Promesa Foundation Inc
Promesa Foundation Inc shows consistent asset growth and no reported officer compensation, despite occasional operating deficits.
EIN: 133411787 · Bronx, NY · NTEE: F22I · Updated: 2026-03-28
Is Promesa Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Promesa Foundation Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Promesa Foundation Inc
Promesa Foundation Inc (EIN: 133411787) is a nonprofit organization based in Bronx, NY, classified under NTEE code F22I. The organization reported total revenue of $3.1M and total assets of $28.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Promesa Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Promesa Foundation Inc 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, Promesa Foundation Inc 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.
Executive Compensation Analysis
Promesa Foundation Inc consistently reports 0% officer compensation across all 13 available filings, indicating that no compensation is paid to officers, directors, trustees, or key employees, which is highly unusual for an organization of its size with assets nearing $29 million.
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 Promesa Foundation Inc's IRS 990 filings:
- 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
The following positive indicators were identified for Promesa Foundation Inc:
- 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.
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) some concerns. Mission Score: 85/100. 3 red flags identified, 4 strengths noted.
How does Promesa Foundation Inc spend its money?
Promesa Foundation Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Promesa Foundation Inc tax-deductible?
Promesa Foundation Inc is registered as a tax-exempt nonprofit (EIN: 133411787). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Promesa Foundation Inc a good charity?
Based on the available data, Promesa Foundation Inc exhibits strong financial stability through consistent asset growth and a notable commitment to minimizing executive compensation (0% reported). While there are occasional operating deficits, the overall trend suggests responsible financial management. The high program spending ratio (estimated 85%) further supports its effectiveness in delivering on its mission.
What is the nature of Promesa Foundation Inc's significant liabilities?
The filings consistently show liabilities exceeding $18 million in recent years, reaching $22,137,140 in 202312. Without further detail from the full 990, it's unclear if these are program-related, debt, or other obligations. Understanding the composition of these liabilities is crucial for a complete financial assessment.
How does Promesa Foundation Inc sustain operations with 0% officer compensation?
The consistent reporting of 0% officer compensation across all filings is highly unusual for an organization with annual expenses exceeding $2 million. This suggests that key leadership roles may be filled by volunteers, compensated through a related entity, or that the compensation is reported in a different section of the 990 not captured in this summary. Further investigation into the full 990 would be needed to clarify this.
Filing History
IRS 990 filing history for Promesa Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Promesa Foundation Inc's revenue has grown by 224.3%, moving from $979K to $3.2M. Total assets increased by 284.8% over the same period, from $7.3M to $28.1M. Total functional expenses rose by 267.6%, from $874K to $3.2M. In its most recent filing year (2023), Promesa Foundation Inc reported a deficit of $40K, with expenses exceeding revenue. The organization holds $22.1M in liabilities against $28.1M in assets (debt-to-asset ratio: 78.7%), resulting in net assets of $6.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $3.2M | $3.2M | $28.1M | $22.1M | — | — |
| 2022 | $3.5M | $2.7M | $28.3M | $22.3M | — | View 990 |
| 2021 | $3.5M | $2.7M | $24.7M | $19.4M | — | View 990 |
| 2020 | $1.6M | $2.5M | $25.0M | $20.6M | — | View 990 |
| 2019 | $4.3M | $2.6M | $25.9M | $20.6M | — | View 990 |
| 2018 | $3.7M | $2.6M | $24.3M | $20.7M | — | View 990 |
| 2017 | $2.3M | $3.0M | $23.6M | $21.0M | — | View 990 |
| 2016 | $2.7M | $2.4M | $22.3M | $19.1M | — | View 990 |
| 2015 | $2.3M | $1.8M | $21.8M | $18.9M | — | View 990 |
| 2014 | $1.5M | $1.4M | $9.1M | $6.6M | — | View 990 |
| 2013 | $1.3M | $1.2M | $9.4M | $7.0M | — | View 990 |
| 2012 | $1.0M | $1.1M | $8.7M | $6.4M | — | View 990 |
| 2011 | $979K | $874K | $7.3M | $5.0M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.2M, expenses of $3.2M, and assets of $28.1M (revenue -9.3% year-over-year).
- 2022: Revenue of $3.5M, expenses of $2.7M, and assets of $28.3M (revenue -1.0% year-over-year).
- 2021: Revenue of $3.5M, expenses of $2.7M, and assets of $24.7M (revenue +116.3% year-over-year).
- 2020: Revenue of $1.6M, expenses of $2.5M, and assets of $25.0M (revenue -61.8% year-over-year).
- 2019: Revenue of $4.3M, expenses of $2.6M, and assets of $25.9M (revenue +16.9% year-over-year).
- 2018: Revenue of $3.7M, expenses of $2.6M, and assets of $24.3M (revenue +56.9% year-over-year).
- 2017: Revenue of $2.3M, expenses of $3.0M, and assets of $23.6M (revenue -13.3% year-over-year).
- 2016: Revenue of $2.7M, expenses of $2.4M, and assets of $22.3M (revenue +18.1% year-over-year).
- 2015: Revenue of $2.3M, expenses of $1.8M, and assets of $21.8M (revenue +54.4% year-over-year).
- 2014: Revenue of $1.5M, expenses of $1.4M, and assets of $9.1M (revenue +13.0% year-over-year).
- 2013: Revenue of $1.3M, expenses of $1.2M, and assets of $9.4M (revenue +26.7% year-over-year).
- 2012: Revenue of $1.0M, expenses of $1.1M, and assets of $8.7M (revenue +5.4% year-over-year).
- 2011: Revenue of $979K, expenses of $874K, and assets of $7.3M.
Data Sources and Methodology
This transparency report for Promesa Foundation Inc 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.