Prosperity Works EIN 85-0466059 Form 990 (PDF) Claim this org

Prosperity Works FY2021 filing

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Builds capacity and advocates for policies to create economic prosperity for all New Mexicans. For fiscal year 2021 it reported $462K in revenue, $658K in expenses, and $878K in net assets.Pt I

Type
Public charity (501(c)(3)) · Mutual/Membership
Location
Albuquerque, NM
Website
www.prosperityworks.net
Filings
5 on file (2020–2021)
Revenue
$462KFY2021
Expenses
$658K
Net assets
$878K
People
9
Filings
5
Updates
0
More identity details & actions ⌄
EIN  85-0466059 Public charity (501(c)(3)) Albuquerque, NM
Form 990 (PDF)
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Size
$100K–1M
What they do
Builds capacity and advocates for policies to create economic prosperity for all New Mexicans.
Leadership
Ona Porter · Founder Emer · $40K
Money in and out
$462K revenue, $658K expenses
Bottom line
65% program efficiency
Where the money goes · FY2021
Total revenue
$462K
Pt VIII · Ln 12
Total expenses
$658K
Pt IX · Ln 25
Net assets
$878K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$196K
Where spending went · Part IX cols B–D
Program services $0.65 Management & general $0.30 Fundraising $0.05
Program efficiency
65%
of spending reaches programs
Operating runway
15.5mo
months of highly liquid reserves at operating expense rate
Surplus margin
-42%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Revenue
$462K
FY2021▼ -55%
Expenses
$658K
FY2021▼ -15%
Total assets
$1.4M
FY2021▼ -3%
Total liabilities
$524K
FY2021▲ +43%
Total revenue
$462K
Pt VIII · Ln 12
Total expenses
$658K
Pt IX · Ln 25
Net assets
$878K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$196K
Total assetsPt X · Ln 16$1.4M
Program-expense ratioPt IX · col B65%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47
Mission & Programs · Part III

Where the work happens

3 program services account for $428K of program spending, described in the organization's own filed words · FY2020.
01

Consumer advocacy. Prosperity works formed the new mexico fair lending coalition to work with organizations and communities across the state to limit the abuses in store front lending and to provide an alternatve for access to capital that is fair, easily accessed, transparent, and one that provides a means to build a credit history.

$231Kprogram expense
02

Childrens Economic Security

Prosperity kids is a matched college savings account initiative. It is designed to leverage the important work of partner organizations thus furthering their engagement with clients and increasing their impact.

$164Kprogram expense
03

Financial inclusion and opportunity- individual development accounts (idas) have been deployed to encourage savings, investment and asset accumulation among moderate income and working families.

$33Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CProsperity Works
EINHdr · item D85-0466059
Principal addressHdr · item CAlbuquerque, NM
WebsiteHdr · item Jwww.prosperityworks.net
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNM
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFMutual/Membership (Y02)
Ruling yearIRS BMFFeb 2000

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1b7
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 · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Founder Emer
$39,608Pt VII · Sec A
CEO (to Marc
$28,426Pt VII · Sec A
Chairman
$0Pt VII · Sec A
Vice Chairma
$0Pt VII · Sec A
Past Chairwo
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A

Dr Ann Lyn Hall’s $125K as CEO is at the 96th percentile of top reported officer pay among 536 $100K–1M mutual/membership 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

NameFY2024FY2023FY2022FY2021FY2020
Dr Ann Lyn Hall$124,976$121,254
Ona Porter$56,997$54,376$39,608$39,608$75,284
Arellana Cordero$28,426

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$434K · 94%
Other revenue$21K · 5%
Program service revenue$7K · 1%
Contributions & grants94%$434K
Other revenue5%$21K
Program service revenue1%$7K
Investment income$704
Total revenueLn 12$462K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.65 Management & general $0.30 Fundraising $0.05
Program services65%$428K
Management & general30%$196K
Fundraising5%$34K
Total functional expensesLn 25$658K

Balance Sheet

Part X · end of year
CashLn 1$848K
Total assetsLn 16$1.4M
Total liabilitiesLn 26$524K
Total net assetsLn 32$878K
Months of cash on handcomputed15.5

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $848K · Operating expenses/yr $658K
15.5 months
Where the money goes
Program services
Program services $428K · Total expenses $658K
65%
Management & General
Management & general $196K · Total expenses $658K
30%
Fundraising
Fundraising $34K · Total expenses $658K
5%
Cost to raise $1
Fundraising expense (2-yr avg) $35K · Solicited contributions (2-yr avg) $496K
$0.07 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $434K · Total revenue $462K
94%
Government reliance
Government grants — · Total revenue $462K
Earned-income share
Program service revenue $7K · Total revenue $462K
1%
Investment reliance
Investment income $704 · Total revenue $462K
+0.2%
Program self-sufficiency
Program service revenue $7K · Total expenses $658K
1%
Growth & trend
Revenue growth (YoY)
This year $462K · Prior year $1.0M
-55%
Net-asset trend (YoY)
End of year $878K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $462K · Expenses $658K
-42%
Liabilities-to-Assets
Total liabilities — · Total assets $1.4M
Net-asset ratio
Net assets $878K · Total assets $1.4M
63%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.4M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Ona Porter · Reported title FOUNDER EMER · Highest reported compensation $40K · Total expenses $658K
6%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $324K · Total expenses $658K
49%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 65%
Overhead ratio 30%
Fundraising cost ratio 8%
Revenue growth -55%

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
Total grants receivedfrom 3 funders$84K
See all 3 funders →
Grants paid · 5 grants · $397K · 2019–2023
Unitemized GrantFY2023$169,975
Unitemized GrantFY2022$101,882
Unitemized GrantFY2021$85,454
Unitemized GrantFY2020$19,800
Unitemized GrantFY2019$19,935

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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
FY2024 (Latest)$583K revenue · ⤓ 990 PDF
FY2023$662K revenue · ⤓ 990 PDF
FY2022$661K revenue · ⤓ 990 PDF
FY2021$462K revenue · viewing · ⤓ 990 PDF
FY2020$1.0M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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