Civic Intelligence

The Prosperity Foundation Inc.

990 • Fiscal year 2016 • EIN 47-4364468

Jan 01, 2016 to Dec 31, 2016 • Filed on May 12, 2017

Organization Profilewww.tpfct.org
1287 Chapel StNew Haven, CT 06511-4514

(203) 909-1315

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

78th percentile

0.10x

Higher debt load relative to assets than 78% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

75th percentile

0.04x

Higher debt load relative to revenue than 75% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

80th percentile

24%

Higher net margin than 80% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Balance Sheet
Liabilities / Assets78th percentile

Assets

$98,837

No earlier filing loaded for comparison.

Net Assets

$88,513

No earlier filing loaded for comparison.

Liabilities

$10,324

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin80th percentile

Revenue

$247,106

No earlier filing loaded for comparison.

Expenses

$188,620

No earlier filing loaded for comparison.

Net Income

$58,486

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0Assets 2016: $98,837Liabilities 2016: $10,324Net Assets 2016: $88,5132016Assets 2017: $177,590Liabilities 2017: $0Net Assets 2017: $177,5902017Assets 2018: $179,407Liabilities 2018: $0Net Assets 2018: $179,4072018Assets 2019: $228,098Liabilities 2019: $0Net Assets 2019: $228,0982019Assets 2020: $475,358Liabilities 2020: $0Net Assets 2020: $475,3582020Assets 2021: $1,358,648Liabilities 2021: $733,332Net Assets 2021: $625,3162021Assets 2022: $1,929,277Liabilities 2022: $0Net Assets 2022: $1,929,2772022Assets 2023: $3,994,512Liabilities 2023: $1,924,210Net Assets 2023: $2,070,3022023Assets 2024: $2,211,727Liabilities 2024: $23,612Net Assets 2024: $2,188,1152024

Highlighted filing

2016

Assets$98,837
Liabilities$10,324
Net Assets$88,513
Open 2016 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2016: $247,106Expenses 2016: $188,620Net Income 2016: $58,4862016Revenue 2017: $145,276Expenses 2017: $111,438Net Income 2017: $33,8382017Revenue 2018: $90,545Expenses 2018: $118,385Net Income 2018: -$27,8402018Revenue 2019: $158,164Expenses 2019: $166,673Net Income 2019: -$8,5092019Revenue 2020: $329,249Expenses 2020: $114,423Net Income 2020: $214,8262020Revenue 2021: $846,580Expenses 2021: $753,625Net Income 2021: $92,9552021Revenue 2022: $1,820,718Expenses 2022: $545,536Net Income 2022: $1,275,1822022Revenue 2023: $1,956,036Expenses 2023: $1,997,999Net Income 2023: -$41,9632023Revenue 2024: $2,714,369Expenses 2024: $3,163,028Net Income 2024: -$448,6592024

Highlighted filing

2016

Revenue$247,106
Expenses$188,620
Net Income$58,486
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 12, 2017
Return Version
2016v3.0
Gross Receipts
$247,106
Mission and Program Overview

Mission

Pursue charitable and educational activities to strengthen Connecticut's African- American/Black communities in areas such as economic development, education, and health.

Pursue charitable and educational activities to strengthen Connecticut's African-American/Black communities in areas such as economic development, education, and health.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities-$59,710-
Cash and Non-Interest-Bearing Accounts$696$39,127▲ $38,431
Total Assets$696$98,837▲ $98,141
Liabilities
Accounts Payable and Accrued Expenses$150$10,324▲ $10,174
Total Liabilities$150$10,324▲ $10,174
Net Assets / Fund Balance
Temporarily Rstr Net Assets-$88,513-
Unrestricted Net Assets$546--
Total Net Assets Fund Balance$546$88,513▲ $87,967
Total Liabilities and Net Assets / Fund Balance$696$98,837▲ $98,141

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$27,283$30,089▲ $3,673-$57,574
Compensation and Service Providers
Top Officer Pay75th percentile

Board Members and Trustees

NameTitle
Howard K HillPresident
Larry ConawayVice President
Carolyn VermontDirector
Rev Dr Eric B SmithDirector
Rolan Joni Young-smithDirector
Nancy HillSecretary
Yves Joseph IiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$245,314
Program Service Revenue
$0
Investment Income
$1,792
Other Revenue
$0
All Other Contributions
$245,314
Change in Net Assets
$58,486
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$120,633
Grants and Similar Amounts Paid$67,987
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$67,987--$67,987
Fees for Services Management$59,371$0$0$59,371
Conferences and Meetings$41,000$1,742$0$42,742
Information Technology$0$9,824$0$9,824
Office Expenses$0$3,844$0$3,844
Travel$0$3,463$0$3,463
Fees for Services Other$0$1,389$0$1,389
Total Functional Expenses$168,358$20,262$0$188,620
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
The Prosperity Foundation Inc
EIN
47-4364468
Phone
2039091315
Address
1287 CHAPEL ST, New Haven, CT 06511-4514

