2019-11-05T10:02:52-06:00 2018-12-31 591152714 BERMAN HOPKINS WRIGHT LAHAM CPAS & ASSOC 8035 SPYGLASS HILL RD MELBOURNE FL 32940 990 2018-01-01 900520600 PROMISE INC PROM 3217227400 4105 NORFOLK PARKWAY WEST MELBOURNE FL 32904 NAN EVANS CPA CEO 3217227400 2019-11-01 true MICHAEL R DURANTE CPA P00525773 3217572020 2019-11-05 167.68.16.49 2019-11-05 10:02:52 CS P 1AF3C33E068449F31F79581828F5FE3880F7053F 5D0280A0F7BC3FECD0BDDAC7B68987F93B77BE44 2018 2020-01-14 16:20:31Z PROMISE IN BREVARD NAN EVANS CPA 4683866 false X WWW.PROMISEINBREVARD.COM X 2009 FL PROMISE, INC. WAS ESTABLISHED TO DEVELOP HOUSING & OTHER SERVICES FOR INDIVIDUALS WITH DISABILITIES. 7 6 66 75 0 1426355 1715422 278162 2397127 -42262 207941 327488 1912458 4397775 0 0 797702 1222136 0 67347 507954 660938 1305656 1883074 606802 2514701 3740560 6048485 2395822 1879681 1344738 4168804 X TO PROVIDE A MUCH NEEDED HOUSING OPTION FOR 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. false false 1485335 2397127 1. PROVIDED VOCATIONAL TRAINING TO OVER 128 ADULTS WITH SPECIAL NEEDS FOR OVER 8,900 HOURS. 2. COMPLETED CONSTRUCTION OF THE 90,000 SF CAMPUS AND APARTMENT BUILDINGS. ALL WERE OPEN AND OPERATIONAL WITHIN 2018. 3. CONSTRUCTION CONTINUED ON THE PROMISE CAFE & BAKERY WHICH WILL PROVIDE VOCATIONAL TRAINING AND EMPLOYMENT FOR ADULTS WITH SPECIAL NEEDS. CONSTRUCTION COMPLETION AND OPENING IS NOW PLANNED FOR LATE 2019. 1485335 true true false false false false false false false false true false false true true true false true false false false false false false true false false false false false false false false true false false false false true false false false false true true false false false true 15 0 true 66 true false false false false false false false false false false false false false false X 7 6 false false false false false false false true true false false true true true true false false true false true true FL X NAN EVANS CPA 3217227400 4105 NORFOLK PARKWAY WEST MELBOURNE FL 32904 DR LORI D NELSON CHAIR 2.00 X X 0 0 0 TERRY L LOCKE VICE CHAIR 2.00 X X 0 0 0 HAROLD E MELLE SECRETARY 2.00 X X 0 0 0 WAYNE COOPER TREASURER 2.00 X X 0 0 0 MIKE DURANTE DIRECTOR 2.00 X 0 0 0 EDWARD J KINBERG DIRECTOR 2.00 X 0 0 0 HAL J ROSE DIRECTOR 2.00 X 0 0 0 FRANK J VEGA DIRECTOR 2.00 X 0 0 0 NAN EVANS CPA CEO 40.00 X 50000 0 0 BETTINA FARMER OUTGOING EX 40.00 X 47217 0 0 97217 false false false 1715422 258657 1715422 DEVELOPER FEE 236000 1993152 1993152 LIFE ENRICHMENT FEE 624310 341715 341715 VOCATIONAL REHABILITATION 624310 62260 62260 2397127 2800 45062 -42262 -42262 -42262 46613 5514 41099 1916 432597 235515 197082 197082 MISC INCOME 900099 89307 89307 89307 4397775 2641254 1916 97217 74401 19938 2878 1016353 777819 208447 30087 108566 80795 22398 5373 53449 19840 33609 3050 3050 15890 11710 4180 26612 26612 113184 113184 8503 8503 39734 39734 40534 40534 92686 92686 PROGRAM EXPENSES 143137 142692 445 SUPPLIES 58089 18508 14067 25514 BAD DEBT EXPENSE 26265 26265 REPAIRS AND MAINTENANCE 24057 24057 15748 14260 1488 1883074 1485335 330392 67347 891717 573957 35417 34882 31000 100065 10859 10936 1453395 89691 1374067 1363704 379365 793504 1495515 603996 2090061 3740560 6048485 217888 293431 8702 2070000 1350000 186250 99232 50000 2395822 1879681 X 1142374 2300132 202364 1868672 1344738 4168804 3740560 6048485 X 2514701 309365 X false true X true false X 239479 520781 849486 1426355 1715422 4751523 306201 400426 623016 670973 2961766 4962382 545680 921207 1472502 2097328 4677188 9713905 9713905 916 916 545680 921207 1472502 2097328 4678104 9714821 0.99990 1.00000 0.00000 0.00000 X 1214268 1214268 49159 49159 76873 76873 113095 89691 23404 1363704 OPERATING RESERVE 705723 GUARANTOR RESERVE 694277 DEVELOPER FEES RECEIVABLE 593152 DUE FROM PROMISE IN BREVARD 78795 DUE FROM OTHERS 18114 2090061 LINE OF CREDIT 50000 50000 X SCHEDULE D, PAGE 3, PART X 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. FASHION SHOW 27167 27167 662 POKER RUN 9192 9192 1684 1 6376 6376 1206 42735 42735 3552 3552 39183 VIERA COMMERCE PARK LLC RELATED TO DIRECTOR REAL ESTATE X 1070000 1070000 false true true FRANK J VEGA DIRECTOR FUND OPERATIONS OF THE ORGANIZATION X 1000000 280000 false true true 1350000 SCHEDULE L, PART V THE ORGANZIZATION USES TD BANK FOR FOR ITS BANKING SERVICES. TERRY L. LOCKE, DIRECTOR, IS ASSOCIATED WITH TD BANK. X 226351 X MATERIAL 1 32306 false false false FORM 990 - ORGANIZATION'S MISSION TO PROVIDE A MUCH NEEDED HOUSING OPTION FOR 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. FORM 990, PAGE 6, PART VI, LINE 11B 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, PAGE 6, PART VI, LINE 12C 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, PAGE 6, PART VI, LINE 15A 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, PAGE 6, PART VI, LINE 19 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. FORM 990, PART XI, LINE 9 ADJUSTMENT FOR INVESTMENT IN PIBM 309,365 PROMISE IN BREVARD MEMBER LLC 4105 NORFOLK PARKWAY WEST MELBOURNE FL 32904 462780682 MANAGEMENT FL N/A true false false false false false false false false false false false false false false false false false false false