The Prosperity Foundation Inc
- Assets
- $1.4m
- Revenue
- $846.6k
- Investments
- $0.0
- Employees
- 2
- Location
- New Haven, CT
- Founding
- 09/2015
- Data as of
- 12/2021
- EIN
- 47-4364468
Organization Overview
The Prosperity Foundation Inc is located in New Haven, CT. The organization was established in 2015. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2021, Prosperity Foundation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prosperity 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 12/2021, Prosperity Foundation Inc generated $846.6k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 22.8% each year . All expenses for the organization totaled $753.6k during the year ending 12/2021. While expenses have increased by 26.0% 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
PURSUE CHARITABLE AND EDUCATIONAL ACTIVITIES TO STRENGTHEN CONNECTICUT'S AFRICAN- AMERICAN/BLACK COMMUNITIES IN AREAS SUCH AS ECONOMIC DEVELOPMENT, EDUCATION, AND HEALTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION AWARDED 34 GRANTS TO VARIOUS ORGANIZATIONS CONDUCTING EDUCATIONAL TRAINING IN STEM PROGRAMS, ETC
HEALTH AWARDED 15 GRANTS TO VARIOUS ORGANIZATIONS CONDUCTING HEALTH SCREENINGS, EDUCATIONAL, AND INSTRUCTIONAL PROGRAMS
ECONOMIC DEVELOPMENT AWARDED 11 GRANT TO AN ORGANIZATION IN THE AFRICAN/AMERICAN COMMUNITY SERVING HARTFORD/NEW HAVEN/FAIRFIELD COUNTY REGIONS
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Orsella Hughes Executive Dir. | Officer | 3 | $88,461 |
Larry Conaway Vice President | OfficerTrustee | 3 | $0 |
Howard K Hill President | OfficerTrustee | 5 | $0 |
Cathy Graves Secretary | OfficerTrustee | 1 | $0 |
Brian H Cook Treasurer | OfficerTrustee | 3 | $0 |
Valarie Shultz-Wilson Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $846,553 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $846,553 |
| Total Program Service Revenue | $0 |
| Investment income | $27 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $846,580 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $232,982 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $88,461 |
| Compensation of current officers, directors, key employees. | $88,461 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $22,500 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,473 |
| Fees for services: Management | $21,155 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,830 |
| Office expenses | $7,663 |
| Information technology | $37,469 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $8 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,299 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,621 |
| All other expenses | $0 |
| Total functional expenses | $753,625 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $46,688 |
| Savings and temporary cash investments | $90,272 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,221,688 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,358,648 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $733,332 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $733,332 |
| Net assets without donor restrictions | -$686,644 |
| Net assets with donor restrictions | $1,311,960 |
| 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 | $1,358,648 |
Grants Recieved
Over the last fiscal year, we have identified 18 grants that The Prosperity Foundation Inc has recieved totaling $1,196,781.
| Awarding Organization | Amount |
|---|---|
Hartford Foundation For Public Giving Hartford, CT PURPOSE: COMMUNITY AND ECONOMIC DEVELOPMENT | $500,000 |
Hartford Foundation For Public Giving Hartford, CT PURPOSE: COMMUNITY AND ECONOMIC DEVELOPMENT | $231,497 |
Hartford Foundation For Public Giving Hartford, CT PURPOSE: COMMUNITY AND ECONOMIC DEVELOPMENT | $121,125 |
William Caspar Graustein Memorial Fund Hamden, CT PURPOSE: BLACK COMMUNITY GRANT GIVE | $55,000 |
Hartford Foundation For Public Giving Hartford, CT PURPOSE: COMMUNITY AND ECONOMIC DEVELOPMENT | $50,531 |
Hartford Foundation For Public Giving Hartford, CT PURPOSE: COMMUNITY AND ECONOMIC DEVELOPMENT | $49,493 |
Endowment Analysis
| Beg. Balance | $271,555 |
| Earnings | $33,199 |
| Admin Expense | $7,560 |
| Net Contributions | $941,345 |
| Other Expense | $2,351 |
| Grants | $14,500 |
| Ending Balance | $1,221,688 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
South Middlesex Opportunity Council Inc Framingham, MA | $58,219,671 | $100,623,342 |
Bronxworks Inc Bronx, NY | $54,602,777 | $94,783,683 |
Sheltering Arms Children And Family Services Inc New York, NY | $61,235,788 | $88,686,017 |
North Shore Community Services Inc Westbury, NY | $256,637,537 | $86,285,675 |
Catholic Charities Of The Diocese Of Rochester Rochester, NY | $80,143,075 | $94,807,036 |
Community Assistance Resources & Extended Services Inc New York, NY | $66,076,171 | $123,796,849 |
Jewish Child Care Association Of New York Brooklyn, NY | $129,020,546 | $88,573,003 |
Urban Resource Institute New York, NY | $63,202,447 | $74,244,658 |
Mount Sinai Health System Executive V P For Finance New York, NY | $0 | $70,946,441 |
Birch Family Services Inc New York, NY | $68,113,610 | $78,917,553 |
Catholic Charities Of The Roman Catholic Diocese Of Syracuse Ny Syracuse, NY | $64,792,131 | $74,096,320 |
Mary Haven Center Of Hope Port Jefferson, NY | $26,765,963 | $57,662,471 |