Promise Partners Inc
Nonprofit profile at a glance
- EIN
- 453557966
- IRS 990-EZ coverage
- 2023–2024
- Forms available
- Form 990-EZ 2024, Form 990-N 2022
- Location
- Westlake, OH, USA
- Phone
- 2165668884
- Rating
- 86
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Chambers of Commerce & Business Leagues
Reported finances
- Revenue
- $114,033
- Expenses
- $93,640
- Assets
- $93,393
- Liabilities
- $0
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
15 people listed
People named in this filing
- Aaron Caplan (Managing Partner)
- Patrick Russo (Treasurer)
- Dale Mesnick (Secretary)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
1. Stimulate development and free interchange of information among members of the Corporation who share a common objective of improving business conditions for emerging and experienced entrepreneurs seeking to achieve or sustain business ownership; 2. Illuminate the path to business ownership by arranging meetings, tours and events at which a member of the Corporation or a guest who owns a business explains how he or she started or acquired and operates the business to provide members of the Corporation with learning experiences from business owners; 3. Remove obstacles to business ownership by organizing small groups of members of the Corporation that meet frequently to foster accountability towards execution of each member's plan to achieve or sustain business ownership and by identifying opportunities for a member who owns a business to serve as a mentor to another member who is seeking to achieve business ownership; 4. Encourage each member to achieve business ownership
What it reported doing in 2024
Quarterly Meetings and Flights & Admin to inspire business ownership and keep everyone engaged
Operating model
- Revenue model
- Membership-supported. 83% of the money available for current operations came from membership dues.
- 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
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 89
- Transparency & Controls: 82
- Sustainability: 67
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 82.4%; rating input score 82
- Program expense ratio: 100%; rating input score 100
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: 17.9%; rating input score 71; 71st percentile among comparable filings
- Total-asset coverage ratio: 1; rating input score 59; 59th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 76; 76th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings
Growth
- Program expense growth: 15.5% per year; rating input score 100; 71st percentile among comparable filings
- Revenue growth: 47.3% per year; rating input score 100; 95th percentile among comparable filings
- Asset growth: 24.5% per year; rating input score 100; 84th percentile among comparable filings
Details
- Where the money goes: 82.4% of revenue deployed · 100% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 2 filed program accomplishments · $94K in reported program spending
- Leadership: top reported pay $0 · 15 people listed
- Consistency: 9 of 9 current checks pass
- Schedules: 1 filed schedules
- Filing history: 2 filing years from 2023 to 2024
- Contacts: How to reach this organization
- 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.
- Review — Sustainability: Total-asset coverage ratio scored 59/100.