Promise Project Inc

EIN: 753004044 501(c)(3) Housing & Shelter

Duluth, GA

Total Revenue
$344,114
Total Expenses
$334,981
Total Assets
$1,470,529
Net Assets
$-1,139,279
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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
2002
Legal Domicile
GA
Principal Officer
Britt Jennings
Phone
6783302000
Tax Period
2024-01-01 to 2024-12-31

Promise Project Inc, founded in 2002, is a small nonprofit in the Housing & Shelter sector that reported $344K in total revenue in fiscal year 2024.

Mission

Providing housing to elderly persons by operating a HUD-assisted rental community regulated under Section 202 of the National Housing Act of 1959.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $343,628
Investment Income $469
Other Revenue $17
TOTAL REVENUE $344,114

Expense Breakdown

Grants Paid $0
Salaries & Benefits $101,350
Fundraising Expenses $0
Program Expenses $308,067
Other Expenses $233,631
TOTAL EXPENSES $334,981

Year-over-Year Comparison

2024 2023 Change
Revenue $344,114 $347,511 0.0%
Expenses $334,981 $392,561 -0.1%
Net Income $9,133 $-45,050 -1.2%
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

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Governance

Voting Members
1
Independent Members
1
Employees
N/A
Volunteers
1

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
1
$0
Total Directors
1
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Britt Jennings CFO 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
2024 $344,114 $334,981 $1,470,529 $9,133
2023 $347,511 $392,561 $1,489,041 $-45,050
2022 $266,687 $359,928 $1,527,006 $-93,241
2021 $263,982 $332,820 $1,608,280 $-68,838
2020 $261,090 $320,960 $1,667,051 $-59,870
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