The Promise Foundation Inc
The Promise Foundation Inc is a private foundation, 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.
The Promise Foundation Inc at a glance
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.
- Annual giving (2025)
- $26,500
- +341.7% vs 2024
- Grants made (2025)
- 3
- -50.0% vs 2024
- Average grant
- $8,833
- +783.3% vs 2024
- Median grant
- $1,000
- Total assets
- $30,684
- -28.1% vs 2024
- Primary geography
- North Carolina (98% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who The Promise Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 3 recipients in 2025
The largest 2025 recipient was Good Deeds of Wilmington LLC ($25K). Together the top 3 received $27K.
Grant Size Distribution
18 grants across all recorded years
The most common grant size was under $50K: 18 grants of 18 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 3 itemized grants.
Cities
How The Promise Foundation Inc gives
- Giving grew 960% from 2022 to 2025. 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 2019 to 2025, annual grant giving ranged from $1K (2023) to $27K (2025). In 2025 it made 3 grants totaling $27K.
Grants by year
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 |
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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 |
|---|---|---|---|---|---|---|---|
| 2025 | $30,684 | $15,099 | $27,100 | $26,500 | 3 | $26,500 | $1,169 |
| 2024 | $42,685 | $13,340 | $7,502 | $6,000 | 6 | $6,000 | — |
| 2023 | $36,847 | $194 | $1,002 | $1,000 | 1 | $1,000 | $170 |
| 2022 | $37,655 | $1,044 | $3,406 | $2,500 | 3 | $2,500 | $112 |
| 2021 | $40,017 | $2,070 | $23,105 | $22,500 | 5 | — | $465 |
| 2020 | $60,602 | $1,008 | $20,441 | $19,770 | 10 | — | $337 |
| 2019 | $80,035 | $1,000 | $37,023 | $23,958 | 7 | — | — |
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'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.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- 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)
Live grants for the work The Promise Foundation Inc funds
Philanthropy, Voluntarism & Grantmaking Open opportunities, soonest deadline first.
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Browse active grant opportunities in The Promise Foundation Inc's focus areas in our free grants database
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