Prospect INC

Lebanon, TNUnknown exempt organization EIN 62-0793411Revenue $4.2M in FY2022Latest filing we have: 2021. Newer ones may not be in our data yet. Filed since? Tell us.

On file with the IRSprospectinc.comLebanon, TN

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To provide support services and employment to people who have disabilities or other barriers to personal independence.

85¢ of each $1 spent went to programs.
$199K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2022
latest Form 990
The latest return is for FY2022, 4 tax years back.
IRS e-file · Filing history
Surplus or deficit
3 of 3
filings with a surplus
Average surplus $390K a year · 7% of revenue · last 3 filings
A surplus in 3 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
85%
of spending
85% of spending went to programs.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$199K
to officers and key staff · 5% of spending
Pay to officers and key staff is 5% of spending.
Part VII, Section A
Named funders
2
named funders · $5K
2 funders name it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
9
of 9 voting members
9 of 9 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$4.2M
-39% vs prior year
Spent
$4.1M
To programs
85%
Net assets
$0
By yearFY2020–FY2022
Revenue
$4.2M
FY2022▼ -39%
Tap a bar for its year
Revenue by fiscal year
FY2020$5.9M
FY2021$6.9M
FY2022$4.2M
Expenses
$4.1M
FY2022▼ -32%
Tap a bar for its year
Expenses by fiscal year
FY2020$5.9M
FY2021$5.9M
FY2022$4.1M
Net assets
$0
FY2022▼ -100%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.4M
FY2021$2.4M
FY2022$0

From the FY2022 Form 990 (year ending February 2022) · figures checked against the IRS filing · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing we have: FY2021.

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

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $3.4M Management & general 15% · $622K

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

11 people listed on the 990; $199K paid to officers and key staff (Part VII, Section A).

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Executive Director
$121,196Pt VII · Sec A
Controller
$78,114Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

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

NameFY2022FY2021FY2020
Andy White$121,196$99,389$85,000
Michael Pittman$78,114$77,217$68,942

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 Prospect 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 15aYes

Programs and updates

Helps people with disabilities find jobs and support services.

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1 program · $3.4M · in their own filed words · FY2021
01

Employment services, residential and home support services, day services, child development, family support and other programs.

$3.4Mprogram 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 · FY2023
Total grants receivedfrom 2 funders$5K

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Jun 2021 · $2.0M federal money spent
Supportive Housing for Persons with DisabilitiesDepartment of Housing and Urban Development · ALN 14.181 · Direct$1.7M
Enhanced Mobility of Seniors and Individuals with DisabilitiesDepartment of Transportation · ALN 20.513 · Through Tennessee Department of Transportation$128K
Special Education-Grants for Infants and FamiliesDepartment of Education · ALN 84.181 · Through Tennessee Department of Education$88K

The auditor reported no findings.

Year ending Jun 2020 · $1.9M federal money spent
Supportive Housing for Persons with DisabilitiesDepartment of Housing and Urban Development · ALN 14.181 · Direct$1.7M
Special Education-Grants for Infants and FamiliesDepartment of Education · ALN 84.181 · Through Tennessee Department of Education$119K

The auditor reported no findings.

Year ending Jun 2019 · $1.9M federal money spent
Supportive Housing for Persons with DisabilitiesDepartment of Housing and Urban Development · ALN 14.181 · Direct$1.7M
Special Education-Grants for Infants and FamiliesDepartment of Education · ALN 84.181 · Through Tennessee Department of Education$119K

The auditor reported no findings.

Year ending Jun 2018 · $1.8M federal money spent
Supportive Housing for Persons with DisabilitiesDepartment of Housing and Urban Development · ALN 14.181 · Direct$1.7M
Special Education-Grants for Infants and FamiliesDepartment of Education · ALN 84.181 · Through Tennessee Department of Education$119K

The auditor reported no findings.

