Prosperity Now

Analysis

Prosperity Now is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in January 1980, 46 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 Now reported income of $20.4m and spending of $25.1m, spending 123% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $13.4m to $20.4m (+53%), an average of +11% a year. The sharpest change came in the year to December 2021, when income rose by 124%. Over the whole period it spent 107% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Prosperity Now sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 93rd percentile within DC. Charities of a similar size with the same main cause include Toolworks ($20.4m), Chautauqua Opportunities Inc ($20.4m) and Goodwill Industries of South Central California ($20.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 0.6% of the total. Compensation of current officers, directors and key employees was $998k (4.0% of expenses). Other salaries and wages came to $9.0m. It paid $507k in professional fundraising fees. At year end it held assets of $24.9m against liabilities of $13.6m, net assets of $11.3m. It reported 88 employees.