Prosperity House Inc

Analysis

Prosperity House Inc is a registered charity in United States, based in New Haven, CT. It received its IRS tax-exemption ruling in July 2015, 11 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, Prosperity House Inc reported income of $378k and spending of $331k, spending 87% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $205k to $378k (+84%), an average of +36% a year. The sharpest change came in the year to December 2022, when income rose by 42%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Prosperity House Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 63rd percentile within CT. Charities of a similar size with the same main cause include Getting to We ($378k), Senior Center of Elk Grove ($378k) and Renewed Life Christian Counseling Center Inc ($378k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $55k (17% of expenses). At year end it held assets of $99k against liabilities of $35k, net assets of $64k. It reported 2 employees.