Prosperity Catalyst Inc
- Assets
- $348.6k
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 6
- Location
- Beverly, MA
- Founding
- 04/2011
- Data as of
- 09/2021
- EIN
- 27-2911776
Organization Overview
Prosperity Catalyst Inc is located in Beverly, MA. The organization was established in 2011. According to its NTEE Classification (Q33) the organization is classified as: International Relief, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 09/2021, Prosperity Catalyst Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prosperity Catalyst Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2021, Prosperity Catalyst Inc generated $1.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $1.6m during the year ending 09/2021. While expenses have increased by 8.1% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROSPERITY CATALYST DEVELOPS AND STRENGTHENS WOMEN-LED BUSINESS IN DISTRESSED REGIONS, PROVIDING BUSINESS AND TECHNICAL TRAINING, CREATING OPPORTUNITIES FOR WOMEN TO ACHIEVE ECONOMIC AND SOCIAL EMPOWERMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2013, NOT LONG AFTER THE EARTHQUAKE, PCAT STARTED WORKING IN HAITI, BY PROVIDING BUSINESS MANAGEMENT TRAINING TO 100 WOMEN IN CAP-HAITIAN AND LAUNCHING A WOMEN-LED CANDLE PRODUCTION AND EXPORT COMPANY CALLED FANM LIMYE (WOMEN ILLUMINATED), A FOR-PROFIT BUSINESS, WHICH IS 97% OWNED BY PROSPERITY CATALYST WITH EACH OF THE REMAINING SHARES OWNED BY TWO PCAT BOARD MEMBERS AND THE CURRENT EXECUTIVE DIRECTOR. FANM LIMYE IS ALSO REGISTERED IN HAITI AS A LOCAL NONPROFIT. IN JANUARY 2015, PCAT MOVED THE OPERATION TO PORT-AU-PRINCE (PAP), WHERE THERE WOULD BE EASIER AND CHEAPER ACCESS TO SUPPLIES AND TO BOTH LOCAL AND EXPORT MARKETS.THE GROUP OF WOMEN TRAINED IN CANDLE-MAKING IN PAP FOUND THAT THEIR PRODUCTION WAS HAMPERED BY HIGH QUALITY BEESWAX, SO PCAT DECIDED TO WORK WITH LOCAL BEEKEEPERS STARTING IN 2016. TO DATE, WE HAVE TRAINED 1,108 BEEKEEPERS, 62% WOMEN IN 5 COMMUNES OF THE WEST DEPARTMENT AND 3 COMMUNES OF NIPPES DEPARTMENT.
OUR WORK IN IRAQ HAS A SPECIAL EMPHASIS ON SUPPORTING AND PROVIDING ECONOMIC OPPORTUNITIES FOR FEMALE HEADS OF HOUSEHOLD, WAR WIDOWS, INTERNALLY DISPLACED PERSONS (IDPS), AND OTHER VULNERABLE WOMEN. IN 2013, PROSPERITY CATALYST LAUNCHED AN INNOVATIVE AND MARKET-DRIVEN MODEL IN BAGHDAD, IRAQ, WITH THE GOAL OF CREATING ECONOMIC OPPORTUNITY FOR HUNDREDS OF IRAQI WOMEN. WE HAVE SUPPORTED OPERATIONS IN ERBIL, DOHUK, MOSUL, BAGHDAD, DHI QAR, MUTHANA, AND HILLA. TO DATE, WE HAVE PROVIDED TECHNICAL TRAINING TO 1,695 IRAQI ARTISANS, 93% WOMEN; PROVIDED BUSINESS FEASIBILITY AND PLANNING TRAINING TO 909 ARTISANS, 92% WOMEN; AND PROVIDED BUSINESS EXPANSION OR START-UP KITS TO 142 ARTISAN BUSINESSES EMPLOYING 505 PEOPLE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Catherine Gibbons Executive Director | OfficerTrustee | 40 | $109,147 |
Anthony Rock Board Chair | OfficerTrustee | 4 | $0 |
Susan Hester Vice Board Chair | OfficerTrustee | 3 | $0 |
Mark Kripp Treasurer | OfficerTrustee | 2 | $0 |
Kate Wallace Secretary | OfficerTrustee | 1 | $0 |
Dena Enos Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,201,595 |
| All other contributions, gifts, grants, and similar amounts not included above | $208,700 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,410,295 |
| Total Program Service Revenue | $0 |
| Investment income | $35 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $78,090 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,488,420 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $176,898 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $114,101 |
| Compensation of current officers, directors, key employees. | $23,495 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $296,343 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $29,303 |
| Payroll taxes | $35,426 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,157 |
| Fees for services: Accounting | $79,794 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $373,674 |
| Advertising and promotion | $21,717 |
| Office expenses | $10,839 |
| Information technology | $935 |
| Royalties | $0 |
| Occupancy | $29,800 |
| Travel | $20,776 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,406 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,200 |
| Insurance | $13,007 |
| All other expenses | $0 |
| Total functional expenses | $1,576,496 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $194,418 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $50,493 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $84,606 |
| Prepaid expenses and deferred charges | $6,655 |
| Net Land, buildings, and equipment | $12,400 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $348,572 |
| Accounts payable and accrued expenses | $51,618 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $173,749 |
| Other liabilities | $0 |
| Total liabilities | $225,367 |
| Net assets without donor restrictions | $42,704 |
| Net assets with donor restrictions | $80,501 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $348,572 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Prosperity Catalyst Inc has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Hearthstone Charitable Foundation Moultonborough, NH PURPOSE: HUMANITARIAN | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Tov Vchesed Foundation Inc Monsey, NY | $610,324 | $14,594,457 |
Kolel Shomre Hachomos Of Jerusalem Inc Brooklyn, NY | $8,417,391 | $12,158,295 |
We Charity Williamsville, NY | $15,990,436 | $8,510,977 |
Grassroots International Inc Boston, MA | $13,759,969 | $12,517,391 |
Afsnc Inc New York, NY | $3,029,853 | $9,756,195 |
Alima Usa Inc New York, NY | $6,341,096 | $6,115,397 |
Metro World Child Foundation Inc Brooklyn, NY | $2,538,697 | $8,020,281 |
World Spiritual Awareness Forum Inc Roslyn Heights, NY | $803,724 | $7,990,339 |
Refugepoint Inc Boston, MA | $13,622,053 | $13,092,298 |
Albanian-American Development Foundation New York, NY | $216,065,025 | $9,264,607 |
Vsk Foundation Woodside, NY | $1,033,022 | $6,451,312 |
American Friends Of The Kiev Jewish Community Monsey, NY | $174,348 | $5,759,125 |