Signing Officer

Name
Yves Joseph Ii
Title
Treasurer
Phone
2039091315
Signed
2017-05-12
Discuss with paid preparer
Yes

Organization Details

Formed
2015
Legal Domicile
Ct
Voting Board Members
7
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
John a Watts CPA LLC
Address
525 BRIDGEPORT AVE STE 100, SHELTON, CT 06484-4700
Preparer
John a Watts
Phone
2039257733
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“Form 990 is prepared by an independent CPA, discussed and reviewed with treasurer prior to review and discussion with all officers and directors.”

Pt VI, Line 18

“Form 990 is made available upon written request.”

Pt VI, Line 2

“Howard K. Hill and Nancy Hill as well as Rolan Joni Young-Smith and Rev. Dr. Bruce Smith are married.”

Pt VI, Line 7A

“The Board of Directors, consisting of 7 members selected at the initial organizational meeting, conducts, governs, and manages the business of the organization. The Board of Director members serve until resignation or until a successor is elected and qualified by a majority of the current directors then serving. Directors are not compensated but the organization is authorized to purchase Director and Officers Liability Insurance.”

Pt VI, Line 12C

“The organization has a conflict of interest policy that is completed annually by the officers and directors. If any conflicts are identified, it is the practice of management to review and monitor the conflicts.”

Form 990EZ, Part I, Line 16

“MISC”

Form 990EZ, Part II, Line 26

“A/P - OTH 150.”

Form 990, Part IX, Line 24E

“Org'n incorp fee 0. 0. 0. 0.”

Form 990, Part IX, Line 24E

“Org'n Annual Rpt filing fee 0. 0. 0. 0.”

Form 990, Part IX, Line 24E

“Bank s/c 0. 0. 0. 0.”

Form 990, Part IX, Line 24E

“Phone 0. 0. 0. 0.”

Financial Statement Notes

Pt V, Line 4

“Endowment Funds are administered in accordance with the donor's intent with input from the board of directors. The board reviews uses of such funds to insure expenditures are in a manner consistent with the mission and purpose of the organization.”

Raw XML Appendix347 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Form 990 is prepared by an independent CPA, discussed and reviewed with treasurer prior to review and discussion with all officers and directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Form 990 is made available upon written request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Howard K. Hill and Nancy Hill as well as Rolan Joni Young-Smith and Rev. Dr. Bruce Smith are married.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Board of Directors, consisting of 7 members selected at the initial organizational meeting, conducts, governs, and manages the business of the organization. The Board of Director members serve until resignation or until a successor is elected and qualified by a majority of the current directors then serving. Directors are not compensated but the organization is authorized to purchase Director and Officers Liability Insurance.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The organization has a conflict of interest policy that is completed annually by the officers and directors. If any conflicts are identified, it is the practice of management to review and monitor the conflicts.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5MISC
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 12c
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990EZ, Part II, Line 26
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10Form 990, Part IX, Line 24e
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ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE PROSPERITY FOUNDATION INC
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ReturnHeader/FilingSecurityInformation/IPTm007:43:35
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0JOHN A WATTS CPA LLC
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ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$98,837
Liabilities
$10,324
Net assets
$88,513
Revenue
$247,106
Expenses
$188,620
Net income
$58,486
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.21$0.02$2.19$2.71$3.16$0.45
2023Detailed filing. Detailed filing data is available for this year.$3.99$1.92$2.07$1.96$2.00$0.04
2022Detailed filing. Detailed filing data is available for this year.$1.93$0.00$1.93$1.82$0.55$1.28
2021Detailed filing. Detailed filing data is available for this year.$1.36$0.73$0.63$0.85$0.75$0.09
2020Detailed filing. Detailed filing data is available for this year.$0.48$0.00$0.48$0.33$0.11$0.21
2019Detailed filing. Detailed filing data is available for this year.$0.23$0.00$0.23$0.16$0.17$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.18$0.00$0.18$0.09$0.12$0.03
2017Detailed filing. Detailed filing data is available for this year.$0.18$0.00$0.18$0.15$0.11$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.10$0.01$0.09$0.25$0.19$0.06