Prism Way

Analysis

Prism Way is a registered charity in United States, based in Santa Monica, CA. It received its IRS tax-exemption ruling in May 2022, 4 years ago. 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, Prism Way reported income of $931k and spending of $641k, leaving 31% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $210k to $931k (+344%), an average of +344% a year. The sharpest change came in the year to December 2023, when income rose by 344%. Over the whole period it spent 72% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Prism Way sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 79th percentile within CA. Charities of a similar size with the same main cause include Boy Scouts of America ($931k), Funny Farm Rescue ($931k) and Contact Ministries ($930k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 9.4% of the total. Compensation of current officers, directors and key employees was $164k (26% of expenses). Other salaries and wages came to $86k. At year end it held assets of $375k against liabilities of $50k, net assets of $325k. It reported 9 employees.