PROVIDENCE PROMISE (EIN 471918920) - Form 990 Financial Analysis & Trantor Score

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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

2014

Legal Domicile

Principal Officer

JOHN KASHMANIAN

Phone

4013833381

Tax Period

2024-07-01 to 2025-06-30

PROVIDENCE PROMISE, founded in 2014, is a small nonprofit in the Education sector that reported $784K in total revenue in fiscal year 2024.

Mission

PROVIDENCE PROMISE PROMOTES HIGH EDUCATIONAL ASPIRATIONS AND MORE EQUITABLE OPPORTUNITIES FOR PROVIDENCE PUBLIC SCHOOL STUDENTS BY ADVOCATING FOR COLLEGE SAVINGS ACCOUNTS AND FAMILY ENGAGEMENT, INCREASING FINANCIAL LITERACY, AND REDUCING THE FINANCIAL BURDEN OF HIGHER EDUCATION.

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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 $753,932

Program Service Revenue $2,210

Investment Income $1,360

Other Revenue $26,413

TOTAL REVENUE $783,915

Expense Breakdown

Grants Paid $148,203

Salaries & Benefits $549,841

Fundraising Expenses $153,181

Program Expenses $536,446

Other Expenses $157,403

TOTAL EXPENSES $855,447

Year-over-Year Comparison

	2024	2023	Change
Revenue	$783,915	$811,416	0.0%
Expenses	$855,447	$982,916	-0.1%
Net Income	$-71,532	$-171,500	-0.6%

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

$106,345

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL CATARINA	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
CHRISTINE DIBIASE	VICE CHAIR	1.00	Officer Director	$0	$0	$0
JOHN KASHMANIAN	TREASURER	2.00	Officer Director	$0	$0	$0
MONICA HORAN	SECRETARY	1.00	Officer Director	$0	$0	$0
RICHARD LAPPIN	FOUNDER	5.00	Director	$0	$0	$0
LAJUAN ALLEN	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT BARGE	DIRECTOR	1.00	Director	$0	$0	$0
DANIEL BAUDOUIN	DIRECTOR	2.00	Director	$0	$0	$0
MARINA BETANCUR	DIRECTOR	1.00	Director	$0	$0	$0
MARLEN HERNANDEZ	DIRECTOR	1.00	Director	$0	$0	$0
LISA LAPPIN LEVINE	DIRECTOR	1.00	Director	$0	$0	$0
TORRELL MOLA	DIRECTOR	0.10	Director	$0	$0	$0
JAMES VINCENT	DIRECTOR	0.10	Director	$0	$0	$0
DR KENNETH WONG	DIRECTOR	0.10	Director	$0	$0	$0
YOKO YAMAMOTO	DIRECTOR	1.00	Director	$0	$0	$0
MADALYN CIAMPI	EXECUTIVE DIRECTOR	40.00	Officer	$97,699	$8,646	$106,345

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
2025	$783,915	$855,447	$560,099	$-71,532
2024	$811,416	$982,916	$482,135	$-171,500
2023	$819,387	$812,162	$688,834	$7,225
2022	$631,702	$485,912	$403,115	$145,790
2021	$452,764	$324,536	$240,350	$128,228
2020	$241,447	$189,718	$139,057	$51,729
2019	$200,800	$203,052	$61,471	$-2,252

PROVIDENCE PROMISE