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Nonprofit · EIN 95-4000408

PROMISING FUTURES INC

Tax-exempt · EL CAJON, CA 92020

Financials

$4M$3.2M2023$3.3M$3.5M2024
Revenue Expenses · by fiscal year end
Financials of PROMISING FUTURES INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$3,295,620$3,504,958-$209,338$3,110,525$1,483,649$1,626,876
December 31, 2023990$3,983,512$3,192,422$791,090$3,575,996$1,739,782$1,836,214
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$21,953
Program service revenue
$3,245,793
Investment income
$5,505
Other revenue
$22,369

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$149,834
Other salaries and wages
$1,911,949
Salaries, compensation and benefits (total)
$2,367,721
Professional fundraising fees
$0
Legal fees
$784
Accounting fees
$10,450
Occupancy
$31,772
Depreciation
$102,630
Program services (functional)
$2,920,857
Management and general (functional)
$584,101

Balance sheet and other

Total assets, start of year
$3,575,996
Total assets, end of year
$3,110,525
Total liabilities, end of year
$1,483,649
Net assets, end of year
$1,626,876
Land, buildings and equipment
$2,019,858
Net assets without donor restrictions
$1,626,876
Gross receipts
$3,295,620
Employees
55
Year formed
1995
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 December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
ERIC KINGPROGRAM INSTRUCTOR40$187,597$6,770
GINA PARRACEO
Trustee or director, Officer
40$137,324$6,817
MARTHA MORRISSEYCFO
Trustee or director, Officer
50$12,510$6,457
MARTHA MORRISSEYPresident
Trustee or director, Officer
1$0$0
JENNY VALENCIASecretary
Trustee or director, Officer
1$0$0
MICHAEL BUTCHERDirector
Trustee or director
1$0$0
ELAINE O'COYNEDirector
Trustee or director
1$0$0
LYNN ARMSTRONGDirector
Trustee or director
1$0$0
HEATHER SOSSONGDirector
Trustee or director
1$0$0
JAMES TODD LESTERDirector
Trustee or director
1$0$0
GINA PARRAVice President
Trustee or director, Officer
1$0$0
990 for the year ended December 31, 2023: 12 people
NameTitleHours / weekCompensationOther / benefits
ERIC KINGPROGRAM INSTRUCTOR40$199,948$14,481
GINA PARRACEO
Trustee or director, Officer
40$128,777$5,451
MARTHA MORRISSEYCFO
Trustee or director, Officer
50$8,367$5,733
MARTHA MORRISSEYPresident
Trustee or director, Officer
1$0$0
NATHAN CRAIGDirector
Trustee or director
1$0$0
JENNY VALENCIASecretary
Trustee or director, Officer
1$0$0
MICHAEL BUTCHERDirector
Trustee or director
1$0$0
ELAINE O'COYNEDirector
Trustee or director
1$0$0
LYNN ARMSTRONGDirector
Trustee or director
1$0$0
HEATHER SOSSONGDirector
Trustee or director
1$0$0
JAMES TODD LESTERDirector
Trustee or director
1$0$0
GINA PARRAVice President
Trustee or director, Officer
1$0$0

Address and contacts

Address (IRS master file)
109 E LEXINGTON AVE, EL CAJON, CA 92020-4516
Signed the 990
GINA PARRA, Executive Director
Phone
(619) 592-4850
Return prepared by
KAKU & MERSINO LLP

California records

California keeps its own records of charities and corporations. Search them by EIN 95-4000408 or by the name PROMISING FUTURES INC.

Attorney General, Registry of Charities and Fundraisers
Registration status and filed reports (CT-TR-1, RRF-1)

Mission

PROVIDE HOUSING AND RESIDENTIAL SERVICES FOR THE DEVELOPMENTALLY DISABLED

990 for the year ended December 31, 2024

Program accomplishments

  • PROVIDE HOUSING AND RESIDENTIAL SERVICES FOR THE DEVELOPMENTALLY DISABLED
    Expenses $2,920,857 · revenue $3,245,793

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 December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
95-4000408
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
1986
Accounting year ends
December
Files
Form 990 or 990-EZ
Category (NTEE)
Human services (P700)
Assets (IRS master file)
$3,110,525
Income (IRS master file)
$3,295,620

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$3,295,620$3,504,958$3,110,525IRS
990December 2023$3,983,512$3,192,422$3,575,996XML
990December 2022$2,926,136$2,970,739$2,944,669IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 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 (search EIN 95-4000408).

Questions about PROMISING FUTURES INC

What is the EIN of PROMISING FUTURES INC?
The employer identification number (EIN) of PROMISING FUTURES INC is 95-4000408.
Is PROMISING FUTURES INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1986.
Are donations to PROMISING FUTURES INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does PROMISING FUTURES INC 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 PROMISING FUTURES INC due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did PROMISING FUTURES INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who are the officers and directors of PROMISING FUTURES INC?
The 990 for the year ended December 31, 2024 lists 11 people; 3 received compensation from the organization, the highest $187,597 (ERIC KING, PROGRAM INSTRUCTOR).
How much revenue does PROMISING FUTURES INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $3,295,620, expenses of $3,504,958 and total assets of $3,110,525 at year end.

Other nonprofits in EL CAJON

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