Mission
PROMOTE ECONOMIC DEVELOPMENT IN THE NORTH MEMPHIS COMMUNITY BY PROVIDING AFFORDABLE HOUSING
Public Charity
PROMISE DEVELOPMENT CORPORATION
Based in MEMPHIS, TN, PROMISE DEVELOPMENT CORPORATION operates as a Public Charity. The organization reported $3.5M in revenue, $3.5M in expenses, $7.2M in total assets for fiscal year 2023. Imperigo tracks 25 reported grant relationships connected to this organization totaling approximately $2.0M.
EIN: 311708526
MEMPHIS, TN
Housing Rehabilitation
NTEE: L25
Latest filing: 2023
Total Revenue$3.5M
Total Expenses$3.5M
Total Assets$7.2M
Grant Records25
Funding Total$2.0M
Filing Years2018–2023
Where $100 goes at Promise Development Corporation
How Promise Development Corporation divides every $100 it spends, from its own Form 990 filings, averaged across 5 years.
$80
Programs
the work itself
$20
Management
running the organization
$0
Fundraising
none reported
No fundraising costs are reported. That often means fundraising runs through a separate affiliated organization that files its own return.
Inside the $80 for programs
$80
Provided affordable housing to 160 clients in the north Memphis community
Source: Form 990 filings with the IRS, latest fiscal year 2023. Shares are from the organization's reported expenses. Data by Imperigo; not affiliated with the IRS.
Sample Grants Received
TO PASS THROUGH EXPENDITURE GRANTS TO SUB GRANTEES.
$54,000
TO PASS THROUGH EXPENDITURE GRANTS TO SUB GRANTEES.
$54,000
Pre-Development
$40,000
GENERAL OPERATIONAL SUPPORT
$58,902
TO PASS THROUGH EXPENDITURE GRANTS TO SUB GRANTEES.
$54,000
Showing up to 5 of 25 total records — full history available with membership.
Officers & Directors
BOARD CHAIR/PRESIDENT
Chemise Buirse
EXECUTIVE DIRECTOR
Cornelius Sanders
MEMBER
Demetra Keys
VICE PRESIDENT
Janice Bennett
MEMBER
Justin Starling
MEMBER
Melvin Williams
Officer compensation and complete director data available with membership.
Top Grant Purposes
Financial Trends
| Year | Revenue | Expenses | Assets |
|---|---|---|---|
| 2023 | $3.5M | $3.5M | $7.2M |
| 2022 | $4.3M | $3.2M | $7.2M |
| 2020 | $3.7M | $2.8M | $6.0M |
| 2019 | $2.5M | $2.4M | $5.0M |
| 2018 | $2.6M | $2.3M | $5.0M |
Between 2018 and 2023, reported annual revenue grew from $2.6M to $3.5M (+35%), with total assets most recently reported at $7.2M.
Interactive year-over-year charts and full filing details available with membership.