Promised Learning Center Ltd
EIN: 562161697 · Bethel, NC · NTEE: P330
Is Promised Learning Center Ltd Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Promised Learning Center Ltd
Promised Learning Center Ltd (EIN: 562161697) is a nonprofit organization based in Bethel, NC, classified under NTEE code P330. The organization reported total revenue of $417K and total assets of $71K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Promised Learning Center Ltd's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Promised Learning Center Ltd is a small nonprofit that has been operating for 26 years, with 11 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $365K |
| Total Expenses | $353K |
| Surplus / Deficit | +$12K |
| Total Assets | $57K |
| Total Liabilities | $6K |
| Net Assets | $51K |
| Operating Margin | 3.2% |
| Debt-to-Asset Ratio | 11.1% |
| Months of Reserves | 1.9 months |
Financial Health Grade: A
In 2023, Promised Learning Center Ltd reported a surplus of $12K with revenue exceeding expenses, holds 1.9 months of operating reserves (limited), has a debt-to-asset ratio of 11.1% (very low leverage).
Financial Trends
Over 11 years of filings (2011–2023), Promised Learning Center Ltd's revenue has grown at a compound annual growth rate (CAGR) of 6.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +18.9% | +37.0% | +27.3% |
| 2021 | +29.2% | +2.0% | +259.5% |
| 2020 | +21.6% | +31.5% | +29471.4% |
| 2019 | -2.4% | +3.7% | -99.4% |
| 2017 | +11.6% | +14.7% | +722100.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2000 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Promised Learning Center Ltd 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 Promised Learning Center Ltd 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $12K, with revenue exceeding expenses.
- Debt-to-asset ratio: 11.1%.
Frequently Asked Questions about Promised Learning Center Ltd
Is Promised Learning Center Ltd a legitimate charity?
Based on AI analysis of IRS 990 filings, Promised Learning Center Ltd (EIN: 562161697) insufficient data. 0 red flags identified, 0 strengths noted.
How does Promised Learning Center Ltd spend its money?
Detailed spending breakdown data is not yet available for Promised Learning Center Ltd. Check back for updated IRS 990 analysis.
Are donations to Promised Learning Center Ltd tax-deductible?
Promised Learning Center Ltd is registered as a tax-exempt nonprofit (EIN: 562161697). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Promised Learning Center Ltd showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2023), Promised Learning Center Ltd's revenue has grown by 115.7%, moving from $169K to $365K. Total assets increased by 469.4% over the same period, from $10K to $57K. Total functional expenses rose by 104.7%, from $172K to $353K. In its most recent filing year (2023), Promised Learning Center Ltd reported a surplus of $12K, with revenue exceeding expenses. The organization holds $6K in liabilities against $57K in assets (debt-to-asset ratio: 11.1%), resulting in net assets of $51K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $365K | $353K | $57K | $6K | — | — |
| 2021 | $307K | $258K | $45K | $17K | — | View 990 |
| 2020 | $237K | $253K | $12K | $0 | — | — |
| 2019 | $195K | $192K | $42 | $23K | — | View 990 |
| 2017 | $200K | $185K | $7K | $36K | — | View 990 |
| 2016 | $179K | $162K | $1 | $0 | — | View 990 |
| 2015 | $141K | $138K | $1 | $59K | — | View 990 |
| 2014 | $136K | $136K | $1 | $44K | — | View 990 |
| 2013 | $117K | $119K | $11K | $56K | — | View 990 |
| 2012 | $157K | $160K | $11K | $52K | — | View 990 |
| 2011 | $169K | $172K | $10K | $49K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $365K, expenses of $353K, and assets of $57K (revenue +18.9% year-over-year).
- 2021: Revenue of $307K, expenses of $258K, and assets of $45K (revenue +29.2% year-over-year).
- 2020: Revenue of $237K, expenses of $253K, and assets of $12K (revenue +21.6% year-over-year).
- 2019: Revenue of $195K, expenses of $192K, and assets of $42 (revenue -2.4% year-over-year).
- 2017: Revenue of $200K, expenses of $185K, and assets of $7K (revenue +11.6% year-over-year).
- 2016: Revenue of $179K, expenses of $162K, and assets of $1 (revenue +27.3% year-over-year).
- 2015: Revenue of $141K, expenses of $138K, and assets of $1 (revenue +3.8% year-over-year).
- 2014: Revenue of $136K, expenses of $136K, and assets of $1 (revenue +15.7% year-over-year).
- 2013: Revenue of $117K, expenses of $119K, and assets of $11K (revenue -25.2% year-over-year).
- 2012: Revenue of $157K, expenses of $160K, and assets of $11K (revenue -7.3% year-over-year).
- 2011: Revenue of $169K, expenses of $172K, and assets of $10K.
Data Sources and Methodology
This transparency report for Promised Learning Center Ltd 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.