Prosperity Now FY2022 filing

Tax-deductible

Washington, DC501(c)(3)Since 1979Community DevelopmentEIN 52-1141804Revenue $17.2M in FY2022

On file with the IRSprosperitynow.org1200 G St Nw Ste 800, 20005-6705 · Washington, DCTax-exempt since Jan 1980Publicly supported charity — 170(b)(1)(A)(vi)

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See part III, line 1.

501(c)(3) charity; gifts are tax-deductible.
69¢ of each $1 spent went to programs.
$1.6M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $2.3M a year · 13% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
69%
of spending
Fine: 69% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.6M
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 3.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
14
named funders · $10.6M
Looks good: 14 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$10.0M
39% of total assets
Looks good: liabilities are 39% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$17.2M
-30% vs prior year
Spent
$24.2M
To programs
69%
Net assets
$15.4M
By yearFY2020–FY2024
Revenue
$17.2M
FY2022▼ -30%
Revenue by fiscal year
FY2020$11.0M
FY2021$24.6M
FY2022$17.2M
FY2023$20.4M
FY2024$14.1M
Expenses
$24.2M
FY2022▲ +39%
Expenses by fiscal year
FY2020$12.6M
FY2021$17.3M
FY2022$24.2M
FY2023$25.1M
FY2024$19.6M
Net assets
$15.4M
FY2022▼ -37%
Net assets by fiscal year
FY2020$16.4M
FY2021$24.4M
FY2022$15.4M
FY2023$11.3M
FY2024$5.5M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1980.

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

Where the money goes

69 cents of each dollar spent went to programs.

Program services 69% · $16.6M Management & general 24% · $5.8M Fundraising 7% · $1.8M

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

20 people listed on the 990; $1.6M paid to officers and key staff.

Part VII, Section A · reportable compensation
$367,224Pt VII · Sec A
Chief Strategy and Innovation Officer
$285,250Pt VII · Sec A
Chief Engagement Officer
$280,000Pt VII · Sec A
VP, Strat Ptnship & Ntwk Bldg
$232,550Pt VII · Sec A
Vice President, Philantropy
$232,550Pt VII · Sec A
Vice President, Talent & Culture
$209,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Marisa Calderon’s $386K as President & CEO is at the 67th percentile of top reported officer pay among 572 $10–100M community development 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 · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Marisa Calderon$386,330————
Gary Cunningham—$288,886$367,224$370,398$357,048
Cherie Collins Sims—$315,354—$270,478$243,644
Dr Cherie Collins Sims——$285,250——
Mary-Frances Wain$219,452$282,695$280,000$276,948—
Lillian Singh--VP Programs———$259,836—
Natalie Evans Harris—$252,589———
Caryn Sweeney————$248,650

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 Prosperity Now 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 15aYes

Programs and updates

Connects organizations and leaders to share data and tools, expanding financial stability for individuals and families.

Provided by the organization

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3 programs · $16.4M · in their own filed words · FY2022
01

Savings and Financial Capability

The savings and financial capability program focuses on program and practice innovations that help low-income individuals and families have the knowledge, skills, and resources they need to build assets.

$10.3Mprogram expense
02

Research, Policy, Racial Wealth Divide and Field Engagement

The applied research team at prosperity now produces and disseminates three kinds of research: (1) research that helps define the current state of household financial security in the U.S.; (2) research that documents the emergence and growth of innovative new programs, policies, and products designed to help improve financial security…

$4.1Mprogram expense
03

National Conference and Communications

: prosperity now's communications team supports each of its ongoing programs as well as the larger goals of the organization by elevating prosperity now's brand, programs, and experts, and by promoting and explaining the work of prosperity now to a variety of stakeholders.

