La Promise Fund
La Promise Fund shows significant asset growth and consistent revenue, with 0% reported officer compensation.
EIN: 204562686 · Los Angeles, CA · NTEE: B82 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $22.4M |
| Total Expenses | $15.3M |
| Program Spending | 85% |
| Net Assets | $6.0M |
| Transparency Score | 85/100 |
Is La Promise Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
La Promise Fund directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About La Promise Fund
La Promise Fund (EIN: 204562686) is a nonprofit organization based in Los Angeles, CA, classified under NTEE code B82. The organization reported total revenue of $22.4M and total assets of $49.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of La Promise Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
La Promise Fund is a large nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 14.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $13.7M |
| Total Expenses | $15.3M |
| Surplus / Deficit | $-1,556,637 |
| Total Assets | $48.2M |
| Total Liabilities | $42.2M |
| Net Assets | $6.0M |
| Operating Margin | -11.3% |
| Debt-to-Asset Ratio | 87.6% |
| Months of Reserves | 37.8 months |
Financial Health Grade: C
In 2023, La Promise Fund reported a deficit of $1.6M with expenses exceeding revenue, holds 37.8 months of operating reserves (strong position), has a debt-to-asset ratio of 87.6% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), La Promise Fund's revenue has grown at a compound annual growth rate (CAGR) of 14.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -8.8% | +9.7% | -2.4% |
| 2022 | +17.2% | +29.5% | +451.0% |
| 2021 | +7.6% | -3.7% | +15.8% |
| 2020 | +29.0% | +30.7% | +48.3% |
| 2019 | +13.0% | +15.6% | +35.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates La Promise Fund with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, La Promise Fund allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $1.6M, with expenses exceeding revenue.
- Debt-to-asset ratio: 87.6%.
Executive Compensation Analysis
The consistent reporting of 0% officer compensation across all 13 filings is highly unusual for an organization of this size and revenue, suggesting either a fully volunteer-led executive team or that executive compensation is reported under different categories, which could impact transparency.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of La Promise Fund's IRS 990 filings:
- Consistent 0% officer compensation reported, which is unusual for an organization of this size and could obscure actual leadership costs.
- Significant increase in liabilities between 2021 and 2022, requiring detailed review of the nature of these liabilities and associated assets.
Strengths
The following positive indicators were identified for La Promise Fund:
- Strong and consistent revenue growth over the past decade, from $2.9M in 2014 to $13.7M in 2023.
- Substantial asset growth, indicating increased capacity and financial stability, from $826,617 in 2014 to $48,218,284 in 2023.
- Generally positive net income (revenue exceeding expenses) in most years, contributing to asset accumulation.
- Apparent strong program focus, as suggested by the NTEE code and typical nonprofit spending patterns for education-related organizations.
Frequently Asked Questions about La Promise Fund
Is La Promise Fund a legitimate charity?
La Promise Fund (EIN: 204562686) is a registered tax-exempt nonprofit based in California. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $22.4M. 2 red flags identified. 4 strengths noted. Financial health grade: C.
How does La Promise Fund spend its money?
La Promise Fund directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to La Promise Fund tax-deductible?
La Promise Fund is registered as a tax-exempt nonprofit (EIN: 204562686). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of La Promise Fund's spending goes to programs?
La Promise Fund directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does La Promise Fund compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), La Promise Fund is above average for NTEE category B82 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is La Promise Fund located?
La Promise Fund is headquartered in Los Angeles, California and files with the IRS under EIN 204562686. It is classified under NTEE code B82.
How many years of IRS 990 filings does La Promise Fund have?
La Promise Fund has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $22.4M in total revenue.
How does La Promise Fund manage to report 0% officer compensation given its scale?
The consistent reporting of 0% officer compensation across all 13 filings is highly unusual for an organization with revenues exceeding $10 million annually. This could indicate a fully volunteer-led executive team, or that executive compensation is categorized differently within the 990, such as under 'other salaries and wages' or through a related organization, which would require further scrutiny of the full 990 forms for clarity.
What caused the significant increase in assets and liabilities between 2021 and 2022?
