Bright Promise

Nonprofit profile at a glance

EIN
363634360
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-N 2009
Location
Chicago, IL, USA
Phone
7083210403
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Affiliation
Christianity

Official website

Reported finances

Revenue
$3,374,785
Expenses
$722,244
Assets
$5,847,687
Liabilities
$332,069

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • STEVE BLOM (EXECUTIVE DIRECTOR)
  • CHRIS WIESEHAN (PRESIDENT/TREASURER)

Highest reported compensation

  • STEVE BLOM (EXECUTIVE DIRECTOR): $90,450 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To strengthen and sustain partner christian schools by generating new sources of revenue so that more families may experience the benefit from urban christian education.

What it reported doing in 2024

The funds raised will be divided among the fifteen affiliated christian schools it serves, in the confidence that each local school board knows best as to which priorities to address. Most often, the highest priority is providing tuition assistance to families in need. Other priorities may include emergency capital needs or professional development for teachers and administrators.

Operating model

Revenue model
Donor-supported. 86% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 46% for direct work, and 54% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 42
  • Transparency & Controls: 90
  • Accountability: 79
  • Sustainability: 83
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 17.7%; rating input score 18
  • Program expense ratio: 76%; rating input score 76
  • Fundraising efficiency: $24.25 raised per $1 spent on fundraising; rating input score 64; 64th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 98.6%; rating input score 99; 36th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 78.6%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 8.1; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 68; 68th percentile among comparable filings
  • Officer compensation ratio: 12.5%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: 9.4% per year; rating input score 100; 62nd percentile among comparable filings
  • Revenue growth: 15.6% per year; rating input score 100; 83rd percentile among comparable filings
  • Asset growth: 11.3% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 17.7% of revenue deployed · 76% of spending went to programs
  • Governance: 8 of 8 board members independent · 4 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $549K in reported program spending
  • Leadership: top reported pay $90K · 9 people listed
  • Consistency: 30 of 31 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 13 filed money-flow records
  • Related organizations: 12 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 18/100.
  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 23/100.