The Prosperity Foundation Inc

Analysis

The Prosperity Foundation Inc is a registered charity in United States, based in New Haven, CT. It received its IRS tax-exemption ruling in September 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Prosperity Foundation Inc reported income of $2.0m and spending of $2.0m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $158k to $2.0m (+1137%), an average of +88% a year. The sharpest change came in the year to December 2021, when income rose by 157%. Over the whole period it spent 70% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Prosperity Foundation Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 84th percentile within CT. Charities of a similar size with the same main cause include Rethinkx Inc ($2.0m), Downtown Baltimore Child Care Inc ($2.0m) and Oaks of Hebron Incorporated ($2.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $100k (5.0% of expenses). Other salaries and wages came to $24k. At year end it held assets of $4.0m against liabilities of $1.9m, net assets of $2.1m. It reported 4 employees.