Civic Intelligence

Prospera North Carolina LLC

990 • Fiscal year 2021 • EIN 82-1629344

Oct 01, 2020 to Sep 30, 2021 • Filed on Aug 10, 2022

Organization ProfileWWW.PROSPERAUSA.ORG
3201 E COLONIAL DRIVE Suite A-20Orlando, FL 32803

(407) 428-5872

Siviq Scores

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

Liabilities / Assets

74th percentile

0.29x

Higher debt load relative to assets than 74% of similar nonprofits.

2021 filings • NTEE P • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

76th percentile

0.24x

Higher debt load relative to revenue than 76% of similar nonprofits.

2021 filings • NTEE P • $500k-$1M nonprofits • Source year 2021

Net Margin

91st percentile

56%

Higher net margin than 91% of similar nonprofits.

2021 filings • NTEE P • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

97th percentile

$275,367

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 30.9% of source-year revenue.

2021 filings • NTEE P • $500k-$1M nonprofits • Source year 2021

Asset Growth

56th percentile

18%

Faster asset growth than 56% of similar nonprofits.

2021 filings • NTEE P • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

94th percentile

186%

Faster revenue growth than 94% of similar nonprofits.

2021 filings • NTEE P • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets74th percentile

Assets

Up

$739,902

Up $112,367 (+18%) from 2020

Net Assets

Up

$525,248

Up $501,051 (+2071%) from 2020

Liabilities

Down

$214,654

Down $388,684 (-64%) from 2020

Revenue And Expenses
Liabilities / Revenue76th percentileNet Margin91st percentile

Revenue

Up

$890,525

Up $578,784 (+186%) from 2020

Expenses

Up

$389,474

Up $180,590 (+86%) from 2020

Net Income

Up

$501,051

Up $398,194 (+387%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth56th percentile

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

$2.0M$1.0M$0-$1.0MAssets 2019: $225,289Liabilities 2019: $303,949Net Assets 2019: -$78,6602019Assets 2020: $627,535Liabilities 2020: $603,338Net Assets 2020: $24,1972020Assets 2021: $739,902Liabilities 2021: $214,654Net Assets 2021: $525,2482021Assets 2022: $750,207Liabilities 2022: $313,679Net Assets 2022: $436,5282022Assets 2023: $1,328,254Liabilities 2023: $235,221Net Assets 2023: $1,093,0332023Assets 2024: $1,941,686Liabilities 2024: $233,366Net Assets 2024: $1,708,3202024

Highlighted filing

2021

Assets$739,902
Liabilities$214,654
Net Assets$525,248
Open 2021 Filing

Operations Trend

Revenue Growth94th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2019: $182,699Expenses 2019: $140,807Net Income 2019: $41,8922019Revenue 2020: $311,741Expenses 2020: $208,884Net Income 2020: $102,8572020Revenue 2021: $890,525Expenses 2021: $389,474Net Income 2021: $501,0512021Revenue 2022: $488,135Expenses 2022: $569,992Net Income 2022: -$81,8572022Revenue 2023: $1,519,000Expenses 2023: $860,020Net Income 2023: $658,9802023Revenue 2024: $1,682,287Expenses 2024: $1,079,019Net Income 2024: $603,2682024

Highlighted filing

2021

Revenue$890,525
Expenses$389,474
Net Income$501,051
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2020 to Sep 30, 2021
Signed
Aug 10, 2022
Return Version
2020v4.1
Gross Receipts
$894,864
Mission and Program Overview

Mission

To strengthen the economy of north carolina through quality business development and training to hispanic entrepreneurs.

Prospera nc is an economic development, nonprofit organization in nc specializing in providing bilingual assistance to hispanic entrepreneurs trying to establish or (sch o)

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$494,921$660,765▲ $165,844
Pledges and Grants Receivable$129,470$72,237▼ $57,233
Land, Buildings, and Equipment, Net$2,938$6,768▲ $3,830
Prepaid Expenses and Deferred Charges$206$132▼ $74
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$627,535$739,902▲ $112,367
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$346,924$200,149▼ $146,775
Deferred Revenue$191,970$0▼ $191,970
Accounts Payable and Accrued Expenses$64,444$14,505▼ $49,939
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$603,338$214,654▼ $388,684
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$24,197$487,521▲ $463,324
Net Assets With Donor Restrictions$0$37,727▲ $37,727
Total Net Assets Fund Balance$24,197$525,248▲ $501,051
Total Liabilities and Net Assets / Fund Balance$627,535$739,902▲ $112,367

