Prospect Foundation Inc
- Assets
- $2.8m
- Revenue
- $268.7k
- Investments
- $2.4m
- Employees
- 0
- Location
- West Lafayette, IN
- Founding
- 04/2015
- Data as of
- 11/2023
- EIN
- 47-2627091
Organization Overview
Prospect Foundation Inc is located in West Lafayette, IN. The organization was established in 2015. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prospect Foundation 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 11/2023, Prospect Foundation Inc generated $268.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (9.8%) each year. All expenses for the organization totaled $132.5k during the year ending 11/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Prospect Foundation Inc has awarded 21 individual grants totaling $154,500. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Qin Yang CEO | 2 | $0 | |
Cheng Du CFO | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $300,000 |
| Interest on Savings | $2,322 |
| Dividends & Interest | $25,030 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$58,924 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $300 |
| Total Revenue | $268,728 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,922 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $22,949 |
| Total operating and administrative expenses | $83,509 |
| Contributions, gifts, grants paid | $49,000 |
| Total expenses and disbursements | $132,509 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $191,223 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $203,928 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,843,775 |
| Accounts payable and accrued expenses | $186,898 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $186,898 |
Grants Awarded
Over the last fiscal year, Prospect Foundation Inc has awarded $49,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
INDIANA UNIVERSITY PURPOSE: EDUCATIONAL | $11,000 |
KRONOS QUARTET KRONOS PERFORMING ARTS ASSOCIATION IN CALIFORNIA PURPOSE: CHARITABLE | $10,000 |
STUART COUNTRY DAY SCHOOL IN NEW JERSEY PURPOSE: EDUCATIONAL | $12,000 |
EMORY UNIVERSITY PURPOSE: EDUCATIONAL | $10,000 |
NEW YORK MEDICAL COLLEGE PURPOSE: EDUCATIONAL | $5,000 |
LOGANSPORT MEDICAL HOSPITAL FOUNDATION PURPOSE: CHARITABLE | $1,000 |