Promise Cares Inc

Nonprofit profile at a glance

EIN
452771034
IRS 990 coverage
2015–2025
Forms available
Form 990 2025
Location
Memphis, TN, USA
Phone
9013573337
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$637,194
Expenses
$688,544
Assets
$279,595
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

2 people listed

Executive titles in this filing

  • ELLIOT SHELTON (PRESIDENT)

Highest reported compensation

  • CYNTHIA REED (EXEC DIRECTOR): $100,000 total reported compensation
  • ELLIOT SHELTON (PRESIDENT): $94,713 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide a safe haven for senior citizens to receive the appropriate care.

What it reported doing in 2025

Va benefits are the primary source of revenue and payroll is the

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% 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.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 81
  • Accountability: 63
  • Sustainability: 24
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.6%; rating input score 71
  • Program expense ratio: 65.3%; rating input score 65
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 7th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 1 of 9 controls in place; rating input score 11
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -8.1%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 0.41; rating input score 20; 20th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 88; 88th percentile among comparable filings
  • Officer compensation ratio: 28.3%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: 11.7% per year; rating input score 100; 63rd percentile among comparable filings
  • Revenue growth: 16.1% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 27.7% per year; rating input score 100; 87th percentile among comparable filings

Details

  • Where the money goes: 70.6% of revenue deployed · 65.3% of spending went to programs
  • Governance: 5 of 5 board members independent · 1 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $689K in reported program spending
  • Leadership: top reported pay $100K · 2 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 10 filing years from 2015 to 2025
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Accountability: Governance controls: 8 of 9 not reported.
  • High — Sustainability: Operating margin scored 15/100.
  • High — Sustainability: Total-asset coverage ratio scored 20/100.
  • High — Sustainability: Officer compensation ratio scored 9/100.