Prosper Education Foundation
- Assets
- $2.7m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 4
- Location
- Prosper, TX
- Founding
- 03/1997
- Data as of
- 06/2023
- EIN
- 75-2662259
Organization Overview
Prosper Education Foundation is located in Prosper, TX. The organization was established in 1997. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2023, Prosper Education Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prosper Education Foundation 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 06/2023, Prosper Education Foundation generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 25.6% each year . All expenses for the organization totaled $1.2m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO FUND THE GROWTH, DEVELOPMENT AND SUPPORT OF ALL PROSPER ISD STUDENTS, FACULTY, AND PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AWARDED 323,990 IN SCHOLARSHIPS TO GRADUATING SENIORS
AWARDED 360,538 TO PROSPER ISD FOR PROGRAM SUPPORT, LEADERSHIP RETREAT, GRADUATING SENIORS AFTER-GRADUATION EVENT, TRAINING, AND PROFESSIONAL DEVELOPMENT.
AWARDED 275,761 IN TEACHER AWARDS AND SUPPLIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stacy Cate President | Officer | $0 | |
Roby Bledsoe Secretary | Officer | $0 | |
Megan Brandon VP Programs | Officer | $0 | |
Josh Brown VP Finance | Officer | $0 | |
Kenyetta Pettaway VP Events | Officer | $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 | $1,308,734 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,308,734 |
| Total Program Service Revenue | $0 |
| Investment income | -$7,127 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $136,380 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,437,987 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $382,791 |
| Grants and other assistance to domestic individuals. | $599,751 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $130,675 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,255 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,663 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $13,599 |
| Advertising and promotion | $7,592 |
| Office expenses | $8,532 |
| Information technology | $9,732 |
| Royalties | $0 |
| Occupancy | $19,987 |
| Travel | $3,521 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,049 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,178 |
| All other expenses | $3,466 |
| Total functional expenses | $1,219,791 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $118,205 |
| Savings and temporary cash investments | $1,626,099 |
| 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 | $913,238 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,657,542 |
| Accounts payable and accrued expenses | $3,554 |
| 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 | $3,554 |
| Net assets without donor restrictions | $2,113,447 |
| Net assets with donor restrictions | $540,541 |
| 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 | $2,657,542 |
Grants Awarded
Over the last fiscal year, Prosper Education Foundation has awarded $20,267 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
PROJECT GRADUATION | | | $5,267 |
PROSPER ISD | | | $15,000 |