Overview
What is Promise Academy?
Promise Academy is a nonprofit organization situated in Tyler, Texas, specifically at 504 W 32nd St. Established with a mission to cultivate wise, creative, and compassionate leaders, the academy offers Christ-centered education. They provide a solid core curriculum with a focus on phonics, reading comprehension, and mathematics. Their educational approach is hands-on and challenging, enriched by experiential activities, artistic endeavors, and character development. The academy serves a diverse student body, with 82% qualifying for free or reduced lunches and 90% belonging to minority ethnicities. With a team of 29 dedicated employees, Promise Academy strives to contribute positively to its local community in North Tyler.
Official website here: www.promisetyler.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75%, Three-Star out of Four Star Rating
Promise Academy has achieved a Three-Star rating from Charity Navigator, reflecting a solid performance in accountability and finance. The overall score is entirely based on its strong accountability metrics, which emphasize the organization's transparency and governance practices. The charity has maintained a high level of independence among its board members, with 90% being independent, which supports effective oversight and decision-making.
In terms of financial health, Promise Academy has demonstrated responsible management, with a low liabilities to assets ratio of 0.51%. This indicates that the organization is well-positioned to meet its financial obligations. Additionally, the program expense ratio of 65.17% suggests that a significant portion of its resources is allocated towards its mission-related activities.
While Promise Academy has a commendable accountability framework and financial management, there may be areas for improvement seen in its program expense ratio, which could be optimized further. Overall, the organization appears to be making strides in its operations, but continued focus on program efficiency could enhance its impact.
This AI summary has been generated from information found on Charity Navigator.
Is Promise Academy legitimate?
Promise Academy is a legitimate nonprofit organization registered as a 501(c)(3) entity. Promise Academy 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: $60,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $589,441
For more financial information, click here
Official website here: www.promisetyler.org
What is the mission statement of Promise Academy?
Promise Academy's mission is centered around fostering wise, creative, and compassionate leaders. They achieve this through a Christ-centered education approach, aiming to bring joy and glory to the community. The academy emphasizes holistic development, providing a solid curriculum with a focus on phonics, reading comprehension, numeracy, and mathematics. This foundation is enriched with experiential activities, artistic endeavors, and character cultivation and formation. The academy serves a diverse student body, with 82% qualifying for free or reduced lunch and 90% belonging to minority ethnicities.
Official website here: www.promisetyler.org
Who is the CEO of Promise Academy?
Alan Cumming is the Head Of School of Promise Academy.
Official website here: www.promisetyler.org
What is the revenue of Promise Academy?
Promise Academy's revenue in 2022 was $1,012,585.
Official website here: www.promisetyler.org
Who are the executives of Promise Academy and what are their salaries?
The average compensation at Promise Academy during 2022 was $22,395. There are 29 employees and 50 volunteers at Promise Academy.
Here are 12 key members and their salaries:
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Official website here: www.promisetyler.org
Where can I find the form 990 for Promise Academy?
Promise Academy's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.promisetyler.org
Learn more at the official website: www.promisetyler.org
Mission Statement of Promise Academy
Promise Academy, a nonprofit organization, is dedicated to nurturing intelligent, imaginative, and compassionate leaders through exceptional Christian education. The academy operates with the belief that education should go beyond academics and encompass the whole child, integrating systematic phonics and reading comprehension instruction, numeracy, and mastered mathematics. This rigorous curriculum is supplemented with experiential activities, artistic pursuits, and character development and formation.
Promise Academy serves a diverse student body, with 82% qualifying for free or reduced lunch and 90% belonging to minority ethnicities. The academy's mission is not just about providing education but also fostering a community that cultivates wisdom, creativity, and compassion. By doing so, Promise Academy aims to contribute positively to its community and bring glory to God. The academy's approach to education is grounded in its Christian beliefs, aiming to develop well-rounded individuals who can make a positive impact in their city and beyond.
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Impact
October, 2024
Promise Academy significantly impacts the North Tyler community by offering an exemplary Christ-centered education that nurtures wise, creative, and compassionate leaders. In its seventh year of operation, the academy has successfully graduated its second class of fifth graders, highlighting its commitment to long-term educational success. With 72 students enrolled, Promise Academy emphasizes an enriching curriculum that integrates explicit phonics, reading comprehension, numeracy, and mastery of mathematics. This robust academic foundation is complemented by experiential learning, artistic pursuits, and character development, ensuring a holistic approach to education.
The demographic makeup of the academy underscores its importance: 82% of students qualify for free or reduced lunch, and 90% come from minority ethnic backgrounds. Promise Academy not only addresses educational needs but also fosters a sense of community and belonging among families who may otherwise face systemic barriers. Through its focused mission, Promise Academy contributes to the joy of the city and the glory of God, creating pathways for students to thrive academically and personally.
This information is meant to be a general summary of Promise Academy. 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.
- Investment Income: $8,007
- Program Service Revenue: $69,009
- Gross Receipts: $1,037,471
Assets and Liabilities:
- Total Assets: $1,347,405
- Total Liabilities: $2,377
- Net Assets: $1,345,028
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ACADEMIC TUITION
Revenue
$68,989
EXTENDED CARE
Revenue
$20
Organization Details
Founding Year
2014
Phone
(903) 630-7369Principal Officer
Alan Cumming
Main Address
504 W 32nd St, TYLER, TX, 75702
Website
www.promisetyler.orgNTEE Category
Code: B20 - Education
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