Promise Pointe Inc
- Assets
- $1.1m
- Revenue
- $409.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Victoria, TX
- Founding
- 02/2017
- Data as of
- 12/2021
- EIN
- 81-2532681
Organization Overview
Promise Pointe Inc is located in Victoria, TX. The organization was established in 2017. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Promise Pointe 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 12/2021, Promise Pointe Inc generated $409.1k in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $135.7k during the year ending 12/2021. 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
PROVIDE HOUSING FOR THE HOMELESS IN VICTORIA COUNTY AND SURROUNDING AREAS
Describe the Organization's Program Activity:
Part 3 - Line 4a
BEGAN PROVIDING A PERMANENT AFFORDABLE HOUSING AND A SUPPORTATIVE COMMUNITY FOR THE CHROMICALLY HOMELESS IN VICTORIA, TEXAS AND THE CROSSROADS REGION. CONTINUED TO BUILD "TINY HOUSES" (WHICH CONTAIN ONE ROOM AND A CLOSET) FOR RESIDENTS,CREATED A COMMUNITY LAUNDRY, LIBRARY AND BATH BUILDING. ASSISTED RESIDENTS IN REGAINING THEIR INDEPENDENCE AND HELPED TO CREATE BETTER LIVES THAT WOULD HAVE BEEN IMPOSSIBLE WITHOUT A SAFE AND SOUND HOME IN WHICH TO LIVE. AT THE END OF 2019 5 "TINY HOUSES" HAD BEEN COMPLETED AND OCCUPIED. CONSTRUCTION OF ADDITIONAL "TINY HOUSES" BEGAN AT THE END OF THE YEAR.
BEGAN PROVIDING A PERMANENT AFFORDABLE HOUSING AND A SUPPORTATIVE COMMUNITY FOR THE CHROMICALLY HOMELESS IN VICTORIA, TEXAS AND THE CROSSROADS REGION. CONTINUED TO BUILD "TINY HOUSES" (WHICH CONTAIN ONE ROOM AND A CLOSET) FOR RESIDENTS,CREATED A COMMUNITY LAUNDRY, LIBRARY AND BATH BUILDING. ASSISTED RESIDENTS IN REGAINING THEIR INDEPENDENCE AND HELPED TO CREATE BETTER LIVES THAT WOULD HAVE BEEN IMPOSSIBLE WITHOUT A SAFE AND SOUND HOME IN WHICH TO LIVE. AT THE END OF 2019 5 "TINY HOUSES" HAD BEEN COMPLETED AND OCCUPIED. CONSTRUCTION OF ADDITIONAL "TINY HOUSES" BEGAN AT THE END OF THE YEAR.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Buddy Breivogel Treasurer | OfficerTrustee | 2 | $0 |
Gail Hoad Secretary | OfficerTrustee | 2 | $0 |
Mike Olson President | OfficerTrustee | 2 | $0 |
Sherri Strickland Past Preside | OfficerTrustee | 2 | $0 |
Pam Borchert Director | Trustee | 1 | $0 |
Nelda Chambers Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $376,549 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $376,549 |
| Total Program Service Revenue | $30,800 |
| Investment income | $0 |
| 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 | $409,143 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,200 |
| 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 | $816 |
| Office expenses | $3,348 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,879 |
| 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 | $27,767 |
| Insurance | $8,203 |
| All other expenses | $17,957 |
| Total functional expenses | $135,687 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $196,888 |
| 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 | $6,595 |
| Net Land, buildings, and equipment | $854,475 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $57,312 |
| Total assets | $1,115,270 |
| 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 | $1,050 |
| Total liabilities | $1,050 |
| Net assets without donor restrictions | $1,008,178 |
| Net assets with donor restrictions | $106,042 |
| 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 | $1,115,270 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Promise Pointe Inc has recieved totaling $39,735.
| Awarding Organization | Amount |
|---|---|
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $26,553 |
Kathryn Oconnor Foundation Victoria, TX PURPOSE: PROVIDE SUPPORT FOR EXPANISION OF AN ADDITIONAL FACILITY FOR MORE RESIDENTS | $12,500 |
Arvd Foundation Park Ridge, IL PURPOSE: PROVIDE AFORDABLE HOUSING | $500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $182 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Texas Health Presbyterian Hospital Kaufman Kaufman, TX | $17,114,303 | $46,511,695 |
Crossroads Housing Development Corporation Big Spring, TX | $1,430,723 | $31,698,100 |
Foundation Communities Inc Austin, TX | $201,792,213 | $44,085,347 |
Austin Affordable Housing Corporation Austin, TX | $189,492,836 | $40,972,198 |
Foundation Communities Austin, TX | $78,215,940 | $25,689,954 |
Tcc Hill Country Development Corporation Austin, TX | $11,234,408 | $22,073,361 |
Provident Commonwealth Education Resources Baton Rouge, LA | $142,254,594 | $7,390,935 |
Provident Commonwealth Education Resources Ii Baton Rouge, LA | $154,926,817 | $6,407,611 |
Houston Habitat For Humanity Inc Houston, TX | $36,979,256 | $11,315,347 |
Avenue Community Development Coporation Houston, TX | $81,189,118 | $11,542,239 |
Habitat For Humanity International Inc Fort Worth, TX | $28,701,953 | $17,323,879 |
Habitat For Humanity Of San Antonio Inc San Antonio, TX | $33,828,773 | $14,274,594 |