L โ€” Housing & ShelterEIN: 311708526ยท Ruling Year: 2000

Promise Development Corporation

Memphis, Tennessee

AHealth Score
88A

Financial Health Score

9-metric score across financial health, operational efficiency, and organizational resilience. Based on IRS Form 990 data.

Excellent

๐Ÿ’ฐ
$3.5M
Total Revenue
๐Ÿ“Š
$3.5M
Total Expenses
๐Ÿฆ
$6.3M
Net Assets
๐Ÿ“‹
$869K
Total Liabilities

Financial Trends

5-Year Trend Analysis

Financial Health Indicators

Revenue Growth
-18.2%
Year-over-year change (2022 โ†’ 2023)
Net Margin
+1.4%
Revenue minus expenses as % of revenue
Working Capital Ratio
1.84
Net assets divided by total expenses
Liabilities-to-Assets
12.0%
Total liabilities as % of total assets

Filing History

13 filings on record
YearRevenueExpensesAssets
2023$3,499,542โ†“18%$3,450,236โ†‘8%$7,218,735โ†‘1%
2022$4,277,565โ†‘41%$3,199,253โ†‘8%$7,150,223โ†‘23%
2021$3,033,896โ†“18%$2,975,229โ†‘7%$5,823,077โ†“3%
2020$3,719,840โ†‘48%$2,774,838โ†‘17%$5,992,520โ†‘19%
2019$2,516,184โ†“3%$2,380,334โ†‘5%$5,024,263โ†‘1%
2018$2,584,353โ†‘3%$2,257,620โ†“2%$4,996,655โ†‘9%
2017$2,513,965โ†‘8%$2,303,514โ†“7%$4,571,899
2016$2,333,806โ†“8%$2,478,829โ†“27%$4,582,302โ†“3%
2015$2,528,115โ†‘6%$3,418,175โ†‘75%$4,732,825โ†‘16%
2014$2,384,000โ†“22%$1,958,560โ†‘49%$4,088,362โ†‘15%
2013$3,051,352โ†‘141%$1,314,055โ†‘210%$3,541,010โ†‘95%
2012$1,268,606โ†‘306%$424,008โ†‘68%$1,813,185โ†‘84%
2011$312,306$251,745$985,882

Frequently Asked Questions

What does Promise Development Corporation do?โ–ผ

Promise Development Corporation is a housing & shelter nonprofit organization based in Tennessee. It is classified under NTEE code L25 and is registered as a 501(c) tax-exempt organization with the IRS.

Is Promise Development Corporation financially healthy?โ–ผ

Based on our 9-metric Financial Health Score model, Promise Development Corporation has a score of 88/100 (Grade: A). This score evaluates working capital, surplus consistency, debt ratio, revenue trends, program spending, fundraising efficiency, executive compensation, revenue diversification, and vulnerability indicators.

How much revenue does Promise Development Corporation generate?โ–ผ

Promise Development Corporation reports $3.5M in annual revenue and holds $7.2M in total assets, based on IRS filings.

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Promise Development Corporation โ€” Memphis, TN | GiveScope