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EIN 20-1608155

Promise Academy

IRS 501(c) type
501(c)(3)
Num. employees
66
City
Memphis
State
Tennessee
Year formed
2004
Most recent tax filings
2024-06-01
NTEE code, primary
B24: Elementary School
Description
To teach and inspire the mind, body and spirit of our children so that they can rise above the rest and succeed in any academic and cultural setting. Promise Academy is committed to preparing children to excel in the nation’s most rigorous schools.
Total revenues
$5,290,516
2024
Total expenses
$5,568,628
2024
Total assets
$4,194,373
2024
Num. employees
66
2024

Program areas at Promise Academy

Our central work is to teach and inspire the mind, body and spirit of our children so that they can rise above the rest and succeed in any academic and cultral setting. Promise Academy is committed to preparing children to excel in the nation's most rigorous schools. The school provides an alternative means within the public school system to accomplish necessary outcomes of education.

Who funds Promise Academy

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
50canTo Support Summer Boost$407,000
Fleetwood FoundationLavinia Consulting Fund for Promise Academy Spring Hill$160,166
Fleetwood FoundationLavinia Consulting Fund for Promise Academy Hollywood$151,082
...and 7 more grants received

Personnel at Promise Academy

NameTitleCompensation
Willie RichardsonChief of Technology$100,734
Dr. Kiasi MaloneAdministration Campus Hollywood Springhill Staff$151,536
Patrick WashingtonExecutive Director$0
Beth BaileyChief Financial Officer / Director of Finance and Operations$110,816

Financials for Promise Academy

RevenuesFYE 06/2024
Total grants, contributions, etc.$5,009,363
Program services$255,672
Investment income and dividends$25,481
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$5,290,516

Form 990s for Promise Academy

Fiscal year endingDate received by IRSFormPDF link
2024-062025-02-11990View PDF
2023-062025-02-11990View PDF
2022-062023-05-15990View PDF
2021-062021-12-22990View PDF
2020-062021-04-06990View PDF
...and 10 more Form 990s
Data update history
January 19, 2025
Received grants
Identified 10 new grant, including a grant for $407,000 from 50can
October 20, 2024
Updated personnel
Identified 3 new personnel
July 17, 2024
Used new vendors
Identified 1 new vendor, including
February 4, 2024
Received grants
Identified 1 new grant, including a grant for $767,247 from Fleetwood Foundation
December 28, 2023
Received grants
Identified 2 new grant, including a grant for $638,500 from Community Foundation of Greater Memphis
Nonprofit Types
SchoolsK-12 schoolsHeadquarter / parent organizationsCharities
Issues
Education
Characteristics
Receives government fundingTax deductible donationsAccepts online donations
General information
Address
1346 Bryan St
Memphis, TN 38108
Metro area
Memphis, TN-MS-AR
County
Shelby County, TN
Website URL
promiseacademy.com/ 
Phone
(901) 324-4456
IRS details
EIN
20-1608155
Fiscal year end
June
Taxreturn type
Form 990
Year formed
2004
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
B24: Elementary School
NAICS code, primary
611110: Elementary and Secondary Schools
Parent/child status
Central organization
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