Promise Network Inc
Promise Network Inc is a private foundation focused on Arts, Culture & Humanities, based in Birmingham, AL. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $450K in total assets. In 2024, it made $85K in qualifying distributions. Net investment income was $50K.
Promise Network Inc at a glance
- Total assets
- $449,686
- -17.5% vs 2023
- Revenue (2024)
- $91,279
- +105.0% vs 2023
- Qualifying distributions (2024)
- $85,000
- -12.0% vs 2023
- Expenses (2024)
- $183,509
- -13.3% vs 2023
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated September 2026.
Who Promise Network Inc funds
How this funder distributes its grants
Grant Size Distribution
7 grants across all recorded years
The most common grant size was under $50K: 7 grants of 7 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
How Promise Network Inc gives
- Giving held roughly steady from 2020 to 2023 (−19%). Method
- In 2024 it paid out 336% of its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2023, annual grant giving ranged from $20K (2023) to $24K (2020). In 2023 it made 3 grants totaling $20K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Christian and Missionary Alliance Mount Union, PA | Philadelphia Project | $15,000 |
| Tony and Melinda Wenger Manheim, PA | Medical or Adaptive Equipment | $2,500 |
| Brian and Ashley Durost Marietta, PA | Benevolance | $2,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $449,686 | $91,279 | $183,509 | — | — | $85,000 | $49,967 | $25,291 |
| 2023 | $544,998 | $44,523 | $211,646 | $19,500 | 3 | $96,636 | $21,881 | $30,467 |
| 2022 | $708,332 | $22,321 | $178,703 | — | — | $77,136 | $12,041 | $38,410 |
| 2021 | $864,484 | $88,528 | $207,453 | $24,000 | 1 | $127,751 | $56,912 | $47,021 |
| 2020 | $982,903 | $27,813 | $66,833 | $24,218 | 3 | — | $19,161 | $48,999 |
Under IRS private-foundation payout rules, Promise Network Inc reported a distributable amount of $25K for 2024 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Promise Network Inc is led by Ronald W. Mitchell, President on every filing since 2020; 1 of 4 officers listed in 2024 is compensated.
Officers on the 2024 filing
Ronald W. Mitchell
President
On filings since 2020
10 hrs/week
$25K (2020) → $85K (2024)
Elaine Mitchell
Director
On filings since 2020
No compensation reported
Jim Stutts
Director
On filings since 2020
No compensation reported
Kathy Stutts
Director
On filings since 2020
No compensation reported
Former officers (1)
- Former: Jason Mitchell (2020–2022) — Director
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $85K, to Ronald W Mitchell (President).
Frequently asked questions about Promise Network Inc
How large is Promise Network Inc?
Promise Network Inc reported $450K in total assets on its 2024 IRS Form 990-PF. It paid out $85K in qualifying distributions that year, against a required minimum of $25K (roughly 5% of its investment assets).
What is Promise Network Inc?
Promise Network Inc is a private foundation focused on Arts, Culture & Humanities, based in Birmingham, AL. It holds $450K in total assets as of 2024.
Where does Promise Network Inc operate?
Promise Network Inc has awarded grants in California, Colorado, Georgia, Pennsylvania.
What is Promise Network Inc's EIN?
Promise Network Inc's EIN (Employer Identification Number) is 63-0771801. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Live grants for the work Promise Network Inc funds
Arts, Culture & Humanities Open opportunities, soonest deadline first.
Explore Open Grants
Browse active grant opportunities in Promise Network Inc's focus areas in our free grants database
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