Prospect Congregate Housing Inc

Analysis

Prospect Congregate Housing Inc is a registered charity in United States, based in Milwaukee, WI. It received its IRS tax-exemption ruling in October 1991, 35 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, Prospect Congregate Housing Inc reported income of $5.0m and spending of $7.0m, spending 141% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.4m to $5.0m (+14%), an average of +3.4% a year. The sharpest change came in the year to June 2023, when income rose by 19%. Over the whole period it spent 124% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Prospect Congregate Housing Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within WI. Charities of a similar size with the same main cause include Lott Industries Inc ($5.0m), Florida Independence Training & Education Center Inc ($5.0m) and Children at Heart Ministries ($5.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 11% and program service revenue 82% of the total. Other salaries and wages came to $1.8m. At year end it held assets of $9.5m against liabilities of $16.6m, net assets of -$7.2m. It reported 77 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.