Prosperity Way Inc

Analysis

Prosperity Way Inc is a registered charity in United States, based in Beverly Hills, CA. It received its IRS tax-exemption ruling in July 2015, 11 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Prosperity Way Inc reported income of $185k and spending of $138k, leaving 26% of income unspent that year. Across the 3 years on record, from June 2021 to June 2023, income grew from $163k to $185k (+13%), an average of +6.5% a year. The sharpest change came in the year to June 2023, when income rose by 87%. Over the whole period it spent 100% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Prosperity Way Inc sits at the 36th percentile: it is larger than about 36% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 54th percentile within CA. Charities of a similar size with the same main cause include Marie Adelaide Center Inc ($185k), Cleveland Supported Housing Inc ($185k) and All Borough Solutions Inc ($185k).

On its Form 990-EZ for the period ending June 2023, revenue came from program service revenue 85% of the total. At year end it held assets of $30k against liabilities of $9,690, net assets of $20k.