Promises2kids Foundation
- Assets
- $19.9m
- Revenue
- $9.4m
- Investments
- $13.7m
- Employees
- 69
- Location
- San Diego, CA
- Founding
- 02/1982
- Data as of
- 06/2023
- EIN
- 95-3655288
Organization Overview
Promises2kids Foundation is located in San Diego, CA. The organization was established in 1982. According to its NTEE Classification (I72) the organization is classified as: Child Abuse Prevention, under the broad grouping of Crime & Legal-Related and related organizations. As of 06/2023, Promises2kids Foundation employed 69 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Promises2kids Foundation 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 06/2023, Promises2kids Foundation generated $9.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.5% each year . All expenses for the organization totaled $8.0m during the year ending 06/2023. While expenses have increased by 11.6% per year over the past 7 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.
Since 2015, Promises2kids Foundation has awarded 20 individual grants totaling $1,556,042. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CREATING A BRIGHTER FUTURE FOR FOSTER CHILDREN
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOLLOWING IS A BRIEF DESCRIPTION OF THE FOUNDATION'S PROGRAMS:A.B. AND JESSIE POLINSKY CHILDREN'S CENTER - PREVIOUSLY THE FOUNDATION RAISED $12 MILLION TO BUILD THE A.B.AND JESSIE POLINSKY CHILDREN'S CENTER (THE POLINSKY CENTER), SAN DIEGO COUNTY'S EMERGENCY SHELTER FOR ABUSED AND NEGLECTED CHILDREN. IN OCTOBER 1994, THE FOUNDATION DEEDED THE FACILITY TO THE COUNTY. THE POLINSKY CENTER OFFERS A FULL RANGE OF ASSESSMENT AND CARE PROGRAMS TO MORE THAN 1,000 CHILDREN EVERY YEAR. THE FOUNDATION CONTINUES TO SUPPORT THE POLINSKY CENTER BY RAISING FUNDS FOR THE URGENT AND LONG-TERM NEEDS OF THE YOUNG RESIDENTS DURING THEIR STAY. THE FOLLOWING ARE JUST A FEW EXAMPLES OF THE PROGRAMS AND PROJECTS AT THE POLINSKY CENTER SUPPORTED BY THE FOUNDATION DURING THE YEAR ENDED JUNE 30, 2023. SEE SCHEDULE O FOR ADDITIONAL DETAILS. KIDSTART YOUTH2YOUTH ADVOCATES PROGRAM HEALTH, RECREATION, AND WELLNESS PROGRAMGUARDIAN SCHOLARS - GUARDIAN SCHOLARS IS A SCHOLARSHIP AND SUPPORT PROGRAM THAT WAS ESTABLISHED TO ASSIST CURRENT AND FORMER FOSTER YOUTH TO FURTHER THEIR EDUCATION OR PREPARE FOR A CAREER AND BECOME SUCCESSFUL, INDEPENDENT ADULTS. THE PROGRAM IS MUCH MORE THAN JUST FINANCIAL AID - IT IS AN INVESTMENT IN THE FUTURE OF EACH INDIVIDUAL RECIPIENT. GUARDIAN SCHOLARS PROVIDES MULTIFACETED SUPPORT THROUGH MENTORING, CAREER AND VOCATIONAL TRAINING, TUTORING, COLLEGE PLANNING, FINANCIAL AID, COLLEGE APPLICATION WORKSHOPS, AND CASE MANAGEMENT.CAMP CONNECT - THE FOUNDATION PROVIDES SIBLINGS IN FOSTER CARE, WHO ARE PLACED IN SEPARATE HOMES, THE OPPORTUNITY TO RECONNECT THROUGH A FOUR-DAY SUMMER CAMP, AS WELL AS RECREATIONAL AND EDUCATIONAL DAY CAMP ACTIVITIES THROUGHOUT THE YEAR. CAMP CONNECT ALLOWS BROTHERS AND SISTERS TO MAINTAIN CRITICAL RELATIONSHIPS AND GAIN SUPPORT FROM EACH OTHER DURING THIS DIFFICULT TIME. THIS PROGRAM IS A PARTNERSHIP WITH HEALTH & HUMAN SERVICES AGENCY OF SAN DIEGO COUNTY.FOSTER FUNDS - THE FOUNDATION UNDERSTANDS THAT FOSTER CHILDREN OFTEN FEEL ALONE AND ISOLATED. THEY MAY GO WITHOUT SIMPLE PLEASURES OF CHILDHOOD SUCH AS BIRTHDAY GIFTS, CAP AND GOWN FOR GRADUATION, A SPORTS UNIFORM OR A MUSICAL INSTRUMENT. WE ENSURE FOSTER CHILDREN KNOW THAT THEY TOO ARE HEARD, SPECIAL AND DESERVING. THE FOUNDATION HAS SPECIAL FUNDS SET UP TO SUPPORT THESE NEEDS NOT MET THROUGH TYPICAL FUNDING, WHICH INCLUDE SOMETHING SPECIAL FUND, BIRTHDAY CLUB, AND COMMUNITY DRIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Merrilee Neal Immediate Past Chair | OfficerTrustee | 0.5 | $0 |
Emily Green Lake Secretary | OfficerTrustee | 0.5 | $0 |
Joan Waitt Chair | OfficerTrustee | 0.5 | $0 |
Andrew Bolinger Treasurer | OfficerTrustee | 0.5 | $0 |
Danielle C Humphries Executive Member | OfficerTrustee | 0.5 | $0 |
Nina Ovalle Member At Large | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $964,600 |
| Related organizations | $0 |
| Government grants | $190,260 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,214,392 |
| Noncash contributions included in lines 1a–1f | $440,340 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,369,252 |
| Total Program Service Revenue | $0 |
| Investment income | $29,843 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $400,110 |
| Net Income from Fundraising Events | $575,798 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,405,403 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $306,334 |
| Grants and other assistance to domestic individuals. | $928,112 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $310,699 |
| Compensation of current officers, directors, key employees. | $10,752 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,004,681 |
| 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 | $17,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $61,516 |
| Fees for services: Other | $0 |
| Advertising and promotion | $130,900 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $61,655 |
| 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 | $128,042 |
| Insurance | $30,099 |
| All other expenses | $1,177,798 |
| Total functional expenses | $8,020,515 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,027,460 |
| Savings and temporary cash investments | $913,749 |
| Pledges and grants receivable | $2,032,031 |
| 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 | $297,907 |
| Net Land, buildings, and equipment | $938,558 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $13,697,052 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $19,906,757 |
| Accounts payable and accrued expenses | $247,573 |
| Grants payable | $0 |
| Deferred revenue | $152,626 |
| 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 | $400,199 |
| Net assets without donor restrictions | $13,189,705 |
| Net assets with donor restrictions | $6,316,853 |
| 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 | $19,906,757 |
Grants Awarded
Over the last fiscal year, Promises2kids Foundation has awarded $306,334 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
HEALTHY ADVENTURES FOUNDATION PURPOSE: ENHANCEMENT | $111,666 |
RADY'S CHILDREN HOSPITAL PURPOSE: ENHANCEMENT | $194,668 |