Promys Foundation
EIN: 452917981 · Boston, MA · NTEE: B80
| Metric | Value |
|---|---|
| Total Revenue | $541K |
| Total Expenses | $494K |
| Net Assets | $1.9M |
Is Promys Foundation Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Promys Foundation
Promys Foundation (EIN: 452917981) is a nonprofit organization based in Boston, MA, classified under NTEE code B80. The organization reported total revenue of $541K and total assets of $1.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Promys Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Promys Foundation is a small nonprofit that has been operating for 15 years, with 11 years of IRS 990 filings on record (2013–2023). Revenue has grown at a compound annual rate of 19.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $978K |
| Total Expenses | $494K |
| Surplus / Deficit | +$484K |
| Total Assets | $1.9M |
| Net Assets | $1.9M |
| Operating Margin | 49.5% |
| Months of Reserves | 47.3 months |
Financial Health Grade: A
In 2023, Promys Foundation reported a surplus of $484K with revenue exceeding expenses, holds 47.3 months of operating reserves (strong position).
Financial Trends
Over 11 years of filings (2013–2023), Promys Foundation's revenue has grown at a compound annual growth rate (CAGR) of 19.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +12.8% | +21.9% | +34.4% |
| 2022 | +97.6% | +155.1% | +41.4% |
| 2021 | +8.7% | -43.8% | +35.6% |
| 2020 | -7.3% | -19.1% | +25.2% |
| 2019 | +2.7% | -8.5% | +23.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2011 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Promys Foundation 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 Promys Foundation 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 $484K, with revenue exceeding expenses.
Frequently Asked Questions about Promys Foundation
Is Promys Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Promys Foundation (EIN: 452917981) insufficient data. 0 red flags identified, 0 strengths noted.
How does Promys Foundation spend its money?
Detailed spending breakdown data is not yet available for Promys Foundation. Check back for updated IRS 990 analysis.
Are donations to Promys Foundation tax-deductible?
Promys Foundation is registered as a tax-exempt nonprofit (EIN: 452917981). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Promys Foundation located?
Promys Foundation is headquartered in Boston, Massachusetts and files with the IRS under EIN 452917981. It is classified under NTEE code B80.
How many years of IRS 990 filings does Promys Foundation have?
Promys Foundation has 11 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 $541K in total revenue.
Filing History
IRS 990 filing history for Promys Foundation showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2013–2023), Promys Foundation's revenue has grown by 501.7%, moving from $163K to $978K. Total assets increased by 1018.5% over the same period, from $174K to $1.9M. Total functional expenses rose by 3646%, from $13K to $494K. In its most recent filing year (2023), Promys Foundation reported a surplus of $484K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $978K | $494K | $1.9M | $0 | — | — |
| 2022 | $867K | $405K | $1.4M | $6K | — | View 990 |
| 2021 | $439K | $159K | $1.0M | $7K | — | View 990 |
| 2020 | $404K | $282K | $755K | $11K | — | View 990 |
| 2019 | $435K | $349K | $604K | $0 | — | View 990 |
| 2018 | $424K | $381K | $487K | $0 | — | View 990 |
| 2017 | $320K | $250K | $456K | $0 | — | View 990 |
| 2016 | $131K | $203K | $368K | $0 | — | View 990 |
| 2015 | $200K | $146K | $432K | $0 | — | View 990 |
| 2014 | $243K | $36K | $381K | $0 | — | View 990 |
| 2013 | $163K | $13K | $174K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $978K, expenses of $494K, and assets of $1.9M (revenue +12.8% year-over-year).
- 2022: Revenue of $867K, expenses of $405K, and assets of $1.4M (revenue +97.6% year-over-year).
- 2021: Revenue of $439K, expenses of $159K, and assets of $1.0M (revenue +8.7% year-over-year).
- 2020: Revenue of $404K, expenses of $282K, and assets of $755K (revenue -7.3% year-over-year).
- 2019: Revenue of $435K, expenses of $349K, and assets of $604K (revenue +2.7% year-over-year).
- 2018: Revenue of $424K, expenses of $381K, and assets of $487K (revenue +32.6% year-over-year).
- 2017: Revenue of $320K, expenses of $250K, and assets of $456K (revenue +144.3% year-over-year).
- 2016: Revenue of $131K, expenses of $203K, and assets of $368K (revenue -34.5% year-over-year).
- 2015: Revenue of $200K, expenses of $146K, and assets of $432K (revenue -17.9% year-over-year).
- 2014: Revenue of $243K, expenses of $36K, and assets of $381K (revenue +49.7% year-over-year).
- 2013: Revenue of $163K, expenses of $13K, and assets of $174K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Promys Foundation:
Data Sources and Methodology
This transparency report for Promys 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.