Civic Intelligence

Prosperity Unlimited Inc

EIN 58-2108838 • 501(c)3 • Kannapolis, NC

Profile

To develop and empower communities through social and economic development which includes improving housing, jobs, culture, and education for low wealth citizens within Cabarrus county and surrounding communities.

1660 Garnet StreetKannapolis, NC 28083

www.prosperitycdc.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

7th percentile

0.00x

Higher debt load relative to assets than 7% of similar nonprofits.

NTEE L • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

7th percentile

0.01x

Higher debt load relative to revenue than 7% of similar nonprofits.

NTEE L • $1M-$5M nonprofits • Source year 2024

Net Margin

69th percentile

7.5%

Higher net margin than 69% of similar nonprofits.

NTEE L • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

62nd percentile

$109,555

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 22.9% of source-year revenue.

NTEE L • $1M-$5M nonprofits • Source year 2024

Asset Growth

64th percentile

1.0%

Faster asset growth than 64% of similar nonprofits.

NTEE L • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

14th percentile

-18%

Faster revenue growth than 14% of similar nonprofits.

NTEE L • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$3,521,463

Up $36,570 (+1.0%) from 2023

Liabilities

Up

$2,906

Up $503 (+21%) from 2023

Net Assets

Up

$3,518,557

Up $36,067 (+1.0%) from 2023

Revenue

Down

$478,985

Down $103,795 (-18%) from 2023

Expenses

Down

$442,918

Down $9,447 (-2.1%) from 2023

Net Income

Down

$36,067

Down $94,348 (-72%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $3,147,429Liabilities 2011: $1,602,209Net Assets 2011: $1,545,2202011Assets 2012: $3,132,126Liabilities 2012: $1,382,033Net Assets 2012: $1,750,0932012Assets 2013: $2,893,090Liabilities 2013: $1,094,338Net Assets 2013: $1,798,7522013Assets 2014: $2,998,465Liabilities 2014: $1,045,954Net Assets 2014: $1,952,5112014Assets 2015: $2,984,812Liabilities 2015: $620,584Net Assets 2015: $2,364,2282015Assets 2016: $2,707,552Liabilities 2016: $465,801Net Assets 2016: $2,241,7512016Assets 2017: $2,639,328Liabilities 2017: $394,382Net Assets 2017: $2,244,9462017Assets 2018: $2,580,705Liabilities 2018: $134,068Net Assets 2018: $2,446,6372018Assets 2019: $2,997,039Liabilities 2019: $97,612Net Assets 2019: $2,899,4272019Assets 2020: $3,257,070Liabilities 2020: $780Net Assets 2020: $3,256,2902020Assets 2021: $3,287,662Liabilities 2021: $780Net Assets 2021: $3,286,8822021Assets 2022: $3,352,855Liabilities 2022: $780Net Assets 2022: $3,352,0752022Assets 2023: $3,484,893Liabilities 2023: $2,403Net Assets 2023: $3,482,4902023Assets 2024: $3,521,463Liabilities 2024: $2,906Net Assets 2024: $3,518,5572024

Highlighted filing

2024

Assets$3,521,463
Liabilities$2,906
Net Assets$3,518,557

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2011: $1,202,475Expenses 2011: $1,211,341Net Income 2011: -$8,8662011Revenue 2012: $1,252,178Expenses 2012: $1,047,305Net Income 2012: $204,8732012Revenue 2013: $1,275,608Expenses 2013: $1,226,949Net Income 2013: $48,6592013Revenue 2014: $825,082Expenses 2014: $671,323Net Income 2014: $153,7592014Revenue 2015: $929,196Expenses 2015: $517,480Net Income 2015: $411,7162015Revenue 2016: $500,751Expenses 2016: $623,225Net Income 2016: -$122,4742016Revenue 2017: $918,888Expenses 2017: $780,400Net Income 2017: $138,4882017Revenue 2018: $546,545Expenses 2018: $442,293Net Income 2018: $104,2522018Revenue 2019: $940,483Expenses 2019: $487,693Net Income 2019: $452,7902019Revenue 2020: $790,193Expenses 2020: $433,330Net Income 2020: $356,8632020Revenue 2021: $512,735Expenses 2021: $482,143Net Income 2021: $30,5922021Revenue 2022: $548,872Expenses 2022: $483,679Net Income 2022: $65,1932022Revenue 2023: $582,780Expenses 2023: $452,365Net Income 2023: $130,4152023Revenue 2024: $478,985Expenses 2024: $442,918Net Income 2024: $36,0672024

