Prospanica

Analysis

Prospanica is a registered charity in United States, based in Dallas, TX. It received its IRS tax-exemption ruling in May 1993, 33 years ago. 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, Prospanica reported income of $2.8m and spending of $3.4m, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $523k to $2.8m (+441%), an average of +52% a year. The sharpest change came in the year to December 2022, when income rose by 658%. Over the whole period it spent 123% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Prospanica sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 91st percentile within TX. Charities of a similar size with the same main cause include Hartford Interval House Inc ($2.8m), Yolo Employment Services ($2.8m) and Cottage Grove Athletic Association ($2.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 7.9% and program service revenue 77% of the total. Compensation of current officers, directors and key employees was $470k (14% of expenses). Other salaries and wages came to $419k. At year end it held assets of $6.4m against liabilities of $1.2m, net assets of $5.3m. It reported 11 employees.