Promethean Foundation
Promethean Foundation frequently operates at a deficit with minimal assets and reports no officer compensation.
EIN: 201690784 · Union City, TN · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.5M |
| Total Expenses | $1.8M |
| Program Spending | 75% |
| CEO/Top Officer Pay | $1.75 |
| Net Assets | $10K |
| Transparency Score | 65/100 |
Search Intent Cockpit
Promethean Foundation Form 990, Revenue, CEO Pay, and IRS Filing Signals
Promethean Foundation is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Promethean Foundation in one place.
Form 990 Filing Summary
10 filing years are available, with latest revenue of $1.6M and expenses of $1.8M.
Revenue and Expenses
Promethean Foundation reported $1.6M in revenue and $1.8M in expenses, a deficit of $127K.
Executive Compensation
Top officer compensation appears as $1.75 in the stored analysis, with context against revenue and expenses below.
Charity Score and Red Flags
65/100 mission score, 5 red flags, and 5 strengths are shown from structured and AI review.
Is Promethean Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
IRS 990 Data Cockpit
Where the Money Comes From and Where It Goes
Revenue Source Mix
Revenue-source line items are not available on the stored filing yet. Future ingestion now preserves contribution, program-revenue, and investment-income fields when ProPublica provides them.
Expense Deployment
| Program services | $1.3M (75%) |
Across stored filings, Promethean Foundation shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.
Decision Cockpit
One-Stop Donor, Research, and Peer Context Hub
| Decision Lens | Signal | What to Inspect Next |
|---|---|---|
| Legitimacy | Some Concerns | Good filing record; 5 red flags identified |
| Mission spend | 75% to programs | Excellent |
| Financial durability | Grade C | 10 stored filing years |
| Peer context | Compare with Domino's Franchisee Forum | Tennessee and Philanthropy context |
Trust Check
Review legitimacy, deductibility, red flags, and filing consistency.
Open charity check →Peer Benchmark
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Local and Sector Spokes
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Union City, TN nonprofitsPhilanthropy in Tennessee
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Follow the Money
Jump into spending, compensation, rankings, and filing-year evidence.
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Keep the Investigation Moving
Promethean Foundation directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Promethean Foundation
Promethean Foundation (EIN: 201690784) is a nonprofit organization based in Union City, TN, classified under NTEE code T22. The organization reported total revenue of $2.5M and total assets of $192K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Promethean Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Promethean Foundation is a mid-size nonprofit that has been operating for 21 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -0.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.6M |
| Total Expenses | $1.8M |
| Surplus / Deficit | $-126,587 |
| Total Assets | $10K |
| Total Liabilities | $1 |
| Net Assets | $10K |
| Operating Margin | -7.8% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 0.1 months |
Financial Health Grade: C
In 2023, Promethean Foundation reported a deficit of $127K with expenses exceeding revenue, holds 0.1 months of operating reserves (limited), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Promethean Foundation's revenue has declined at a compound annual growth rate (CAGR) of -0.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -12.8% | +0.8% | -93.0% |
| 2022 | +26.7% | +9.4% | +1132.5% |
| 2021 | -7.8% | -3.0% | -91.4% |
| 2020 | -12.9% | -4.4% | -8.1% |
| 2019 | -0.3% | -1.7% | -8.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 Promethean Foundation with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Promethean Foundation allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% 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 $127K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The Promethean Foundation consistently reports 0% officer compensation across all available filings, suggesting either a volunteer-led executive team or that executive salaries are categorized under other expense lines, which would obscure true leadership costs relative to the organization's annual expenses, which have been as high as $1.75 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 Promethean Foundation's IRS 990 filings:
- Frequent operational deficits (e.g., 2023, 2021, 2014, 2012) where expenses exceed revenue.
- Consistently low asset base relative to annual revenue (e.g., $9,544 assets vs. $1.6M revenue in 2023), indicating limited financial reserves.
- Unusual and consistent reporting of $1 in liabilities across all filings, which may obscure actual financial obligations.
- Lack of detailed expense breakdown in provided data makes it difficult to assess program efficiency.
- 0% officer compensation reported, which could indicate volunteer leadership or compensation hidden in other expense categories, impacting transparency.
Strengths
The following positive indicators were identified for Promethean Foundation:
- Consistent revenue generation, generally above $1.4 million annually over the past decade.
- Long history of IRS 990 filings (10 filings), indicating regulatory compliance and transparency in reporting.
- No significant debt burden indicated by the consistent $1 liability reporting.
- Recent revenue peak of $2,514,062 suggests potential for growth or successful fundraising efforts.
- Consistent operational activity over a long period (since at least 2011).
Frequently Asked Questions about Promethean Foundation
Is Promethean Foundation a legitimate charity?
Promethean Foundation (EIN: 201690784) is a registered tax-exempt nonprofit based in Tennessee. Our AI analysis gives it a Mission Score of 65/100. It has 10 years of IRS 990 filings on record. Total revenue: $2.5M. 5 red flags identified. 5 strengths noted. Financial health grade: C.
