Prisms INC EIN 54-1652029 Form 990 (PDF) Claim this org

Prisms INC FY2024 filing

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Supports families, funds research, and partners with professionals to advance understanding of Smith-Magenis Syndrome. For fiscal year 2024 it reported $474K in revenue, $550K in expenses, and $598K in net assets.Pt I

Founded
1993
Type
Public charity (501(c)(3)) · Diseases & Disorders
Location
Herndon, VA
Website
www.prisms.org
Filings
6 on file (2020–2024)
Revenue
$474KFY2024
Expenses
$550K
Net assets
$598K
People
14
Filings
6
Updates
0
More identity details & actions ⌄
EIN  54-1652029 Public charity (501(c)(3)) Herndon, VA Founded 1993
Form 990 (PDF)
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →
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Size
$100K–1M
What they do
Supports families, funds research, and partners with professionals to advance understanding of Smith-Magenis Syndrome.
Leadership
Michelle Larscheid · Executive Director · $94K
Money in and out
$474K revenue, $550K expenses
Bottom line
78% program efficiency
Where the money goes · FY2024
Total revenue
$474K
Pt VIII · Ln 12
Total expenses
$550K
Pt IX · Ln 25
Net assets
$598K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$76K
Where spending went · Part IX cols B–D
Program services $0.78 Management & general $0.16 Fundraising $0.06
Program efficiency
78%
of spending reaches programs
Operating runway
13.1mo
months of highly liquid reserves at operating expense rate
Surplus margin
-16%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$474K
FY2024▲ +13%
Expenses
$550K
FY2024▲ +100%
Total assets
$608K
FY2024▼ -12%
Total liabilities
$10K
FY2024▼ -52%
Total revenue
$474K
Pt VIII · Ln 12
Total expenses
$550K
Pt IX · Ln 25
Net assets
$598K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$76K
Total assetsPt X · Ln 16$608K
Program-expense ratioPt IX · col B78%
Voting members of governing bodyPt I · Ln 313
Independent voting membersPt I · Ln 413
Mission & Programs · Part III

Where the work happens

3 program services account for $427K of program spending, described in the organization's own filed words · FY2024.
01

The PRISMS community gathered for our biennial conference July 11-13 in Dallas, TX, at the Hyatt Regency hotel. The theme of the conference was Leading The Way Together. The conference included 374 Conference Attendees, 62 Sessions, 45 Presenters, 69 SMS Individuals, 32 Siblings, 22 Family Scholarship Recipients, 11 Teacher and Support…

$287Kprogram expense
02

PRISMS provides support to our SMS community in a number of ways in including phone and email support, information sharing newsletters, annual reports, webinars, awareness materials, informational packets, and a shared community Facebook Group for family support.

$116Kprogram expense
03

PRISMS 11th Smith-Magenis Syndrome Research Symposium brought together researchers from around the world to share and collaborate on research about Smith-Magenis syndrome SMS in Dallas, TX, on July 10-11.

$25Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CPrisms INC
EINHdr · item D54-1652029
Principal addressHdr · item CHerndon, VA
WebsiteHdr · item Jwww.prisms.org
Year of formationHdr · item L1993
State of legal domicileHdr · item MVA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFDiseases & Disorders (G20)
Ruling yearIRS BMFApr 2000

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a13
Independent voting membersPt VI · Ln 1b13
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$94,038Pt VII · Sec A
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Immediate Past President
$0Pt VII · Sec A
Founding Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Michelle Larscheid’s $100K as Executive Director is at the 79th percentile of top reported officer pay among 900 $100K–1M diseases & disorders 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 · 3 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Michelle Larscheid$100,000$94,038
Casey Gorman$60,837$82,770$85,481$79,816
Michelle Larscheid Com Mgr 012023-9$69,714

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.

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Statement of Revenue

Part VIII
Contributions & grants$374K · 79%
Program service revenue$70K · 15%
Investment income$29K · 6%
Contributions & grants79%$374K
Program service revenue15%$70K
Investment income6%$29K
Other revenue$1K
Total revenueLn 12$474K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.78 Management & general $0.16 Fundraising $0.06
Program services78%$427K
Management & general16%$90K
Fundraising6%$32K
Total functional expensesLn 25$550K

Balance Sheet

Part X · end of year
CashLn 1$156K
Total assetsLn 16$608K
Total liabilitiesLn 26$10K
Total net assetsLn 32$598K
Months of cash on handcomputed3.4

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $569K · Operating expenses (Pt IX) $550K · Less non-cash grants $28K · Cash operating expenses/yr $522K
13.1 months
Where the money goes
Program services
Program services $427K · Total expenses $550K
78%
Management & General
Management & general $90K · Total expenses $550K
16%
Fundraising
Fundraising $32K · Total expenses $550K
6%
Cost to raise $1
Fundraising expense (3-yr avg) $37K · Solicited contributions (3-yr avg) $363K
$0.10 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $374K · Total revenue $474K
79%
Government reliance
Government grants — · Total revenue $474K
Earned-income share
Program service revenue $70K · Total revenue $474K
15%
Investment reliance
Investment income $29K · Total revenue $474K
+6%
Program self-sufficiency
Program service revenue $70K · Total expenses $550K
13%
Growth & trend
Revenue growth (YoY)
This year $474K · Prior year $421K
+13%
Revenue CAGR
FY2020 $484K · FY2024 $474K
-0.6%
Net-asset trend (YoY)
End of year $598K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $474K · Expenses $550K
-16%
Liabilities-to-Assets
Total liabilities — · Total assets $608K
Net-asset ratio
Net assets $598K · Total assets $608K
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $413K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $608K
68%
People & payroll
Highest Reported Total Compensation
Individual Michelle Larscheid · Reported title Executive Director · Highest reported compensation $94K · Total expenses $550K
17%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $101K · Total expenses $550K
18%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 78%
Overhead ratio 16%
Fundraising cost ratio 9%
Revenue growth 13%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 4%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 6 funders →
Grants paid · 7 grants · $190K · 2020–2025
Baylor College of MedicineTX · FY2025$13,842
Unitemized GrantFY2025$12,028
Unitemized GrantFY2025$3,000
Baylor College of MedicineTX · FY2024$18,938
Baylor College of MedicineTX · FY2022$75,000
Baylor College of MedicineTX · FY2021$35,000
Baylor College of MedicineTX · FY2020$32,500

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$439K revenue · ⤓ 990 PDF
FY2024$474K revenue · viewing · ⤓ 990 PDF
FY2023$421K revenue · ⤓ 990 PDF
FY2022$359K revenue · ⤓ 990 PDF
FY2021$266K revenue · ⤓ 990 PDF
FY2020$484K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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