The Future Promise Foundation Inc

Nonprofit profile at a glance

EIN
823387200
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023, Form 990-N 2022
Location
Peachtree Corners, GA, USA
Phone
4045131173
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Legal Services

Reported finances

Revenue
$400,000
Expenses
$395,099
Assets
$49,529
Liabilities
$375

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

Leadership & pay

10 people listed

Executive titles in this filing

  • PADDY SHARMA (CEO)

People named in this filing

  • PADDY SHARMA (CEO)
  • JAYASHREE SURESH (EXECUTIVE DI)
  • CHANDLER SHARMA (CHAIRMAN OF)

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

Inspiring, connecting and empowering communities to collaborate for social impact.

What it reported doing in 2024

The future promise foundation has established an agreement and memorandum of understanding with helpingukraine.us, 501(c)(3) organization. Grant funds are received through "the community foundation for northeast Georgia" which originates from helpingukraine.us. These funds are allocated to the future promise foundation from helping ukraine to support their efforts in enhancing the quality of life for those receiving disaster relief in ukraine. The future promise foundation is tasked with organizing and covering the expenses of all vendors supplying goods and services to helpingukraine.us, subject to approval by helping ukraine for each transaction.

Operating model

Revenue model
Grant-funded. 100% of the money available for current operations came from government grants.
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: 82
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 36
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.2%; rating input score 92
  • Program expense ratio: 93.4%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 63rd percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 1.2%; rating input score 42; 42nd percentile among comparable filings
  • Total-asset coverage ratio: 0.13; rating input score 8; 8th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 47; 47th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 53.5% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 23.4% per year; rating input score 100; 88th percentile among comparable filings

Details

  • Where the money goes: 92.2% of revenue deployed · 93.4% of spending went to programs
  • Governance: 9 of 9 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $369K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 3 filed schedules
  • 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.

Key Signals

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

  • High — Accountability: Governance controls: 5 of 6 not reported.
  • Moderate — Sustainability: Operating margin scored 42/100.
  • High — Sustainability: Total-asset coverage ratio scored 8/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 47/100.