Overview
What is La Promise Fund?
The La Promise Fund is a nonprofit organization based in Los Angeles, California, specifically at 1933 S Broadway Suite 1108. Their mission revolves around preparing students in Los Angeles County for success in college, career, and life. They achieve this through a network of high-performing, community-based schools and a range of programs. The La Promise Fund builds vibrant community hubs and partnerships, nurturing motivated, engaged, and focused students, poised for academic, professional, and personal triumph. With a team of 132 employees, they are dedicated to transforming students' lives by working in collaboration with local schools and implementing a portfolio of high-impact programs.
Official website here: www.lapromisefund.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 90% (Four-Star out of Four Star rating)
La Promise Fund has achieved a high rating of 90%, reflecting its strong commitment to accountability and financial management, as well as its impactful programming. The organization scored especially well in the categories of Impact & Measurement, receiving a perfect score of 100, indicating that it effectively evaluates and demonstrates the impact of its initiatives. Additionally, the fund maintains high standards of accountability, with a score of 84, showcasing thorough financial oversight.
The organization boasts a fully independent board with 22 members, which strengthens its governance and decision-making processes. Financially, La Promise Fund demonstrates efficiency, with an impressive program expense ratio of 83.30% and low fundraising costs, indicating that the majority of funds raised directly support its programs. The nonprofit also adheres to various policies that enhance transparency and ethical governance, further enhancing its credibility.
However, while La Promise Fund excels in many areas, its Culture & Community score of 75 suggests there may be room for improvement in fostering a more inclusive organizational culture or community engagement. Despite this, the overall performance reflects a well-managed organization dedicated to its mission and effective in its operations.
This AI summary has been generated from information found on Charity Navigator.
Is La Promise Fund legitimate?
La Promise Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. La Promise Fund 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: $289,147
Professional Fundraising Fees: $0
Other Salaries and Wages: $6,470,305
For more financial information, click here
Official website here: www.lapromisefund.org
What is the mission statement of La Promise Fund?
The La Promise Fund is committed to helping students in Los Angeles succeed in their academic, professional, and personal lives. They achieve this goal by collaborating with high-performing community-based schools and offering a range of impactful programs. Through these efforts, the La Promise Fund fosters motivated, engaged, and focused students, setting them up for future success. The organization creates vibrant community hubs and partnerships that provide essential resources and support for students throughout Los Angeles County.
Official website here: www.lapromisefund.org
Who is the CEO of La Promise Fund?
Veronica Melvin is the Co-Chair of La Promise Fund. The CEO's salary of La Promise Fund is $205,392 and their total compensation is $229,970.
Official website here: www.lapromisefund.org
What is the revenue of La Promise Fund?
La Promise Fund's revenue in 2022 was $15,071,176.
Official website here: www.lapromisefund.org
Who are the executives of La Promise Fund and what are their salaries?
The average compensation at La Promise Fund during 2022 was $51,208. There are 132 employees and 150 volunteers at La Promise Fund.
Here are 28 key members and their salaries (La Promise Fund's CEO's salary is $205,392 and their total compensation is $229,970):
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- Compensation: $205,392
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- Other: $11,028
- Compensation: $144,336
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- Other: $11,932
Official website here: www.lapromisefund.org
Where can I find the form 990 for La Promise Fund?
La Promise Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lapromisefund.org
Learn more at the official website: www.lapromisefund.org
Mission Statement of La Promise Fund
La Promise Fund, a dedicated organization, focuses on preparing Los Angeles students for academic, professional, and personal success. Through a network of high-performing, community-based schools and a portfolio of high-impact programs, the Fund fosters motivated and engaged students. By creating vibrant community hubs and partnerships, La Promise Fund empowers students to excel in their academic pursuits and prepares them for successful careers. The organization's efforts reach students throughout Los Angeles County, ensuring a wide impact on the local community. With a commitment to transforming lives, La Promise Fund is a beacon of hope for students striving to reach their full potential.
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Impact
October, 2024
La Promise Fund has a significant impact on preparing Los Angeles students for success in college, career, and life. Through a robust network of high-performing, community-based schools, it provides a range of programs that reach students across LA County. This initiative fosters engaged, motivated, and focused students, creating vibrant community hubs that nurture academic and professional growth.
By forming partnerships with these schools, La Promise Fund ensures that students gain access to resources and support systems that enhance their educational experience. The focus on tailored programs helps in equipping students with essential skills and knowledge, ultimately contributing to their personal success and readiness for future challenges in various life domains. Its holistic approach not only enhances educational outcomes but also uplifts communities, fostering a sense of belonging and motivation among students.
This information is meant to be a general summary of La Promise Fund. 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 2022.
- Gross Receipts: $16,211,110
Assets and Liabilities:
- Total Assets: $49,429,202
- Total Liabilities: $41,884,537
- Net Assets: $7,544,665
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Organization Details
Founding Year
2005
Phone
(213) 745-4928Principal Officer
Veronica Melvin
Main Address
1933 S BROADWAY SUITE 1108, LOS ANGELES, CA, 90007
Website
www.lapromisefund.orgNTEE Category
Code: B82 - Education
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