PROMISE PREP INC (EIN 844553687) - 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

2019

Legal Domicile

Principal Officer

GEOFFREY FENELUS

Phone

3477520044

Tax Period

2021-07-01 to 2022-06-30

PROMISE PREP INC, founded in 2019, is a community nonprofit that reported $1.6M in total revenue in fiscal year 2021. Revenue surged 156% from the prior year, signaling strong growth momentum. Expenses of $1.4M left a modest 9% surplus.

Mission

PROMISE PREP'S MISSION IS TO ENSURE ALL STUDENTS, REGARDLESS OF THEIR FAMILY'S INCOME, RACE, OR ZIP CODE, HAVE ACCESS TO A HIGH-QUALITY EDUCATION THAT ENABLES THEM TO BECOME CRITICAL THINKERS, HAVE CHOICES, CAPITALIZE ON OPPORTUNITIES, AND SECURE CONTINUING ECONOMIC ADVANCEMENT TO POSITIVELY IMPACT THEIR COMMUNITY.

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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 $1,562,121

Program Service Revenue $0

Investment Income $174

Other Revenue $10,333

TOTAL REVENUE $1,572,628

Expense Breakdown

Grants Paid $0

Salaries & Benefits $532,189

Fundraising Expenses $0

Program Expenses $991,020

Other Expenses $891,826

TOTAL EXPENSES $1,424,015

Year-over-Year Comparison

	2021	2020	Change
Revenue	$1,572,628	$613,655	+1.6%
Expenses	$1,424,015	$475,884	+2.0%
Net Income	$148,613	$137,771	+0.1%

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

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

$120,000

Total Directors

$120,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ADAM MILAKOFSKY	BOARD CHAIR	4.00	Director	$0	$0	$0
SUSAN APPEL	BOARD MEMBER	4.00	Director	$0	$0	$0
GLORIA KING	BOARD MEMBER	4.00	Director	$0	$0	$0
JULIAN HARRELL	BOARD MEMBER	4.00	Director	$0	$0	$0
MYCHEAL SPENCER	BOARD MEMBER	4.00	Director	$0	$0	$0
GEOFFREY FENELUS	EXECUTIVE DIRECTOR	40.00	Officer Director	$120,000	$0	$120,000

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	$1,572,628	$1,424,015	No data	$148,613
2021	$613,655	$475,884	$641,445	$137,771

PROMISE PREP INC