Promise Development Corporation

Human Services · Memphis, Tennessee

262 Chelsea Ave Suite 101, Memphis, TN 38107-2407

EIN: 311708526· Founded: Aug 2000· 26 years active· Filing Year: 2023

Annual Revenue

$3.5M

Total Expenses

$3.5M

Total Assets

$7.2M

Program Spending

37%

of expenses go to programs

Compensation & Payroll

Total Officer Compensation

$150K

4.3% of total expenses

All officers, directors, and key employees combined

Other Salaries & Wages

$622K

Total Payroll

$772K

22% of total expenses

Where the Money Goes

37%

Programs: 37%

Payroll: 22%

Other overhead: 63%

Program Revenue$1.3M (37%)

Total Expenses$3.5M (99%)

Payroll$772K (22%)

Overhead (non-program)63%

Trust Score Breakdown

Program Spending Ratio

37% of expenses go to programs

40%

Revenue & Stability

$3.5M annual revenue

15%

Executive Compensation

$150K total officer comp (4.3% of expenses)

20%

Filing Recency

Most recent filing: 2023

15%

Asset Strength

$7.2M in assets

10%

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Data from IRS Form 990 filing (2023). Trust scores are calculated from public financial data and do not constitute endorsement or investment advice.