2017-11-14T07:26:10-06:00 2016-12-31 721396621 CARR RIGGS & INGRAM LLC 215 BAYTREE DRIVE MELBOURNE FL 329402195 990 2016-01-01 900520600 PROMISE INC PROM 3215367062 PO BOX 120028 WEST MELBOURNE FL 32912 BETTINA FARMER EXECUTIVE DIRECTOR 3217227400 2017-11-13 1 BARBARA J OSWALT CPA P00124238 3212550088 2017-11-10 12.16.54.186 2017-11-13 15:51:46 ES P 44F92271D91890FDDB11E03ACD5AD4BEC1296767 F50BC8D0E391728C4F1EB46004F67724879D7C8D 2016 2017-02-10 21:41:12Z BETTINA FARMER 1490 DOWD COURT SE PALM BAY FL 32909 1702645 0 X WWW.PROMISEINBREVARD.COM X 2009 FL PROMISE, INC. WAS ESTABLISHED TO DEVELOP HOUSING & OTHER SERVICES FOR INDIVIDUALS WITH DISABILITIES. 16 15 37 173 0 0 520781 849486 331751 385730 148 -69583 54619 293289 907299 1458922 0 0 0 0 381840 536603 0 0 0 264491 354485 646331 891088 260968 567834 2972644 2350767 2493177 1303466 479467 1047301 TO PROVIDE A MUCH NEEDED HOUSING OPTION FOR YOUNG ADULTS WITH SPECIAL NEEDS THAT INCLUDES VOCATIONAL TRAINING, EMPLOYMENT, HEALTH, WELLNESS AND FITNESS, AS WELL AS DEVELOP PUBLIC/PRIVATE PARTNERSHIPS THAT WILL HELP MINIMIZE THE NEED FOR STATE FUNDING. 0 0 734842 1. PROVIDED VOCATIONAL TRAINING TO OVER 65 YOUNG ADULTS WITH SPECIAL NEEDS.2. RECEIVED FUNDING FOR AND BEGAN CONSTRUCTION OF 90,000 SF CAMPUS AND 3 APARTMENT BUILDINGS WITH 1, 2, 3, AND 4 BEDROOM UNITS. A RIBBON CUTTING IS BEING PLANNED FOR EARLY 2018.3. BEGAN CONSTRUCTION OF THE PROMISE CAFE & BAKERY WHICH WILL PROVIDE VOCATIONAL TRAINING AND EMPLOYMENT FOR 40 YOUNG ADULTS WITH SPECIAL NEEDS. CONSTRUCTION COMPLETION PLANNED FOR EARLY 2018. 734842 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 14 0 1 37 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 16 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 0 1 1 FL X BETTINA FARMER 3215367062 1490 DOWD COURT SE PA LM BAY FL 32909 TERI BRANT DIRECTOR 2.00 X 0 0 0 JAMES R BRESS DIRECTOR 2.00 X 0 0 0 PAMELA M BRESS ESQUIRE DIRECTOR 2.00 X 0 0 0 JIM W BROWN DIRECTOR 2.00 X 0 0 0 CHRIS J CONNEEN DIRECTOR 2.00 X 0 0 0 EDWARD J KINBERG DIRECTOR 2.00 X 0 0 0 DENNIS K ROHNE DIRECTOR 2.00 X 0 0 0 MAYOR HAL J ROSE DIRECTOR 2.00 X 0 0 0 FRANK J VEGA DIRECTOR 2.00 X 0 0 0 WAYNE IVEY DIRECTOR EMERITUS 2.00 X 0 0 0 LORI SCOTT DIRECTOR EMERITUS 2.00 X 0 0 0 BETTINA D FARMER EXECUTIVE DIRECTOR 40.00 X 99824 0 7886 LORI D NELSON CHAIR 3.00 X 0 0 0 TERRY L LOCKE VICE CHAIR 3.00 X 0 0 0 HAROLD EDWARD RUSTY MELLE SECRETARY 2.00 X 0 0 0 WAYNE COOPER TREASURER 3.00 X 0 0 0 99824 0 7886 0 0 0 0 0 7720 841766 147018 849486 DEVELOPER FEE 236000 383385 383385 PARTICIPANT FEES 624310 2345 2345 385730 69583 -69583 -69583 -69583 108752 7720 13580 95172 95172 320912 160560 160352 160352 MISC INCOME 900099 37765 37765 37765 1458922 514264 0 95172 99824 49912 49912 409782 375900 33882 26997 26997 15265 15265 82478 29309 53169 38910 38910 32097 32097 96163 96163 10498 10498 21 21 11355 11355 19089 15071 4018 PROGRAM EXPENSES/SUPPLI 29129 29129 REPAIR AND MAINTENANCE 6828 6828 BANK SERVICE CHARGES 6187 6187 POSTAGE AND DELIVERY 4785 4785 1680 1680 891088 734842 156246 0 553458 527002 19424 20000 6018 38014 1216840 22983 1615155 1193857 309365 262529 778589 2972644 2350767 66265 183466 54146 2305266 1120000 67500 2493177 1303466 X 183704 644790 295763 402511 479467 1047301 2972644 2350767 567834 0 X 0 1 X 1 0 X 186842 129806 239479 520781 849486 1926394 48151 75074 306201 