Overview
What is Promise Pointe Inc?
Promise Pointe Inc is a nonprofit organization situated in Victoria, Texas. Their primary mission is to provide affordable housing and a supportive community for the chronically homeless in Victoria County and its surrounding areas. Throughout 2019, they constructed and occupied five tiny houses, each consisting of a single room and a closet. Additionally, they built a community laundry, library, and bath facility, all aimed at helping residents regain their independence and improve their lives. Their efforts include constructing more tiny houses as of the end of the year.
Official website here: www.promisepointe.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 90% (Four-Star out of Four Star Rating)
Promise Pointe Inc has achieved an impressive score of 90%, indicating a strong level of accountability and financial health. This high rating reflects the charity's commitment to maintaining a majority independent board, proper documentation practices, and the absence of any material diversion of assets. The organization scores particularly well in areas such as program expense ratio, showcasing that a significant portion of its resources goes directly towards its programs.
The accountability and finance metrics highlight that Promise Pointe Inc has taken proactive steps to ensure transparency and effective governance. With all board members being independent and comprehensive policies in place for conflict of interest and document retention, the charity demonstrates a solid framework for ethical operations. However, it is important to note that the organization is lacking a whistleblower policy, which could be seen as a gap in its governance practices.
Overall, Promise Pointe Inc presents a strong case for potential donors looking for a reliable organization. While the absence of a whistleblower policy is a minor setback in an otherwise strong rating, the charity's focus on accountability and program spending reflects a commitment to its mission and the well-being of the communities it serves.
This AI summary has been generated from information found on Charity Navigator.
Is Promise Pointe Inc legitimate?
Promise Pointe Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Promise Pointe 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.
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Official website here: www.promisepointe.org
What is the mission statement of Promise Pointe Inc?
Promise Pointe Inc's mission is centered around providing housing solutions for the homeless. They have established a supportive community, offering affordable permanent housing for chronically homeless individuals in various areas. Throughout their operations, they have constructed tiny houses, each containing a single room and a closet, for their residents. These tiny houses provide a safe and sound living space, enabling residents to regain their independence and improve their lives. By the end of 2019, five tiny houses had been completed and occupied. Construction of additional tiny houses commenced towards the end of the year, continuing their mission to provide housing solutions for those in need.
Official website here: www.promisepointe.org
Who is the CEO of Promise Pointe Inc?
Mike Olson is the President of Promise Pointe Inc.
Official website here: www.promisepointe.org
What is the revenue of Promise Pointe Inc?
Promise Pointe Inc's revenue in 2022 was $566,189.
Official website here: www.promisepointe.org
Who are the executives of Promise Pointe Inc and what are their salaries?
Here are 14 key members and their salaries:
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Official website here: www.promisepointe.org
Where can I find the form 990 for Promise Pointe Inc?
Promise Pointe Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.promisepointe.org
Learn more at the official website: www.promisepointe.org
Mission Statement of Promise Pointe Inc
Promise Pointe Inc, a nonprofit organization, is committed to providing housing solutions for the homeless in various areas. Its primary mission is to construct and offer permanent, affordable housing, along with a supportive community, for the chronically homeless. Through its efforts, the organization has built "tiny houses" containing a single room and a closet for residents, providing them with a safe and secure living space. By the end of 2019, five such tiny houses had been completed and occupied. Promise Pointe Inc continues its construction projects, aiming to create better lives for individuals who may have otherwise struggled to establish a stable home environment. The organization's housing initiatives and supportive community have played a crucial role in helping residents regain their independence and improve their overall quality of life.
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Impact
July, 2024
Promise Pointe Inc's impact can be seen in the transformation it has brought to the lives of the chronically homeless in Victoria, Texas, and the surrounding areas. By providing permanent affordable housing and a supportive community, Promise Pointe Inc has not only given these individuals a roof over their heads but also helped them regain their independence and create better lives for themselves. The construction of "tiny houses" that offer residents a safe and sound home has been instrumental in this process, along with the provision of essential facilities like a community laundry, library, and bath building. With each completed "tiny house," Promise Pointe Inc is making a tangible difference in the lives of those who would otherwise struggle to find stability and security.
This information is meant to be a general summary of Promise Pointe 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: $54
- Program Service Revenue: $40,088
- Gross Receipts: $566,189
Assets and Liabilities:
- Total Assets: $1,464,418
- Total Liabilities: $2,200
- Net Assets: $1,462,218
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT INCOME
Revenue
$39,878
MICROENTERPRISE SALES
Revenue
$210
Organization Details
Founding Year
2016
Principal Officer
Mike Olson
Main Address
P O BOX 2293, VICTORIA, TX, 77902
Website
www.promisepointe.orgNTEE Category
Code: L20 - Housing
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