Promise Academy is a 501(c)(3) organization based in Tyler, Texas, registered in 2015, with $1,228,248 in FY2024 revenue. CharityIndex grades it B.
Revenue (FY2024)
$1.2M
▲ 36.0% vs prior year
Education median: $200K
Expenses (FY2024)
$1.3M
Net assets
$946K
Employees
—
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Promise Academy— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Promise Academy: 9 mo reserves · -3% margin earns a B+ on this criterion. See the exact thresholds →
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. Not scored for Promise Academy— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Promise Academy: 2 of 5 disclosure signals earns a C on this criterion. See the exact thresholds →
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Revenue grew from $219K (FY2016) to $1.2M (FY2024) across 9 reported years.
Financial snapshot
Operating margin
-3.1%
Spent more than it raised in the latest fiscal year.
Total assets
$943K
Total liabilities
-$3,720
Net assets
$946K
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $1,228,248▲36.0% | $1,266,272▲8.3% | $946,237▼3.9% | $942,517▼4.7% | 990 |
| 2023 | $902,851▼7.1% | $1,169,161▲7.6% | $984,946▼20.6% | $988,795▼20.7% | 990 |
| 2022 | $971,713▼4.0% | $1,086,492▲15.7% | $1,241,183▼7.7% | $1,247,574▼7.4% | 990 |
| 2021 | $1,012,585▲10.2% | $939,087▲12.3% | $1,345,028▲2.9% | $1,347,405▼9.3% | 990 |
| 2020 | $918,927▼45.9% | $836,592▲37.5% | $1,306,859▲9.3% | $1,486,087▲16.2% | 990 |
| 2019 | $1,697,283▲431% | $608,214▲91.4% | $1,195,857▲786% | $1,278,859▲819% | 990 |
| 2018 | $319,808▲35.2% | $317,798▲28.9% | $135,031▲1.5% | $139,187▲1.6% | 990 |
| 2017 | $236,463▲8.0% | $246,548▲67.1% | $133,021▼7.0% | $136,991▼6.0% | 990 |
| 2016 | $219,020 | $147,513 | $143,106 | $145,799 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
22 grants to Promise Academy totaling $1.1M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Communities Foundation of Texas | This grant is designated for general support. | 2024 | $100,000 |
| Communities Foundation of Texas | This grant is designated for general support. | 2023 | $100,000 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2023 | $50,000 |
| National Philanthropic Tr | Religion | 2023 | $18,000 |
| Servant Foundation | Education | 2023 | $10,000 |
| The Community Fdn of Middle Tn Inc | Delek us corporate support from tyler committee | 2023 | $10,000 |
| Communities Foundation of Texas | This grant is designated for general support. | 2022 | $136,500 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2022 | $32,000 |
| Communities Foundation of Texas | This grant is designated for general support. | 2021 | $100,000 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2021 | $51,149 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2021 | $51,149 |
| The Dallas Foundation | General support | 2021 | $15,000 |
| American Online Giving Foundation Inc | General support | 2021 | $6,482 |
| Communities Foundation of Texas | This grant is designated for general support. | 2020 | $100,000 |
| Communities Foundation of Texas | This grant is designated for general support. | 2020 | $100,000 |
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Data for Promise Academy (EIN 35-2519571) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.