Promise Academy
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2015 | 149,480 | 77,881 | 71,599 | 11.0 | — |
| 2016 | 219,020 | 147,513 | 71,507 | 11.6 | 63% |
| 2017 | 236,463 | 246,548 | −10,085 | 6.5 | 64% |
| 2018 | 319,808 | 317,798 | 2,010 | 5.1 | 63% |
| 2019 | 161,247 | 189,490 | −28,243 | 6.8 | — |
| 2020 | 1,697,283 | 608,214 | 1,089,069 | 23.6 | 66% |
| 2021 | 918,927 | 836,592 | 82,335 | 18.7 | 64% |
| 2022 | 1,012,585 | 939,087 | 73,498 | 17.2 | 69% |
| 2023 | 971,713 | 1,086,492 | −114,779 | 13.7 | 65% |
In its most recent public year (2023), this organization spent $114,779 more than it brought in. Its reserves stood at about 13.7 months of spending, up from 11 in 2015. Staff pay was 65% of spending.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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