Prism Economic Development Corporation

Analysis

Prism Economic Development Corporation is a registered charity in United States, based in Milwaukee, WI. It received its IRS tax-exemption ruling in September 2017, 9 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Prism Economic Development Corporation reported income of $806k and spending of $1.1m, spending 140% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $304k to $806k (+166%), an average of +28% a year. The sharpest change came in the year to December 2021, when income rose by 133%. Over the whole period it spent 89% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Prism Economic Development Corporation sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 77th percentile within WI. Charities of a similar size with the same main cause include Wise Protective Service and More Inc ($806k), The Lighthouse-Advocacy Prevention and Education Center ($806k) and Family Freedom Center ($806k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 40% and program service revenue 57% of the total. Compensation of current officers, directors and key employees was $79k (7.0% of expenses). Other salaries and wages came to $81k. At year end it held assets of $745k against liabilities of $80k, net assets of $665k. It reported 4 employees.