400426 623016 1452868 41409 41409 234993 246289 545680 921207 1472502 3420671 0 0 0 3420671 234993 246289 545680 921207 1472502 3420671 1.00000 1.00000 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1083546 1083546 3377 3377 30006 30006 99911 22983 76928 1193857 X 1619290 146788 13580 160368 1458922 0 1458922 1051456 146788 13580 160368 891088 0 891088 PART X, LINE 2: INCOME TAX PROMISE IS A CHARITABLE ORGANIZATION THAT IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IT HAS ALSO BEEN CLASSIFIED AS AN ENTITY THAT IS NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) AND QUALIFIES FOR DEDUCTIBLE CONTRIBUTIONS AS PROVIDED IN SECTION 170(B)(1)(A)(VI). PIBM AND PROMISE IN BREVARD DEVELOPMENT, LLC ARE LIMITED LIABILITY COMPANIES THAT ARE DISREGARDED ENTITIES FOR FEDERAL AND STATE INCOME TAX PURPOSES. THEIR ACTIVITIES ARE REPORTED BY PROMISE. THE ORGANIZATION ACCOUNTS FOR INCOME TAXES IN ACCORDANCE WITH FINANCIAL ACCOUNTING STANDARDS BOARD ACCOUNTING STANDARDS CODIFICATION ("FASB ASC") 740, INCOME TAXES, WHICH CLARIFIES THE ACCOUNTING AND DISCLOSURE REQUIREMENTS FOR UNCERTAINTY IN TAX POSITIONS. IT REQUIRES A TWO-STEP APPROACH TO EVALUATE TAX POSITIONS AND DETERMINE IF THEY SHOULD BE RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE TWO-STEP APPROACH INVOLVES RECOGNIZING ANY TAX POSITIONS THAT ARE "MORE LIKELY THAN NOT" TO OCCUR AND THEN MEASURING THOSE POSITIONS TO DETERMINE IF THEY ARE RECOGNIZABLE IN THE CONSOLIDATED FINANCIAL STATEMENTS. MANAGEMENT REGULARLY REVIEWS AND ANALYZES ALL TAX POSITIONS AND HAS DETERMINED THAT NO UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION HAVE OCCURRED. IN GENERAL, INFORMATION RETURNS ARE SUBJECT TO AUDIT BY GOVERNMENTAL AGENCIES FOR A PERIOD OF THREE YEARS. THE ORGANIZATION IS NO LONGER SUBJECT TO EXAMINATION FOR YEARS PRIOR TO 2013. PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING REVENUES INCLUDED AS A DEDUCTION IN REVENUES $13,580 PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EXPENSES INCLUDED AS A REDUCTION IN EXPENSES $13,580 INDIAFEST 66204 66204 7218 GRAN FONDO 17917 17917 1430 4 32351 7720 24631 4932 116472 7720 108752 13580 13580 95172 X 147018 THRIFT STORE VALUE 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B ORGANIZATION'S PROCESS TO REVIEW FORM 990: EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL ANNUALLY MEET TO REVIEW THE ORGANIZATION'S TAX RETURN BEFORE FINAL FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C ENFORCEMENT OF CONFLICTS POLICY: IF THE GOVERNING BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE GOVERNING BOARD OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE THE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION PROCESS FOR TOP OFFICIAL: A VOTING MEMBER OF THE GOVERNING BOARD WHO RECEIVES COMPENSATION, DIRECTLY OR INDIRECTLY, FROM THE ORGANIZATION FOR SERVICES IS PRECLUDED FROM VOTING ON MATTERS PERTAINING TO THE MEMBER'S COMPENSATION. THE ORGANIZATION SHALL DO PERIODIC REVIEWS TO DETERMINE COMPENSATION ARRANGEMENTS AND BENEFITS ARE REASONABLE, BASED ON COMPETENT SURVEY INFORMATION, AND THE RESULT OF ARM'S LENGTH BARGAINING. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS DISCLOSURE EXPLANATION: THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC BY ACCESSING THE ORGANIZATION'S WEBSITE, SELECTING THE 'CONTACT' TAB AND REQUESTING DOCUMENTS THROUGH EMAIL.