Project Prosper

IRS exemption revoked

Saint Petersburg, FLUnknown exempt organizationEIN 45-0491407Revenue $5.6M in FY2020

On file with the IRSprojectprosper.org2815 Edwards Ave S · Saint Petersburg, FL

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To provide services to incarcerated sex workers

74¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2020
latest Form 990
Concern: the latest return is for FY2020, 6 tax years back; more than 4 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 2
filings with a surplus
Average surplus $1.7M a year · 51% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
74%
of spending
Fine: 74% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $6K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.6M
+520% vs prior year
Spent
$2.3M
To programs
74%
Net assets
$3.4M
By yearFY2019–FY2020
Revenue
$5.6M
FY2020▲ +520%
Tap a bar for its year
Revenue by fiscal year
FY2019$907K
FY2020$5.6M
Expenses
$2.3M
FY2020▲ +145%
Tap a bar for its year
Expenses by fiscal year
FY2019$923K
FY2020$2.3M
Net assets
$3.4M
FY2020▲ ×73
Tap a bar for its year
Net assets by fiscal year
FY2019$46K
FY2020$3.4M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
IRS revoked this organization's tax-exempt status on May 15, 2024

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2020.

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

Where the money goes

74 cents of each dollar spent went to programs.

Program services 74% · $1.7M Management & general 26% · $584K

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
President
$0Pt VII · Sec A
See Project Prosper executive salaries →

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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

Offers support and services to incarcerated sex workers.

Provided by the organization

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1 program · $2.3M · in their own filed words · FY2020
01

Providing education resources counseling and other material and services to individuals engaged in the sex trade and provide books to incarcerated individuals

$2.3Mprogram 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$6K

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$5.6M
Ln 12
Gifts and grantsLn 1h$5.6M
Money outPt IX
$2.3M
Ln 25
Programscol B$1.7M
Managementcol C$584K
Owns and owesPt X
$3.4M
net assets · Ln 32
Cash and savingsLn 1–2$268K
Total assetsLn 16$3.4M
LiabilitiesLn 26$0
PeoplePt VI, VII
1
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.6M
Noncash giftsLn 1g$832K
Total revenueLn 12$5.6M
Assets in detailPt X, end of year
CashLn 1$268K
Cash and savings togetherLn 1–2$268K
InvestmentsLn 11–13$44K
Land, buildings, equipmentLn 10c$3.1M
Other assetsLn 15$25K
Total assetsLn 16$3.4M
LiabilitiesLn 26$0
Net assetsLn 32$3.4M
OperationsPt I, VI
EmployeesI 50
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 FY20End FY20
Cash and savingsLn 1–2$17K$268K
InvestmentsLn 11–13$44K
Land, buildings, equipmentLn 10c$0$3.1M
Total assetsLn 16$46K$3.4M
LiabilitiesLn 26$0$0
Net assetsLn 32$46K$3.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$300K$71K$229K
Accounting feesLn 11c$18K$18K
Professional fundraising feesLn 11e$2K
Other fees for servicesLn 11g$50K$50K
Advertising and promotionLn 12$8K$8K
Office expensesLn 13$269K$69K$200K
OccupancyLn 16$126K$73K$52K
TravelLn 17$32K$25K$8K
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$18K$5K$13K
Other expenses (24a–d)Ln 24$1.4M$1.4M
All other expensesLn 24e$5K$0$5K$0
Total functional expensesLn 25$2.3M$1.7M$584K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2020 Latest Viewing $5.6M$2.3M$3.4M$3.4M 990 PDF
FY2019 $907K$923K−$16K$46K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $5,620,991 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$5,620,991
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $0$5,620,991
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$1,702
I-17 Other expensesPrior year $0$2,263,091
I-18 Total expensesPrior year $0$2,264,793
I-19 Revenue less expensesPrior year $0$3,356,198
Part VI · Governance 5 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
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 $5,620,991 across 6 lines filed
VIII-1f All other contributions, gifts and grants$5,620,991
VIII-1g Noncash contributions (included above)$832,300
VIII-1h Total contributions, gifts and grants$5,620,991
VIII-6 Net rental income or loss$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$5,620,991
Part IX · Statement of functional expenses $2,264,793 across 12 lines filed
IX-11a Management feesPrograms $71,144 · Management $228,679$299,823
IX-11c Accounting feesManagement $18,481$18,481
IX-11e Professional fundraising fees$1,702
IX-11g Other fees for servicesManagement $50,333$50,333
IX-12 Advertising and promotionManagement $8,382$8,382
IX-13 Office expensesPrograms $68,797 · Management $199,716$268,513
IX-16 OccupancyPrograms $73,174 · Management $52,363$125,537
IX-17 TravelPrograms $24,543 · Management $7,639$32,182
IX-22 Depreciation, depletion and amortization$0
IX-23 InsurancePrograms $4,514 · Management $13,241$17,755
IX-24 Other expenses (24a–d)Programs $1,437,268$1,437,268
IX-24e All other expensesPrograms $0 · Management $4,817 · Fundraising $0$4,817
IX-25 Total functional expensesPrograms $1,679,440 · Management $583,651 · Fundraising $0$2,264,793
Part X · Balance sheet $3,402,603 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $16,522$267,705
X-9 Prepaid expenses and deferred charges$193
X-10c Land, buildings and equipment, netStart of year $0$3,066,000
X-11 Publicly traded securities$43,800
X-15 Other assets$24,905
X-16 Total assetsStart of year $46,405$3,402,603
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $46,405$3,402,603
X-33 Total liabilities and net assetsStart of year $46,405$3,402,603
Part XI · Reconciliation of net assets $3,402,603 net assets at year end
XI-1 Total revenue$5,620,991
XI-2 Total expenses$2,264,793
XI-3 Revenue less expenses$3,356,198
XI-4 Net assets at start of year$46,405
XI-10 Net assets at end of year$3,402,603

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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