Highlighted filing

2024

Revenue$478,985
Expenses$442,918
Net Income$36,067

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.52$0.00$3.52$0.48$0.44$0.04
2023Detailed filing. Detailed filing data is available for this year.$3.48$0.00$3.48$0.58$0.45$0.13
2022Detailed filing. Detailed filing data is available for this year.$3.35$0.00$3.35$0.55$0.48$0.07
2021Detailed filing. Detailed filing data is available for this year.$3.29$0.00$3.29$0.51$0.48$0.03
2020Detailed filing. Detailed filing data is available for this year.$3.26$0.00$3.26$0.79$0.43$0.36
2019Detailed filing. Detailed filing data is available for this year.$3.00$0.10$2.90$0.94$0.49$0.45
2018Detailed filing. Detailed filing data is available for this year.$2.58$0.13$2.45$0.55$0.44$0.10
2017Detailed filing. Detailed filing data is available for this year.$2.64$0.39$2.24$0.92$0.78$0.14
2016Detailed filing. Detailed filing data is available for this year.$2.71$0.47$2.24$0.50$0.62$0.12
2015Detailed filing. Detailed filing data is available for this year.$2.98$0.62$2.36$0.93$0.52$0.41
2014Summary only. Only limited summary data is available for this year.$3.00$1.05$1.95$0.83$0.67$0.15
2013Summary only. Only limited summary data is available for this year.$2.89$1.09$1.80$1.28$1.23$0.05
2012Summary only. Only limited summary data is available for this year.$3.13$1.38$1.75$1.25$1.05$0.20
2011Summary only. Only limited summary data is available for this year.$3.15$1.60$1.55$1.20$1.21$0.01
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 14, 2025
Return Version
2024v5.2
Gross Receipts
$478,985
Mission and Program Overview

Mission

To develop and empower communities through social and economic development which includes improving housing, jobs, culture, and education for low wealth citizens within Cabarrus county and surrounding communities

To educate individuals to build and maintain personal wealth that becomes the catalyst for personal and community sustainability and growth.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$772,469$1,053,406▲ $280,937
Other Notes and Loans Receivable, Net$1,065,855$1,043,781▼ $22,074
Savings and Temporary Cash Investments$938,698$912,311▼ $26,387
Land, Buildings, and Equipment, Net$370,158$351,781▼ $18,377
Cash and Non-Interest-Bearing Accounts$337,713$160,184▼ $177,529
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$3,484,893$3,521,463▲ $36,570
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$2,403$2,906▲ $503
Total Liabilities$2,403$2,906▲ $503
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,482,490$3,518,557▲ $36,067
Total Net Assets Fund Balance$3,482,490$3,518,557▲ $36,067
Total Liabilities and Net Assets / Fund Balance$3,484,893$3,521,463▲ $36,570

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$300,850$384,057$684,907
Equipment$10,001$60,358$70,359
Land$40,930-$40,930
Other Land Buildings-$5,818$5,818
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Louise MackCEOFT$91,300$18,255$109,555

Board Members and Trustees

NameTitle
Octavia AlexanderChair
Kim MiddlebrooksVice Chair
Tim DietrichBoard Member
Mildred CrewsSecretary
Annise JohnsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$195,912
Program Service Revenue
$246,197
Investment Income
$36,876
Other Revenue
$0
All Other Contributions
$195,912
Change in Net Assets
$36,067

Audited Revenue Reconciliation

Revenue per Audited Statements
$478,985
Total Revenue per Audited Statements
$478,985
Total Revenue per Form 990
$478,985
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$312,752
Other Expenses$130,166
Total Fundraising Expense$7,563
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$116,059$16,160$2,518$134,737
Current Officers, Directors, Trustees, and Key Employees$94,368$13,139$2,048$109,555
Other Employee Benefits$43,615$6,073$946$50,634
Depreciation Depletion$24,722$781$520$26,023
Insurance$12,653$6,742$267$19,662
Payroll Taxes$15,355$2,138$333$17,826
Fees for Services Other$8,086$9,000-$17,086
All Other Expenses$14,906$1,497$264$16,667
Other Expenses$5,854$249$123$6,226
Travel$2,429$284$45$2,758
Office Expenses$2,322$323$51$2,696
Total Functional Expenses$378,298$57,057$7,563$442,918

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$442,918
Total Expenses per Audited Statements$442,918
Total Expenses per Form 990$442,918
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
Yes
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

Governance Explanations

Form 990, Part VI, Section B, Line 11B

A draft of form 990 will be sent electronically to board members with one day allowed for questions or comments.

