SE RALEIGH PROMISE INC Charity Report

Public IRS 990 nonprofit record

SE RALEIGH PROMISE INC

EIN 82-0614057 · Human Service Organizations (P20)

What they do

SOUTHEAST RALEIGH PROMISE is A LOCAL NONPROFIT WHOSE MISSION is to SERVE ALONGSIDE NEIGHBORS, STRATEGIC PARTNERS, and FUNDERS to ENSURE THAT SOUTHEAST RALEIGH RESIDENTS HAVE ACCESS to EQUITABLE OPPORTUNITIES to GROW, THRIVE, and PROSPER. to ADVANCE THIS MISSION, SOUTHEAST RALEIGH PROMISE SERVES AS A COMMUNITY QUARTERBACK LEADING RALEIGH/WAKE COUNTYS FIRST PURPOSE BUILT COMMUNITIES MODEL, A NATIONAL PLACE-BASED INITIATIVE FOCUSED ON 4 KEY PILLARS: ECONOMIC VITALITY, MIXED-INCOME HOUSING, CRADLE to CAREER EDUCATION, and HEALTH and COMMUNITY WELLNESS.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $54.20 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders13 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

40.46%of revenue went to mission work54.2% of expenses · Program services

12.68%of revenue went to fundraising17.0% of expenses

$74.62spent for every $100 of revenueRevenue covered expenses this year.

21.48%of revenue went to management and office costs28.8% of expenses

$2.60in assets for every $1 spent this yearSome assets cannot be spent right away.

98.6%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $178,857 for YVETTE HOLMES (CEO). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$1,479,848

Mission workProgram services$598,69340.46% of revenue54.2% of expenses

ManagementOffice and general costs$317,94421.48% of revenue28.8% of expenses

FundraisingAsking for donations$187,68012.68% of revenue17.0% of expenses

Revenue left after expensesReported annual surplus$375,53125.38% of revenueShown in gray on the chart

Total expenses$1,104,31774.62% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 54.2% mission · 28.8% management · 17.0% fundraisingTotal expenses: 74.62% of revenue

2023Expense mix: 59.9% mission · 29.8% management · 10.4% fundraisingTotal expenses: 52.84% of revenue

2022Expense mix: 60.1% mission · 28.7% management · 11.3% fundraisingTotal expenses: 92.30% of revenue

2021Expense mix: 48.5% mission · 39.1% management · 12.4% fundraisingTotal expenses: 83.32% of revenue

2020Expense mix: 60.6% mission · 23.4% management · 16.0% fundraisingTotal expenses: 116.02% of revenue

2019Expense mix: 96.7% mission · 2.1% management · 1.2% fundraisingTotal expenses: 81.74% of revenue

2018Expense mix: 76.4% mission · 0.0% management · 0.0% fundraisingTotal expenses: 125.27% of revenue

Money in and money out

Revenue$1,479,848

Expenses$1,104,317

Annual surplus $375,531 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$598,693 · 54.2% of expenses

Management and office costs$317,944 · 28.8% of expenses

Fundraising$187,680 · 17.0% of expenses

See all reported dollar amounts

Revenue$1,479,848

Expenses$1,104,317

Assets$2,869,142

Income$1,479,848

Contributions$1,459,648

Mission work (program services)$598,693

Fundraising$187,680

Grants given$1,826,000

Average grant$608,667

Management and general$317,944

Executive compensation (total)$127,592

Accounting fees$19,871

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

YVETTE HOLMESCEO · 50 hrs/week $178,857Base $165,137 · Other $13,720

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (13)

YVETTE HOLMESCEO

ASA FLEMINGIMMEDIATE PA

ASTRID TAYLORVICE TREASUR

BARRY MALONESECRETARY

BEN YOUNGCHAIR

CRAWFORD CRENSHAWVICE TREASUR

DR ELENA ASHBURNDIRECTOR

EBONY PITTMANDIRECTOR

EVAN COVINGTON CHAVEZDIRECTOR

MIA BAILEYDIRECTOR

SONDRA COLLINSVICE CHAIR

TAYLOR DEWBERRYDIRECTOR

THOMAS BRADSHAW JRDIRECTOR

About this charity

Recognized since: January 2017
Location: 1425 PROMISE BEACON CIR, RALEIGH, NC 27610-3955
County: Wake
In care of: % YVETTE HOLMES - CEO
Primary officer: YVETTE HOLMES, CEO

How to reach them

WebsiteVisit the charity’s website Emailcontact@serpromise.org Phone(919) 746-0900 Officer phone(919) 417-2223

Filing and classification

Latest tax year: 2024
Tax period began: January 1, 2024
Return type: 990
Tax preparer: MADDISON & CAISON LLP
NTEE classification: Human Service Organizations (P20)
IRS tax category: Human Service Organizations
Grant-giving organization: Yes