Great Prospects INC FY2023 filing

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Services for young adults with developmental disabilities.

501(c)(3) charity; gifts are tax-deductible.
12¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $108K a year · 27% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
12%
of spending
Concern: 12% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
3 mo
of spending, in cash
Looks good: 3.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $3K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$3K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 3 voting members
Concern: none of 3 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$403K
+1% vs prior year
Spent
$323K
To programs
12%
Net assets
$80K
By yearFY2020–FY2025
Revenue
$403K
FY2023▲ +1%
Tap a bar for its year
Revenue by fiscal year
FY2020$197K
FY2021$260K
FY2022$398K
FY2023$403K
FY2024$375K
FY2025$571K
Expenses
$323K
FY2023▲ +11%
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021$187K
FY2022$292K
FY2023$323K
FY2024$343K
FY2025$322K
Net assets
$80K
FY2023▼ -24%
Tap a bar for its year
Net assets by fiscal year
FY2020$250K
FY2021$323K
FY2022$106K
FY2023$80K
FY2024$112K
FY2025$1.5M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 2009.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

12 cents of each dollar spent went to programs.

Program services 12% · $40K Management & general 88% · $283K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

1 person listed on the 990.

Part VII, Section A · reportable compensation
Operating Officer
$0Pt VII · Sec A

Jack Garrett’s $63K as Director of Operations is at the 55th percentile of top reported officer pay among 1612 $100K–1M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2025FY2021
Jack Garrett$63,000—
Michelle Jericevich$36,000$10,504

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Great Prospects INC executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports young adults with developmental disabilities through essential services.

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1 program · $40K · in their own filed words · FY2023
01

Therapeutic day programs providing social skills, peerr support, workplace options, community service and planning for an independent future for young adults.

$40Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$3K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$403K
Ln 12
Gifts and grantsLn 1h$403K
Money outPt IX
$323K
Ln 25
Programscol B$40K
Managementcol C$283K
Owns and owesPt X
$80K
net assets · Ln 32
Cash and savingsLn 1–2$83K
Total assetsLn 16$83K
LiabilitiesLn 26$3K
PeoplePt VI, VII
1
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$403K
Total revenueLn 12$403K
Assets in detailPt X, end of year
CashLn 1$83K
Cash and savings togetherLn 1–2$83K
Total assetsLn 16$83K
LiabilitiesLn 26$3K
Net assetsLn 32$80K
OperationsPt I, VI
EmployeesI 511
VolunteersI 67
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$83K
Total assetsLn 16$0$83K
LiabilitiesLn 26$0$3K
Net assetsLn 32$0$80K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$202K$5K$197K
Payroll taxesLn 10$15K$15K
Management feesLn 11a$18K$17K$1K
Accounting feesLn 11c$1K$1K
Other fees for servicesLn 11g$2K$1K$291
Advertising and promotionLn 12$646$646
Office expensesLn 13$35K$14K$21K
InterestLn 20$29$29
InsuranceLn 23$5K$5K
Other expenses (24a–d)Ln 24$3K$2K$1K
All other expensesLn 24e$41K$41K
Total functional expensesLn 25$323K$40K$283K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Mar 24, 2026 $571K$322K$249K$1.5M 990 PDF
FY2024Filed with the IRS Mar 12, 2025 $375K$343K$32K$112K 990 PDF
FY2023 ViewingFiled with the IRS Feb 24, 2024 $403K$323K$80K$80K 990 PDF
FY2022Filed with the IRS Apr 18, 2023 $398K$292K$106K$106K 990 PDF
FY2021Filed with the IRS Aug 9, 2022 $260K$187K$73K$323K 990 PDF
FY2020Filed with the IRS Aug 24, 2021 $197K$250K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $403,306 revenue, 12 lines filed
I-8 Contributions and grants$403,306
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenue$403,306
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$217,517
I-16a Professional fundraising fees$0
I-17 Other expenses$105,731
I-18 Total expenses$323,248
I-19 Revenue less expenses$80,058
Part VI · Governance 0 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $403,306 across 3 lines filed
VIII-1f All other contributions, gifts and grants$403,306
VIII-1h Total contributions, gifts and grants$403,306
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$403,306
Part IX · Statement of functional expenses $323,248 across 11 lines filed
IX-7 Other salaries and wagesPrograms $5,056 · Management $197,195$202,251
IX-10 Payroll taxesManagement $15,266$15,266
IX-11a Management feesPrograms $16,576 · Management $1,064$17,640
IX-11c Accounting feesManagement $1,053$1,053
IX-11g Other fees for servicesPrograms $1,410 · Management $291$1,701
IX-12 Advertising and promotionPrograms $646$646
IX-13 Office expensesPrograms $14,310 · Management $21,069$35,379
IX-20 InterestManagement $29$29
IX-23 InsuranceManagement $5,224$5,224
IX-24 Other expenses (24a–d)Programs $2,000 · Management $1,395$3,395
IX-24e All other expensesManagement $40,664$40,664
IX-25 Total functional expensesPrograms $39,998 · Management $283,250 · Fundraising $0$323,248
Part X · Balance sheet $82,879 assets, 7 lines filed
X-1 Cash, non-interest-bearing$82,879
X-16 Total assetsStart of year $0$82,879
X-17 Accounts payable and accrued expenses$2,821
X-26 Total liabilitiesStart of year $0$2,821
X-27 Net assets without donor restrictions$80,058
X-32 Total net assets or fund balancesStart of year $0$80,058
X-33 Total liabilities and net assetsStart of year $0$82,879
Part XI · Reconciliation of net assets $80,058 net assets at year end
XI-1 Total revenue$403,306
XI-2 Total expenses$323,248
XI-3 Revenue less expenses$80,058
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$80,058

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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