Overview
What is New Haven Promise Inc?
New Haven Promise Inc, situated in New Haven, Connecticut, is a dedicated nonprofit organization committed to fostering a college-going culture among local public school students. By motivating students to pursue higher education and guiding them through the application process, this organization aims to create an educated community. They offer summer enrichment programs, connect students with local nonprofits for community service hours, and provide comprehensive financial literacy resources. Furthermore, New Haven Promise manages a volunteer program that assists college-bound students in understanding college costs, aid packages, and admission processes. The organization's primary mission is to construct a culture where students aspire to attend and graduate from college, offering financial incentives and support for those who do, and ultimately facilitating their return to work and serve within the New Haven community. With a team of 12 dedicated individuals, New Haven Promise Inc is making a significant impact on the lives of its students and the community.
Official website here: www.newhavenpromise.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 94%
New Haven Promise Inc has earned a Four-Star out of Four Star rating from Charity Navigator, reflecting a high level of accountability and transparency in its operations. With a strong score of 94% in accountability and finance, the organization demonstrates robust financial health, including no material diversion of assets and an impressive program expense ratio of 93.01%. This indicates that the majority of their funds are directed towards their mission rather than administrative costs.
The charity also excels in its governance practices, boasting a fully independent board and rigorous policies, such as conflict of interest and whistleblower protections. Constituent feedback is highly prioritized, with perfect scores in feedback collection and usage, suggesting that the organization actively engages with and considers the opinions of those it serves.
However, while the scores reflect strong performance, there is room for improvement in equity strategies, where it garnered an 89 out of 100. This suggests that while the organization is committed to equity, it may have areas to develop further in terms of data collection and policy implementation in this domain. Overall, New Haven Promise Inc is a well-rated nonprofit with a dedicated focus on community impact and responsible management.
This AI summary has been generated from information found on Charity Navigator.
Is New Haven Promise Inc legitimate?
New Haven Promise Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Haven Promise 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: $179,208
Professional Fundraising Fees: $72,240
Other Salaries and Wages: $359,914
For more financial information, click here
Official website here: www.newhavenpromise.org
What is the mission statement of New Haven Promise Inc?
New Haven Promise Inc's mission is geared towards fostering a college-focused culture in public schools. The organization aims to motivate students to pursue higher education by providing them with financial incentives and support. Additionally, New Haven Promise facilitates the return of these college graduates to their community, encouraging them to live, work, and serve within it. The organization achieves this by fostering college aspirations, offering financial assistance, and managing community service programs. They also focus on financial literacy, guiding students through the college application process and cost-related aspects.
Official website here: www.newhavenpromise.org
Who is the CEO of New Haven Promise Inc?
Patricia Melton is the President of New Haven Promise Inc.
Official website here: www.newhavenpromise.org
What is the revenue of New Haven Promise Inc?
New Haven Promise Inc's revenue in 2023 was $5,195,298.
Official website here: www.newhavenpromise.org
Who are the executives of New Haven Promise Inc and what are their salaries?
The average compensation at New Haven Promise Inc during 2023 was $44,927. There are 12 employees and 68 volunteers at New Haven Promise Inc.
Here are 9 key members and their salaries:
- Compensation: $163,001
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- Other: $13,851
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- Other: $0
Official website here: www.newhavenpromise.org
Where can I find the form 990 for New Haven Promise Inc?
New Haven Promise Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.newhavenpromise.org
Learn more at the official website: www.newhavenpromise.org
Mission Statement of New Haven Promise Inc
New Haven Promise, a nonprofit organization, is committed to establishing a college-focused environment in local public schools. Its mission is threefold: firstly, it encourages and motivates students to pursue higher education, aiming to admit them into colleges. Secondly, it offers financial incentives and support to these students. Lastly, it facilitates the return of these college graduates to live, work, and contribute to the greater New Haven community.
In practice, New Haven Promise fosters an aspirational college culture among students in local public schools. It encourages students and their families to pledge their commitment to attending and graduating from college. To support this, the organization provides resources and guidance, such as summer enrichment programs and community service opportunities. Moreover, it manages a comprehensive financial literacy campaign, offering assistance with college costs, aid packages, and the admission process. Through these initiatives, New Haven Promise aims to empower students and help them graduate from college, all while fostering a sense of community engagement and service.
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Impact
July, 2024
New Haven Promise Inc has a significant impact on the New Haven community by inspiring students to pursue higher education, providing them with financial incentives and support to attend college, and encouraging them to return to live, work, and serve in the area. Through various initiatives such as fostering a college-going culture, offering summer enrichment programs, facilitating community service opportunities, and promoting financial literacy, New Haven Promise Inc plays a vital role in preparing students for success beyond high school. The organization's efforts help empower students to pursue their educational goals, ultimately benefiting both the individuals and the greater New Haven community.
This information is meant to be a general summary of New Haven Promise 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: $79,750
- Gross Receipts: $5,195,298
Assets and Liabilities:
- Total Assets: $2,057,306
- Total Liabilities: $26,287
- Net Assets: $2,031,019
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FAFSACT
Revenue
$10,000
QU Summer Camp
Revenue
$39,750
Pennington Fellowship Admin
Revenue
$30,000
Organization Details
Founding Year
2015
Phone
(203) 776-6473Principal Officer
Patricia Melton
Main Address
28 Lincoln Way, New Haven, CT, 06510
Website
www.newhavenpromise.orgNTEE Category
Code: P20 - Human services
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