Prosperity Denver Fund
- Assets
- $41.5m
- Revenue
- $18.3m
- Investments
- $23.4m
- Employees
- 2
- Location
- Denver, CO
- Founding
- Data as of
- 09/2023
- EIN
- 84-2091903
Organization Overview
Prosperity Denver Fund is located in Denver, CO. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 09/2023, Prosperity Denver Fund employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prosperity Denver Fund 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 09/2023, Prosperity Denver Fund generated $18.3m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 19.9% each year . All expenses for the organization totaled $8.9m during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Prosperity Denver Fund has awarded 64 individual grants totaling $18,491,656. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
EXPAND ACCESS TO POST HIGH SCHOOL EDUCATION FOR DENVER RESIDENTS AND INCREASE THEIR EDUCATION COMPLETION RATE. THIS INVESTMENT IN DENVER RESIDENTS WILL ENHANCE THEIR ECONOMIC SECURITY AND MOBILITY, AND STRENGTHEN DENVERS WORKFORCE AND ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2023, PROSPERITY DENVER FUND CONDUCTED ITS FIFTH ROUND OF REIMBURSEMENTS TO 27 SUPPORTED ORGANIZATIONS TOTALING MORE THAN $8 MILLION, COVERING MORE THAN 1,800 SCHOLARS. WE CONTINUE TO WORK CLOSELY WITH STAKEHOLDERS TO DEVELOP AND IMPLEMENT STRATEGIES TO INCREASE THE AMOUNT OF FUNDS DISTRIBUTED AND SCHOLARS SERVED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matt Jordan CEO | Officer | 40 | $177,019 |
Christopher Herndon Board Member | Trustee | 2 | $0 |
John H Kechriotis Board Member | Trustee | 2 | $0 |
Danielle Shoots Board Member | Trustee | 2 | $0 |
Angela Cobian Secretary And Board Member | OfficerTrustee | 3 | $0 |
Stephen Kurtz Board Chair | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $17,039,425 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,039,425 |
| Total Program Service Revenue | $0 |
| Investment income | $1,293,288 |
| 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 | $18,332,713 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,036,518 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $289,215 |
| Pension plan accruals and contributions | $19,023 |
| Other employee benefits | $0 |
| Payroll taxes | $21,182 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $30,010 |
| Fees for services: Accounting | $40,040 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $330,655 |
| Advertising and promotion | $0 |
| Office expenses | $211 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,175 |
| Interest | $40 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $759 |
| Insurance | $27,175 |
| All other expenses | $53,403 |
| Total functional expenses | $8,860,341 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $718,017 |
| Savings and temporary cash investments | $17,350,266 |
| 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 | $15,522 |
| Net Land, buildings, and equipment | $1,409 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $23,396,995 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $41,482,209 |
| Accounts payable and accrued expenses | $33,815 |
| Grants payable | $8,045,675 |
| 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 | $12,117 |
| Total liabilities | $8,091,607 |
| Net assets without donor restrictions | $33,390,602 |
| 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 | $41,482,209 |
Grants Awarded
Over the last fiscal year, Prosperity Denver Fund has awarded $8,036,390 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
ACCESS OPPORTUNITY PURPOSE: TO REIMBURSE FOR SCHOLARSHIPS | $17,820 |
CHERRY HILLS PALMER SCHOLARSHIP FOU PURPOSE: TO REIMBURSE FOR SCHOLARSHIPS | $10,875 |
EAST ANGEL FRIENDS & ALUMNI SCHOLAR PURPOSE: TO REIMBURSE FOR SCHOLARSHIPS | $7,500 |
COLORADO UPLIFT PURPOSE: TO REIMBURSE FOR SCHOLARSHIPS | $29,837 |
DENVER SCHOLARSHIP FOUNDATION PURPOSE: TO REIMBURSE FOR SCHOLARSHIPS | $6,812,064 |
EVANS SCHOLARS FOUNDATION PURPOSE: TO REIMBURSE FOR SCHOLARSHIPS | $74,013 |