Quick charity verification for Promesa Foundation Inc (EIN: 133411787)
Verdict: Promesa Foundation Inc appears trustworthy
85/100Mission Score
$3.1MRevenue
$28.9MAssets
3Red Flags
4Strengths
Red Flags
Consistent high liabilities relative to assets (e.g., $22,137,140 liabilities vs. $28,143,138 assets in 202312)
Occasional operating deficits (e.g., $3,214,180 expenses vs. $3,174,360 revenue in 202312)
Unusually low (0%) reported officer compensation for an organization of this size, which may warrant further scrutiny into how leadership is compensated or structured.
Strengths
Consistent asset growth over the past decade, from $9,143,028 in 2014 to $28,897,630 currently.
No reported officer compensation across all 13 filings, indicating a potential commitment to minimizing executive overhead.
Generally strong revenue generation, with several years exceeding $3.5 million.
Positive net assets maintained despite fluctuations in annual revenue and expenses.
Spending Breakdown
How Promesa Foundation Inc allocates its funds across programs, administration, and fundraising.
85%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
5%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Promesa Foundation Inc
Is Promesa Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Promesa Foundation Inc (EIN: 133411787) appears trustworthy. Mission Score: 85/100. 3 red flags identified, 4 strengths noted.
Is Promesa Foundation Inc a good charity to donate to?
Promesa Foundation Inc has a Mission Score of 85/100. Revenue: $3.1M. Assets: $28.9M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Promesa Foundation Inc?
The Employer Identification Number (EIN) for Promesa Foundation Inc is 133411787. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Promesa Foundation Inc spend its money?
Promesa Foundation Inc allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Promesa Foundation Inc's tax-exempt status?
You can verify Promesa Foundation Inc's tax-exempt status using EIN 133411787 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
Promesa Foundation Inc demonstrates a generally stable financial position with consistent asset growth over the past decade, reaching $28,897,630 in the latest period. While revenue has fluctuated, ranging from a low of $1,477,250 in 2014 to a high of $4,285,572 in 2019, the organization has maintained positive net assets. In the most recent filing (202312), expenses slightly exceeded revenue ($3,214,180 vs. $3,174,360), indicating a minor operating deficit for that specific year. However, this appears to be an anomaly compared to previous years where revenue generally outpaced expenses, such as in 202212 where revenue was $3,501,347 against expenses of $2,745,519. The organization's consistent reporting of 0% officer compensation across all available filings suggests a commitment to minimizing administrative overhead in this area, contributing positively to its spending efficiency and transparency. The significant liabilities, consistently over $18 million in recent years, warrant closer examination to understand their nature and impact on long-term financial health.