Prosperity Lab

Analysis

Prosperity Lab is a registered charity in United States, based in San Jose, CA. It received its IRS tax-exemption ruling in June 2020, 6 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Prosperity Lab reported income of $760k and spending of $551k, leaving 27% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $293k to $760k (+159%), an average of +61% a year. The sharpest change came in the year to December 2022, when income rose by 119%. Over the whole period it spent 76% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Prosperity Lab sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 77th percentile within CA. Charities of a similar size with the same main cause include Ideas in Action Inc ($760k), Community Engagement and Opportunity Council ($760k) and Watertown Local Development Corporation ($760k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 3.9% of the total. Compensation of current officers, directors and key employees was $101k (18% of expenses). Other salaries and wages came to $89k. At year end it held assets of $0 against liabilities of $0, net assets of $0. It reported 3 employees.