Overview
What is Richmond Promise Inc?
Richmond Promise Inc, established in 2016, is a community-driven initiative based in Richmond, California, aimed at fostering a college-going culture. Believing in equal opportunities for education, the organization supports students regardless of their race, income level, or background. Their mission is to ensure all Richmond students can develop their skills, attain higher education, thrive in their chosen fields, and become community leaders. They achieve this through a college scholarship, collaborative partnerships, and supportive programming. The Richmond Promise Scholarship offers $1,500 annually to students enrolled in not-for-profit community colleges, 4-year colleges, or career technical education programs. The organization operates at three crucial stages: pre-college, high school to college transition, and first-year college success. They build college awareness among middle schoolers, ensure college access and affordability, and provide post-secondary degree support and resources to students, leveraging partnerships with local schools, colleges, and mentors.
Official website here: www.richmondpromise.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%, Four-Star out of Four Stars
Richmond Promise Inc has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and financial health. The organization scored a perfect 100% in several key areas, including the independence of its board members and the absence of material diversion of assets. This high score illustrates Richmond Promise's adherence to best practices for financial management and governance.
The charity's program expense ratio stands at 91.26%, indicating that a significant majority of its expenses are directed towards its programs rather than administrative costs. This focus on programmatic spending demonstrates the organization’s dedication to maximizing the impact of its resources on the community it serves. Additionally, the presence of policies for conflict of interest, whistleblower protection, and document retention further enhances its operational transparency.
Overall, Richmond Promise Inc exhibits robust financial oversight and a commitment to accountability, positioning it as a trustworthy nonprofit. However, while the data highlights its strengths, potential donors may still want to consider the specific programs and outcomes associated with the charity's initiatives to fully understand its impact.
This AI summary has been generated from information found on Charity Navigator.
Is Richmond Promise Inc legitimate?
Richmond Promise Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Richmond 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: $152,871
Professional Fundraising Fees: $0
Other Salaries and Wages: $407,803
For more financial information, click here
Official website here: www.richmondpromise.org
What is the mission statement of Richmond Promise Inc?
Richmond Promise Inc's mission is centered around promoting educational equity. Their goal is to eliminate obstacles and establish pathways, ensuring that all students in Richmond have access to high-quality education. They strive to help these students excel from high school to higher education, obtain a post-secondary degree or certification, and ultimately thrive in their chosen careers. Furthermore, the organization aims to foster these students into becoming leaders of positive change in their community and beyond.
Official website here: www.richmondpromise.org
Who is the CEO of Richmond Promise Inc?
Christopher Whitmore is the Chair of Richmond Promise Inc.
Official website here: www.richmondpromise.org
What is the revenue of Richmond Promise Inc?
Richmond Promise Inc's revenue in 2022 was $881,299.
Official website here: www.richmondpromise.org
Who are the executives of Richmond Promise Inc and what are their salaries?
The average compensation at Richmond Promise Inc during 2022 was $80,096. There are 7 employees and 60 volunteers at Richmond Promise Inc.
Here are 11 key members and their salaries:
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- Compensation: $143,100
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- Other: $9,770
Official website here: www.richmondpromise.org
Where can I find the form 990 for Richmond Promise Inc?
Richmond Promise Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.richmondpromise.org
Learn more at the official website: www.richmondpromise.org
Mission Statement of Richmond Promise Inc
Richmond Promise Inc, a nonprofit organization, is dedicated to promoting educational equity. Their mission is to eliminate barriers and create pathways, ensuring that all students in Richmond have access to high-quality education. The ultimate goal is for these students to excel from high school, progress to higher education, attain a post-secondary degree or certification, and eventually thrive in their chosen fields. By doing so, they aspire to become leaders of positive change in their community and the world at large.
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Impact
July, 2024
Richmond Promise Inc's impact is focused on promoting educational equity and creating pathways for all students in Richmond to excel academically and professionally. Through their college success initiative, they aim to build a college graduating culture in Richmond, California. By providing college scholarships, collaborative partnerships, and supportive programming, Richmond Promise Inc ensures that students have the resources and support they need to pursue higher education, achieve their career goals, and become leaders in their community. They work closely with schools, colleges, businesses, and philanthropic organizations to support students at crucial points in their educational journey, from middle school through college graduation. This comprehensive approach helps students overcome barriers, access quality education, and reach their full potential, regardless of their background or circumstances.
This information is meant to be a general summary of Richmond 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 2022.
- Investment Income: $265,293
- Gross Receipts: $3,113,000
Assets and Liabilities:
- Total Assets: $24,507,252
- Total Liabilities: $477,213
- Net Assets: $24,030,039
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Organization Details
Founding Year
2016
Phone
(510) 761-7231Principal Officer
Christopher Whitmore
Main Address
440 CIVIC CENTER PLAZA 2ND FLOOR, RICHMOND, CA, 94804
Website
www.richmondpromise.orgNTEE Category
Code: B82 - Education
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