NonprofitsPromise Development Corporation

Housing & Shelter

Promise Development Corporation

MEMPHIS, TN

Total revenue

$3.5M

Total expenses

$3.5M

Net assets

$6.3M

Grants received

$1.1M

20 grants

EIN

311708526

Tax year

2023

Mission

To enhance the quality of life through creating and preserving housing, promoting economic development opportunities and encouraging community life.

Financials

FY 2023

Revenue

Contributions & grants$2.2M
Program service revenue$1.3M
Investment income
Other revenue
Total revenue$3.5M

Expenses

Grants paid
Salaries & benefits$863K
Fundraising
Other expenses$2.6M
Total expenses$3.5M
Total assets$7.2M
Net assets$6.3M

People

9 listed

NameRoleCompensation

CORNELIUS SANDERS

EXECUTIVE DIRECTOR

Board

$125K

30 hrs/wk

REVA MARSHALL

SECRETARY

Board

$25K

20 hrs/wk

JUSTIN STARLING

MEMBER

Board

1 hrs/wk

DEMETRA KEYS

MEMBER

Board

1 hrs/wk

JANICE BENNETT

VICE PRESIDENT

Board

1 hrs/wk

MELVIN WILLIAMS

MEMBER

Board

1 hrs/wk

CHEMISE BUIRSE

BOARD CHAIR/PRESIDENT

Board

11 hrs/wk

ROBERT MALONE

MEMBER

Board

1 hrs/wk

RODNEY SANDERS

TREASURER

Board

1 hrs/wk

Independent contractors

B&W EXCAVATING

CONSTRUCTION

$575K

WALDEN POINTE APARTMENTS

RENT

$125K

Grants received

Showing 20 of 20

FromAmountPurposeYear
$54K
TO PASS THROUGH EXPENDITURE GRANTS TO SUB GRANTEES.
2023
$40K
Pre-Development
2023
$59K
GENERAL OPERATIONAL SUPPORT
2022
$54K
TO PASS THROUGH EXPENDITURE GRANTS TO SUB GRANTEES.
2022
$37K
CDC Capacity
2022
$8K
GENERAL OPERATIONAL SUPPORT
2021
$6K
Assisi:CDC
2021
$62K
GENERAL OPERATIONAL SUPPORT
2020
$48K
Capacity Building
2020
$48K
Capacity Building
2020
$36K
CDC Capacity Assistance
2020
$36K
CDC Capacity Assistance
2020
$36K
Capacity Building
2019
$48K
Capacity Building
2018
$8K
GENERAL OPERATIONAL SUPPORT
2018
$12K
Capacity Building
2016

Funded by

$1.1M from 3 funders · 20 grants · 2016–2023

Community Alliance For The Homeless

$637K · 6 grants · 2017–2023

Community Lift Corp

$347K · 10 grants · 2016–2023

Community Foundation

$136K · 4 grants · 2018–2022

Details

EIN311708526
NTEE codeL25
Subsection03
Ruling date2000-08
Formed2006
Employees33
Volunteers0
PROMISE DEVELOPMENT CORPORATION — Mission, Financials & Grants Received | Grantivo