Prospect Business Association

Analysis

Prospect Business Association is a registered charity in United States, based in Kansas City, MO. It received its IRS tax-exemption ruling in October 2018, 8 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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 2022, Prospect Business Association reported income of $198k and spending of $423k, spending 213% of what it took in. Across the 2 years on record, from December 2021 to December 2022, income fell from $744k to $198k (-73%), an average of -73% a year. The sharpest change came in the year to December 2022, when income dropped by 73%. Over the whole period it spent 75% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Prospect Business Association sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 51st percentile within MO. Charities of a similar size with the same main cause include Meals on Wheels in Metuchen-Edison-Woodbridge ($198k), Elizabeth F Brigham Trust Uw Richard a Spindler TR ($198k) and Ngoc-Son Tinh-Xa Association Inc ($198k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $110k (26% of expenses). Other salaries and wages came to $108k. At year end it held assets of $342k against liabilities of $0, net assets of $342k. It reported 3 employees.