Detroit Promise Scholarship Detroit Promise Zone Authority

Nonprofit profile at a glance

EIN
843475243
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Detroit, MI, USA
Phone
3138715500
Rating
61
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public Foundations

Reported finances

Revenue
$5,553,790
Expenses
$1,834,445
Assets
$5,404,060
Liabilities
$0

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

Leadership & pay

11 people listed

People named in this filing

  • SHERISSE BUTLER (BOARD MEMBER)
  • STACIE CLAYTON (BOARD MEMBER)
  • LAWRENCE GARCIA (BOARD MEMBER)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Providing detroit high school graduates with a tuition-assisted path to higher education.

What it reported doing in 2024

Providing detroit high school graduates a tuition-assisted path to higher education.

Operating model

Revenue model
Grant-funded. 98% of the money available for current operations came from government grants.
Distribution model
Grant intermediary. The nonprofit sent 99% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 51
  • Transparency & Controls: 93
  • Accountability: 24
  • Sustainability: 89
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 33.5%; rating input score 34
  • Program expense ratio: 97.1%; rating input score 97
  • Fundraising efficiency: Limited

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; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 67%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 2.95; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: -45% per year; rating input score 0; 0th percentile among comparable filings
  • Revenue growth: 37.2% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: 99.5% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: 33.5% of revenue deployed · 97.1% of spending went to programs
  • Governance: 0 of 11 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.8M in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 3 filed schedules · includes grants
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 34/100.
  • High — Accountability: Independent voting board scored 0/100.
  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.