Prosper Foundation

Analysis

Prosper Foundation is a registered charity in United States, based in Birmingham, AL. It received its IRS tax-exemption ruling in October 2024, 2 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Prosper Foundation reported income of $5.5m and spending of $4.0m, leaving 27% of income unspent that year. Over the whole period it spent 73% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Prosper Foundation sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 95th percentile within AL. Charities of a similar size with the same main cause include Network of Victim Assistance ($5.5m), Pa Connecting Communities ($5.5m) and George Ade Memorial Health Care Center Inc ($5.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $263k (6.6% of expenses). Other salaries and wages came to $268k. At year end it held assets of $6.1m against liabilities of $150k, net assets of $5.9m. It reported 6 employees.