shasa Curl
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $83,430
All other contributions, gifts, grants, and similar amounts not included above$162,819
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$246,249
Total Program Service Revenue$0
Investment income $599,024
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $10,674
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $856,880

Peer Organizations

Organization NameAssets
Ressler Gertz Foundation
Encino, CA
$12,060,157
Oakland Promise
Oakland, CA
$13,469,101
Port Of Los Angeles High School
San Pedro, CA
$17,229,873
Society Of Hispanic Professional Engineers
City Of Industry, CA
$14,243,825
La Promise Fund
Los Angeles, CA
$15,071,176
Flinn Foundation
Phoenix, AZ
$9,489,645
Basic Fund
Oakland, CA
$9,421,973
Scholarship Foundation Of Santa Barbara
Santa Barbara, CA
$10,459,065
Foundation For Global Sports Development
Los Angeles, CA
$3,201,071
The Rogers Foundation
Las Vegas, NV
$710,269
School Choice Arizona Inc
Chandler, AZ
$8,382,303
Monarch School Project
San Diego, CA
$6,581,895
Education Forward Arizona
Phoenix, AZ
$6,266,542
Carol Young Brooke Foundation
Manhattan Beach, CA
$749,245
Uc Hastings Foundation
San Francisco, CA
$7,094,995
Foundation For Educational Administration
Sacramento, CA
$6,015,224
Baird Foundation Inc
Tucson, AZ
$30,384
Orange Coast College Foundation
Costa Mesa, CA
$13,270,788
Point Foundation
Los Angeles, CA
$10,563,939
Arizona Private Education Scholarship Fund Inc
Scottsdale, AZ
$7,134,785
Orange County School Of The Arts Foundation
Santa Ana, CA
$5,393,216
The Foster Alliance
Phoenix, AZ
$5,439,957
The Roddenberry Foundation
Sherman Oaks, CA
$2,607,743
Brophy Community Foundation
Phoenix, AZ
$8,022,211
Kathy Simon Family Foundation
Newport Beach, CA
$5,097,303

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