Why Not Prosper Inc

Analysis

Why Not Prosper Inc is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in March 2003, 23 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 December 2023, Why Not Prosper Inc reported income of $1.6m and spending of $1.6m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $317k to $1.6m (+405%), an average of +50% a year. The sharpest change came in the year to December 2021, when income rose by 89%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Why Not Prosper Inc sits at the 83rd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within PA. Charities of a similar size with the same main cause include Socrates Sculpture Park Inc ($1.6m), Pine Bluff Jefferson County Economic Opportunities Commission ($1.6m) and Dodge City Family YMCA ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 3.0% of the total. Compensation of current officers, directors and key employees was $370k (23% of expenses). At year end it held assets of $715k against liabilities of $646k, net assets of $69k. It reported 14 employees.