Promise Development Corporation: Single Audit Reports and Findings
Promise Development Corporation filed 7 single audits between 2016 and 2022; the most recently observed auditor is FRAZEE IVY DAVIS, PLC (2022), and the 2022 report lists 0 findings. Data as of 2026-09-16.
Data as of Sep 16, 2026 · Source: Federal Audit Clearinghouse (public data)
Single audits by year
One row per audit year as the Federal Audit Clearinghouse accepted it. The auditor named is the one observed on that filing; Promise Development Corporation is recorded in MEMPHIS, Tennessee under EIN 311708526, and the Clearinghouse records it as a nonprofit.
| Audit year | Fiscal year end | Federal expended | Threshold applied | Auditor observed | Findings | MW / SD | FAC report |
|---|---|---|---|---|---|---|---|
| 2022 | 2022-12-31 | $2,859,917 | $750,000 | FRAZEE IVY DAVIS, PLC | 0 | — | 2022-12-GSAFAC-0000053736 |
| 2021 | 2021-12-31 | $1,474,217 | $750,000 | FRAZEE IVY DAVIS, PLC | 0 | — | 2021-12-CENSUS-0000239142 |
| 2020 | 2020-12-31 | $1,449,921 | $750,000 | FRAZEE IVY DAVIS, PLC | 0 | SD | 2020-12-CENSUS-0000239142 |
| 2019 | 2019-12-31 | $1,909,068 | $750,000 | FRAZEE IVY DAVIS, PLC | 0 | SD | 2019-12-CENSUS-0000239142 |
| 2018 | 2018-12-31 | $1,982,298 | $750,000 | SCOTT AND POHLMAN, PC | 0 | — | 2018-12-CENSUS-0000239142 |
| 2017 | 2017-12-31 | $2,004,875 | $750,000 | SCOTT AND POHLMAN, PC | 0 | — | 2017-12-CENSUS-0000239142 |
| 2016 | 2016-12-31 | $1,893,025 | $750,000 | SCOTT AND POHLMAN P.C. | 1 | SD | 2016-12-CENSUS-0000239142 |
Which federal programs did this organization report?
From the most recent accepted report. "Major" is the designation the auditor made under 2 CFR 200.518, not ours.
| ALN | Program | Expended | Major |
|---|---|---|---|
| 21.027 | CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS | $1,489,348 | Yes |
| 14.267 | CONTINUUM OF CARE PROGRAM | $531,134 | Yes |
| 14.267 | CONTINUUM OF CARE PROGRAM | $367,731 | Yes |
| 14.267 | CONTINUUM OF CARE PROGRAM | $347,910 | Yes |
| 14.267 | CONTINUUM OF CARE PROGRAM | $69,794 | Yes |
| 14.235 | SUPPORTIVE HOUSING PROGRAM | $54,000 | No |
What findings did the auditor report?
The reference and the requirement letter are the ones the auditor used. The finding text itself is not reproduced here; the FAC report linked above carries it in full.
The most recent report lists no finding.
Form 990 and IRS registration
Form 990 "accounting fees" (Part IX line 11c) cover all accounting services reported by the organization and are not the price of an audit engagement.
- Most recent return
- 990 for 2023-12
- Total revenue
- $3,499,542
- Total assets
- $7,218,735
- Accounting fees (Part IX line 11c)
- $2,550
- Paid preparer
- FRAZEE IVY DAVIS PLC
- IRS object id
- 202433199349302363
- NTEE code
- L25
- Exempt under
- 501(c)(3)
- Ruling year
- 2000
- BMF release
- 2026-09-17
Read next
- CPA firms that audit Tennessee nonprofits
- Tennessee single audit statistics
- Tennessee nonprofit audit requirements
How we computed this
Every row comes from the Federal Audit Clearinghouse record named beside it, one report per audit year, with a resubmission superseding the filing it replaces. The auditor is the one named on that filing — it is not a statement about who audits Promise Development Corporation now. Form 990 figures come from the IRS e-filed return named by its object id. This page exists because the organization filed at least two single audits, or one with a finding.
Cite this page
AuditRadar. “Promise Development Corporation Single Audits and Findings (TN).” https://getauditradar.com/single-audits/tn/promise-development-corporation-311708526/. Data as of 2026-09-16.