Overview
What is Promesa Foundation Inc?
Promesa Foundation Inc, based in Bronx, New York, serves as a development arm for the Acacia Network, a leading organization in the health and human services sector. The Foundation's primary goal is to raise funds for various operating programs within Acacia Network, aiming to provide services in health, education, employment, housing, and economic and community development. By doing so, Promesa Foundation Inc aims to expand its reach and increase the number of clients served, as well as secure partnerships with the corporate sector. The Foundation provides fiscal and administrative office space to Acacia Network, thereby enhancing the available treatment area. In short, Promesa Foundation Inc is a key player in supporting the Acacia Network's mission to uplift underserved communities and improve the quality of life for its members.
Official website here: www.acacianetwork.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 85% (Three-Star out of Four Stars)
Promesa Foundation Inc has received a solid Three-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization scored 85% overall, with its evaluation based solely on its accountability and finance metrics. This high score signifies that Promesa Foundation Inc adheres to best practices in financial management and governance.
The foundation demonstrates notable strengths, including having a fully independent board of directors, comprehensive financial oversight, and a robust conflict of interest policy. Additionally, it maintains transparency by listing its tax forms and board meeting minutes on its website, which enhances its credibility and trustworthiness among donors and stakeholders.
While the organization's high program expense ratio of over 90% indicates effective allocation of resources towards its mission, the overall rating leaves little room for improvement. Continued focus on maintaining transparency and accountability will be crucial as it navigates future challenges and opportunities for growth.
This AI summary has been generated from information found on Charity Navigator.
Is Promesa Foundation Inc legitimate?
Promesa Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Promesa Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.acacianetwork.org
What is the mission statement of Promesa Foundation Inc?
Promesa Foundation Inc's mission is to support Acacia Network's various programs aimed at providing services in health, education, employment, housing, and economic and community development. Established as a development arm for the entire Acacia Network organization, the foundation's goal is to generate funding and partnerships with the corporate sector to sustain and expand its operations. By being a leader in the health and human services arena, Acacia Network, with the help of Promesa Foundation, aims to offer a range of services in health, education, employment, economic and community development, and housing activities.
Official website here: www.acacianetwork.org
Who is the CEO of Promesa Foundation Inc?
Lymaris Albors is the CEO of Promesa Foundation Inc The CEO's salary of Promesa Foundation Inc is $0 and their total compensation is $842,965.
Official website here: www.acacianetwork.org
What is the revenue of Promesa Foundation Inc?
Promesa Foundation Inc's revenue in 2023 was $3,174,360.
Official website here: www.acacianetwork.org
Who are the executives of Promesa Foundation Inc and what are their salaries?
The average compensation at Promesa Foundation Inc during 2023 was $107,070. There 4 volunteers at Promesa Foundation Inc.
Here are 8 key members and their salaries (Promesa Foundation Inc's CEO's salary is $0 and their total compensation is $842,965):
- Compensation: $0
- Related: $909,372
- Other: $70,634
- Compensation: $0
- Related: $803,886
- Other: $39,079
- Compensation: $0
- Related: $602,553
- Other: $37,084
- Compensation: $0
- Related: $454,869
- Other: $42,707
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.acacianetwork.org
Where can I find the form 990 for Promesa Foundation Inc?
Promesa Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.acacianetwork.org
Learn more at the official website: www.acacianetwork.org
Mission Statement of Promesa Foundation Inc
The Promesa Foundation Inc, a development arm for the Acacia Network, is dedicated to raising funds for various operating programs within the organization. Its primary mission is to provide services in health, education, employment, housing, and economic and community development. By developing streams of funding and partnerships with the corporate sector, the Promesa Foundation aims to support and expand Acacia Network's operations, making it a leader in the health and human services arena. The Foundation's ultimate goal is to empower the Acacia Network to deliver a comprehensive array of services that cater to the needs of individuals and communities, thereby contributing significantly to their overall well-being and development.
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Impact
June, 2024
Promesa Foundation Inc's impact is significant in supporting the diverse operating programs of Acacia Network, aimed at providing essential services in health, education, employment, housing, and economic and community development. By raising funds and establishing partnerships with the corporate sector, the foundation plays a crucial role in increasing the treatment areas available and expanding the reach of services offered to clients. This proactive approach not only enhances the operations of Acacia Network but also helps the organization to lead in the health and human services arena. The foundation's focus on mental health issues further underscores its commitment to addressing critical community needs and promoting well-being.
This information is meant to be a general summary of Promesa Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $94,254
- Program Service Revenue: $2,652,241
- Gross Receipts: $3,658,362
Assets and Liabilities:
- Total Assets: $28,348,325
- Total Liabilities: $22,302,507
- Net Assets: $6,045,818
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$2,652,241
Organization Details
Founding Year
1985
Principal Officer
Lymaris Albors
Website
www.acacianetwork.orgNTEE Category
Code: F22I - Mental health
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