Civic Intelligence

Prospera North Carolina LLC

990 • Fiscal year 2022 • EIN 82-1629344

Oct 01, 2021 to Sep 30, 2022 • Filed on Jul 11, 2023

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

81st percentile

0.42x

Higher debt load relative to assets than 81% of similar nonprofits.

2022 filings • NTEE P • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

89th percentile

0.64x

Higher debt load relative to revenue than 89% of similar nonprofits.

2022 filings • NTEE P • $500k-$1M nonprofits • Source year 2022

Net Margin

15th percentile

-17%

Higher net margin than 15% of similar nonprofits.

2022 filings • NTEE P • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

97th percentile

$285,263

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 58.4% of source-year revenue.

2022 filings • NTEE P • $500k-$1M nonprofits • Source year 2022

Asset Growth

44th percentile

1.4%

Faster asset growth than 44% of similar nonprofits.

2022 filings • NTEE P • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

6th percentile

-45%

Faster revenue growth than 6% of similar nonprofits.

2022 filings • NTEE P • $500k-$1M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$750,207

Up $10,305 (+1.4%) from 2021

Net Assets

Down

$436,528

Down $88,720 (-17%) from 2021

Liabilities

Up

$313,679

Up $99,025 (+46%) from 2021

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin15th percentile

Revenue

Down

$488,135

Down $402,390 (-45%) from 2021

Expenses

Up

$569,992

Up $180,518 (+46%) from 2021

Net Income

Down

-$81,857

Down $582,908 (-116%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth44th 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

2022

Assets$750,207
Liabilities$313,679
Net Assets$436,528
Open 2022 Filing

Operations Trend

Revenue Growth6th 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

2022

Revenue$488,135
Expenses$569,992
Net Income-$81,857
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2021 to Sep 30, 2022
Signed
Jul 11, 2023
Return Version
2021v4.2
Gross Receipts
$488,135
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 (continued on schedule o)

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$0$294,009▲ $294,009
Cash and Non-Interest-Bearing Accounts$660,765$263,632▼ $397,133
Pledges and Grants Receivable$72,237$184,291▲ $112,054
Land, Buildings, and Equipment, Net$6,768$7,591▲ $823
Prepaid Expenses and Deferred Charges$132$684▲ $552
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
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$739,902$750,207▲ $10,305
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$200,149$286,192▲ $86,043
Accounts Payable and Accrued Expenses$14,505$27,487▲ $12,982
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$214,654$313,679▲ $99,025
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$487,521$417,778▼ $69,743
Net Assets With Donor Restrictions$37,727$18,750▼ $18,977
Total Net Assets Fund Balance$525,248$436,528▼ $88,720
Total Liabilities and Net Assets / Fund Balance$739,902$750,207▲ $10,305

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$7,591$4,272$11,863
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jose D AlvarezVPFT$100,416$20,123$120,539

Board Members and Trustees

NameTitle
Boris AyalaChair
Augusto SanabriaPresident/CEO
Luz AvilesVice Chair
Luis E OteroCFO
Lori Duarte-robertsSecretary
Alexander SueiroTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$486,702
Program Service Revenue
$0
Investment Income
$1,433
Other Revenue
$0
All Other Contributions
$264,648
Change in Net Assets
$-81,857
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$420,252
Other Expenses$129,040
Total Fundraising Expense$84,931
Grants and Similar Amounts Paid$20,700
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$266,497$34,500$27,514$328,511
Other Employee Benefits$40,006$5,330$4,909$50,245
Fees for Services Other--$33,512$33,512
Payroll Taxes$19,802$2,482$2,554$24,838
Travel$21,969$1,697$741$24,407
Grants to Domestic Orgs$20,700--$20,700
Information Technology$15,300$1,900$2,800$20,000
Fees for Services Accounting$10,675$2,400$1,259$14,334
Current Officers, Directors, Trustees, and Key Employees$3,100-$9,400$12,500
Occupancy$8,662-$456$9,118
Office Expenses$6,748$1,369$121$8,238
Advertising$5,497-$500$5,997
Conferences and Meetings$4,750--$4,750
Pension Plan Contributions$3,127$482$549$4,158
Depreciation Depletion$1,559$104$416$2,079
Other Expenses-$324$200$324
Total Functional Expenses$428,392$56,669$84,931$569,992
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
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 Transactions$286,192
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
Yes
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 A, LINE 6:

“The company is a single member limited liability company. The company's sole member is hispanic business initiative fund of florida, inc.”

FORM 990, PART VI, SECTION A, LINE 7A:

“Each officer other than the president shall be appointed from among the managers of the company by the board of managers and approved by the member and shall serve a term of one year and until his or her successor has been elected and qualified, or until his or her death, adjudication of incompetency, resignation, or removal. The president shall be employed by the board of managers (after approval by the member)”

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

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

FORM 990, PART VI, SECTION 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
2023-07-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Augusto Sanabria
Formed
2017
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
4
Employees
6
Volunteers
18

Preparer

Firm
Bdo USA Pa
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 (CONTINUED):

“To establish or 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

SCHEDULE D, 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.”

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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 553 ATTENDEES TO THE EDUCATIONAL SESSIONS OFFERED IN SPANISH AND FREE OF CHARGE. CREATION, QUICKBOOKS TRAINING, AND LOAN APPLICATION PREPARATION. PROSPERA AWARDED ENTREPRENEURIAL GRANTS TO 553 BUSINESSES.
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IRS990/ReportLandBuildingEquipmentInd0true
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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/FormAndLineReferenceDesc0SCHEDULE D, PART X, LINE 2:
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IRS990ScheduleD/TotalLiabilityAmt0286192
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Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$750,207
Liabilities
$313,679
Net assets
$436,528
Revenue
$488,135
Expenses
$569,992
Net income
-$81,857
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