THE GREENWOOD PROMISE LLC

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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

2015

Legal Domicile

Principal Officer

CARRIE HOFMANN

Phone

8643778110

Tax Period

2024-07-01 to 2025-06-30

THE GREENWOOD PROMISE LLC, founded in 2015, is a small nonprofit in the Human Services sector that reported $705K in total revenue in fiscal year 2024. Revenue fell 38% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $230K, a strong 33% operating margin.

Mission

THE GREENWOOD PROMISE IS AN EDUCATIONAL INITIATIVE AIMED AT INCREASING THE ECONOMIC GROWTH OF GREENWOOD COUNTY BY PROMOTING POST-SECONDARY EDUCATION AND THEREBY ENSURING A SKILLED AND EDUCATED WORKFORCE. THIS INITIATIVE ENABLES GREENWOOD COUNTY TO BE A VIABLE COMPETITOR IN BOTH INDUSTRY AND COMMUNITY ATTRACTIVENESS BY PROMISING ALL ELIGIBLE GREENWOOD COUNTY HIGH SCHOOL GRADUATES TUITION ASSISTANCE. THE PROGRAM SUPPORTS AN ASSOCIATE'S DEGREE AND HOPES TO PROVIDE THE OPPORTUNITY FOR ADVANCEMENT TO A FOUR-YEAR DEGREE FOR THOSE WITH THE ACADEMIC ABILITY TO SUCCEED.

Program Service Accomplishments

Program 1

Expenses: $394,762

PROVIDE TUITION ASSISTANCE TO GRADUATES OF GREENWOOD COUNTY TO PROMOTE POST-SECONDARY EDUCATION AND THEREBY ENSURING A SKILLED AND EDUCATED WORKFORCE, AN IMPROVED OVERALL QUALITY OF LIFE, AND AN...

PROVIDE TUITION ASSISTANCE TO GRADUATES OF GREENWOOD COUNTY TO PROMOTE POST-SECONDARY EDUCATION AND THEREBY ENSURING A SKILLED AND EDUCATED WORKFORCE, AN IMPROVED OVERALL QUALITY OF LIFE, AND AN INCREASED ECONOMIC VITALITY.

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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 $348,274

Program Service Revenue $0

Investment Income $356,623

Other Revenue $0

TOTAL REVENUE $704,897

Expense Breakdown

Grants Paid $124,654

Salaries & Benefits $210,638

Fundraising Expenses $18,751

Program Expenses $394,762

Other Expenses $139,999

TOTAL EXPENSES $475,291

Year-over-Year Comparison

	2024	2023	Change
Revenue	$704,897	$1,131,792	-0.4%
Expenses	$475,291	$419,130	+0.1%
Net Income	$229,606	$712,662	-0.7%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WELBORN ADAMS	DIRECTOR	1.00	Director	$0	$0	$0
JAMES BATEMAN	DIRECTOR	1.00	Director	$0	$0	$0
JOSH BLACK	DIRECTOR	2.00	Director	$0	$0	$0
DR TODD GAMBILL	DIRECTOR	2.00	Director	$0	$0	$0
JOSH GARVIN	TREASURER	2.00	Officer Director	$0	$0	$0
DR STEVE GLENN	DIRECTOR	1.00	Director	$0	$0	$0
DR MATT LOGAN	VICE-CHAIR	2.00	Officer Director	$0	$0	$0
DENISE MANLEY	DIRECTOR	1.00	Director	$0	$0	$0
RON MILLENDER	CHAIR	3.00	Officer Director	$0	$0	$0
STEVEN PRUITT	DIRECTOR	1.00	Director	$0	$0	$0
JAY SELF	DIRECTOR	1.00	Director	$0	$0	$0
JERRY STEVENS	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL WALTERS	DIRECTOR	1.00	Director	$0	$0	$0
FRANK WIDEMAN	DIRECTOR	2.00	Director	$0	$0	$0
TRENTSIE WILLIAMS	SECRETARY	2.00	Officer 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
2025	$704,897	$475,291	$8,208,956	$229,606
2024	$1,131,792	$419,130	$7,538,006	$712,662
2023	$283,623	$336,172	$6,335,233	$-52,549
2022	$2,346,899	$423,739	$5,858,606	$1,923,160
2021	$1,228,738	$470,470	$5,420,545	$758,268
2020	$711,582	$265,547	$3,900,583	$446,035