The Promise Foundation Inc
The Promise Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Wilmington, NC. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $31K in total assets. In 2025, it awarded 3 grants totaling $27K. Net investment income was $1K.
Key facts about The Promise Foundation Inc
In short: The Promise Foundation Inc gave $27K across 3 grants in 2025 (avg $9K), mostly in North Carolina. Source: 2025 IRS Form 990-PF.
- EIN
- 20-5217323
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $26,500
- Grants made (2025)
- 3
- Average grant
- $8,833
- Median grant
- $1,000
- Total assets
- $30,684
- Primary geography
- North Carolina (98% of itemized 2025 grant dollars)
Data from IRS Form 990-PF, 2025; updated September 2026.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$31K
-28.1% YoY
Annual Giving
$27K
+341.7% YoY
Grant Count
3
-50.0% YoY
Avg Grant Size
$9K
+783.3% YoY
How The Promise Foundation Inc gives
- Giving grew 960% from 2022 to 2025. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Ready to take the next step with The Promise Foundation Inc?
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of all 3 itemized 2025 grant dollars.
Cities
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 3 recipients in 2025
Grant Size Distribution
18 grants across all recorded years
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Good Deeds of Wilmington LLC Wilmington, NC | Provide affordablehousing for teachers | $25,000 |
| Food Bank of Central & Eastern NC Wilmington, NC | Provide food & advance long term solutionsfor hunger relief | $1,000 |
| Nourish NC Tampa, FL | Feeding hungry kidsin New HanoverCounty, NC | $500 |
Financial History
Multi-year comparison from IRS filings
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $30,684 | $42,685 | $36,847 |
| Revenue | $15,099 | $13,340 | $194 |
| Expenses | $27,100 | $7,502 | $1,002 |
| Qualifying Distributions | $26,500 | $6,000 | $1,000 |
| Net Investment Income | $1,169 | — | $170 |
| Distributable Amount | — | — | — |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2019 (received by the IRS May 12, 2020)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS October 19, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 6, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 9, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS April 24, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 14, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS April 28, 2026)
- Added Form 990-PF for fiscal year 2019 (received by the IRS May 12, 2020)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS October 19, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 6, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 9, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS April 24, 2024)
Leadership & Key People
Officers and directors from IRS filings
The Promise Foundation Inc is led by Denise MVincent, President on every filing since 2019; none of the 4 officers listed in 2025 report compensation.
Officers on the 2025 filing
Denise MVincent
President
On filings since 2019
2 hrs/week
No compensation reported
Benjamin Vincent
Vice President
On filings since 2019
1 hr/week
No compensation reported
Jon T Vincent
Treasurer
On filings since 2019
1 hr/week
No compensation reported
Katherine Nicholas
Secretary
On filings since 2019
1 hr/week
No compensation reported
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about The Promise Foundation Inc
How much does The Promise Foundation Inc give each year?
The Promise Foundation Inc gave $27K across 3 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $6K across 6 grants.
What is The Promise Foundation Inc's typical grant size?
The Promise Foundation Inc's median grant in 2025 was $1,000, and its average grant was $8,833, across 3 grants on its 2025 IRS Form 990-PF.
Where does The Promise Foundation Inc give grants?
The Promise Foundation Inc gives mostly in North Carolina: 98% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Wilmington, NC (2 grants).
Does The Promise Foundation Inc give general operating support?
Not in 2025: none of the 3 grants with a stated purpose on The Promise Foundation Inc's 2025 IRS Form 990-PF were described as general or operating support.
How large is The Promise Foundation Inc?
The Promise Foundation Inc reported $31K in total assets on its 2025 IRS Form 990-PF. Its revenue that year was $15K.
What is The Promise Foundation Inc?
The Promise Foundation Inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Wilmington, NC. It holds $31K in total assets as of 2025.
What is The Promise Foundation Inc's EIN?
The Promise Foundation Inc's EIN (Employer Identification Number) is 20-5217323. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Here's the math on researching The Promise Foundation Inc by hand.
Explore Open Grants
Browse active grant opportunities in The Promise Foundation Inc's focus areas in our free grants database
Similar Funders
Funders that support many of the same organizations
Ge Aerospace Foundation
Norwalk, CT
The GE Aerospace Foundation supports engineering education, workforce development, military and veterans causes, and disaster relief in communities where GE Aerospace employees live and work around the world. Its 2024 grants ranged from $10 to nearly $6 million, with a median of $429; it does not accept unsolicited requests.
Assets
$22.5M
Grants
2,467
Total Given
$15.3M
Dan Cameron Family Foundation Inc
Wilmington, NC
The foundation supports a broad range of charitable work, including arts and music, conservation, social services, education, and religious life, with most 2024 grant dollars going to North Carolina and others to New Mexico, Washington, D.C., California, and Maryland. Its 2024 grants ranged from $300 to $75,000, with a median of $1,000. It accepts requests by letter from 501(c)(3) organizations; no deadline is listed.
