Overview
What is Promise Cares?
Promise Cares is a nonprofit organization situated in Memphis, Tennessee, with the primary source of revenue coming from Veterans' medical benefits. Their mission is to offer a safe haven for senior citizens, ensuring they receive the appropriate care. This includes providing resources and a supportive environment to enhance their well-being. The organization's activities are focused on ensuring the senior citizens under their care receive the best possible care and support.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (66%)
Promise Cares has received a two-star rating from Charity Navigator, indicating that the organization is in a "Needs Improvement" category. While it maintains a strong governance structure with 100% independent board members and solid financial statements, it falls short in several other areas, particularly in transparency and accountability measures.
The organization has performed well in some financial metrics, including a favorable liabilities to assets ratio of 44.65% and a program expense ratio of 57.10%, which suggests a commitment to programmatic spending. However, there are significant gaps in governance practices, such as missing policies for conflict of interest, whistleblowing, and document retention. Additionally, the nonprofit's website is not listed on its tax form, and key documents have not been made publicly available.
Overall, while Promise Cares demonstrates strengths in board independence and financial oversight, the absence of critical policies and transparency may hinder its operational effectiveness and public trust. Addressing these shortcomings could enhance the organization's accountability and improve its rating in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Promise Cares legitimate?
Promise Cares is a legitimate nonprofit organization registered as a 501(c)(3) entity. Promise Cares 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: $411,955
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What is the mission statement of Promise Cares?
Promise Cares' mission is centered around providing a safe sanctuary for senior citizens, ensuring they receive the necessary care. The organization's primary objective is to create an environment where elderly adults can reside securely and receive appropriate healthcare services. The primary source of revenue for Promise Cares is through Veterans Affairs Medical Benefits, while payroll also contributes to its operation.
Who is the CEO of Promise Cares?
Jeaneen Shelton is the Principal Officer of Promise Cares.
What is the revenue of Promise Cares?
Promise Cares's revenue in 2022 was $542,288.
Who are the executives of Promise Cares and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $94,847
- Related: $0
- Other: $0
- Compensation: $100,000
- Related: $0
- Other: $0
Where can I find the form 990 for Promise Cares?
Promise Cares's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Promise Cares
Promise Cares, a nonprofit organization, is dedicated to providing a sanctuary where senior citizens can receive the necessary care they deserve. Its mission is centered around creating a safe environment for these adults, ensuring they receive the appropriate level of support. The primary source of revenue for Promise Cares is derived from Veterans Affairs Medical Benefits, while payroll also contributes to its operations. The organization's purpose is to offer a secure and nurturing environment where senior citizens can access the care they need, enhancing their quality of life.
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Impact
July, 2024
Promise Cares provides a safe haven for senior citizens to receive appropriate care in Memphis, Tennessee. Its impact is felt through the provision of quality care and support for elderly individuals, many of whom rely on VA medical benefits as the primary source of revenue for their care. Additionally, Promise Cares contributes to the community by offering housing options for seniors in need of assistance and support.
This information is meant to be a general summary of Promise Cares. 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.
- Program Service Revenue: $542,288
- Gross Receipts: $542,288
Assets and Liabilities:
- Total Assets: $195,441
- Total Liabilities: $160,000
- Net Assets: $35,441
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INSURANCE PAYMENTS
Revenue
$478,534
VA MEDICAL CENTER
Revenue
$63,754
Organization Details
Founding Year
2015
Principal Officer
Jeaneen Shelton
Main Address
3430 OVERTON CROSSING, MEMPHIS, TN, 381275748
NTEE Category
Code: L22 - Housing
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