Birmingham Promise Inc
- Assets
- $10.4m
- Revenue
- $8.4m
- Investments
- $0.0
- Employees
- 13
- Location
- Birmingham, AL
- Founding
- Data as of
- 12/2021
- EIN
- 84-2830568
Organization Overview
Birmingham Promise Inc is located in Birmingham, AL. 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 12/2021, Birmingham Promise Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Birmingham Promise 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 12/2021, Birmingham Promise Inc generated $8.4m in total revenue. All expenses for the organization totaled $3.2m during the year ending 12/2021.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF BIRMINGHAM PROMISE IS TO TRANSFORM FUTURES AND ADVANCE BIRMINGHAM BY RE-ENGINEERING EDUCATION AND WORKFORCE SYSTEMS. THE BIRMINGHAM PROMISE HAS TWO PRIMARY COMPONENTS: (1) YOUTH APPRENTICESHIPS, WHICH PROVIDE BIRMINGHAM CITY SCHOOL (BCS) JUNIORS AND SENIORS WITH PAID, HIGH-QUALITY WORK-BASED LEARNING EXPERIENCES AND (2) POSTSECONDARY FINANCIAL SUPPORT, WHICH ENABLES BCS GRADUATES TO ATTEND IN-STATE, PUBLIC INSTITUTIONS TUITION-FREE. THE GOAL IS TO SERVE AT LEASE 10,000 BCS STUDENTS BY 2030.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BIRMINGHAM PROMISE MAKES COLLEGE AFFORDABLE AND ACCESSIBLE BY OFFERING SCHOLARSHIPS AND APPRENTICESHIP OPPORTUNITIES TO BIRMINGHAM CITY SCHOOLS STUDENTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rachel Harmon Executive Director | Officer | 40 | $110,000 |
Leroy Abrahams Board Chairman | Officer | 1 | $0 |
Josh Carpenter Treasurer | Officer | 1 | $0 |
Mayor Randall Woodfin Director | Trustee | 1 | $0 |
Anthony Smoke Director (outgoing) | Trustee | 1 | $0 |
Ralph Williams Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,562,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,864,608 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,427,108 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,427,108 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,924,913 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $110,000 |
| Compensation of current officers, directors, key employees. | $16,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $334,961 |
| Pension plan accruals and contributions | $12,675 |
| Other employee benefits | $0 |
| Payroll taxes | $34,401 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,109 |
| Fees for services: Accounting | $27,891 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $130,399 |
| Advertising and promotion | $261,467 |
| Office expenses | $5,315 |
| Information technology | $11,841 |
| Royalties | $0 |
| Occupancy | $20,109 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,437 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $56,810 |
| Insurance | $48,525 |
| All other expenses | $9,917 |
| Total functional expenses | $3,232,678 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,265,040 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $127,179 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,392,219 |
| Accounts payable and accrued expenses | $128,785 |
| 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 | $128,785 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $10,263,434 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $10,392,219 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Birmingham Promise Inc has recieved totaling $2,435,000.
| Awarding Organization | Amount |
|---|---|
Birmingham Business Alliance Foundation Birmingham, AL PURPOSE: The Foundation provided a grant to Birmingham Promise for expenses incurred in connection with the charitable activities of Birmingham Promise. | $2,000,000 |
New America Foundation Washington, DC PURPOSE: SUPPORT GRANTEE'S ROLE AS A PARTNERSHIP TO ADVANCE YOUTH APPRENTICESHIP NATIONAL PARTNER | $300,000 |
The Community Foundation Of Greater Birmingham Birmingham, AL PURPOSE: GENERAL SUPPORT | $100,000 |
Deloitte Foundation Stamford, CT PURPOSE: MARKETPLACE GRANT | $35,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hca Healthcare Foundation Nashville, TN | $97,582,102 | $44,453,527 |
Vinik Family Foundation Tampa, FL | $192,173,639 | $29,773,809 |
The Hartwell Foundation Corporation Memphis, TN | $88,595,532 | $17,280,759 |
Hire Heroes Usa Alpharetta, GA | $7,840,449 | $13,205,192 |
Scholarships For Kids Inc Birmingham, AL | $21,791,162 | $14,541,038 |
Apogee Georgia School Choice Scholarship Fund Atlanta, GA | $21,549,156 | $14,581,744 |
Special Operations Warrior Foundation Tampa, FL | $175,400,415 | $16,396,122 |
Inspire Brands Foundation Inc Atlanta, GA | $11,528,068 | $11,993,911 |
Floridamakes Inc Orlando, FL | $1,478,174 | $9,967,367 |
Golf Club Of Tennessee Kingston Springs, TN | $25,072,540 | $8,179,428 |
Watson-Brown Foundation Inc Thomson, GA | $0 | $9,697,974 |
Woodward Hines Education Foundation Jackson, MS | $222,031,290 | $28,726,652 |