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 12/2023, Promise Pointe Inc generated $397.6k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $210.0k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE THE HOMELESS OF VICTORIA, TEAS AND THE CROSSROADS REGION WITH PERMANENT AFFORDABLE HOUSING AND A TRANSFORMATIVE SUPPORTIVE RESIDENTIAL COMMUNITY.
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. FOUR TINY HOUSES WERE COMPLETED IN 2023 AND AT THE END OF 2023 A TOTAL OF 18 TINY HOUSES HAVE BEEN COMPLETED. CONSTRUCTION IN PROGRESS OF TWO ADDITIONAL "TINY HOUSES" CONTINUES IN 2024.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Pam Borchert Director | Trustee | $0 | |
Buddy Breivogel Treasurer | OfficerTrustee | $0 | |
Nelda Chambers Director | Trustee | $0 | |
Jim Cole Director | Trustee | $0 | |
Margaret Fisseler Director | Trustee | $0 | |
Gail Hoad Secretary | OfficerTrustee | $0 |
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 | $346,237 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $346,237 |
Total Program Service Revenue | $51,169 |
Investment income | $169 |
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 | $397,593 |
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 | $25,000 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $4,225 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $535 |
Office expenses | $6,222 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $35,504 |
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 | $58,262 |
Insurance | $16,857 |
All other expenses | $23,506 |
Total functional expenses | $210,040 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $217,442 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $10,825 |
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 | $9,612 |
Net Land, buildings, and equipment | $1,354,637 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $73,801 |
Total assets | $1,666,317 |
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 | $2,733 |
Total liabilities | $2,733 |
Net assets without donor restrictions | $1,589,733 |
Net assets with donor restrictions | $73,851 |
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 | $1,666,317 |