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,768$2,193$8,961
Compensation and Service Providers
Top Officer Pay97th percentile

Board Members and Trustees

NameTitle
Augusto SanabriaPresident/CEO
Boris AyalaVice Chair
Jose SanchezSecretary
Alexander SueiroTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$893,620
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$-3,095
All Other Contributions
$546,383
Change in Net Assets
$501,051
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$313,055
Total Fundraising Expense$74,672
Other Expenses$65,969
Grants and Similar Amounts Paid$10,450
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$176,113$33,314$26,429$235,856
Other Employee Benefits$30,461$7,285$5,728$43,474
Fees for Services Other--$21,008$21,008
Payroll Taxes$12,756$2,708$2,598$18,062
Current Officers, Directors, Trustees, and Key Employees--$12,400$12,400
Grants to Domestic Orgs$10,450--$10,450
Fees for Services Accounting$7,501$1,466$589$9,556
Office Expenses$5,273$1,604$1,968$8,845
Occupancy$6,224-$328$6,552
Travel$2,431$741$2,402$5,574
Information Technology$4,290-$156$4,446
Other Expenses-$4,288$13$4,301
Pension Plan Contributions$2,559$301$403$3,263
Conferences and Meetings$2,985$50$10$3,045
Depreciation Depletion$963$64$256$1,283
Advertising$830-$161$991
Fees for Services Legal-$145$223$368
Total Functional Expenses$262,836$51,966$74,672$389,474
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$4,339
Fundraising Gross Income$1,244
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Intercompany$200,149
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION B, LINE 11:

“The president/ceo and board treasurer review form 990.”

FORM 990, PART VI, SEC B, LINE 12C:

“Our operating policy prohibits to provide grants to board members or immediate family members. They are required to annually sign a declaration of conflict of interest”

FORM 990, PART VI, SECTION B, LINE 15A:

“The president/ceo's salary and performance review is done by the executive committee of the board of a related organization on an annual basis. As part of the review, an independent compensation consultant was hired, which research included local and national compensation packages awarded to other non-profit organizations reported on salary surveys and form 990s.”

FORM 990, PART VI, SECTION C, LINE 19:

“The organization makes its records available upon request.”

Filing and Contact Details

Filer

Filer Name
Prospera North Carolina LLC
EIN
82-1629344
In Care Of
% AUGUSTO SANABRIA
Phone
4074285872
Address
3201 E COLONIAL DRIVE Suite A-20, ORLANDO, FL 32803

Signing Officer

Name
Augusto Sanabria
Title
President/CEO
Phone
4074285872
Signed
2022-08-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Augusto Sanabria
Formed
2017
Legal Domicile
Nc
Voting Board Members
4
Independent Board Members
4
Employees
4
Volunteers
35

Preparer

Firm
Bdo USA Llp
Address
450 S Orange Ave Suite 550, Orlando, FL 32801
Preparer
Jacob Cook
Phone
4078416930
Supplemental Narrative

Additional Explanations

FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:

“Expand their business in north carolina. Prospera's quality year-round professional services include educational programs, individual consulting and technical assistance, entrepreneurial grants for subcontracted services, and loan facilitation.”

Financial Statement Notes

PART X, LINE 2:

“The organization identifies and evaluates uncertain tax positions, if any, and recognizes the impact of uncertain tax positions for which there is a less than more likely-than-not probability of the position being upheld when reviewed by the relevant taxing authority. Such positions are deemed to be unrecognized tax benefits and a corresponding liability is established on the statement of financial position. The organization has not recognized a liability for uncertain tax positions. If there were an unrecognized tax benefit, the organization would recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. The organization's tax years subject to examination by the internal revenue service generally remain open for three years from the date of filing.”