Assets
$16.4M
Grants
173
Total Given
$685K
Duke Energy Foundation
Charlotte, NC
The Duke Energy Foundation funds workforce development, local economic development and recovery, disaster resilience, conservation, and economic opportunity in communities across North Carolina, South Carolina, Florida, Ohio, Kentucky, and Indiana. It reports more than $30 million in annual charitable grants; awards vary widely, with a 2024 median of $25,000, and applications of $20,000 or less are accepted on a rolling basis. Applicants should contact their local Foundation representative before applying.
Assets
$1.9M
Grants
41
Total Given
$25.6M
The Cynthia & George Mitchell Foundation
The Woodlands, TX
The foundation funds Texas-focused work in clean energy, water, land conservation, sustainability, education, and related community initiatives. Its 2024 grants ranged from $500 to $412,792, with a median of $10,000; it rarely funds unsolicited applications and begins with an online Letter of Inquiry.
Assets
$420.0M
Grants
398
Total Given
$12.1M
Vyuha Inc
Miami Beach, FL
VYUHA INC supports a broad range of charitable work, including arts and culture, wildlife conservation, humanitarian aid, and health services, with grants across multiple states. Its 2025 grants ranged from $2,500 to $50,000, with a median of $15,000. It does not require an application form for consideration; eligible applicants must be public charities under IRC Sections 509(a)(1) or 509(a)(2).
Assets
$14.5M
Grants
66
Total Given
$1.0M
Community Foundation of the
Columbus, GA
The Community Foundation of the Chattahoochee Valley supports nonprofits through donor-advised and discretionary grants, with a broad range of recipients and a primary focus on the Chattahoochee Valley, though it also gives beyond the region. In 2024, its median grant was $18,000, with awards ranging from $5,042 to $8 million; most donor-advised funds do not accept applications, while competitive programs may accept requests when open.
Assets
$392.3M
Grants
207
Total Given
$25.9M
Enterprise Holdings Foundation
Saint Louis, MO
The Enterprise Holdings Foundation supports education, environmental stewardship, disaster relief, hunger relief, health, arts, and community needs, with emphasis on organizations connected to Enterprise employees, their families, or established customers. It gives across communities where Enterprise operates; its 2024 median grant was $3,000, though grants ranged widely. Applications are accepted at any time, but the profile does not say whether unsolicited requests are accepted.
Assets
$594.3M
Grants
1
Total Given
$101.4M
Amica Companies Foundation
Lincoln, RI
AMICA Companies Foundation supports qualified 501(c)(3) organizations working in basic needs and community development, education, health, arts and culture, and community and public affairs, generally serving Rhode Island residents. Its 2024 grants ranged from $53 to $250,000, with a median of $500; it accepts applications year-round through its online system, with no more than one application per organization each year.
Assets
$43.8M
Grants
1,288
Total Given
$4.2M
State Employees Credit Union Foundation
Raleigh, NC
The foundation funds capital projects, regional or statewide programs, and organizational capacity building that strengthen North Carolina communities; it favors projects with broad or replicable impact and does not fund operating budgets or shortfalls. Its 2025 grants ranged from $1,250 to $1 million, with a median of $2,500. Applications are accepted at any time and typically reviewed semiannually.
Assets
$61.0M
Grants
1,806
Total Given
$17.4M
Foundation for the Carolinas
Charlotte, NC
Foundation For The Carolinas funds nonprofits and other eligible organizations working in areas such as education, health and human services, the environment, youth development, and animal welfare, primarily across 13 counties in North and South Carolina. Its 2024 grants had a median of $25,000, though amounts varied widely; most grants are donor-recommended and have no application process, while some competitive programs accept applications under program-specific rules.
Assets
$3.9B
Grants
1,605
Total Given
$609.1M
Dogwood Health Trust
Asheville, NC
Dogwood Health Trust funds organizations working to improve health and wellbeing through housing, education, economic opportunity, and health and wellness in Western North Carolina’s 18 counties and the Qualla Boundary. Its 2024 grants ranged from $2,000 to $21 million, with a median of $37,500; amounts vary by opportunity.
Assets
$2.0B
Grants
835
Total Given
$148.2M
The Winston-Salem Foundation
Winstonsalem, NC
The Winston-Salem Foundation funds nonprofits and community groups serving Forsyth County, North Carolina, across areas including education, housing, health, arts, community development, and human services. Its 2024 grants had a median of $25,000; specific programs offer up to $2,000 for small grants, $30,000 for civic engagement and inclusion, and $15,000 through The Women’s Fund. It accepts applications through its grants portal for listed programs, subject to their requirements and deadlines.
Assets
$630.1M
Grants
823
Total Given
$88.8M
More Funders in North Carolina
The Promise Foundation Inc down — hundreds of funders to go?