PROMISE PREP INC

EIN: 844553687 501(c)(3)

INDIANAPOLIS, IN

Total Revenue
$1,572,628
Total Expenses
$1,424,015
Total Assets
N/A
Net Assets
N/A
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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
IN
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.

Program Service Accomplishments

Program 1
Expenses: $991,020

PERFORMED COMMUNITY OUTREACH ACTIVITIES AND ENROLLED 50 STUDENTS DURING ITS FIRST YEAR OF OPENING KINDERGARTEN THROUGH SECOND GRADE.

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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 (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

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Governance

Voting Members
5
Independent Members
5
Employees
8
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
1
$120,000
Total Directors
6
$120,000
Key Employees
0
$0
Highest Compensated
0
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
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