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New Haven Promise Inc

EIN 81-1267064 · New Haven, CT

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood71 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

New Haven Promise works to build a culture in the public schools in which students aspire to attend and graduate from college; to provide financial incentives and support for those students; and to facilitate their return to live, work and serve in the greater New Haven community.

Income
$6.2 million
Spending
$5.8 million
Spent on programs
94%
Reserves
2.6 months of spending
Largest source of income
donations and private grants, 96%
Employees
9
Volunteers
50
Highest pay
$243,130, president

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 71 out of 100. Higher than 47% of charities in its peer group (human services, $1m to $10m).

  • Reserves

    10 of 35

    Spendable reserves would cover 2.6 months of spending.

  • Debt

    16 of 20

    It owes 16% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 6% of income.

  • Income trend

    15 of 15

    Income rose 18% on the year before.

  • Spending floor

    15 of 15

    94% of spending went to programs and raising each dollar of donations cost 2 cents.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 65% of charities in its peer group (human services, $1m to $10m).

  • Independent board

    25 of 25

    7 of 7 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (3)
  1. $293,865 spent. "TO" - College Access: New Haven Promise fosters a college-going culture among New Haven public school students and motivates students to gain admission to college; informed and educated K-12 students and parents to complete the pledge and senior application of Promise; recruited and served students for summer enrichment programs; connected students with New Haven nonprofit organizations to complete the required community service hours and managed the service tracking system - SERVO.CITY; managed the comprehensive financial literacy campaign through FAFSACT.ORG platform; recruited volunteers to help college-bound students understand college cost, aid packages and admission process etc.
  2. $4.9 million spent. "THROUGH" - College Success: New Haven Promise motivates scholars to graduate from college within four years by providing renewable scholarships, promoting FAFSA completion, leveraging guaranteed institutional aid, recruiting peer leaders and mentors at campuses, and partnering with colleges to ensure full support of Promise scholars. Hosted internship and career fairs and placed scholars in paid internships in their fields of interest; hosted professional and leadership development workshop series; built and managed scholar resume bank.
  3. $351,997 spent. "BACK NEW HAVEN" - Career and Civic Launch: meets the city and regional needs for a diverse homegrown talent pipeline that strengthens neighborhoods and creates career and leadership opportunities for more than a thousand returned Promise Alumni. New Haven Promise facilitates scholars' return to live, work and participate fully in the greater New Haven community. Hosted job fairs and brokered entry-level full-time job oppurtunities for Promise alumni; hosted professional and leadership development workshop series; tracked alumni to live and work in the greater New Haven region after graduation; hosted financial wealth education and homebuyer seminars to discuss wealth building in 20s; connected alumni with mortgage experts, realtors and their peer alumni who have already become homeowners; served Yale Teaching Fellowship, a program that aims to train high-quality teachers from a variety of backgrounds and experiences, cover teacher shortage areas, and promote long-term teacher retention in New Haven Public Schools.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending June 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since May 2016.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.