PROMISE INC

EIN: 900520600 501(c)(3) Housing & Shelter

WEST MELBOURNE, FL

Total Revenue
$1,926,144
Total Expenses
$1,699,408
Total Assets
$5,531,883
Net Assets
$5,443,865
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2009
Legal Domicile
FL
Principal Officer
JEFF KIEL
Phone
3217227400
Tax Period
2023-01-01 to 2023-12-31

PROMISE INC, founded in 2009, is a community nonprofit in the Housing & Shelter sector that reported $1.9M in total revenue in fiscal year 2023. Revenue decreased 8% compared to the prior year. Expenses of $1.7M left a modest 12% surplus.

Mission

PROMISE, INC. IS A 501(C)3 NONPROFIT ORGANIZATION ESTABLISHED IN 2009 THAT WAS DESIGNED TO PROVIDE AFFORDABLE, INDEPENDENT HOUSING FOR INDIVIDUALS WITH COGNITIVE AND PHYSICAL DISABILITIES UTILIZING PUBLIC AND PRIVATE PARTNERSHIPS TO DEVELOP A MODEL COMMUNITY.

Program Service Accomplishments

Program 1
Expenses: $1,365,490 Revenue: $677,931

PROMISE'S RESIDENT COMMUNITY PROGRAM - INCORPORATES A VARIETY OF PROGRAMS AND SERVICES THAT SEEK TO PROVIDE A FULFILLING LIFE FOR EACH OF ITS RESIDENTS. THE RESIDENT COMMUNITY PROGRAM (RCP) INCLUDES...

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PROMISE'S RESIDENT COMMUNITY PROGRAM - INCORPORATES A VARIETY OF PROGRAMS AND SERVICES THAT SEEK TO PROVIDE A FULFILLING LIFE FOR EACH OF ITS RESIDENTS. THE RESIDENT COMMUNITY PROGRAM (RCP) INCLUDES VOCATIONAL TRAINING AND EMPLOYMENT OPPORTUNITIES; TRANSPORTATION SERVICES; INDEPENDENT LIVING COURSES; HEALTH, FITNESS AND NUTRITION CLASSES. THE RESIDENTS PARTICIPATING IN THE RCP HAVE MORE THAN 60 ACTIVITIES PER WEEK TO CHOOSE FROM.PROMISE TREASURES THRIFT SHOPPE - OPENED IN OCTOBER 2013, IS THE PROMISE TREASURES THRIFT SHOPPE, LOCATED IN WEST MELBOURNE, FLORIDA. THE ORGANIZATION CURRENTLY HAS EIGHT RESIDENTS ON THE PAYROLL AT TREASURES AND PROVIDE VOCATIONAL TRAINING FOR ANOTHER 30 YOUNG ADULTS WITH SPECIAL NEEDS AND OPERATE WITH THE HELP OF MORE THAN 40 COMMUNITY VOLUNTEERS. TREASURES OFFERS A VARIETY OF BOUTIQUE AND FURNITURE ITEMS, HOME DECOR, ELECTRONICS, HOLIDAY ITEMS, HANDMADE SOY CANDLES, ALL-NATURAL DOGGIE TREATS AND MORE TO CUSTOMERS. IN MID-DECEMBER 2023, THE ORGANIZATION RENAMED THE THRIFT SHOPPE TO TREASURES BOUTIQUE AND RELOCATED OPERATIONS TO THE CAFE AND BAKERY INSIDE AVES' PLACE.PROMISE CAFE & BAKERY - THE ORGANIZATION BROKE GROUND ON THE SECOND SOCIAL ENTERPRISE, THE PROMISE CAFE & BAKERY, IN SEPTEMBER 2016 AND COMPLETED CONSTRUCTION IN EARLY 2020. LOCATED IN WEST MELBOURNE COMMUNITY PARK AND DIRECTLY SOUTH OF THE SPACE COAST FIELD OF DREAMS, THE PROMISE CAFE & BAKERY, ALSO KNOWN AS AVES' PLACE, IS A 7,000-SQUARE-FOOT FACILITY THAT CAN HOST EVENTS WITH UP TO 150 GUESTS, AS WELL AS A 40-SEAT PRIVATE DINING ROOM/MEETING ROOM FOR SMALLER EVENTS. THE CAFE FEATURES INDOOR SEATING, A CHILDREN'S AREA AND GALLERY FEATURING ARTWORK MADE BY PROMISE RESIDENTS AVAILABLE FOR PURCHASE, AS WELL AS AN OUTDOOR WALK-UP WINDOW AND OPEN-AIR HANDICAPPED-ACCESSIBLE PICNIC TABLES. THE ORGANIZATION OFFERS MULTIPLE SPACES FOR RENT AT THE PROMISE CAFE & BAKERY, INCLUDING A MAIN DINING ROOM THAT CAN SEAT 150 GUESTS AS WELL AS A PRIVATE DINING ROOM, WHICH CAN SEAT UP TO 40.PROMISE CREATIVE ARTS CENTER - THE PROMISE CREATIVE ARTS CENTER WAS DESIGNED TO FOSTER A SENSE OF CREATIVITY FOR THE RESIDENTS WITH SPECIAL NEEDS, AS WELL AS FOR THE ENTIRE COMMUNITY. ONE OF PROMISE'S PLANNED SOCIAL ENTERPRISES, THE ARTS CENTER FEATURES A LARGE STUDIO AND OUTDOOR PATIO AND THE WORK OF THE RESIDENTS IS ON DISPLAY AT THE PROMISE CAFE & BAKERY AND IS AVAILABLE FOR PURCHASE, WHICH DIRECTLY SUPPORTS THE ORGANIZATION'S ART PROGRAM. THE SPACE CAN BE RENTED OUT FOR EVENTS AND PRIVATE CLASSES AND THE ORGANIZATION WELCOMES ARTISTS FROM THROUGHOUT THE AREA WHO WOULD LIKE TO HOST THEIR OWN ART CLASSES AND WORKSHOPS.PROMISE SWEET SUE'S SALON - LOCATED AT THE PROMISE MAIN CAMPUS, SWEET SUE'S SALON PROVIDES A ONE-ON-ONE EXPERIENCE FOR CLIENTS OUT IN THE COMMUNITY AS WELL AS FOR OUR PROMISE RESIDENTS. A FULL-SERVICE SALON, SWEET SUE'S IS DISABILITY-FRIENDLY AND CATERS TO THOSE WITH SPECIAL NEEDS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $936,333
Program Service Revenue $307,852
Investment Income $125,825
Other Revenue $556,134
TOTAL REVENUE $1,926,144

