City of Promise Inc

Nonprofit profile at a glance

EIN
831439722
IRS 990 coverage
2020–2023
Forms available
Form 990 2023, Form 990-N 2018
Location
Charlottesville, VA, USA
Phone
4342959525
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Human Service Organizations

Official website

Reported finances

Revenue
$1,024,108
Expenses
$810,651
Assets
$762,002
Liabilities
$60,546

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

14 people listed

People named in this filing

  • BILL SHENKIR (CHAIR)
  • LEAH PURYEAR (VICE CHAIR)
  • MOLLY DUNNINGTON (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Our mission is to end generational poverty, and to foster a culture of achievement in which all children in our community graduate from high school, ready for college or career.

What it reported doing in 2023

Pathway coaching: students in grades 5-12 are assigned a coach to support their academic success. Coaches collaborate with teachers to address academic and behavioral needs. Coaches ensure that students are connected to after-school activities, summer programs, and employment opportunities. Coaches plan and chaperone field trips, give kids a ride when needed, and support parents in navigating paperwork and systems that will lift up the whole family.

Operating model

Revenue model
Donor-supported. 92% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 92% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 64
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 59.6%; rating input score 60
  • Program expense ratio: 74.6%; rating input score 75
  • Fundraising efficiency: $15.06 raised per $1 spent on fundraising; rating input score 51; 51st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th 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: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 20.8%; rating input score 78; 78th percentile among comparable filings
  • Total-asset coverage ratio: 0.94; rating input score 40; 40th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 47; 47th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 10.7% per year; rating input score 100; 65th percentile among comparable filings
  • Revenue growth: 9.9% per year; rating input score 100; 67th percentile among comparable filings
  • Asset growth: 14.3% per year; rating input score 100; 70th percentile among comparable filings

Details

  • Where the money goes: 59.6% of revenue deployed · 74.6% of spending went to programs
  • Governance: 14 of 14 board members independent · 7 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $604K in reported program spending
  • Leadership: top reported pay $0 · 14 people listed
  • Consistency: 31 of 31 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 4 filing years from 2020 to 2023
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Review — Financial Efficiency: Fundraising efficiency scored 51/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 40/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 47/100.