Promise Academy Spring Hill
EIN: 464445628 · Memphis, TN · NTEE: B24
| Metric | Value |
|---|---|
| Total Revenue | $6.7M |
| Total Expenses | $5.8M |
| Net Assets | $1.6M |
Is Promise Academy Spring Hill Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Promise Academy Spring Hill
Promise Academy Spring Hill (EIN: 464445628) is a nonprofit organization based in Memphis, TN, classified under NTEE code B24. The organization reported total revenue of $6.7M and total assets of $3.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Promise Academy Spring Hill's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Promise Academy Spring Hill is a mid-size nonprofit that has been operating for 11 years, with 8 years of IRS 990 filings on record (2015–2022). Revenue has grown at a compound annual rate of 20.0%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $6.1M |
| Total Expenses | $5.8M |
| Surplus / Deficit | +$259K |
| Total Assets | $2.9M |
| Total Liabilities | $1.3M |
| Net Assets | $1.6M |
| Operating Margin | 4.3% |
| Debt-to-Asset Ratio | 44.7% |
| Months of Reserves | 6.1 months |
Financial Health Grade: A
In 2022, Promise Academy Spring Hill reported a surplus of $259K with revenue exceeding expenses, holds 6.1 months of operating reserves (strong position), has a debt-to-asset ratio of 44.7% (moderate leverage).
Financial Trends
Over 8 years of filings (2015–2022), Promise Academy Spring Hill's revenue has grown at a compound annual growth rate (CAGR) of 20.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | +21.2% | +31.4% | +54.8% |
| 2021 | +6.9% | +0.1% | +5.2% |
| 2020 | +0.1% | -4.0% | +110.9% |
| 2019 | +24.5% | +27.3% | +2.5% |
| 2018 | +32.5% | +27.0% | +36.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2015 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Promise Academy Spring Hill has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Promise Academy Spring Hill with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $259K, with revenue exceeding expenses.
- Debt-to-asset ratio: 44.7%.
Frequently Asked Questions about Promise Academy Spring Hill
Is Promise Academy Spring Hill a legitimate charity?
Promise Academy Spring Hill (EIN: 464445628) is a registered tax-exempt nonprofit based in Tennessee. It has 8 years of IRS 990 filings on record. Total revenue: $6.7M. No red flags identified. Financial health grade: A.
How does Promise Academy Spring Hill spend its money?
Promise Academy Spring Hill reported $6.7M in total revenue in IRS 990 filings. 8 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Promise Academy Spring Hill tax-deductible?
Promise Academy Spring Hill is registered as a tax-exempt nonprofit (EIN: 464445628). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Promise Academy Spring Hill located?
Promise Academy Spring Hill is headquartered in Memphis, Tennessee and files with the IRS under EIN 464445628. It is classified under NTEE code B24.
How many years of IRS 990 filings does Promise Academy Spring Hill have?
Promise Academy Spring Hill has 8 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 $6.7M in total revenue.
Filing History
IRS 990 filing history for Promise Academy Spring Hill showing financial trends over 8 years of public records:
Over 8 years of IRS 990 filings (2015–2022), Promise Academy Spring Hill's revenue has grown by 257.4%, moving from $1.7M to $6.1M. Total assets increased by 906.4% over the same period, from $292K to $2.9M. Total functional expenses rose by 281.5%, from $1.5M to $5.8M. In its most recent filing year (2022), Promise Academy Spring Hill reported a surplus of $259K, with revenue exceeding expenses. The organization holds $1.3M in liabilities against $2.9M in assets (debt-to-asset ratio: 44.7%), resulting in net assets of $1.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $6.1M | $5.8M | $2.9M | $1.3M | — | View 990 |
| 2021 | $5.0M | $4.4M | $1.9M | $531K | — | — |
| 2020 | $4.7M | $4.4M | $1.8M | $1.0M | — | View 990 |
| 2019 | $4.7M | $4.6M | $857K | $338K | — | View 990 |
| 2018 | $3.8M | $3.6M | $836K | $391K | — | View 990 |
| 2017 | $2.8M | $2.8M | $613K | $306K | — | View 990 |
| 2016 | $2.1M | $2.0M | $710K | $393K | — | View 990 |
| 2015 | $1.7M | $1.5M | $292K | $118K | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $6.1M, expenses of $5.8M, and assets of $2.9M (revenue +21.2% year-over-year).
- 2021: Revenue of $5.0M, expenses of $4.4M, and assets of $1.9M (revenue +6.9% year-over-year).
- 2020: Revenue of $4.7M, expenses of $4.4M, and assets of $1.8M (revenue +0.1% year-over-year).
- 2019: Revenue of $4.7M, expenses of $4.6M, and assets of $857K (revenue +24.5% year-over-year).
- 2018: Revenue of $3.8M, expenses of $3.6M, and assets of $836K (revenue +32.5% year-over-year).
- 2017: Revenue of $2.8M, expenses of $2.8M, and assets of $613K (revenue +35.1% year-over-year).
- 2016: Revenue of $2.1M, expenses of $2.0M, and assets of $710K (revenue +23.7% year-over-year).
- 2015: Revenue of $1.7M, expenses of $1.5M, and assets of $292K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Promise Academy Spring Hill:
Data Sources and Methodology
This transparency report for Promise Academy Spring Hill 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.