Pearls Of Promise Foundation Inc
- Assets
- $430.9k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 05/2003
- Data as of
- 12/2022
- EIN
- 37-1422562
Organization Overview
Pearls Of Promise Foundation Inc is located in Detroit, MI. The organization was established in 2003. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Pearls Of Promise Foundation Inc 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 12/2022, Pearls Of Promise Foundation Inc generated $105.5k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 36.8% each year . All expenses for the organization totaled $52.7k during the year ending 12/2022. While expenses have increased by 25.2% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
SEE SCH O PAGE 2
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Crystal Y Sewell President | 4 | $0 | |
Robyn Thomas Vice President | 4 | $0 | |
Kysha Jones Financial Secretary | 4 | $0 | |
Andrea Young Treasurer | 4 | $0 | |
Ivy Fieldsreleford Director At Large | 2 | $0 | |
Nakia Plummer Director At Large | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,406 |
| Total Program Service Revenue | $71,400 |
| Membership dues | $6,037 |
| Investment income | $1,000 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $15,673 |
| Other Revenue | $0 |
| Total Revenue | $105,516 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $6,015 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $209 |
| Other expenses | $6,816 |
| Total expenses | $52,680 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $403,448 |
| Other assets | $0 |
| Total assets | $430,909 |
| Total liabilities | $0 |
| Net assets or fund balances | $430,909 |