$2.0Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 14 funders$10.6M
See all 14 funders →
Grants paid · 173 grants · $19.4M · 2020–2024
Pacific Community Ventures INCCA · FY2024$1,909,214
Latino Business Action NetworkFY2024$85,000
Pacific Community Ventures INCFY2023$360,000
The Enterprise CenterPA · FY2023$50,000
Vermont-Slauson Ldc INCCA · FY2023$50,000
Unitemized GrantFY2023$25,000
Community College FoundationCA · FY2023$11,000
See all 173 grants →

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$17.2M
Ln 12
Gifts and grantsLn 1h$16.0M
Fees for servicesLn 2g$720K
Investment incomeLn 3$372K
Money outPt IX
$24.2M
Ln 25
Programscol B$16.6M
Managementcol C$5.8M
Fundraisingcol D$1.8M
Owns and owesPt X
$15.4M
net assets · Ln 32
Cash and savingsLn 1–2$7.2M
Total assetsLn 16$25.4M
LiabilitiesLn 26$10.0M
PeoplePt VI, VII
20
listed · VII A
PaidVII A6
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$16.0M
Government grantsLn 1e$285K
Noncash giftsLn 1g$69K
Fees for servicesLn 2g$720K
Investment incomeLn 3$372K
Other incomeLn 4–11$104K
Gains on assetsLn 7$53K
Total revenueLn 12$17.2M
Assets in detailPt X, end of year
CashLn 1$7.2M
SavingsLn 2$28K
Cash and savings togetherLn 1–2$7.2M
InvestmentsLn 11–13$10.7M
Land, buildings, equipmentLn 10c$139K
Other assetsLn 15$4.8M
Total assetsLn 16$25.4M
LiabilitiesLn 26$10.0M
Net assetsLn 32$15.4M
OperationsPt I, VI
EmployeesI 574
VolunteersI 615
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$10.2M$7.2M
InvestmentsLn 11–13$12.5M$10.7M
Land, buildings, equipmentLn 10c$770K$139K
Total assetsLn 16$29.1M$25.4M
LiabilitiesLn 26$4.7M$10.0M
Net assetsLn 32$24.4M$15.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$4.6M$4.6M
Pay of current officers, directors and key staffLn 5$415K$394K$17K$4K
Other salaries and wagesLn 7$8.7M$5.3M$2.4M$1.0M
Pension plan contributionsLn 8$420K$234K$138K$47K
Other employee benefitsLn 9$792K$443K$260K$89K
Payroll taxesLn 10$616K$353K$196K$67K
Legal feesLn 11b$102K$62K$39K
Accounting feesLn 11c$51K$51K
Professional fundraising feesLn 11e$412K$412K
Investment management feesLn 11f$37K$37K
Other fees for servicesLn 11g$4.8M$3.2M$1.5M
Office expensesLn 13$83K$35K$46K$1K
Information technologyLn 14$68K$3K$65K$210
OccupancyLn 16$742K$128K$549K$65K
TravelLn 17$628K$544K$67K$17K
Conferences, conventions and meetingsLn 19$1.3M$1.1M$104K$37K
InterestLn 20$28$1$27
Depreciation, depletion and amortizationLn 22$64K$64K
InsuranceLn 23$37K$1K$36K
Other expenses (24a–d)Ln 24$339K$128K$194K$18K
Total functional expensesLn 25$24.2M$16.6M$5.8M$1.8M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $14.1M$19.6M−$5.5M$5.5M 990 PDF
FY2023 $20.4M$25.1M−$4.7M$11.3M 990 PDF
FY2022 Viewing $17.2M$24.2M−$6.9M$15.4M 990 PDF
FY2021 $24.6M$17.3M$7.3M$24.4M 990 PDF
FY2020 $11.0M$12.6M−$1.6M$16.4M 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 FY2022 990 (6 parts)
Part I · Summary $17,231,034 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $23,689,751$16,034,692
I-9 Program service revenuePrior year $189,003$720,239
I-10 Investment incomePrior year $568,549$371,741
I-11 Other revenuePrior year $197,571$104,362
I-12 Total revenuePrior year $24,644,874$17,231,034
I-13 Grants and similar amounts paidPrior year $4,829,168$4,585,750
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $8,904,252$10,983,969
I-16a Professional fundraising feesPrior year $181,000$412,495
I-17 Other expensesPrior year $3,418,323$8,183,542
I-18 Total expensesPrior year $17,332,743$24,165,756
I-19 Revenue less expensesPrior year $7,312,131−$6,934,722
Part VI · Governance 14 of 14 board members independent, no flags
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $17,231,034 across 10 lines filed
VIII-1e Government grants$285,000
VIII-1f All other contributions, gifts and grants$15,749,692
VIII-1g Noncash contributions (included above)$69,262
VIII-1h Total contributions, gifts and grants$16,034,692
