Lansing Promise
- Assets
- $407.3k
- Revenue
- $475.5k
- Investments
- $0.0
- Employees
- 2
- Location
- Lansing, MI
- Founding
- 09/2012
- Data as of
- 06/2021
- EIN
- 45-3363322
Organization Overview
Lansing Promise is located in Lansing, MI. The organization was established in 2012. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2021, Lansing Promise employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lansing Promise 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 06/2021, Lansing Promise generated $475.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $312.7k during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Lansing Promise has awarded 21 individual grants totaling $2,626,006. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
LANSING PROMISE HELPS STUDENTS IN GAINING ACCESS TO HIGHER EDUCATION THROUGH READINESS AND SCHOLARSHIPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE "PLACE-BASED" SCHOLARSHIPS TO STUDENTS WHO RESIDE IN LANSING SCHOOL DISTRICT TO HELP THE STUDENTS GAIN ACCESS TO HIGHER EDUCATION AND COLLEGE PREPARATORY PROGRAMMING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Justin Sheehan Executive Director | Officer | 40 | $102,582 |
Jon Lundy Treasurer | OfficerTrustee | 3 | $0 |
Whitney Anderson-Harrell Vice Chair Board Chair | OfficerTrustee | 0.5 | $0 |
Kellie Dean Board Chair | OfficerTrustee | 3 | $0 |
Nino Rodriguez Secretary | OfficerTrustee | 1.5 | $0 |
Dominic Carbone Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $472,138 |
| Investment income | $116 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $3,277 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $475,531 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $127,118 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $35,045 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,657 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,183 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $29,809 |
| Office expenses | $7,998 |
| Information technology | $26,040 |
| Royalties | $0 |
| Occupancy | $10,008 |
| Travel | $37 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,285 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,694 |
| All other expenses | $0 |
| Total functional expenses | $312,741 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $344,653 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $61,668 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $407,321 |
| Accounts payable and accrued expenses | $12,655 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $12,655 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $394,666 |
Grants Awarded
Over the last fiscal year, Lansing Promise has awarded $107,465 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
LANSING COMM COLLEGE PURPOSE: Scholarships | $70,885 |
Olivet, MI PURPOSE: Scholarships | $16,080 |
Lansing, MI PURPOSE: Readiness | $10,500 |
Lansing, MI PURPOSE: Readiness | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Lansing Promise has recieved totaling $80,454.
| Awarding Organization | Amount |
|---|---|
Delta Dental Plan Of Michigan Okemos, MI PURPOSE: CHARITABLE DONATION | $50,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $17,915 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $11,500 |
The Louis Berkowitz Family Foundation Inc East Setauket, NY PURPOSE: FOR DONEE'S EXEMPT PURPOSE | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $39 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Richard U Light Foundation Kalamazoo, MI | $629,730 | $25,417,215 |
Skillman Foundation Detroit, MI | $412,503,854 | $53,699,386 |
Northwestern Mutual Life Foundation Inc Milwaukee, WI | $106,326,341 | $38,353,841 |
Cardinal Services Inc Of Indiana Warsaw, IN | $28,675,162 | $26,373,889 |
Kalamazoo Promise Kalamazoo, MI | $7,251,327 | $23,596,440 |
College Now Greater Cleveland Inc Cleveland, OH | $24,271,314 | $18,465,003 |
Knowledgeworks Foundation Cincinnati, OH | $34,010,195 | $7,717,304 |
Ruth Mott Foundation Flint, MI | $290,091,185 | $30,117,543 |
Jewell Educational Fund Owosso, MI | $398,993,901 | $18,985,075 |
Pleasant T Rowland Foundation Brookfield, WI | $94,312,384 | $11,804,849 |
Perkins Malo Hunter Foundation Holland, MI | $51,295,166 | -$331,905 |
Thompson Foundation Plymouth, MI | $5,518,000 | $2,844,461 |