Prosperity Unlimited Inc
- Assets
- $3.3m
- Revenue
- $512.7k
- Investments
- $207.8k
- Employees
- 12
- Location
- Kannapolis, NC
- Founding
- 08/1994
- Data as of
- 12/2021
- EIN
- 58-2108838
Organization Overview
Prosperity Unlimited Inc is located in Kannapolis, NC. The organization was established in 1994. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Prosperity Unlimited Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prosperity Unlimited 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 Unlimited Inc generated $512.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.1%) each year. All expenses for the organization totaled $482.1k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.0%) per year over the past 7 years. 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
TO DEVELOP AND EMPOWER COMMUNITIES THROUGH SOCIAL AND ECONOMIC DEVELOPMENT WHICH INCLUDES IMPROVING HOUSING, JOBS, CULTURE, AND EDUCATION FOR LOW WEALTH CITIZENS WITHIN CABARRUS COUNTY AND SURROUNDING COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION ASSISTS INDIVIDUALS IN ACQUIRING AND/OR MAINTAINING HOUSING THROUGH FINANCIAL COUNSELING & TRAINING IN AREAS SUCH AS FINANCAIL LITERACY AND COUNSELING IN PREPURCHASE AND FORECLOSURE COUNSELING.
THE ORGANIZATION DEVELOPS AND MAINTAIN AFFORDABLE HOUSING UNITS FOR LOW TO MODERATE INDIVIDUALS FOR RENTAL AND/OR PURCHASE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Louise Mack CEO | Officer | 60 | $90,132 |
Annise Johnson Treasurer | OfficerTrustee | 2 | $0 |
Joy Ellingston Secretary | OfficerTrustee | 0.5 | $0 |
Kim Middlebrooks Vice Chair | OfficerTrustee | 0.5 | $0 |
Octavia Alexander Chair | OfficerTrustee | 1 | $0 |
Tim Dietrich Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $104,367 |
| All other contributions, gifts, grants, and similar amounts not included above | $54,517 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $158,884 |
| Total Program Service Revenue | $347,222 |
| Investment income | $6,102 |
| 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 | $512,735 |
| 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 | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $105,158 |
| Compensation of current officers, directors, key employees. | $9,464 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $167,513 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $76,418 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,133 |
| Advertising and promotion | $0 |
| Office expenses | $6,663 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,062 |
| Travel | $248 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,507 |
| Insurance | $18,155 |
| All other expenses | $14,099 |
| Total functional expenses | $482,143 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $437,388 |
| Savings and temporary cash investments | $1,370,433 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $839 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $882,005 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $389,151 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $207,846 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,287,662 |
| Accounts payable and accrued expenses | $780 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $780 |
| Net assets without donor restrictions | $3,286,882 |
| Net assets with donor restrictions | $0 |
| 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 | $3,287,662 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Prosperity Unlimited Inc has recieved totaling $108,549.
| Awarding Organization | Amount |
|---|---|
North Carolina Housing Coalition Inc Durham, NC | | $108,549 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Presbyterian College Clinton, SC | $178,788,042 | $82,344,801 |
Community Housing Partners Corporation Christiansburg, VA | $210,530,324 | $87,907,515 |
Skill Creations Inc Goldsboro, NC | $13,834,048 | $44,435,808 |
Habitat For Humanity International Inc Raleigh, NC | $48,704,094 | $32,190,331 |
Montage Living Charlotte, NC | $133,680,991 | $23,940,845 |
Ahc Inc Arlington, VA | $252,147,992 | $33,394,070 |
Habitat For Humanity International Inc Charlotte, NC | $71,967,554 | $27,686,341 |
Habitat For Humanity In Atlanta Inc Atlanta, GA | $81,551,003 | $20,263,546 |
Big Canoe Property Owners Association Inc And Subsidiary Big Canoe, GA | $48,180,026 | $19,159,834 |
Shelter House Inc Reston, VA | $6,743,159 | $14,877,410 |
Alexandria Housing Development Corporation Alexandria, VA | $129,711,642 | $8,689,601 |
Habitat For Humanity Of Greater Nashville Nashville, TN | $71,491,096 | $16,513,254 |