Booker Promise Foundation Inc
- Assets
- $268.2k
- Revenue
- $226.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Sarasota, FL
- Founding
- 08/2019
- Data as of
- 06/2022
- EIN
- 84-2585940
Organization Overview
Booker Promise Foundation Inc is located in Sarasota, FL. The organization was established in 2019. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Booker Promise Foundation 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 06/2022, Booker Promise Foundation Inc generated $226.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (34.5%) each year. All expenses for the organization totaled $224.0k during the year ending 06/2022. 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
PROVIDE COLLEGE SCHOLARSHIPS TO HIGH SCHOOL STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SCHOLARSHIPS TO BOOKER HIGH SCHOOL STUDENTS IN NEED AND WHO ARE PARTICIPATING IN THE BOOKER PROMISE SCHOLARSHIP PROGRAM
PURCHASE PREPAID COLLEGE SCHOLARSHIPS FROM FLORIDA PREPAID SCHOLARSHIP PROGRAM FOR THE BENEFIT OF BOOKER HIGH STUDENTS PARTICPATING IN THE BOOKER PROMISE PROGRAM.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fred Chamberlain Secretary/tr | OfficerTrustee | 1 | $0 |
Michael Shelton Chair | OfficerTrustee | 40 | $0 |
Lem Andrews Director | Trustee | 1 | $0 |
Kc Suzuki ESQ Director | Trustee | 1 | $0 |
Lewis Solomon ESQ Director | Trustee | 1 | $0 |
Dr Barbara J Lorry Vice Chair | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $226,353 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $226,353 |
| Total Program Service Revenue | $0 |
| Investment income | $122 |
| 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 | $226,475 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $187,266 |
| 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 | $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 | $32,205 |
| Advertising and promotion | $0 |
| Office expenses | $349 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $117 |
| Total functional expenses | $224,045 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $268,161 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $268,161 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $268,161 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $268,161 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Booker Promise Foundation Inc has recieved totaling $14,749.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Sarasota County Inc Sarasota, FL PURPOSE: GENERAL SUPPORT AND SCHOLARSHIP SUPPORT | $9,749 |
Ralph G Gorenstein Charitable Foundation Inc Sarasota, FL PURPOSE: GENERAL SUPPORT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Georgia Tech Foundation Inc Atlanta, GA | $3,057,656,645 | $246,304,114 |
University Of South Florida Foundation Inc Tampa, FL | $929,677,670 | $144,887,499 |
Auburn University Foundation Auburn, AL | $857,894,187 | $96,896,842 |
Florida State University Foundation Inc Tallahassee, FL | $730,089,060 | $57,370,131 |
Spelman College Special Ventures Fund Inc Atlanta, GA | $236,389,415 | $26,274,154 |
Seminole Boosters Inc Tallahassee, FL | $240,991,921 | $48,392,781 |
University Of Florida Research Foundation Inc Gainesville, FL | $131,218,099 | $46,757,527 |
University Of Central Florida Foundation Inc Orlando, FL | $396,904,531 | $45,984,866 |
Florida International University Foundation Inc Miami, FL | $475,743,772 | $154,605,877 |
Shorter University Inc Rome, GA | $57,209,537 | $39,807,545 |
Kennesaw State University Foundation Inc Kennesaw, GA | $537,455,993 | $85,548,111 |
University Of South Alabama Foundation Mobile, AL | $392,021,424 | $13,140,864 |