Raw XML AppendixShowing 400 of 548 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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IRS990/ProgSrvcAccomActy2Grp/Desc0EDUCATIONAL ASSISTANCE: ORIENTATION SESSIONS PROVIDE BASIC INFORMATION ABOUT HOW TO START A BUSINESS. THE HISPANIC BUSINESS WORKSHOP SERIES OFFERS TRAINING ON SPECIFIC TOPICS THAT ASSIST ENTREPRENEURS IN MAKING CRITICAL DECISIONS TO ACHIEVE SUCCESS. PROSPERA HAD OVER 722 ATTENDEES TO THE EDUCATIONAL SESSIONS OFFERED IN SPANISH AND FREE OF CHARGE. CREATION, QUICKBOOKS TRAINING, AND LOAN APPLICATION PREPARATION. PROSPERA AWARDED ENTREPRENEURIAL GRANTS TO 722 BUSINESSES.
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IRS990/ProgSrvcAccomActy3Grp/Desc0GRANT PROGRAMS AWARDED GRANTS TO BUSINESSES
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0HISPANIC BUSINESS INITIATIVE FUND OF FLORIDA INC
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0INTERCOMPANY
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IDENTIFIES AND EVALUATES UNCERTAIN TAX POSITIONS, IF ANY, AND RECOGNIZES THE IMPACT OF UNCERTAIN TAX POSITIONS FOR WHICH THERE IS A LESS THAN MORE LIKELY-THAN-NOT PROBABILITY OF THE POSITION BEING UPHELD WHEN REVIEWED BY THE RELEVANT TAXING AUTHORITY. SUCH POSITIONS ARE DEEMED TO BE UNRECOGNIZED TAX BENEFITS AND A CORRESPONDING LIABILITY IS ESTABLISHED ON THE STATEMENT OF FINANCIAL POSITION. THE ORGANIZATION HAS NOT RECOGNIZED A LIABILITY FOR UNCERTAIN TAX POSITIONS. IF THERE WERE AN UNRECOGNIZED TAX BENEFIT, THE ORGANIZATION WOULD RECOGNIZE INTEREST ACCRUED RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES. THE ORGANIZATION'S TAX YEARS SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE GENERALLY REMAIN OPEN FOR THREE YEARS FROM THE DATE OF FILING.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0AUGUSTO SANABRIA
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT/CEO
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EXPAND THEIR BUSINESS IN NORTH CAROLINA. PROSPERA'S QUALITY YEAR-ROUND PROFESSIONAL SERVICES INCLUDE EDUCATIONAL PROGRAMS, INDIVIDUAL CONSULTING AND TECHNICAL ASSISTANCE, ENTREPRENEURIAL GRANTS FOR SUBCONTRACTED SERVICES, AND LOAN FACILITATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE PRESIDENT/CEO AND BOARD TREASURER REVIEW FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2OUR OPERATING POLICY PROHIBITS TO PROVIDE GRANTS TO BOARD MEMBERS OR IMMEDIATE FAMILY MEMBERS. THEY ARE REQUIRED TO ANNUALLY SIGN A DECLARATION OF CONFLICT OF INTEREST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PRESIDENT/CEO'S SALARY AND PERFORMANCE REVIEW IS DONE BY THE EXECUTIVE COMMITTEE OF THE BOARD OF A RELATED ORGANIZATION ON AN ANNUAL BASIS. AS PART OF THE REVIEW, AN INDEPENDENT COMPENSATION CONSULTANT WAS HIRED, WHICH RESEARCH INCLUDED LOCAL AND NATIONAL COMPENSATION PACKAGES AWARDED TO OTHER NON-PROFIT ORGANIZATIONS REPORTED ON SALARY SURVEYS AND FORM 990S.

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$739,902
Liabilities
$214,654
Net assets
$525,248
Revenue
$890,525
Expenses
$389,474
Net income
$501,051
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.94$0.23$1.71$1.68$1.08$0.60
2023Detailed filing. Detailed filing data is available for this year.$1.33$0.24$1.09$1.52$0.86$0.66
2022Detailed filing. Detailed filing data is available for this year.$0.75$0.31$0.44$0.49$0.57$0.08
2021Detailed filing. Detailed filing data is available for this year.$0.74$0.21$0.53$0.89$0.39$0.50
2020Detailed filing. Detailed filing data is available for this year.$0.63$0.60$0.02$0.31$0.21$0.10
2019Summary only. Only limited summary data is available for this year.$0.23$0.30$0.08$0.18$0.14$0.04