Prosperity Unlimited Inc

Analysis

Prosperity Unlimited Inc is a registered charity in United States, based in Kannapolis, NC. It received its IRS tax-exemption ruling in August 1994, 32 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 Unlimited Inc reported income of $583k and spending of $452k, leaving 22% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $940k to $583k (-38%), an average of -11% a year. The sharpest change came in the year to December 2021, when income dropped by 35%. Over the whole period it spent 69% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Prosperity Unlimited Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 72nd percentile within NC. Charities of a similar size with the same main cause include Luthern Social Services of Central Ohio Lancaster Housing Inc ($583k), September Place Retirement Village Inc ($583k) and Opportunity Neighborhood ($583k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 42% and program service revenue 50% of the total. Compensation of current officers, directors and key employees was $106k (23% of expenses). Other salaries and wages came to $140k. At year end it held assets of $3.5m against liabilities of $2,403, net assets of $3.5m. It reported 11 employees.