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Nonprofiteer
← PROMISE OF HOPE FOUNDATION INC

Form 990 for tax year 2024

Filed by PROMISE OF HOPE FOUNDATION INC.

Totals

Total revenue
$793,330
Total expenses
$940,311
Contributions and grants received
$793,330
Grants paid
$544,234
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$47,959
Total liabilities, end of year
$36,974
Net assets or fund balances, end of year
$10,985
Program services expenses (Part IX)
$544,234
Management and general expenses
$28,828
Fundraising expenses
$367,249
Program service expenses (Part III)
$544,234

Program services were 57.9% 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

    $547,592

  • 1f · All other contributions, gifts and grants

    $245,738

  • 8a · Fundraising events: contributions included on line 1c

    $547,592

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $544,234 · program services $544,234

  • 11a · Fees: management

    total $9,738 · program services $0 · management and general $0 · fundraising $9,738

  • 11b · Fees: legal

    total $4,575 · program services $0 · management and general $4,575 · fundraising $0

  • 12 · Advertising and promotion

    total $1,072 · program services $0 · management and general $1,072 · fundraising $0

  • 13 · Office expenses

    total $1,778 · program services $0 · management and general $1,778 · fundraising $0

  • 14 · Information technology

    total $12,132 · program services $0 · management and general $12,132 · fundraising $0

  • 16 · Occupancy

    total $357,511 · program services $0 · management and general $0 · fundraising $357,511

  • 20 · Interest

    total $600 · program services $0 · management and general $600 · fundraising $0

  • 23 · Insurance

    total $1,799 · program services $0 · management and general $1,799 · fundraising $0

  • 24a · Other expenses: Supplies

    total $6,098 · program services $0 · management and general $6,098 · fundraising $0

  • 24b · Other expenses: Telephone

    total $774 · program services $0 · management and general $774 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $108,066 · end of year $42,959

  • 9 · Prepaid expenses and deferred charges

    beginning of year $59,900 · end of year $5,000

  • 17 · Accounts payable and accrued expenses

    end of year $974

  • 19 · Deferred revenue

    beginning of year $10,000 · end of year $21,000

  • 22 · Loans and payables to officers and key people

    end of year $15,000

  • 27 · Net assets without donor restrictions

    beginning of year $157,966 · end of year $10,985

Mission and programs · 2024

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 $544,234 · Revenue $793,330

As filed on the 2024 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

Provenance

Return type
form_990
Tax year
2024
Filed
14 May 2025
IRS schema version
2024v5.1
Source object
202521359349313422

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