Overview
What is Promise Resource Network Inc?
Promise Resource Network Inc is a nonprofit organization based in Charlotte, North Carolina, with 68 employees. Their mission is to empower recovery from emotional distress, mental health, and substance use challenges. They aim to create opportunities for individual and familial recovery, foster a recovery-oriented behavioral health system, and expand the network of recovery champions. By leveraging the wisdom of personal recovery experiences, they strive to ignite social change, instill hope, and serve as a catalyst for personal growth. Their initiatives involve partnering with various sectors, including colleagues, families, peers, clinicians, organizations, governments, and communities. Their work is geared toward advancing a recovery-focused system, where recovery is valued, expected, and supported.
Official website here: www.promiseresourcenetwork.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 85% (Three-Star out of Four Star rating)
Promise Resource Network Inc has received a solid Three-Star rating from Charity Navigator, indicating a strong performance in terms of accountability and finance. The organization demonstrates a high level of transparency and governance, with 80% of its board members being independent. It has also scored full points in critical areas such as financial oversight and conflict of interest policies, showcasing a commitment to ethical management.
Financially, the organization stands out with a program expense ratio of 98.24%, meaning that a significant portion of its resources is directed toward its programs rather than administrative costs. This high percentage reflects effective use of funds to achieve its mission. The presence of established policies for whistleblower protection, document retention, and regular documentation of board meetings further underscores its commitment to responsible stewardship.
While the rating is commendable, potential donors may want to consider any future developments or changes in the organization that could impact its operations. Overall, Promise Resource Network Inc appears to be a reliable nonprofit with strong governance and a focus on mission-driven outcomes.
This AI summary has been generated from information found on Charity Navigator.
Is Promise Resource Network Inc legitimate?
Promise Resource Network Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Promise Resource Network 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: $150,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,861,361
For more financial information, click here
Official website here: www.promiseresourcenetwork.org
What is the mission statement of Promise Resource Network Inc?
The Promise Resource Network Inc's mission, as per their statement, is centered around harnessing the power of lived recovery experiences to drive social change, instill hope, and act as a catalyst for personal growth. Their aim is to initiate transformation in the realm of emotional distress, mental health, and substance use challenges. They achieve this by partnering with a diverse range of individuals and groups, including peers, clinicians, organizations, and communities, to create opportunities for recovery and develop a recovery-oriented behavioral health system. Furthermore, they strive to expand their network of recovery champions by offering training, consultation, and technical assistance to clinicians and organizations as they build their recovery knowledge, skills, and tools.
Official website here: www.promiseresourcenetwork.org
Who is the CEO of Promise Resource Network Inc?
Cherene Caraco is the Executive Director of Promise Resource Network Inc.
Official website here: www.promiseresourcenetwork.org
What is the revenue of Promise Resource Network Inc?
Promise Resource Network Inc's revenue in 2023 was $4,071,307.
Official website here: www.promiseresourcenetwork.org
Who are the executives of Promise Resource Network Inc and what are their salaries?
The average compensation at Promise Resource Network Inc during 2023 was $29,579. There are 68 employees at Promise Resource Network Inc.
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.promiseresourcenetwork.org
Where can I find the form 990 for Promise Resource Network Inc?
Promise Resource Network Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.promiseresourcenetwork.org
Learn more at the official website: www.promiseresourcenetwork.org
Mission Statement of Promise Resource Network Inc
Promise Resource Network Inc, an organization rooted in the insights of personal recovery, strives to foster social change, instill hope, and serve as a driving force for individual growth. Their mission is geared towards igniting social transformation, inspiring hope, and acting as a catalyst for personal greatness.
By harnessing the power of lived recovery experiences, Promise Resource Network Inc partners with various stakeholders to advance recovery from emotional distress, mental health, and substance use challenges. They create opportunities for individual and familial recovery, work towards establishing a recovery-oriented behavioral health system, and expand the network of recovery champions.
Their initiatives aim to build recovery knowledge, skills, and tools within clinicians and organizations as they strive to create a system that values, expects, supports, and funds recovery. Promise Resource Network Inc serves as a valuable resource, offering training, consultation, and technical assistance to help others in their journey towards recovery.
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Impact
June, 2024
Promise Resource Network Inc's impact is significant in igniting social change, inspiring hope, and serving as a catalyst for personal greatness. Through the wisdom of lived recovery experience, they empower individuals and families facing emotional distress, mental health, and substance use challenges to pursue recovery. Their diverse initiatives aim to create opportunities for personal and familial recovery, develop a recovery-oriented behavioral health system, and expand the network of recovery champions through training and consultation. By partnering with various stakeholders and advocating for a recovery-focused approach, Promise Resource Network Inc contributes to building a supportive and inclusive community for those in need.
This information is meant to be a general summary of Promise Resource Network 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.
- Program Service Revenue: $4,045,726
- Gross Receipts: $4,071,307
Assets and Liabilities:
- Total Assets: $4,635,428
- Total Liabilities: $3,649,538
- Net Assets: $985,890
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Support Services
Revenue
$4,045,726
Organization Details
Founding Year
2014
Principal Officer
Cherene Caraco
Main Address
2224 The Plaza, Charlotte, NC, 28205
NTEE Category
Code: F30 - Mental health
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