Prodigy Ventures Inc

Analysis

Prodigy Ventures Inc is a registered charity in United States, based in Denver, CO. It received its IRS tax-exemption ruling in May 2015, 11 years ago. Its declared purposes cover employment, 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, Prodigy Ventures Inc reported income of $1.3m and spending of $1.8m, spending 139% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $750k to $1.3m (+68%), an average of +14% a year. The sharpest change came in the year to December 2021, when income rose by 60%. Over the whole period it spent 87% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Prodigy Ventures Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within CO. Charities of a similar size with the same main cause include Family Matters Inc ($1.3m), Oakland Chinatown Improvement Council ($1.3m) and 640 Improvement Corporation ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 74% and program service revenue 0.2% of the total. Compensation of current officers, directors and key employees was $83k (4.7% of expenses). Other salaries and wages came to $901k. At year end it held assets of $1.6m against liabilities of $560k, net assets of $1.1m. It reported 58 employees.