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $720,239$720,239
VIII-3 Investment incomeExcluded from tax $318,286$318,286
VIII-6 Net rental income or lossExcluded from tax $26,400$26,400
VIII-7 Net gain or loss on sales of assetsExcluded from tax $53,455$53,455
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $77,962$77,962
VIII-12 Total revenueRelated to mission $720,239 · Unrelated business $0 · Excluded from tax $476,103$17,231,034
Part IX · Statement of functional expenses $24,165,756 across 20 lines filed
IX-1 Grants to domestic organizationsPrograms $4,585,750$4,585,750
IX-5 Pay of current officers, directors and key staffPrograms $394,308 · Management $16,602 · Fundraising $4,151$415,061
IX-7 Other salaries and wagesPrograms $5,344,065 · Management $2,396,734 · Fundraising $1,000,404$8,741,203
IX-8 Pension plan contributionsPrograms $233,743 · Management $138,461 · Fundraising $47,310$419,514
IX-9 Other employee benefitsPrograms $443,482 · Management $260,096 · Fundraising $88,852$792,430
IX-10 Payroll taxesPrograms $353,230 · Management $195,744 · Fundraising $66,787$615,761
IX-11b Legal feesPrograms $62,497 · Management $39,065$101,562
IX-11c Accounting feesManagement $50,804$50,804
IX-11e Professional fundraising feesFundraising $412,495$412,495
IX-11f Investment management feesManagement $37,157$37,157
IX-11g Other fees for servicesPrograms $3,212,242 · Management $1,544,608$4,756,850
IX-13 Office expensesPrograms $35,373 · Management $46,473 · Fundraising $1,115$82,961
IX-14 Information technologyPrograms $2,783 · Management $64,965 · Fundraising $210$67,958
IX-16 OccupancyPrograms $128,380 · Management $548,730 · Fundraising $65,299$742,409
IX-17 TravelPrograms $543,642 · Management $67,041 · Fundraising $16,834$627,517
IX-19 Conferences, conventions and meetingsPrograms $1,135,399 · Management $103,992 · Fundraising $36,634$1,276,025
IX-20 InterestPrograms $1 · Management $27$28
IX-22 Depreciation, depletion and amortizationManagement $63,834$63,834
IX-23 InsurancePrograms $1,313 · Management $36,121$37,434
IX-24 Other expenses (24a–d)Programs $127,635 · Management $193,543 · Fundraising $17,825$339,003
IX-25 Total functional expensesPrograms $16,603,843 · Management $5,803,997 · Fundraising $1,757,916$24,165,756
Part X · Balance sheet $25,395,474 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $10,135,149$7,196,559
X-2 Savings and temporary cash investmentsStart of year $42,332$28,392
X-3 Pledges and grants receivableStart of year $4,969,486$2,050,000
X-4 Accounts receivableStart of year $100,590$4,257
X-9 Prepaid expenses and deferred chargesStart of year $495,581$485,236
X-10c Land, buildings and equipment, netStart of year $770,383$138,722
X-11 Publicly traded securitiesStart of year $10,260,919$8,417,535
X-13 Program-related investmentsStart of year $2,250,000$2,250,000
X-15 Other assetsStart of year $65,936$4,824,773
X-16 Total assetsStart of year $29,090,376$25,395,474
X-17 Accounts payable and accrued expensesStart of year $1,341,576$1,212,515
X-18 Grants payableStart of year $2,151,528$3,589,500
X-25 Other liabilitiesStart of year $1,175,248$5,218,059
X-26 Total liabilitiesStart of year $4,681,202$10,020,074
X-27 Net assets without donor restrictionsStart of year $7,976,534$850,158
X-28 Net assets with donor restrictionsStart of year $16,432,640$14,525,242
X-32 Total net assets or fund balancesStart of year $24,409,174$15,375,400
X-33 Total liabilities and net assetsStart of year $29,090,376$25,395,474
Part XI · Reconciliation of net assets $15,375,400 net assets at year end
XI-1 Total revenue$17,231,034
XI-2 Total expenses$24,165,756
XI-3 Revenue less expenses−$6,934,722
XI-4 Net assets at start of year$24,409,174
XI-5 Net unrealized gains (losses) on investments−$2,099,052
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$15,375,400

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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