Village of Promise Incorporated

Nonprofit profile at a glance

EIN
274419395
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Huntsville, AL, USA
Phone
2565368052
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Family Services

Official website

Reported finances

Revenue
$1,392,209
Expenses
$1,421,628
Assets
$198,055
Liabilities
$291,040

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

Leadership & pay

18 people listed

Executive titles in this filing

  • DANA GILLIS (CHIEF EXECUTIVE DIRECTOR EX-OFFI)

Highest reported compensation

  • DANA GILLIS (CHIEF EXECUTIVE DIRECTOR EX-OFFI): $114,117 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

We are a family advancement center, with programs designed to guide and support children and their families as they transition out of poverty while they advance educationally, social-emotionally, physically, and professionally. We focus our programs on educational, emotional, social, physical and professional growth of children and their families.

What it reported doing in 2024

Promise preparatory offers early education and development services from birth through pre-k. The program uses a holistic learning approach, with a focus on social-emotional, physical, creative, and cognitive development. The classes offered are infant, toddler, threes, and pre-k4 i and ii. There were 3 participants in infants, 6 participants in toddlers, 10 participants in threes,18 participants in pre-k4i and 15 participants in pre-k4ii during the year.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 22
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73.2%; rating input score 73
  • Program expense ratio: 71.7%; rating input score 72
  • Fundraising efficiency: $4.34 raised per $1 spent on fundraising; rating input score 14; 14th 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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 94.4%; rating input score 94; 25th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.1%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 0.14; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 1.47; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 8%; rating input score 43; 43rd percentile among comparable filings

Growth

  • Program expense growth: 13.9% per year; rating input score 100; 73rd percentile among comparable filings
  • Revenue growth: 13.8% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 4.4% per year; rating input score 100; 36th percentile among comparable filings

Details

  • Where the money goes: 73.2% of revenue deployed · 71.7% of spending went to programs
  • Governance: 17 of 18 board members independent · 4 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $1M in reported program spending
  • Leadership: top reported pay $114K · 18 people listed
  • Consistency: 31 of 31 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Accountability: Governance controls: 4 of 8 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 14/100.
  • Moderate — Sustainability: Operating margin scored 30/100.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • Moderate — Sustainability: Officer compensation ratio scored 43/100.