PROMISE SCHOOLS

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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

2013

Legal Domicile

Principal Officer

ERICA ROBERTSON

Phone

3134622252

Tax Period

2021-07-01 to 2022-06-30

PROMISE SCHOOLS, founded in 2013, is a community nonprofit that reported $4.1M in total revenue in fiscal year 2021. Revenue fell 47% from the prior year — a significant decline worth monitoring. Expenses of $4.9M exceeded revenue, resulting in a 20% operating deficit.

Mission

OUR MISSION IS SIMPLE MAKE URBAN SCHOOLS GREAT. BY GREAT SCHOOLS, WE MEAN SCHOOLS THAT PLACE ALL STUDENTS ON THE PATH TO COLLEGE AND OTHER POST-SECONDARY STUDIES.

Program Service Accomplishments

Program 1

Expenses: $3,546,401

JALEN ROSE LEADERSHIP ACADEMY - INSTRUCTION AND ADMINISTRATIVE SUPPORT OF EFFECTIVE SCHOOL MANAGEMENT

Program 2

Expenses: $56,060

BARBER PREPARATORY ACADEMY - INSTRUCTION AND ADMINISTRATIVE SUPPORT OF EFFECTIVE SCHOOL MANAGEMENT

Program 3

Expenses: $74,313

MACDOWELL PREPARATORY ACADEMY - INSTRUCTION AND ADMINISTRATIVE SUPPORT OF SCHOOL MANAGEMENT

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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 (2021)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $4,086,969

Investment Income $0

Other Revenue $0

TOTAL REVENUE $4,086,969

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,387,608

Fundraising Expenses $0

Program Expenses $3,676,774

Other Expenses $497,021

TOTAL EXPENSES $4,884,629

Year-over-Year Comparison

	2021	2020	Change
Revenue	$4,086,969	$7,688,968	-0.5%
Expenses	$4,884,629	$6,613,074	-0.3%
Net Income	$-797,660	$1,075,894	-1.7%

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

118

Volunteers

N/A

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

$139,202

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERICA ROBERTSON	CEO	040.00	Officer	$139,202	$0	$139,202
WENDIE TIJUAN LEWIS	SCHOOL PRINCIPAL	040.00	Highest	$110,135	$0	$110,135
SAUL GREEN	TREASURER	001.00	Director	$0	$0	$0
TYRONE DAVENPORT	CHAIR	001.00	Director	$0	$0	$0
RICO RAZO	MEMBER	001.00	Director	$0	$0	$0
QUAN NELOMS	MEMBER	001.00	Director	$0	$0	$0
BRUNO OLVERA	MEMBER	001.00	Director	$0	$0	$0
JESUS HERNANDEZ	MEMBER	001.00	Director	$0	$0	$0
GEORGE WATSON	MEMBER	001.00	Director	$0	$0	$0

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
2022	$4,086,969	$4,884,629	$2,158,911	$-797,660
2022	$2,500	$831,969	No data	$-829,469
2021	$7,688,968	$6,613,074	$2,459,805	$1,075,894
2020	$6,505,752	$6,273,511	$2,985,429	$232,241
2019	$5,089,620	$5,412,845	$1,212,962	$-323,225
2018	$9,958,313	$9,869,873	$1,641,348	$88,440