Promise A New Way Inc

EIN: 920664200 501(c)(3) Housing & Shelter

Fort Lauderdale, FL

Total Revenue
$2,553,402
Total Expenses
$2,574,783
Total Assets
$54,373
Net Assets
$-18,326
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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
2013
Legal Domicile
FL
Principal Officer
Timothy Henry
Phone
5616673120
Tax Period
2024-01-01 to 2024-12-31

Promise A New Way Inc, founded in 2013, is a community nonprofit in the Housing & Shelter sector that reported $2.6M in total revenue in fiscal year 2024.

Mission

To provide community housing and outreach for those in need.

Program Service Accomplishments

Program 1
Expenses: $2,370,265 Revenue: $2,553,402

The organizations program service accomplished providing housing and community outreach to those in need.

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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 $2,553,402
Investment Income $0
Other Revenue $0
TOTAL REVENUE $2,553,402

Expense Breakdown

Grants Paid $0
Salaries & Benefits $351,578
Fundraising Expenses $0
Program Expenses $2,370,265
Other Expenses $2,223,205
TOTAL EXPENSES $2,574,783

Year-over-Year Comparison

2024 2023 Change
Revenue $2,553,402 N/A N/A
Expenses $2,574,783 N/A N/A
Net Income $-21,381 N/A N/A
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
3
Independent Members
N/A
Employees
15
Volunteers
3

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
$18,462
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Timothy Henry President 10.00
Officer
$18,462 $0 $18,462
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 $2,553,402 $2,574,783 $54,373 $-21,381
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