Nonprofit · EIN 20-4562686
LA PROMISE FUND
Also known as MLA PARTNER SCHOOLS
Tax-exempt · LOS ANGELES, CA 90007
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $19,838,433 | $21,944,660 | -$2,106,227 | $45,833,746 | $38,367,455 | $7,466,291 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $17,387,180
- of which government grants
- $9,496,069
- Program service revenue
- $2,248,123
- Investment income
- $202,630
- Net rental income
- $500
- Net gain from sales of assets
- $82,107
- Other revenue
- $500
Expenses
- Grants and similar amounts paid
- $816,530
- Compensation of officers, directors and key employees
- $1,259,121
- Other salaries and wages
- $7,801,906
- Salaries, compensation and benefits (total)
- $10,654,757
- Professional fundraising fees
- $0
- Legal fees
- $21,443
- Accounting fees
- $3,950
- Occupancy
- $748,382
- Travel
- $83,965
- Depreciation
- $993,171
- Program services (functional)
- $16,531,461
- Management and general (functional)
- $4,864,480
- Fundraising (functional)
- $548,719
Balance sheet and other
- Total assets, start of year
- $49,943,711
- Total assets, end of year
- $45,833,746
- Total liabilities, end of year
- $38,367,455
- Net assets, end of year
- $7,466,291
- Land, buildings and equipment
- $32,561,736
- Publicly traded securities
- $1,011,340
- Net assets without donor restrictions
- $4,341,549
- Net assets with donor restrictions
- $3,124,742
- Gross receipts
- $30,538,326
- Employees
- 149
- Volunteers
- 95
- Year formed
- 2005
- State of legal domicile
- CA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| VERONICA MELVIN | CEO/PRESIDENT Officer | 40 | $278,392 | $40,897 |
| IBERT SCHULTZ | EXEC DIRECTOR OF BLACK COLLEGE SUCCESS Key employee | 40 | $217,252 | $28,799 |
| LILIANA VASQUEZ | COO Officer | 40 | $161,272 | $21,670 |
| LESLIE AARONSON | CHIEF PROGRAMS OFFICER Officer | 40 | $142,284 | $27,466 |
| DARLA VANCE | PRINCIPAL Highest-paid employee | 40 | $134,060 | $14,881 |
| ZEIDY REVOLORIO | PRINCIPAL Highest-paid employee | 40 | $134,063 | $10,146 |
| EDGAR CAMPOS | CHIEF ADVANCEMENT OFFICER Highest-paid employee | 40 | $114,557 | $16,337 |
| CAMIRA CARTER | SR. DIRECTOR OF PEOPLE & OPERATIONS Highest-paid employee | 40 | $111,482 | $17,699 |
| RON FERNANDO | CFO Officer | 40 | $113,907 | $9,467 |
| NARINE PAPAZYAN | ASSISTANT PRINCIPAL Highest-paid employee | 40 | $110,831 | $10,810 |
| JASON MARIN | CHIEF OF SCHOOLS Officer | 40 | $58,248 | $5,490 |
| DONNELL BEVERLY | CO CHAIR Trustee or director, Officer | 8 | $0 | $0 |
| STEPHEN PROUGH | CO CHAIR Trustee or director, Officer | 8 | $0 | $0 |
| ELIZABETH MANN | SECRETARY Trustee or director, Officer | 8 | $0 | $0 |
| DEAN HALLETT | TREASURER (UNTIL MAR '25) Trustee or director, Officer | 8 | $0 | $0 |
19 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| SIMON OSBORN | CO CHAIR Trustee or director, Officer | 8 | $0 |
| MEGAN CHERNIN | DIRECTOR Trustee or director | 4 | $0 |
| MELISSA STEPHENS | DIRECTOR Trustee or director | 4 | $0 |
| RUSSELL WESTBROOK | DIRECTOR Trustee or director | 4 | $0 |
| AMIT VERMA | DIRECTOR Trustee or director | 4 | $0 |
| TANESHA DUNCAN | DIRECTOR Trustee or director | 4 | $0 |
| BRIAN MCNAMEE | DIRECTOR Trustee or director | 4 | $0 |
| PAUL DEBERNIER | DIRECTOR Trustee or director | 4 | $0 |
| IVELISSE ESTRADA | DIRECTOR Trustee or director | 4 | $0 |
| PETER JAROWEY | DIRECTOR Trustee or director | 4 | $0 |
| DANIELLE VICK | DIRECTOR Trustee or director | 8 | $0 |
| KATHLEEN KENNEDY | DIRECTOR Trustee or director | 4 | $0 |
| FERNANDO FERNANDEZ | DIRECTOR Trustee or director | 8 | $0 |
| ALISON TEMPLE | DIRECTOR Trustee or director | 4 | $0 |
| JAIME UZETA | DIRECTOR Trustee or director | 4 | $0 |
| ALI POWELL | DIRECTOR Trustee or director | 4 | $0 |
| MOLLY PARK | DIRECTOR Trustee or director | 4 | $0 |
| LEO MEDINA | DIRECTOR Trustee or director | 4 | $0 |
| VANESSA ROSALES | DIRECTOR (FROM SEP '24) Trustee or director | 4 | $0 |
Address and contacts
- Address (IRS master file)
- 1933 S BROADWAY STE 1108, LOS ANGELES, CA 90007-4663
- In care of
- % VERONICA MELVIN
- Principal officer (990 for 2024)
- VERONICA MELVIN, 1933 S BROADWAY SUITE 1108, LOS ANGELES, CA 90007
- Signed the 990
- VERONICA MELVIN, CEO/PRESIDENT
- Phone
- (213) 745-4928
- Return prepared by
- EIDE BAILLY LLP
Mission
TO PROVIDE STUDENTS WITH ACADEMIC AND ENRICHMENT OPPORTUNITIES THAT SPARK PASSION, EMPOWER LEADERSHIP, AND PREPARE THEM FOR THEIR CHOSEN COLLEGE AND CAREER PATHS.
