Overview
What is Providence Promise C/O Daniel Baudouin?
Providence Promise C/O Daniel Baudouin is a nonprofit organization based in Providence, Rhode Island, dedicated to supporting the higher education aspirations of local public school students. They operate through a multifaceted approach, encouraging early enrollment in school, promoting college savings accounts, and advocating for financial literacy. Upon enrollment, families open a 529 college savings account for each child and contribute a portion of their income. Providence Promise contributes an initial $100 to each account and offers incentives for achieving certain goals. The organization also fosters ongoing family engagement through events, workshops, college visits, and a parent council that helps shape program changes and future topics. Their mission is to reduce the financial burden of higher education by working with students and their families to identify suitable educational choices and securing all available financial aid.
Official website here: www.pvdpromise.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 90%, Four-Star out of Four Star rating.
Providence Promise has earned a strong Four-Star rating from Charity Navigator due to its impressive 90% score, reflecting excellent accountability and financial health. The rating is based solely on a comprehensive analysis of its financial practices and governance, demonstrating the organization’s commitment to transparency and responsible management of resources.
The organization showcases notable strengths, including a fully independent board with 18 members and a robust audit and oversight committee. It maintains a low liabilities-to-assets ratio of 43.01%, indicating sound financial stability. Furthermore, all significant governance policies, such as conflict of interest and whistleblower protections, are documented and accessible, which enhances its credibility and operational integrity.
However, while the program expense ratio at 68.06% indicates a healthy allocation of funds toward its mission, it falls slightly short of the highest standards. This ratio is still commendable, suggesting that Providence Promise effectively channels its resources into impactful programs. Overall, the organization demonstrates strong governance and financial practices, positioning it as a trustworthy nonprofit in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Providence Promise C/O Daniel Baudouin legitimate?
Providence Promise C/O Daniel Baudouin is a legitimate nonprofit organization registered as a 501(c)(3) entity. Providence Promise C/O Daniel Baudouin 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: $91,800
Professional Fundraising Fees: $0
Other Salaries and Wages: $349,245
For more financial information, click here
Official website here: www.pvdpromise.org
What is the mission statement of Providence Promise C/O Daniel Baudouin?
Providence Promise aims to foster high educational aspirations and more equitable opportunities for students in public schools by advocating for college savings accounts and family engagement. They strive to increase financial literacy and reduce the financial burden of higher education. This is achieved through an enrollment process where parents enroll their children by entering the public school system, contributing a percentage of their income into a 529 college savings account, and participating in family engagement and financial literacy workshops. Providence Promise also offers incentives for families and children to build their college savings and provides assistance in identifying and securing financial aid for higher education.
Official website here: www.pvdpromise.org
What is the revenue of Providence Promise C/O Daniel Baudouin?
Providence Promise C/O Daniel Baudouin's revenue in 2024 was $811,416.
Official website here: www.pvdpromise.org
Who are the executives of Providence Promise C/O Daniel Baudouin and what are their salaries?
The average compensation at Providence Promise C/O Daniel Baudouin during 2024 was $40,095. There are 11 employees and 20 volunteers at Providence Promise C/O Daniel Baudouin.
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- Compensation: $97,111
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- Other: $8,406
Official website here: www.pvdpromise.org
Where can I find the form 990 for Providence Promise C/O Daniel Baudouin?
Providence Promise C/O Daniel Baudouin's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.pvdpromise.org
Learn more at the official website: www.pvdpromise.org
Mission Statement of Providence Promise C/O Daniel Baudouin
Providence Promise C/O Daniel Baudouin is an organization dedicated to promoting high educational aspirations and more equitable opportunities for students in Providence Public Schools. Their mission is multifaceted, involving advocacy for college savings accounts, family engagement, financial literacy, and reducing the financial burden of higher education.
At the core of Providence Promise's mission is the belief in the importance of early planning for higher education. They encourage parents or guardians to enroll their children in a 529 college savings account as soon as they enter the public school system. Once enrolled, families are expected to contribute an average of 1% of their gross annual household income into each child's account for up to 15 years. Providence Promise also provides an initial contribution of $100 to each child's account and offers incentives for families and children to achieve certain goals, thereby building their college savings.
Beyond financial planning, Providence Promise also emphasizes family engagement and financial literacy. They facilitate ongoing engagement through school-based events, workshops, college visits, referrals to college access programs, and a dedicated parent council. This council, composed of parent leaders, informs program changes, future workshop topics, and helps plan events, ensuring that families are actively involved in their children's educational journey.
In addition, Providence Promise works with each student and their family to identify the best higher education choices based on their needs and goals. They also assist in securing all available financial aid, including funds that may be raised by Providence Promise itself. By taking a holistic approach, Providence Promise C/O Daniel Baudouin aims to reduce the financial burden of higher education for Providence Public School students and their families.
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Impact
July, 2024
Providence Promise, under the stewardship of Daniel Baudouin, has had a significant impact on Providence public school students. By advocating for college savings accounts and family engagement, increasing financial literacy, and reducing the burden of higher education costs, Providence Promise has been instrumental in promoting high educational aspirations and more equitable opportunities for these students. Through its unique multi-pronged structure, the organization addresses the challenges faced by Providence students in pursuing higher education, starting from early enrollment and continuing to provide support throughout their educational journey. Additionally, the emphasis on family engagement and financial literacy ensures that students and their families are equipped with the necessary tools to make informed decisions about their education and financial future. Overall, Providence Promise's efforts have had a tangible and positive impact on the educational trajectories of Providence public school students, setting them up for success in higher education.
This information is meant to be a general summary of Providence Promise C/O Daniel Baudouin. 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 2024.
- Investment Income: $6,734
- Gross Receipts: $811,416
Assets and Liabilities:
- Total Assets: $688,834
- Total Liabilities: $296,334
- Net Assets: $392,500
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Organization Details
Founding Year
2014
Principal Officer
James Vincent
Website
www.pvdpromise.orgNTEE Category
Code: B82 - Education
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