Prospectus Associates Inc

Analysis

Prospectus Associates Inc is a registered charity in United States, based in Reading, PA. It received its IRS tax-exemption ruling in March 1983, 43 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Prospectus Associates Inc reported income of $18.9m and spending of $18.2m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $20.0m to $18.9m (-5.4%), an average of -1.4% a year. The sharpest change came in the year to June 2022, when income rose by 18%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Prospectus Associates Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within PA. Charities of a similar size with the same main cause include Food Finders Food Bank Inc ($18.9m), Mountain Empire Older Citizens Inc ($18.9m) and Cottage Grove Place ($18.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 7.1% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $500k (2.7% of expenses). Other salaries and wages came to $10.4m. At year end it held assets of $19.6m against liabilities of $4.0m, net assets of $15.6m. It reported 329 employees.