Between the 2021 and 2022 fiscal periods, La Promise Fund's assets surged from $8,970,074 to $49,429,202, while liabilities increased from $2,542,461 to $41,884,537. This dramatic change suggests a major capital acquisition, such as real estate or a significant investment, likely financed through debt or a large grant with specific restrictions, which would be detailed in the full financial statements.
Is the organization's financial growth sustainable given the increase in liabilities?
While liabilities have increased significantly, they are largely offset by a corresponding increase in assets, maintaining a healthy equity position (Assets - Liabilities). For example, in 2023, assets were $48,218,284 and liabilities were $42,230,256, leaving over $5 million in net assets. This indicates that the growth is likely tied to strategic investments or capital projects rather than unsustainable debt, suggesting a managed and potentially sustainable expansion.
Filing History
IRS 990 filing history for La Promise Fund showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), La Promise Fund's revenue has grown by 413.1%, moving from $2.7M to $13.7M. Total assets increased by 2914.4% over the same period, from $1.6M to $48.2M. Total functional expenses rose by 444.2%, from $2.8M to $15.3M. In its most recent filing year (2023), La Promise Fund reported a deficit of $1.6M, with expenses exceeding revenue. The organization holds $42.2M in liabilities against $48.2M in assets (debt-to-asset ratio: 87.6%), resulting in net assets of $6.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $13.7M | $15.3M | $48.2M | $42.2M | — | View 990 |
| 2022 | $15.1M | $14.0M | $49.4M | $41.9M | — | View 990 |
| 2021 | $12.9M | $10.8M | $9.0M | $2.5M | — | View 990 |
| 2020 | $12.0M | $11.2M | $7.7M | $3.4M | — | View 990 |
| 2019 | $9.3M | $8.6M | $5.2M | $1.6M | — | View 990 |
| 2018 | $8.2M | $7.4M | $3.8M | $973K | — | View 990 |
| 2017 | $5.1M | $5.8M | $2.9M | $865K | — | View 990 |
| 2016 | $3.7M | $3.0M | $3.2M | $475K | — | View 990 |
| 2015 | $4.0M | $3.1M | $1.8M | $304K | — | View 990 |
| 2014 | $2.9M | $2.7M | $827K | $219K | — | View 990 |
| 2013 | $3.1M | $3.4M | $575K | $185K | — | View 990 |
| 2012 | $3.0M | $3.6M | $978K | $228K | — | View 990 |
| 2011 | $2.7M | $2.8M | $1.6M | $249K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $13.7M, expenses of $15.3M, and assets of $48.2M (revenue -8.8% year-over-year).
- 2022: Revenue of $15.1M, expenses of $14.0M, and assets of $49.4M (revenue +17.2% year-over-year).
- 2021: Revenue of $12.9M, expenses of $10.8M, and assets of $9.0M (revenue +7.6% year-over-year).
- 2020: Revenue of $12.0M, expenses of $11.2M, and assets of $7.7M (revenue +29.0% year-over-year).
- 2019: Revenue of $9.3M, expenses of $8.6M, and assets of $5.2M (revenue +13.0% year-over-year).
- 2018: Revenue of $8.2M, expenses of $7.4M, and assets of $3.8M (revenue +59.8% year-over-year).
- 2017: Revenue of $5.1M, expenses of $5.8M, and assets of $2.9M (revenue +39.8% year-over-year).
- 2016: Revenue of $3.7M, expenses of $3.0M, and assets of $3.2M (revenue -7.3% year-over-year).
- 2015: Revenue of $4.0M, expenses of $3.1M, and assets of $1.8M (revenue +36.4% year-over-year).
- 2014: Revenue of $2.9M, expenses of $2.7M, and assets of $827K (revenue -5.4% year-over-year).
- 2013: Revenue of $3.1M, expenses of $3.4M, and assets of $575K (revenue +3.6% year-over-year).
- 2012: Revenue of $3.0M, expenses of $3.6M, and assets of $978K (revenue +10.6% year-over-year).
- 2011: Revenue of $2.7M, expenses of $2.8M, and assets of $1.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for La Promise Fund:
Data Sources and Methodology
This transparency report for La Promise Fund is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.