Promethean Foundation
- Assets
- $11.0k
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Union City, TN
- Founding
- 09/2005
- Data as of
- 12/2021
- EIN
- 20-1690784
Organization Overview
Promethean Foundation is located in Union City, TN. The organization was established in 2005. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Promethean Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Promethean Foundation generated $1.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $1.6m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Promethean Foundation has awarded 91 individual grants totaling $12,338,792. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALL FUNDS ARE TO PROVIDE DAYCARE SCHOLARSHIPS FOR QUALIFYING APPLICANTS. THESE SCHOLARSHIP RECIPIENTS WILL BE PROVIDED WITH DAYCARE IN A QUALIFYING DAYCARE FACILITY THAT MEETS THE MORAL, SOCIAL, AND EDUCATIONAL VALUES THAT THE FOUNDATION FEELS ARE NECESSARY TO PROVIDE AN EXCELLENT BACKGROUND FOR A SUCCESSFUL LIFE. THESE APPLICANTS WILL BE MONITERED THROUGHOUT THEIR SCHOOL YEARS. THE SCHOLARSHIPS ARE PAID DIRECTLY TO THE DAYCARE FACILITIES. THESE SCHOLARSHIPS WERE PAID TO LITTLE LAMBS TWO.
THESE SCHOLARSHIPS WERE PAID TO CHILDRENS CORNER. SEE ITEM 1 FOR DETAIL OF SCHOLARSHIP ACTIVITY.
THESE SCHOLARSHIPS WERE PAID TO PUMPKIN PATCH. SEE ITEM 1 FOR DETAIL OF SCHOLARSHIP ACTIVITY.
THESE SCHOLARSHIPS WERE PAID TO FIRST FRIENDS. SEE ITEM 1 FOR DETAIL OF SCHOLARSHIP ACTIVITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chuck Doss President/di | 0 | $0 | |
William Martin Sisco Secretary/di | 0 | $0 | |
Hadley Malone Treasurer/di | 0 | $0 | |
Dan Boykin Director | 0 | $0 | |
Roger Williams Director | 0 | $0 | |
Gary Houston Vice Pres/di | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,470,759 |
| Interest on Savings | $73 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,470,832 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $139,733 |
| Pension plans, employee benefits | $29,436 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $2,663 |
| Occupancy | $14,079 |
| Travel, conferences, and meetings | $15,379 |
| Printing and publications | $3,238 |
| Other expenses | $156,170 |
| Total operating and administrative expenses | $365,745 |
| Contributions, gifts, grants paid | $1,223,150 |
| Total expenses and disbursements | $1,588,895 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,286 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $7,559 |
| Other assets | $200 |
| Total assets | $11,045 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Promethean Foundation has awarded $1,223,150 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
LITTLE LAMBS TWO PURPOSE: QUALIFYING DAYCARE SCHOLARSHIPS | $285,630 |
CHILDREN'S CORNER PURPOSE: QUALIFYING DAYCARE SCHOLARSHIPS | $176,174 |
PUMPKIN PATCH PURPOSE: QUALIFYING DAYCARE SCHOLARSHIPS | $167,201 |
FIRST FRIENDS PURPOSE: QUALIFYING DAYCARE SCHOLARSHIPS | $137,380 |
LITTLE LAMBS PURPOSE: QUALIFYING DAYCARE SCHOLARSHIPS | $94,656 |
KARE BARE PURPOSE: QUALIFYING DAYCARE SCHOLARSHIPS | $91,115 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Promethean Foundation has recieved totaling $1,689,780.
| Awarding Organization | Amount |
|---|---|
Robert E And Jenny D Kirkland Foundation Union City, TN PURPOSE: PROVIDE DAYCARE FOR AT RISK CHILDREN | $1,689,780 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
C D Spangler Foundation Inc Charlotte, NC | $547,764,463 | $34,692,558 |
Paula And Rodger Riney Foundation St Louis, MO | $118,536,395 | $1,770,419 |
The Henry W Grady Health System Foundation Inc Atlanta, GA | $41,862,389 | $12,481,516 |
Willard And Pat Walker Charitable Foundation Inc Fayetteville, AR | $353,155,323 | $36,054,174 |
Haslam Family Foundation Inc Knoxville, TN | $7,594,271 | $428,205 |
The Ezrah Charitable Trust Charlotte, NC | $259,414,844 | $89,054,665 |
Robert E And Jenny D Kirkland Foundation Union City, TN | $287,925,102 | $17,113,043 |
Speer Foundation Brentwood, TN | $160,979,713 | $8,246,449 |
The Haslam 3 Foundation Inc Knoxville, TN | $5,285,692 | $10,045,433 |
Phil J And Alice S Sheridan Foundation Inc Macon, GA | $17,357,251 | $6,663,970 |
Davis Love Iii Foundation St Simons Island, GA | $5,238,841 | $10,992,325 |
Scarlett Family Foundation Nashville, TN | $163,054,305 | $18,551,241 |