Bright Prospect

Analysis

Bright Prospect is a registered charity in United States, based in Pomona, CA. It received its IRS tax-exemption ruling in May 2002, 24 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2024, Bright Prospect reported income of $1.8m and spending of $1.9m, spending 108% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income fell from $2.5m to $1.8m (-29%), an average of -8.4% a year. The sharpest change came in the year to June 2024, when income dropped by 36%. Over the whole period it spent 87% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Bright Prospect sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within CA. Charities of a similar size with the same main cause include Converse Child Care Center ($1.8m), Clarke Pennsylvania Inc ($1.8m) and Dunes Christian Educators Inc ($1.8m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $290k (15% of expenses). Other salaries and wages came to $708k. At year end it held assets of $3.7m against liabilities of $164k, net assets of $3.6m. It reported 47 employees.