Promise Land Heritage Association
Fiscal Year
Fiscal Year Start
01/01/2024
Fiscal Year End
12/31/2024
Projected Revenue
$217,640.00
Projected Expenses
$203,331.00
Organizational Budgets and Other Documents
IRS Letter of Exemption
| IRS Letter of Determination |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Revenue | $118,357.00 | $37,657.00 | $0.00 |
| Total Expenses | $34,475.00 | $23,784.00 | $0.00 |
| Revenue Less Expenses | $83,882.00 | $13,873.00 | ($-0.00) |
Revenue Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Foundation and Corporation Contributions | $0.00 | $0.00 | $0.00 |
| Government - Federal | $0.00 | $0.00 | $0.00 |
| Government - State | $0.00 | $0.00 | $0.00 |
| Government - Local | $0.00 | $0.00 | $0.00 |
| Government - Unspecified | $0.00 | $0.00 | $0.00 |
| Contributions, Gifts, and Grants | $118,357.00 | $0.00 | $0.00 |
| Indirect Public Support | $0.00 | $0.00 | $0.00 |
| Earned Revenue | $0.00 | $18,360.00 | $0.00 |
| Investment Income, Net of Losses | $0.00 | $0.00 | $0.00 |
| Membership Dues | $0.00 | $0.00 | $0.00 |
| Special Events | $0.00 | $19,297.00 | $0.00 |
| Revenue In-Kind | $0.00 | $0.00 | $0.00 |
| Other | $0.00 | $0.00 | $0.00 |
Expense Allocation
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Program Expense | $34,475.00 | $23,784.00 | $0.00 |
| Administration Expense | $0.00 | $0.00 | $0.00 |
| Fundraising Expense | $0.00 | $0.00 | $0.00 |
| Total Revenue/Total Expenses | 343% | 158% | |
| Program Expense/Total Expenses | 100% | 100% | |
| Fundraising Expense/Contributed Revenue | 0% | 0% |
Top Funding Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | Contributions, Gifts, and Grants $118,357.00 | Fundraising Events $19,297.00 | $0.00 |
| Second Highest Funding Source & Dollar Amount | $0.00 | Program Revenue $18,360.00 | $0.00 |
| Third Highest Funding Source & Dollar Amount | $0.00 | $0.00 | $0.00 |
Assets and Liabilities
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $120,955.00 | $37,073.00 | $0.00 |
| Current Assets | $13,493.00 | $13,873.00 | $0.00 |
| Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
| Current Liabilities | $0.00 | $0.00 | $0.00 |
| Total Net Assets | $12,955.00 | $37,073.00 | $0.00 |
Endowment Info
Do you have an endowment?
No
Capital Campaign Info
Are you currently in a Capital Campaign?
Yes
Do you anticipate a campaign in the next 5 years?
Yes
What is the campaign goal?
$350,000.00
What is the purpose of the capital campaign?
The Promise Land Heritage Association's Capital & Capacity Building Campaign began in the Fall of 2021 and is scheduled to continue for 18 months. The campaign funds are needed for: (1) the preservation and maintenance of the school museum's collections/artifacts/photographs; (2) continued preservation, maintenance, and upgrades of the buildings at the Promise Land Historic Site; (3) the employment of an executive director to manage, plan, strategize, promote, and develop partnerships for the organization.
Campaign Start
November 2021
Campaign End
May 2023
Campaign Raised to Date Month
March
Campaign Raised to Date Year
2022
Campaign Raised to Date Amount
$20,000.00
Solicitation Permit Info
State Charitable Solicitations Permit
Yes
Permit Expiration Month
June
Permit Expiration Year
2025
Solicitations Permit
Form 990s
Audit Documents
No audit documents are available at this time
CEO/Executive Director/Board Comments
| Please see the Executive Director's and Board Chairman's statements. |
Foundation Staff Comments
| Starting in 2022, financial details compiled from Form 990EZ. Foundation and corporate grants may be included in Contributions, Gifts, and Grants sum, as these amounts are not separated in Form 990EZ. Form 990EZ prepared internally by nonprofit. Prior to 2022, this organization filed a 990-N form with the IRS, which does not provide specific financial information. Most small tax-exempt organizations whose annual gross receipts are normally $50,000 or less ($25,000 for tax years ending after December 31, 2007 and before December 31, 2010) are required to electronically submit Form 990-N, also known as the e-Postcard, unless they choose to file a complete Form 990 or Form 990-EZ instead. Comments provided by Nicole Rose 08/01/2024. |
