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.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$450K
-17.5% YoY
Revenue
$91K
+105.0% YoY
Qualifying Distributions
$85K
-12.0% YoY
Expenses
$184K
-13.3% YoY
About Promise Network Inc
Based on IRS filings
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.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $449,686 | $544,998 | $708,332 |
| Revenue | $91,279 | $44,523 | $22,321 |
| Expenses | $183,509 | $211,646 | $178,703 |
| Qualifying Distributions | $85,000 | $96,636 | $77,136 |
| Net Investment Income | $49,967 | $21,881 | $12,041 |
| Distributable Amount | $25,291 | $30,467 | $38,410 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 0 recipients in 2024
Grant Size Distribution
7 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| RONALD W MITCHELL | PRESIDENT | 10 | $85,000 |
| ELAINE MITCHELL | DIRECTOR | — | — |
| KATHY STUTTS | DIRECTOR | — | — |
| JIM STUTTS | DIRECTOR | — | — |
Subject Areas
Focus areas based on grantmaking activity
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Similar funders by location and focus area
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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