BRIGHT PROMISES FOUNDATION
Mission Statement
The mission of Bright Promises Foundation is to support, implement and expand programs that address the urgent, unmet needs of low-income and at-risk children and families, while also contributing to the creation of long-term solutions that increase equity and access to quality programs and services in the Greater Metropolitan Chicago Area. Through research and discussion with leading children’s experts, Bright Promises determines the most critical needs of Chicagoland children that are currently under-recognized and underfunded. Then, we carefully select leading community-based social service agencies and provide the necessary knowledge, experience, and financial support to implement and expand cutting-edge programs that are results-driven, sustainable, and improve the lives of children now and in the future. Last year we supported programs serving more than 10,000 children, 3,600 parents, and 1,300 service providers at 86 sites throughout Chicagoland.
Financial Overview — FY 2024
Compared with Peers
FY 2024| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
72.7% | 91.8% |
P10P90
|
Bottom quarter |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
21.9% | 6.3% |
P10P90
|
Bottom quarter |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
5.4% | 0.0% |
P10P90
|
Bottom quarter |
|
Fundraising efficiency
Fundraising expenses / gross fundraising income
· lower is better
|
351.7% | 5.5% |
P10P90
|
Bottom quarter |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
77.6 mo | 10.0 mo |
P10P90
|
Top quarter |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
2.9% | 0.4% |
P10P90
|
Below median |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
64.9% | 89.3% |
P10P90
|
Top quarter |
|
Revenue growth
Year over year revenue growth
|
-68.5% | 8.5% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
-8.7% | 7.5% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
-94.1% | 3.0% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2024 | $461K | $896K | $5.8M | 72.7% | 2 |
| 2023 | $1.5M | $981K | $6.1M | 70.7% | 2 |
| 2022 | $1.1M | $768K | $4.6M | 66.7% | 2 |
| 2021 | $676K | $767K | N/A | — | 1 |
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