Prosperity Works

Analysis

Prosperity Works is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in February 2000, 26 years ago. Its declared purposes cover mutual and membership benefit, which this site groups under other charitable purposes. 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 September 2023, Prosperity Works reported income of $662k and spending of $804k, spending 121% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $1.0m to $662k (-35%), an average of -10% a year. The sharpest change came in the year to September 2021, when income dropped by 55%. Over the whole period it spent 112% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Prosperity Works sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 73rd percentile within NM. Charities of a similar size with the same main cause include Heartwing Center Inc ($662k), Estate of Frank S Carroll ($662k) and First Presbyterian Child Care Inc ($662k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 59% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $181k (23% of expenses). Other salaries and wages came to $182k. At year end it held assets of $1.9m against liabilities of $1.4m, net assets of $530k. It reported 6 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.