Prospect Foundation Inc

Analysis

Prospect Foundation Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in April 2009, 17 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Prospect Foundation Inc reported income of $75k and spending of $54k, leaving 28% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income fell from $219k to $75k (-66%), an average of -41% a year. The sharpest change came in the year to December 2022, when income dropped by 69%. Over the whole period it spent 46% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Prospect Foundation Inc sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 28th percentile within KY. Charities of a similar size with the same main cause include Lambertville Historical Society ($75k), San Gabriel Valley Music Theatre ($75k) and Wickham Works Inc ($75k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 61% of the total. At year end it held assets of $200k against liabilities of $0, net assets of $200k.