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EIN 20-1608155

Promise Academy

IRS 501(c) type
501(c)(3)
Num. employees
74
City
Memphis
State
Tennessee
Year formed
2004
Most recent tax filings
2022-06-01
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
$6,428,391
2022
Total expenses
$5,692,124
2022
Total assets
$7,397,276
2022
Num. employees
74
2022

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 cultural 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. The average number of students attending in the current year was 314.

Who funds Promise Academy

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Community Foundation of Greater MemphisGeneral Operational Support$1,575,000
Fleetwood FoundationGeneral & Unrestricted$60,000
Bill and Crissy Haslam FoundationSupport for Tutoring Programs$6,750
...and 7 more grants received

Personnel at Promise Academy

NameTitleCompensation
Beth BaileyDirector of Finance and Operations$110,816
Patrick WashingtonExecutive Director$0
Kiasi MalonePast Principal - Pa Hollywood$137,843
Thomas A BeazleyPast Executive Director$103,908
Mary CornpropstFinance Committee$0
...and 4 more key personnel

Financials for Promise Academy

RevenuesFYE 06/2022
Total grants, contributions, etc.$3,172,838
Program services$2,697,922
Investment income and dividends$-3,486
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$-3,690
Net income from fundraising events$1,069
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$563,738
Total revenues$6,428,391

Form 990s for Promise Academy

Fiscal year endingDate received by IRSFormPDF link
2022-062023-05-15990View PDF
2021-062021-12-22990View PDF
2020-062021-04-06990View PDF
2019-062020-09-22990View PDF
2018-062019-04-15990View PDF
...and 8 more Form 990s
Data update history
July 5, 2023
Posted financials
Added Form 990 for fiscal year 2022
June 29, 2023
Updated personnel
Identified 2 new personnel
June 27, 2023
Posted financials
Added Form 990 for fiscal year 2021
June 25, 2023
Used new vendors
Identified 4 new vendors, including , , , and
May 17, 2023
Used new vendors
Identified 3 new vendors, including , , and
Nonprofit Types
SchoolsK-12 schoolsHeadquarter / parent organizationsCharities
Issues
Education
Characteristics
Receives government fundingTax deductible 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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