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$4.2M
Ln 12
Gifts and grantsLn 1h$4.2M
Other incomeLn 4–11$62K
Investment incomeLn 3$6K
Money outPt IX
$4.1M
Ln 25
Programscol B$3.4M
Managementcol C$622K
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
11
listed · VII A
PaidVII A2
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.2M
Government grantsLn 1e$4.1M
Investment incomeLn 3$6K
Other incomeLn 4–11$62K
Gains on assetsLn 7$3K
Total revenueLn 12$4.2M
Assets in detailPt X, end of year
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 5202
VolunteersI 60
Fiscal year endsHeaderFebruary
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$2.1M$0
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$206K$0
Total assetsLn 16$3.0M$0
LiabilitiesLn 26$591K$0
Net assetsLn 32$2.4M$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$2.9M$2.6M$293K
Pension plan contributionsLn 8$16K$14K$2K
Other employee benefitsLn 9$380K$341K$39K
Payroll taxesLn 10$252K$226K$26K
Other fees for servicesLn 11g$108K$7K$101K
Information technologyLn 14$40K$2K$37K
OccupancyLn 16$120K$73K$47K
TravelLn 17$17K$14K$3K
Depreciation, depletion and amortizationLn 22$54K$53K$1K
InsuranceLn 23$62K$30K$31K
Other expenses (24a–d)Ln 24$138K$98K$41K
All other expensesLn 24e$899$1K−$107
Total functional expensesLn 25$4.1M$3.4M$622K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest ViewingFiled with the IRS Jan 20, 2023 $4.2M$4.1M$157K$0 990 PDF
FY2021Filed with the IRS Feb 4, 2022 $6.9M$5.9M$994K$2.4M 990 PDF
FY2020Filed with the IRS Mar 18, 2021 $5.9M$5.9M$19K$1.4M 990 PDF

Schedules filed Part IV

I · Grants O · Explanations
See the full FY2022 990
Part I · Summary $4,222,641 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $5,632,962$4,153,918
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $31,042$6,290
I-11 Other revenuePrior year $1,274,326$62,433
I-12 Total revenuePrior year $6,938,330$4,222,641
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $5,161,221$3,525,469
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $782,799$540,145
I-18 Total expensesPrior year $5,944,020$4,065,614
I-19 Revenue less expensesPrior year $994,310$157,027
Part VI · Governance 9 of 9 board members independent, no flags
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
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 $4,222,641 across 7 lines filed
VIII-1e Government grants$4,100,005
VIII-1f All other contributions, gifts and grants$53,913
VIII-1h Total contributions, gifts and grants$4,153,918
VIII-3 Investment incomeExcluded from tax $2,878$2,878
VIII-7 Net gain or loss on sales of assetsRelated to mission $3,412$3,412
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $62,433$62,433
VIII-12 Total revenueRelated to mission $3,412 · Unrelated business $0 · Excluded from tax $65,311$4,222,641
Part IX · Statement of functional expenses $4,065,614 across 12 lines filed
IX-7 Other salaries and wagesPrograms $2,583,998 · Management $293,156$2,877,154
IX-8 Pension plan contributionsPrograms $14,500 · Management $1,675$16,175
IX-9 Other employee benefitsPrograms $340,630 · Management $39,354$379,984
IX-10 Payroll taxesPrograms $226,041 · Management $26,115$252,156
IX-11g Other fees for servicesPrograms $6,707 · Management $101,260$107,967
IX-14 Information technologyPrograms $2,246 · Management $37,472$39,718
IX-16 OccupancyPrograms $73,461 · Management $46,638$120,099
IX-17 TravelPrograms $14,436 · Management $2,717$17,153
IX-22 Depreciation, depletion and amortizationPrograms $52,885 · Management $1,421$54,306
IX-23 InsurancePrograms $30,187 · Management $31,367$61,554
IX-24 Other expenses (24a–d)Programs $97,795 · Management $40,654$138,449
IX-24e All other expensesPrograms $1,006 · Management −$107$899
IX-25 Total functional expensesPrograms $3,443,892 · Management $621,722 · Fundraising $0$4,065,614
Part X · Balance sheet $0 assets, 22 lines filed
X-1 Cash, non-interest-bearingStart of year $1,870,327$0
X-2 Savings and temporary cash investmentsStart of year $263,403$0
X-3 Pledges and grants receivableStart of year $49,145$0
X-4 Accounts receivableStart of year $566,988$0
X-5 Loans to officers and key people$0
X-6 Loans to other insiders$0
X-7 Notes and loans receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $24,634$0
X-10c Land, buildings and equipment, netStart of year $206,018$0
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $2,980,515$0
X-17 Accounts payable and accrued expensesStart of year $456,558$0
X-19 Deferred revenueStart of year $134,189$0
X-26 Total liabilitiesStart of year $590,747$0
X-27 Net assets without donor restrictionsStart of year $2,389,768$0
X-32 Total net assets or fund balancesStart of year $2,389,768$0
X-33 Total liabilities and net assetsStart of year $2,980,515$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$4,222,641
XI-2 Total expenses$4,065,614
XI-3 Revenue less expenses$157,027
XI-4 Net assets at start of year$2,389,768
XI-9 Other changes in net assets−$2,546,795
XI-10 Net assets at end of year$0

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

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