Prosperity Works

Filing Period

Oct 1, 2011 to Sep 30, 2012

Signed

May 3, 2013

Return Version

2011v1.5

Gross Receipts

$445,448

Mission

Major Activities

Activity 2

Consumer AdvocacyOur consumer advocacy has focused on: Energy efficiency programs paid for by New Mexicos utility companies that reduce the energy costs of limited-income families; Fair utility rates (gas, propane); Elimination of charges, such as late fees, that increase a familys utility bill.This year, Prosperity Works focused on preventing the PNM rate hikes. This resulted in consumer savings of $58M over next 3 years; sustainable policy change has been measurable.New Mexico Gas Company also sought to raise its rates this year. Their original application sought $34.5 million dollars in increase revenue, and it raised the customer charge by $3. It also did not restrict the Gas Company from immediately seeking another increase as soon as the present one was implemented. The final Uncontested Stipulation, conversely, reduces the increase from $34.5 to $21 million, reduces the customer charge increase and includes a moratorium on any additional rate increases until July 2013. Under the newly negotiated plan, customers will see on average a $3.19 monthly increase in their natural-gas bills next year rather than the 13% increase proposed by the original application.

Activity 3

Childrens Economic SecurityThe welfare of New Mexicos children is addressed through development of products and services that open the door to an affordable and accessible financial industry. During FY2012 Prosperity Works worked with community partners to design a pilot program to deliver matched Childrens Savings Accounts in the South Valley of Albuquerque during FY2013. The economic security of marginalized family units is being addressed through the Opportunity Starts Here project, which increases utilization of US financial and educational systems, while assisting low-income, single immigrant mothers and their children living in Central and Southeast New Mexico. A loan fund specific to fees related to immigration was designed and launched with Native Community Finance as the lending partner and New Mexico Immigration Law Center as the referring partner.

Filer

EIN

85-0466059