Promises Of Life Ministries Inc
Promises Of Life Ministries Inc operates with minimal assets and no reported officer compensation, showing modest revenue growth.
EIN: 134271149 · Mobile, AL · NTEE: X21 · Updated: 2026-03-28
Is Promises Of Life Ministries Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Promises Of Life Ministries Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Promises Of Life Ministries Inc
Promises Of Life Ministries Inc (EIN: 134271149) is a nonprofit organization based in Mobile, AL, classified under NTEE code X21. The organization reported total revenue of $27K and total assets of $7K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Promises Of Life Ministries Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Promises Of Life Ministries Inc is a micro nonprofit that has been operating for 7 years, with 3 years of IRS 990 filings on record (2020–2022). Revenue has grown at a compound annual rate of 10.5%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $11K |
| Total Expenses | $12K |
| Surplus / Deficit | $-1,664 |
| Total Assets | $2K |
| Net Assets | $2K |
| Operating Margin | -15.4% |
| Months of Reserves | 1.5 months |
Financial Health Grade: C
In 2022, Promises Of Life Ministries Inc reported a deficit of $2K with expenses exceeding revenue, holds 1.5 months of operating reserves (limited).
Financial Trends
Over 3 years of filings (2020–2022), Promises Of Life Ministries Inc's revenue has grown at a compound annual growth rate (CAGR) of 10.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -10.0% | +20.5% | -52.2% |
| 2021 | +35.7% | +20.4% | +106.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 7000 |
| IRS Ruling Date | 2019 |
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 Promises Of Life Ministries Inc with a Mission Score of 70 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Promises Of Life Ministries 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.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $2K, with expenses exceeding revenue.
Executive Compensation Analysis
The organization reports 0% officer compensation across all available filings, indicating that executive leadership is either unpaid or compensated through non-reportable means, which is common for very small, volunteer-led nonprofits.
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 Promises Of Life Ministries Inc's IRS 990 filings:
- Limited financial detail available due to small size, making in-depth analysis challenging.
Strengths
The following positive indicators were identified for Promises Of Life Ministries Inc:
- Consistently reports $0 liabilities, indicating no debt burden.
- 0% officer compensation reported, suggesting a volunteer-driven leadership.
- Modest revenue growth in the latest period to $27,325.
Frequently Asked Questions about Promises Of Life Ministries Inc
Is Promises Of Life Ministries Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Promises Of Life Ministries Inc (EIN: 134271149) some concerns. Mission Score: 70/100. 1 red flag identified, 3 strengths noted.
How does Promises Of Life Ministries Inc spend its money?
Promises Of Life Ministries Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Promises Of Life Ministries Inc tax-deductible?
Promises Of Life Ministries Inc is registered as a tax-exempt nonprofit (EIN: 134271149). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Promises Of Life Ministries Inc a good charity?
Based on the available IRS 990 data, Promises Of Life Ministries Inc operates with no reported officer compensation and minimal liabilities, suggesting a lean operation. However, due to its small size and limited financial detail, a comprehensive assessment of 'goodness' is difficult without more information on program impact and specific spending categories.
What is the primary source of their revenue?
The provided data only shows total revenue figures ($27,325 latest, $10,781 in 2022, $11,973 in 2021, $8,825 in 2020). The specific sources (e.g., donations, grants, program service revenue) are not detailed in the summary data provided.
How has their financial stability changed over time?
The organization's assets have fluctuated, from $1,541 in 2020 to $3,187 in 2021, then down to $1,523 in 2022, and most recently reported at $6,782. This indicates some variability in their financial position, though liabilities consistently remain at $0, suggesting no debt burden.
Filing History
IRS 990 filing history for Promises Of Life Ministries Inc showing financial trends over 3 years of public records:
Over 3 years of IRS 990 filings (2020–2022), Promises Of Life Ministries Inc's revenue has grown by 22.2%, moving from $9K to $11K. Total assets decreased by 1.2% over the same period, from $2K to $2K. Total functional expenses rose by 45%, from $9K to $12K. In its most recent filing year (2022), Promises Of Life Ministries Inc reported a deficit of $2K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $11K | $12K | $2K | $0 | — | View 990 |
| 2021 | $12K | $10K | $3K | $0 | — | View 990 |
| 2020 | $9K | $9K | $2K | $0 | — | — |
Year-by-Year Financial Summary
- 2022: Revenue of $11K, expenses of $12K, and assets of $2K (revenue -10.0% year-over-year).
- 2021: Revenue of $12K, expenses of $10K, and assets of $3K (revenue +35.7% year-over-year).
- 2020: Revenue of $9K, expenses of $9K, and assets of $2K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Promises Of Life Ministries Inc:
Data Sources and Methodology
This transparency report for Promises Of Life Ministries 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.