Totals
- Total revenue
- $2,350,758
- Total expenses
- $1,247,624
- Contributions and grants received
- $2,040,192
- Grants paid
- $717,898
- Program service revenue
- $0
- Investment income
- $307,166
- Other revenue
- $3,400
- Total assets, end of year
- $7,185,761
- Total liabilities, end of year
- $35,423
- Net assets or fund balances, end of year
- $7,150,338
- Program services expenses (Part IX)
- $892,377
- Management and general expenses
- $162,345
- Fundraising expenses
- $192,902
- Program service expenses (Part III)
- $892,377
Program services were 71.5% 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.
-
1e · Government grants (contributions)
$1,475,000
-
1f · All other contributions, gifts and grants
$565,192
-
3 · Investment income
total $307,166 · excluded $307,166
-
8a · Fundraising events: gross income
$3,400
-
8b · Fundraising events: direct expenses
$0
-
8c · Net income from fundraising events
total $3,400 · excluded $3,400
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $717,898 · program services $717,898
-
5 · Compensation of officers, directors and key employees
total $146,744 · program services $36,686 · management and general $73,372 · fundraising $36,686
-
7 · Other salaries and wages
total $150,152 · program services $46,408 · management and general $18,308 · fundraising $85,436
-
9 · Other employee benefits
total $23,556 · program services $6,593 · management and general $7,274 · fundraising $9,689
-
10 · Payroll taxes
total $24,787 · program services $6,938 · management and general $7,654 · fundraising $10,195
-
11b · Fees: legal
total $2,700 · management and general $2,700
-
11c · Fees: accounting
total $13,230 · management and general $13,230
-
11e · Fees: professional fundraising services
total $12,690 · fundraising $12,690
-
11g · Fees: other
total $3,282 · management and general $3,282
-
12 · Advertising and promotion
total $13,807 · fundraising $13,807
-
13 · Office expenses
total $12,419 · program services $3,476 · management and general $3,835 · fundraising $5,108
-
14 · Information technology
total $28,668 · management and general $28,668
-
19 · Conferences, conventions and meetings
total $3,595 · program services $1,006 · management and general $1,110 · fundraising $1,479
-
23 · Insurance
total $2,378 · management and general $2,378
-
24a · Other expenses: SCHOLAR AND RELATED EXP
total $73,372 · program services $73,372
-
24b · Other expenses: DEVELOPMENT EXPENSE
total $17,812 · fundraising $17,812
-
24c · Other expenses: OTHER EXPENSE
total $534 · management and general $534
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $146,528 · end of year $294,667
-
3 · Pledges and grants receivable
beginning of year $24,758 · end of year $14,370
-
12 · Investments: other securities
beginning of year $5,913,608 · end of year $6,876,724
-
17 · Accounts payable and accrued expenses
beginning of year $27,216 · end of year $20,646
-
25 · Other liabilities
beginning of year $10,908 · end of year $14,777
-
27 · Net assets without donor restrictions
beginning of year $5,976,841 · end of year $6,974,093
-
28 · Net assets with donor restrictions
beginning of year $69,929 · end of year $176,245
Mission and programs · 2024
Mission
WATERBURY PROMISE, INC. IS A CONNECTICUT CHARITABLE ORGANIZATION DEDICATED TO INCREASING COLLEGE ASPIRATIONS, REDUCING FINANCIAL BARRIERS AND INSPIRING EVERY WATERBURY STUDENT TOWARD POST-SECONDARY EDUCATION AND COMPLETION. THE PROGRAM'S COMPREHENSIVE COLLEGE ACCESS, SUCCESS AND CAREER READINESS MODEL IS CENTERED ON A GENEROUS LAST-DOLLAR SCHOLARSHIP DESIGNED TO BRIDGE THE FINANCIAL GAP AFTER ALL INDIVIDUAL GRANTS, FINANCIAL AID, AND OTHER SCHOLARSHIPS HAVE BEEN APPLIED. EQUALLY IMPORTANT, ARE THE WRAP-AROUND SUPPORT SERVICES AND RESOURCES PROVIDED TO ENSURE STUDENTS PERSIST TO GRADUATION, ARE CAREER READY, AND EARN A LIFE-CHANGING DEGREE. THIS HOLISTIC MODEL FOCUSES ON BREAKING DOWN ALL BARRIERS (FINANCIAL, ACADEMIC, SOCIAL-EMOTIONAL, ETC.) TO POST-SECONDARY EDUCATION AND COMPLETION.
-
WATERBURY PROMISE, INC. IS A CONNECTICUT CHARITABLE ORGANIZATION DEDICATED TO INCREASING COLLEGE ASPIRATIONS, REDUCING FINANCIAL BARRIERS AND INSPIRING EVERY WATERBURY STUDENT TOWARD POST-SECONDARY EDUCATION AND COMPLETION. THE PROGRAM'S COMPREHENSIVE COLLEGE ACCESS, SUCCESS AND CAREER READINESS MODEL IS CENTERED ON A GENEROUS LAST-DOLLAR SCHOLARSHIP DESIGNED TO BRIDGE THE FINANCIAL GAP AFTER ALL INDIVIDUAL GRANTS, FINANCIAL AID, AND OTHER SCHOLARSHIPS HAVE BEEN APPLIED. EQUALLY IMPORTANT, ARE THE WRAP-AROUND SUPPORT SERVICES AND RESOURCES PROVIDED TO ENSURE STUDENTS PERSIST TO GRADUATION, ARE CAREER READY, AND EARN A LIFE-CHANGING DEGREE. THIS HOLISTIC MODEL FOCUSES ON BREAKING DOWN ALL BARRIERS (FINANCIAL, ACADEMIC, SOCIAL-EMOTIONAL, ETC.) TO POST-SECONDARY EDUCATION AND COMPLETION.
Expenses $892,377 · Grants $717,898
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Paul K Pernerewski JrPAUL K PERNEREWSKI JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Darren SchwartzDARREN SCHWARTZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kelonda MaullKELONDA MAULL
EXECUTIVE DIRECTOR
- Total calculated
- $163,285
- From this org
- $0
- From related orgs
- $145,305
- Other
- $17,980
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $0 + $145,305 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0 + $17,980 related
- Filer's total
- $0 + $163,285 related
-
Adrienne ParkmondADRIENNE PARKMOND
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Karen HarveyKAREN HARVEY
BOARD VICE CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Steven E SchneiderSTEVEN E SCHNEIDER
BOARD VICE CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Sean MosleySEAN MOSLEY
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Leeann NealLEEANN NEAL
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Maurice B MosleyMAURICE B MOSLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Neil M O'LearyNEIL M O'LEARY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Marcia TejedaMARCIA TEJEDA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Josh CareyJOSH CAREY
ADVISORY, NON-VOTING MEMBE
- Total calculated
- $0
- Hours/week
- 1
-
Sandra D WilsonSANDRA D WILSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Hedy AyersHEDY AYERS
DIRECTOR OF DEVELOPMENT &
- Total calculated
- $130,956
- From this org
- $0
- From related orgs
- $124,148
- Other
- $6,808
- Hours/week
- 40
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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 8 October 2025
- IRS schema version
- 2024v5.2
- Source object
- 202512969349301551
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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