PROMISE NEIGHBORHOOD OF CENTRAL MI… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2011

Legal Domicile

Principal Officer

JANICE SIMS

Phone

3202510571

Tax Period

2024-01-01 to 2024-12-31

PROMISE NEIGHBORHOOD OF CENTRAL MINNESOTA, founded in 2011, is a small nonprofit in the Human Services sector that reported $566K in total revenue in fiscal year 2024. Revenue decreased 18% compared to the prior year.

Mission

TO ENGAGE TALAHI FAMILIES AND HELP THEM ACHIEVE THEIR EDUCATIONAL, ECONOMIC, AND COMMUNITY ASPIRATIONS.

Program Service Accomplishments

Program 1

Expenses: $38,804

SUMMER CAMP - 2 FREE, FIVE WEEK PROGRAM IN JUNE, JULY AND AUGUST FOR 35 KIDS IN ELEMENTARY AND MIDDLE SCHOOL. PROGRAM INCLUDES CLASSROOM CURRICULUM FROM STATE CERTIFIED TEACHER CURRENTLY WORKING IN LOCAL SCHOOL DISTRICT, EXPERIENTIAL LEARNING, PEER MENTORING, AND INDIVIDUAL AND GROUP MENTORING FROM ADULTS. PARTICIPANTS AND FAMILIES ARE BETTER PREPARED FOR SUCCESS IN THE CLASSROOM AND HAVE DEVELOPED A STRONG PARTNERSHIP WITH POSITIVE ADULT ROLE MODELS FROM THE COMMUNITY. A WALK IN PROGRAM THREE TIMES A WEEK IN JUNE. WE ALSO OFFER CULTURAL EXPLORATION AND FIELD TRIPS TO PROVIDE EXPERIENTIAL LEARNING. WE ALSO PROVIDE HEALTHY MEAL PREPARATION, HEALTHY EATING WORKSHOPS, AND FITNESS ACTIVITIES.

Program 2

Expenses: $77,608

YOUTH NIGHTS - FREE PROGRAM THAT PROVIDES GROUP AND INDIVIDUAL MENTORING, PEER MENTORING AND A MATH AND READING CLUB. TUTORING AND HELP WITH HOMEWORK ARE ALSO PROVIDED. PARTICIPANTS AND FAMILIES ARE BETTER PREPARED FOR SUCCESS IN THE CLASSROOM AND HAVE DEVELOPED A STRONG PARTNERSHIP WITH POSITIVE ADULT ROLE MODELS FROM THE COMMUNITY. ONE ON ONE AND GROUP MENTORING. WE ALSO OFFER CULTURAL EXPLORATION AND FIELD TRIPS TO PROVIDE EXPERIENTIAL LEARNING. WE ALSO PROVIDE HEALTHY MEAL PREPARATION, HEALTHY EATING WORKSHOPS, AND FITNESS ACTIVITIES.

Program 3

Expenses: $271,629

FAMILY SUPPORT PROGRAM - PROVIDES EMERGENCY FOOD SUPPORT, ACCESS TO COMMUNITY GARDEN, USED CLOTHING CLOSET, TRAINING OPPORTUNITIES, WRITING AND COMPUTER CLASSES, STIPENDS FOR COMMUNITY MEMBERS, PEER MENTORING, ACCESS TO A LAWYER FOR CIVIL CASES, AND LEADERSHIP DEVELOPMENT. EARLY CHILDHOOD LEARNING PROGRAM FOR PARENT AND CHILDREN UNDER 4 YEARS OF AGE. WE ALSO OFFER RENTAL ADVOCACY TRAINING, PARENT LEADERSHIP TRAINING, AND TRAUMA TRAINING AS WELL AS RESOURCE FAIRS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $565,166

Program Service Revenue $0

Investment Income $573

Other Revenue $127

TOTAL REVENUE $565,866

Expense Breakdown

Grants Paid $0

Salaries & Benefits $317,731

Fundraising Expenses $37,526

Program Expenses $388,041

Other Expenses $243,110

TOTAL EXPENSES $560,841

Year-over-Year Comparison

	2024	2023	Change
Revenue	$565,866	$693,794	-0.2%
Expenses	$560,841	$656,000	-0.1%
Net Income	$5,025	$37,794	-0.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$97,218

Total Directors

$4,800

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHANNON GUSTAFSON	SECRETARY	3.25	Officer Director	$4,800	$0	$4,800
JANICE SIMS	BOARD CHAIR	3.25	Officer Director	$0	$0	$0
HOLLY WILCOX	TREASURER	3.25	Officer Director	$0	$0	$0
MONICA SCHRAUT	DIRECTOR	3.25	Director	$0	$0	$0
JERRY WETTERLING	DIRECTOR	3.25	Director	$0	$0	$0
JONNY REESE	DIRECTOR	3.25	Director	$0	$0	$0
TEANNA TAYLOR	DIRECTOR	3.25	Director	$0	$0	$0
JOHN SMITH	CHAIR OF THE EXECUTIVE COM	40.00	Officer	$92,418	$0	$92,418

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$565,866	$560,841	$231,194	$5,025
2023	$693,794	$656,000	$270,079	$37,794
2022	$531,062	$607,285	$281,643	$-76,223
2021	$467,327	$378,353	$334,276	$88,974
2020	$251,298	$230,012	$242,760	$21,286
2019	$281,227	$192,415	$161,891	$88,812

PROMISE NEIGHBORHOOD OF CENTRAL MINNESOTA