WATERBURY PROMISE INC Charity Report

Public IRS 990 nonprofit record

WATERBURY PROMISE INC

EIN 87-4763561

What they do

WATERBURY PROMISE, INC. is A CONNECTICUT CHARITABLE ORGANIZATION DEDICATED to INCREASING COLLEGE ASPIRATIONS, REDUCING FINANCIAL BARRIERS and INSPIRING EVERY WATERBURY STUDENT TOWARD POST-SECONDARY EDUCATION and COMPLETION. THE PROGRAMS COMPREHENSIVE COLLEGE ACCESS, SUCCESS and CAREER READINESS MODEL is CENTERED ON A GENEROUS LAST-DOLLAR SCHOLARSHIP DESIGNED to BRIDGE THE FINANCIAL GAP AFTER ALL INDIVIDUAL GRANTS, FINANCIAL AID, and OTHER SCHOLARSHIPS HAVE BEEN APPLIED. EQUALLY IMPORTANT, ARE THE WRAP-AROUND SUPPORT SERVICES and RESOURCES PROVIDED to ENSURE STUDENTS PERSIST to GRADUATION, ARE CAREER READY, and EARN A LIFE-CHANGING DEGREE. THIS HOLISTIC MODEL FOCUSES ON BREAKING DOWN ALL BARRIERS (FINANCIAL, ACADEMIC, SOCIAL-EMOTIONAL, ETC.) to POST-SECONDARY EDUCATION and COMPLETION.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $71.50 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 leaders14 people are listed in the latest report.

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

Money made simple

37.96%of revenue went to mission work71.5% of expenses · Program services

8.21%of revenue went to fundraising15.5% of expenses

$53.07spent for every $100 of revenueRevenue covered expenses this year.

6.91%of revenue went to management and office costs13.0% of expenses

$5.76in assets for every $1 spent this yearSome assets cannot be spent right away.

86.8%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 $17,980 for KELONDA MAULL (EXECUTIVE DIRECTOR). 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$2,350,758

Mission workProgram services$892,37737.96% of revenue71.5% of expenses

ManagementOffice and general costs$162,3456.91% of revenue13.0% of expenses

FundraisingAsking for donations$192,9028.21% of revenue15.5% of expenses

Revenue left after expensesReported annual surplus$1,103,13446.93% of revenueShown in gray on the chart

Total expenses$1,247,62453.07% 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: 71.5% mission · 13.0% management · 15.5% fundraisingTotal expenses: 53.07% of revenue

2023Expense mix: 60.8% mission · 17.1% management · 22.1% fundraisingTotal expenses: 29.67% of revenue

Money in and money out

Revenue$2,350,758

Expenses$1,247,624

Annual surplus $1,103,134 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)$892,377 · 71.5% of expenses

Management and office costs$162,345 · 13.0% of expenses

Fundraising$192,902 · 15.5% of expenses

See all reported dollar amounts

Revenue$2,350,758

Expenses$1,247,624

Assets$7,185,761

Income$2,350,758

Contributions$2,040,192

Mission work (program services)$892,377

Fundraising$192,902

Management and general$162,345

Accounting fees$13,230

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

KELONDA MAULLEXECUTIVE DIRECTOR · 40 hrs/week $17,980Base · Other $17,980

HEDY AYERSDIRECTOR OF DEVELOPMENT & · 40 hrs/week $6,808Base · Other $6,808

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 (14)

KELONDA MAULLEXECUTIVE DIRECTOR

HEDY AYERSDIRECTOR OF DEVELOPMENT &

ADRIENNE PARKMONDBOARD CHAIR

DARREN SCHWARTZDIRECTOR

JOSH CAREYADVISORY, NON-VOTING MEMBE

KAREN HARVEYBOARD VICE CHAIR

LEEANN NEALSECRETARY

MARCIA TEJEDADIRECTOR

MAURICE B MOSLEYDIRECTOR

NEIL M OLEARYDIRECTOR

PAUL K PERNEREWSKI JRDIRECTOR

SANDRA D WILSONDIRECTOR

SEAN MOSLEYTREASURER

STEVEN E SCHNEIDERBOARD VICE CHAIR

About this charity

Recognized since: January 2022
Location: 236 GRAND STREET 120, WATERBURY, CT 06702-1933
County: New Haven
In care of: % ADRIENNE PARKMOND
Primary officer: KELONDA MAULL, EXECUTIVE DIRECTOR

How to reach them

WebsiteVisit the charity’s website Phone(203) 574-6601

Filing and classification

Latest tax year: 2024
Tax period began: July 1, 2024
Return type: 990
Tax preparer: FIORITA KORNHAAS & COMPANY PC