Birmingham Promise Inc

EIN: 842830568 501(c)(3) Education

Birmingham, AL

Total Revenue
$7,953,999
Total Expenses
$7,059,264
Total Assets
$12,741,689
Net Assets
$12,722,899
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Financial Trends

Organization Details

Formation Year
2019
Legal Domicile
AL
Principal Officer
Aimee Scottland
Phone
2058435967
Tax Period
2023-01-01 to 2023-12-31

BIRMINGHAM PROMISE INC, founded in 2019, is a community nonprofit in the Education sector that reported $2.3M in total revenue in fiscal year 2019. The organization ran a surplus of $2.2M, a strong 98% operating margin.

Mission

The Mission of Birmingham Promise is to transform futures and advance Birmingham by re-engineering education and workforce systems. The Birmingham Promise has two primary components: (1) youth apprenticeships, which provide Birmingham City School (BCS) juniors and seniors with paid, high-quality work-based learning experiences and (2) postsecondary financial support, which enables BCS graduates to attend in-state, public institutions tuition-free. The goal is to serve at least 10,000 BCS students by 2030.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $7,490,554
Program Service Revenue $89,256
Investment Income $374,189
Other Revenue $0
TOTAL REVENUE $7,953,999

Expense Breakdown

Grants Paid $3,937,868
Salaries & Benefits $1,696,375
Fundraising Expenses $117,713
Program Expenses $5,488,335
Other Expenses $1,425,021
TOTAL EXPENSES $7,059,264

Year-over-Year Comparison

2023 2022 Change
Revenue $7,953,999 $6,387,834 +0.2%
Expenses $7,059,264 $4,823,104 +0.5%
Net Income $894,735 $1,564,730 -0.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
11
Independent Members
11
Employees
27
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
3
$176,059
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Will Clark Director 1.00
Director
$0 $0 $0
Mayor Randall Woodfin Ex-Officio Director 1.00
Director
$0 $0 $0
Ralph Williams Director 1.00
Director
$0 $0 $0
Dr Mark Sullivan Director 1.00
Director
$0 $0 $0
Khadijah Abdullah Director 1.00
Director
$0 $0 $0
Cathy Sloss Jones Director 1.00
Director
$0 $0 $0
Danny McKinney Director 1.00
Director
$0 $0 $0
Larry Thornton Sr Director 1.00
Director
$0 $0 $0
Sara Newell Ex-Officio Director 1.00
Director
$0 $0 $0
Rachel Harmon Ex-Officio Director 1.00
Director
$0 $0 $0
Leroy Abrahams Board Chairman 1.00
Officer
$0 $0 $0
Josh Carpenter Treasurer 1.00
Officer
$0 $0 $0
Samantha Williams Executive Director 40.00
Officer
$161,402 $14,657 $176,059
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 No data No data No data No data
2023 $7,953,999 $7,059,264 $12,741,689 $894,735
2022 $6,387,834 $4,823,104 $11,865,752 $1,564,730
2021 $8,427,108 $3,232,678 $10,392,219 $5,194,430
2019 $2,281,035 $47,671 $2,280,926 $2,233,364
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