Form 990, Part VI, Section B, Line 12C

Board members are required to disclose affiliations and conflicts at board meetings and disclosures are noted in the meeting minutes.

Form 990, Part VI, Section B, Line 15A

The Board determines the CEO compensation based on the 2015 Nonprofit Organizations North Carolina State Salary and Benefits Survey for the role of President/CEO plus takes into consideration that the CEO also fills the role of Lead Pre-purchase Counselor and the Instructor of all non-foreclosure prevention workshops.

Form 990, Part VI, Section C, Line 19

Documents are kept on file and made available upon request.

Filing and Contact Details

Filer

Filer Name
Prosperity Unlimited Inc
EIN
58-2108838
Phone
7049337405
Address
1660 Garnet Street, Kannapolis, NC 28083

Signing Officer

Name
Louise Mack
Title
CEO
Signed
2025-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Louise Mack
Formed
1993
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
10
Volunteers
5

Preparer

Firm
Foard and Company PA
Address
1347 Harding Place, Charlotte, NC 28204
Preparer
Terry W Lancaster
Phone
7043721515
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IRS990/OtherExpensesGrp/Desc1Software
IRS990/OtherExpensesGrp/Desc2Repairs and Maintenance
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IRS990/OtherExpensesGrp/ProgramServicesAmt35854
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Louise Mack
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0541990
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/BusinessCd2900099
IRS990/ProgramServiceRevenueGrp/BusinessCd3900099
IRS990/ProgramServiceRevenueGrp/BusinessCd4531110
IRS990/ProgramServiceRevenueGrp/Desc0Counseling
IRS990/ProgramServiceRevenueGrp/Desc1Development Fees
IRS990/ProgramServiceRevenueGrp/Desc2Program - Other
IRS990/ProgramServiceRevenueGrp/Desc3Program NCHFA
IRS990/ProgramServiceRevenueGrp/Desc4Rental Income
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt069130
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt133643
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt236625
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt386000
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt420799
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt133643
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt236625
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt386000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt420799
IRS990/ProgSrvcAccomActy2Grp/Desc0The organization develops and maintain affordable housing units for low to moderate individuals for rental and/or purchase.
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IRS990/ProgSrvcAccomActy2Grp/RevenueAmt020799
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IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
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IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0158884
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0293231
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt01315
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt071822
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt01675681
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0293231
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01144836
IRS990ScheduleA/TotalSupportAmt01237794
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt0300850
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IRS990ScheduleD/EquipmentGrp/BookValueAmt010001
IRS990ScheduleD/EquipmentGrp/DepreciationAmt060358
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt070359
IRS990ScheduleD/ExpensesSubtotalAmt0442918
IRS990ScheduleD/LandGrp/BookValueAmt040930
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt040930
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt05818
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt05818
IRS990ScheduleD/RevenueSubtotalAmt0478985
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0351781
IRS990ScheduleD/TotalBookValueSecuritiesAmt01053406
IRS990ScheduleD/TotalExpensesPerForm990Amt0442918
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IRS990/ScheduleJRequiredInd0false
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A draft of form 990 will be sent electronically to board members with one day allowed for questions or comments.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Board members are required to disclose affiliations and conflicts at board meetings and disclosures are noted in the meeting minutes.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Board determines the CEO compensation based on the 2015 Nonprofit Organizations North Carolina State Salary and Benefits Survey for the role of President/CEO plus takes into consideration that the CEO also fills the role of Lead Pre-purchase Counselor and the Instructor of all non-foreclosure prevention workshops.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Documents are kept on file and made available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
IRS990ScheduleR/AssetExchangeInd0false
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IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd1false

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