How does Promethean Foundation spend its money?
Promethean Foundation directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Promethean Foundation tax-deductible?
Promethean Foundation is registered as a tax-exempt nonprofit (EIN: 201690784). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Promethean Foundation CEO make?
Promethean Foundation's highest-compensated officer earns $1.75 annually. The organization reported $2.5M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Promethean Foundation's spending goes to programs?
Promethean Foundation directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Promethean Foundation compare to similar nonprofits?
With a transparency score of 65/100 (Good), Promethean Foundation is above average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Promethean Foundation located?
Promethean Foundation is headquartered in Union City, Tennessee and files with the IRS under EIN 201690784. It is classified under NTEE code T22.
How many years of IRS 990 filings does Promethean Foundation have?
Promethean Foundation has 10 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 $2.5M in total revenue.
Why does Promethean Foundation consistently report $1 in liabilities?
The consistent reporting of $1 in liabilities across all filings is highly unusual for an organization with millions in revenue and expenses. This could indicate a simplified accounting practice, a specific type of liability that is always nominal, or a reporting anomaly that warrants further investigation into their financial statements.
How does Promethean Foundation sustain operations with frequent deficits?
The organization frequently reports expenses exceeding revenue (e.g., $1,751,944 expenses vs. $1,625,357 revenue in 2023). This suggests they may be drawing from prior year surpluses, receiving unrestricted grants not fully reflected in annual revenue, or utilizing other funding mechanisms not detailed in the provided summary data to cover operational shortfalls.
What is the actual breakdown of program, administrative, and fundraising expenses?
The provided IRS 990 summary data does not offer a detailed breakdown of expenses into program, administrative, and fundraising categories. Without this information, it is difficult to assess the organization's spending efficiency and how much of its budget directly supports its mission.
What is the significance of the NTEE code T22 for Promethean Foundation?
NTEE code T22 signifies 'Philanthropy, Voluntarism, and Grantmaking Foundations.' This suggests the organization's primary activities involve supporting other nonprofits, engaging in philanthropic endeavors, or making grants, rather than direct service provision. Understanding this context is crucial for evaluating its financial activities.
Why are the organization's assets consistently low relative to its revenue?
The Promethean Foundation's assets are consistently low (e.g., $9,544 in 2023) compared to its annual revenue (e.g., $1.6 million in 2023). This indicates limited financial reserves and a potential 'spend-down' model or a focus on immediate distribution of funds rather than building an endowment or significant operational reserves.
Filing History
IRS 990 filing history for Promethean Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Promethean Foundation's revenue has declined by 6.9%, moving from $1.7M to $1.6M. Total assets decreased by 95.1% over the same period, from $194K to $10K. Total functional expenses rose by 1.7%, from $1.7M to $1.8M. In its most recent filing year (2023), Promethean Foundation reported a deficit of $127K, with expenses exceeding revenue. The organization holds $1 in liabilities against $10K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $10K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.6M | $1.8M | $10K | $1 | — | View 990 |
| 2022 | $1.9M | $1.7M | $136K | $1 | — | View 990 |
| 2021 | $1.5M | $1.6M | $11K | $1 | — | View 990 |
| 2020 | $1.6M | $1.6M | $129K | $1 | — | View 990 |
| 2019 | $1.8M | $1.7M | $141K | $1 | — | View 990 |
| 2015 | $1.8M | $1.7M | $153K | $1 | — | View 990 |
| 2014 | $1.6M | $1.7M | $58K | $1 | — | View 990 |
| 2013 | $1.7M | $1.7M | $192K | $1 | — | View 990 |
| 2012 | $1.7M | $1.7M | $149K | $1 | — | View 990 |
| 2011 | $1.7M | $1.7M | $194K | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.6M, expenses of $1.8M, and assets of $10K (revenue -12.8% year-over-year).
- 2022: Revenue of $1.9M, expenses of $1.7M, and assets of $136K (revenue +26.7% year-over-year).
- 2021: Revenue of $1.5M, expenses of $1.6M, and assets of $11K (revenue -7.8% year-over-year).
- 2020: Revenue of $1.6M, expenses of $1.6M, and assets of $129K (revenue -12.9% year-over-year).
- 2019: Revenue of $1.8M, expenses of $1.7M, and assets of $141K (revenue -0.3% year-over-year).
- 2015: Revenue of $1.8M, expenses of $1.7M, and assets of $153K (revenue +15.0% year-over-year).
- 2014: Revenue of $1.6M, expenses of $1.7M, and assets of $58K (revenue -7.3% year-over-year).
- 2013: Revenue of $1.7M, expenses of $1.7M, and assets of $192K (revenue +3.4% year-over-year).
- 2012: Revenue of $1.7M, expenses of $1.7M, and assets of $149K (revenue -4.5% year-over-year).
- 2011: Revenue of $1.7M, expenses of $1.7M, and assets of $194K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Promethean Foundation:
Data Sources and Methodology
This transparency report for Promethean Foundation 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.