Promise Development Corporation
Promise Development Corporation
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About this organization
Mission
Building a better place to live, work & play
About
Preserving housing and promoting economic development in the north
Interesting data from their 2020 990 filing
The purpose of the non-profit is listed in the filing as “Promote economic development in the north memphis community by providing affordable housing”.
When discussing its operations, they were characterized as: “To enhance the quality of life through creating and preserving housing, promoting economic development opportunities and encouraging community life”.
- The non-profit's legally reported state of operation is TN.
- The filing states that the non-profit's address in the year 2020 is 379 COSSITT PL, MEMPHIS, TN, 38126.
- The form submitted by the non-profit for 2020 shows a total of 26 employees.
- Does not operate a hospital.
- Does not operate a school.
- Does not collect art.
- Does not provide credit counseling.
- Does not have foreign activities.
- Is not a donor-advised fund.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $326,733.
- The remuneration plan for the CEO of the organization is based on a review and approval process by a neutral entity.
- The organization has a written policy that describes how long it will retain documents.
- The organization has 11 independent voting members.
- The organization was formed in 2006.
- The organization has a written policy that addresses conflicts of interest.
- The organization's financial statements were compiled or reviewed by an accountant.
- The organization pays $684,245 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.
- The organization provides Form 990 to its governing body.
- The organization has minutes of its meetings.
- The organization has a written whistleblower policy.
- The organization's financial statements were reviewed by an accountant.