Overview
What is Promise Academy Spring Hill Inc?
Promise Academy Spring Hill Inc, situated in Memphis, Tennessee, is a nonprofit organization dedicated to nurturing and empowering its students. With a mission to educate and inspire, the academy aims to prepare its students to excel in both academic and cultural settings. The school offers an alternative learning environment within the public school system, striving to achieve necessary educational outcomes for its 375 students. The academy's commitment extends beyond academics, focusing on the holistic development of its students, supporting their physical, mental, and spiritual growth. With a team of 71 employees, Promise Academy Spring Hill Inc is devoted to helping its students rise above and succeed in various academic and societal contexts.
Official website here: www.promiseacademy.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Stars)
Promise Academy Spring Hill Inc has received a Three-Star rating from Charity Navigator, indicating a solid performance in accountability and finance. The charity's overall score is primarily derived from a strong accountability and finance score of 81%. This suggests that the organization effectively manages its financial resources and maintains transparency in its operations.
The organization demonstrates several strengths, including having a fully independent board, with all 11 members being independent. Additionally, it scores perfectly in areas like conflict of interest policy, whistleblower policy, and material diversion of assets, showcasing a robust governance framework. The program expense ratio of 84.86% indicates that a significant portion of its budget is allocated directly to its programs, which is a positive sign for potential donors.
While the charity has shown commendable financial practices, the rating does not provide information regarding impact or effectiveness in meeting its mission, which could be a consideration for potential supporters. Overall, the organization appears to have a strong foundation in governance and fiscal responsibility.
This AI summary has been generated from information found on Charity Navigator.
Is Promise Academy Spring Hill Inc legitimate?
Promise Academy Spring Hill Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Promise Academy Spring Hill 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: $2,642,017
For more financial information, click here
Official website here: www.promiseacademy.com
What is the mission statement of Promise Academy Spring Hill Inc?
Promise Academy Spring Hill Inc's mission is centered around educating and inspiring children, encompassing their mental, physical, and spiritual development. The primary goal is to help these children surpass their peers and succeed in various academic and cultural environments. The academy is committed to preparing students for excellence in some of the nation's most rigorous schools. It offers an alternative approach within the public school system, aiming to achieve necessary educational outcomes. In the current year, the academy typically serves around 375 students.
Official website here: www.promiseacademy.com
Who is the CEO of Promise Academy Spring Hill Inc?
Patrick Washington is the President & Chairman of Promise Academy Spring Hill Inc.
Official website here: www.promiseacademy.com
What is the revenue of Promise Academy Spring Hill Inc?
Promise Academy Spring Hill Inc's revenue in 2022 was $6,059,655.
Official website here: www.promiseacademy.com
Who are the executives of Promise Academy Spring Hill Inc and what are their salaries?
The average compensation at Promise Academy Spring Hill Inc during 2022 was $37,212. There are 71 employees at Promise Academy Spring Hill Inc.
Here are 15 key members and their salaries:
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- Other: $19,372
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- Other: $14,221
- Compensation: $118,350
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- Other: $25,231
- Compensation: $105,517
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- Other: $19,480
Official website here: www.promiseacademy.com
Where can I find the form 990 for Promise Academy Spring Hill Inc?
Promise Academy Spring Hill Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.promiseacademy.com
Learn more at the official website: www.promiseacademy.com
Mission Statement of Promise Academy Spring Hill Inc
Promise Academy Spring Hill Inc is dedicated to enriching the intellectual, physical, and spiritual growth of its students. The organization's primary objective is to empower its pupils to excel in various academic and cultural environments. By serving as an alternative within the public school system, Promise Academy aims to help students achieve the necessary educational outcomes. With a commitment to preparing children for success in the nation's most demanding schools, the average annual student attendance at the academy is 375.
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Impact
July, 2024
Promise Academy Spring Hill Inc's impact lies in its dedication to teaching and inspiring the mind, body, and spirit of children so they can excel academically and culturally. By preparing students to succeed in rigorous academic environments, the organization is providing an alternative pathway within the public school system to achieve vital educational goals. With an average attendance of 375 students, Promise Academy is actively working to equip children with the skills and mindset necessary to thrive in any academic setting.
This information is meant to be a general summary of Promise Academy Spring Hill 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 2022.
- Investment Income: $20
- Program Service Revenue: $3,377,482
- Gross Receipts: $6,059,655
Assets and Liabilities:
- Total Assets: $2,943,439
- Total Liabilities: $1,314,613
- Net Assets: $1,628,826
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PER PUPIL ALLOCATION
Revenue
$3,377,482
Organization Details
Founding Year
2014
Phone
(901) 324-4456Principal Officer
Patrick Washington
Main Address
1346 BRYAN STREET, MEMPHIS, TN, 38108
Website
www.promiseacademy.comNTEE Category
Code: B24 - Education
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