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,114,681
Fundraising Expenses $93,575
Program Expenses $1,365,490
Other Expenses $584,727
TOTAL EXPENSES $1,699,408

Year-over-Year Comparison

2023 2022 Change
Revenue $1,926,144 $2,100,149 -0.1%
Expenses $1,699,408 $1,727,175 0.0%
Net Income $226,736 $372,974 -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
10
Independent Members
10
Employees
75
Volunteers
75

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
5
$152,250
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DR LORI D BRADSTREET CHAIR 2.00
Officer Director
$0 $0 $0
TERRY L LOCKE VICE CHAIR 2.00
Officer Director
$0 $0 $0
WAYNE COOPER TREASURER 2.00
Officer Director
$0 $0 $0
FRANK J VEGA DIRECTOR 2.00
Director
$0 $0 $0
MELISSA DUGAS DIRECTOR 2.00
Director
$0 $0 $0
MARGARET LOHAN-AVALOS DIRECTOR 2.00
Director
$0 $0 $0
LYNN WILSON SECRETARY 2.00
Officer Director
$0 $0 $0
CINDY DROPESKI DIRECTOR 2.00
Director
$0 $0 $0
MASON WILLIAMS DIRECTOR 2.00
Director
$0 $0 $0
HAROLD EDWARD RUSTY MELLE DIRECTOR 2.00
Director
$0 $0 $0
JEFF KIEL CEO 40.00
Officer
$145,140 $7,110 $152,250
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 $1,926,144 $1,699,408 $5,531,883 $226,736
2022 $2,100,149 $1,727,175 $5,412,626 $372,974
2021 $1,622,673 $1,511,637 $6,433,765 $111,036
2020 $1,660,995 $1,410,829 $6,233,813 $250,166
2019 $1,713,674 $1,414,510 $6,082,357 $299,164
2018 $4,397,775 $1,883,074 $6,048,485 $2,514,701
2017 $1,912,458 $1,305,656 $3,740,560 $606,802
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