Prospect Meadows Inc

Analysis

Prospect Meadows Inc is a registered charity in United States, based in Marion, IA. It received its IRS tax-exemption ruling in August 2011, 15 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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 Meadows Inc reported income of $2.0m and spending of $2.5m, spending 124% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.2m to $2.0m (-8.2%), an average of -2.1% a year. The sharpest change came in the year to December 2022, when income rose by 155%. Over the whole period it spent 102% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Prospect Meadows Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 88th percentile within IA. Charities of a similar size with the same main cause include Las Vegas Sports Initiative ($2.0m), Community Skating Inc ($2.0m) and Washington County Fair Inc ($2.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 44% and program service revenue 56% of the total. Compensation of current officers, directors and key employees was $80k (3.1% of expenses). Other salaries and wages came to $304k. At year end it held assets of $12.6m against liabilities of $5.3m, net assets of $7.3m. It reported 40 employees.