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Compensation 990 is an independent service that uses public IRS Form 990 filings as its source data. We clean and standardize this information, but the original filings may contain errors or omissions. Years on this site refer to the organization’s fiscal year end date on the filing.

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Organizations Housing & Shelter Promise Development Corporation

Promise Development Corporation

Fiscal year ending 2023. Filed on November 14, 2024.

262 Chelsea Ave Ste 101
Memphis, Tennessee 38107

Promise Development Corporation (EIN: 31-1708526) has filed an IRS Form 990 between fiscal years 2016 and 2023. In its fiscal year 2023 IRS Form 990 filing, Promise Development Corporation, a 501(c)(3) charitable organization, reported compensation for 1 out of 33 total employees. Among the employees shown here, the average compensation is $128,247. The highest compensated employee at Promise Development Corporation is Cornelius Sanders with fiscal year 2023 compensation of $128,247. Promise Development Corporation changed its name from Promise Development Corporatio in 2020.

Revenue, expenses, and employee compensation

Revenue

$3,499,542

Expenses

$3,450,236

Employee compensation

$863,251
Revenue, expenses, and employee compensation over time

Reported Compensated Employees

Cornelius Sanders
Executive Director
$128,247
$124,668 No related comp$3,579

Benchmark Employee Compensation

Non-Employee Board Members

Reva Marshall
Secretary
$25,350
$25,017 No related comp$333
Robert Malone
Member
No compensation reported
Melvin Williams
Member
No compensation reported
Demetra Keys
Member
No compensation reported
Janice Bennett
Vice President
No compensation reported
Justin Starling
Member
No compensation reported
Chemise Buirse
Board Chair and President
No compensation reported
Rodney Sanders
Treasurer
No compensation reported

Contractors

B&W Excavating
Construction
$575,000
Walden Pointe Apartments
Rent
$125,010

Mission Statement

TO ENHANCE THE QUALITY OF LIFE THROUGH CREATING AND PRESERVING HOUSING, PROMOTING ECONOMIC DEVELOPMENT OPPORTUNITIES AND ENCOURAGING COMMUNITY LIFE.

Revisions to this organization profile

November 14, 2024:
2023 Promise Development Corporation 990 filed
November 14, 2023:
2022 Promise Development Corporation 990 filed
November 10, 2022:
2021 Promise Development Corporation 990 filed

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