Program accomplishments
- WORKING THROUGH OUR CHARTER SCHOOLS AND A PORTFOLIO OF PROGRAMS THAT REACH STUDENTS THROUGHOUT LA COUNTY, LA PROMISE FUND CREATES VIBRANT COMMUNITY HUBS AND PARTNERSHIPS THAT FOSTER MOTIVATED, ENGAGED AND DIRECTED STUDENTS POISED FOR ACADEMIC, PROFESSIONAL AND PERSONAL SUCCESS. THE PUBLIC SCHOOL RUSSELL WESTBROOK WHY NOT? HIGH SCHOOL IS OPERATED BY LA PROMISE FUND AND SERVES STUDENTS IN GRADES SIXTH THROUGH TWELVE.Expenses $12,343,398 · grants $816,530 · revenue $561,720
- BUILDING COLLEGE SUCCESS (BCS) IS A SOUTH LA-FOCUSED INITIATIVE THAT PARTNERS WITH SELECT COLLEGES AND UNIVERSITIES TO CREATE PATHWAYS FOR COLLEGE SUCCESS, ENABLING MORE STUDENTS FROM 11 SOUTH LA HIGH SCHOOLS TO ATTEND AND GRADUATE FROM 4-YEAR COLLEGES.Expenses $3,228,545 · revenue $1,590,709
- ARTSMATTER DELIVERS IMPACTFUL ARTS EDUCATION PROGRAMS TO LOS ANGELES SCHOOLS BY EQUIPPING TEACHERS WITH RESOURCES TO INTEGRATE MEDIA ARTS INTO THEIR CLASSROOMS. BY EXPANDING STUDENT ACCESS TO ART AND TECHNOLOGY, ARTSMATTER PROGRAMS ENHANCE STUDENT ENGAGEMENT AND FOSTER CREATIVE THINKING, TECHNICAL SKILLS, AND CAREER READINESS IN LA'S CREATIVE ECONOMY.Expenses $959,518 · revenue $95,694
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 20-4562686
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2006
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B82)
- Assets (IRS master file)
- $45,833,746
- Income (IRS master file)
- $30,538,326
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | – | – | – | IRS |
| 990-T | June 2025 | – | – | – | IRS |
| 990 | June 2024 | – | – | – | IRS |
| 990-T | June 2024 | – | – | – | IRS |
| 990 | June 2023 | $13,745,998 | $15,302,635 | $48,218,284 | IRS |
| 990-T | June 2023 | – | – | – | IRS |
| 990 | June 2022 | $15,071,176 | $13,954,124 | $49,429,202 | IRS |
| 990-T | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.
Questions about LA PROMISE FUND
- What is the EIN of LA PROMISE FUND?
- The employer identification number (EIN) of LA PROMISE FUND is 20-4562686.
- Is LA PROMISE FUND tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2006.
- Are donations to LA PROMISE FUND tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does LA PROMISE FUND file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of LA PROMISE FUND due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LA PROMISE FUND last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of LA PROMISE FUND?
- The 990 for the year ended June 30, 2025 names VERONICA MELVIN.
- Who are the officers and directors of LA PROMISE FUND?
- The 990 for the year ended June 30, 2025 lists 34 people; 11 received compensation from the organization, the highest $278,392 (VERONICA MELVIN, CEO/PRESIDENT).
- How much revenue does LA PROMISE FUND have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $19,838,433, expenses of $21,944,660 and total assets of $45,833,746 at year end.
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