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← PROMISE OF HOPE FOUNDATION INC

Form 990 for tax year 2023

Filed by PROMISE OF HOPE FOUNDATION INC.

Totals

Total revenue
$638,956
Total expenses
$554,198
Contributions and grants received
$633,618
Grants paid
$272,764
Program service revenue
$0
Investment income
$5,338
Other revenue
$0
Total assets, end of year
$157,966
Total liabilities, end of year
$10,000
Net assets or fund balances, end of year
$147,966
Program services expenses (Part IX)
$538,841
Management and general expenses
$15,357
Fundraising expenses
$0
Program service expenses (Part III)
$538,841

Program services were 97.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $492,257

  • 1f · All other contributions, gifts and grants

    $141,361

  • 3 · Investment income

    total $5,338 · related or exempt $5,338

  • 8c · Net income from fundraising events

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $75,918 · program services $75,918

  • 2 · Grants to domestic individuals

    total $196,846 · program services $196,846

  • 11c · Fees: accounting

    total $3,975 · management and general $3,975

  • 13 · Office expenses

    total $3,363 · management and general $3,363

  • 14 · Information technology

    total $5,575 · management and general $5,575

  • 23 · Insurance

    total $1,697 · management and general $1,697

  • 24a · Other expenses: Venue and related costs

    total $255,069 · program services $255,069

  • 24b · Other expenses: Credit card fees

    total $11,008 · program services $11,008

  • 24c · Other expenses: Telephone

    total $747 · management and general $747

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $40,291 · end of year $108,066

  • 9 · Prepaid expenses and deferred charges

    beginning of year $22,917 · end of year $49,900

  • 19 · Deferred revenue

    end of year $10,000

  • 27 · Net assets without donor restrictions

    beginning of year $63,208 · end of year $147,966

Mission and programs · 2023

Mission

Fundraising events to raise revenue to contribute to needy individuals due to financial hardship, sickness, or due to natural disasters.

Activities or mission (Part I)

Fundraising events to raise charitable contributions to help individuals in need sickness financial hardship natural disasters

  • Donations Venue and related costs Credit card fees

    Expenses $538,841 · Revenue $638,956

As filed on the 2023 return.

Listed in Part VII

  • Michael Vandenburg

    President

    Total calculated
    $0
    Hours/week
    30

  • Scott Colletti

    Treasurer

    Total calculated
    $0
    Hours/week
    20

  • Michael Vandenburg Jr

    Secretary

    Total calculated
    $0
    Hours/week
    20

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

  • Suffolk County PBA

    $50,285

    Charitable donation

  • Nassau County PBA

    $50,000

    Charitable donation

  • New York City PBA

    $25,000

    Charitable donation

  • The Marty Lyons Foundation

    $20,000

    Charitable donation

  • Hope House Ministries

    $15,000

    Charitable donation

  • AMT Childrens of Hope Foun

    $12,000

    Charitable donation

  • Brentwood Booster Club

    $10,000

    Charitable donation

Provenance

Return type
form_990
Tax year
2023
Filed
30 October 2024
IRS schema version
2023v5.1
Source object
202403049349302050

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