American Prospect Inc

Analysis

American Prospect Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in May 1989, 37 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 June 2023, American Prospect Inc reported income of $1.5m and spending of $1.8m, spending 117% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.3m to $1.5m (+21%), an average of +6.5% a year. The sharpest change came in the year to June 2021, when income rose by 42%. Over the whole period it spent 101% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, American Prospect Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 62nd percentile within DC. Charities of a similar size with the same main cause include Port Gamble Sklallam Foundation ($1.5m), Appalachian Artisan Center of Kentucky Inc ($1.5m) and Illuminate the Arts ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 76% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $413k (23% of expenses). Other salaries and wages came to $689k. At year end it held assets of $314k against liabilities of $109k, net assets of $205k. It reported 15 employees.