Delaware Prosperity Partnership Inc

Nonprofit profile at a glance

EIN
822881997
IRS 990 coverage
2017–2025
Forms available
Form 990 2025
Location
Wilmington, DE, USA
Phone
3024777497
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$3,210,956
Expenses
$3,173,036
Assets
$3,064,590
Liabilities
$410,387

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

36 people listed

Executive titles in this filing

  • WILLIAM KURT FOREMAN (FORMER PRESIDENT AND CEO)
  • REBECCA HARRINGTON (INTERIM PRESIDENT AND CEO)

Highest reported compensation

  • WILLIAM KURT FOREMAN (FORMER PRESIDENT AND CEO): $290,858 total reported compensation
  • REBECCA HARRINGTON (INTERIM PRESIDENT AND CEO): $188,467 total reported compensation
  • CHALRES MADDEN (DIRECTOR OF BUSINESS & TALENT): $162,838 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To lead the state of Delaware's economic development efforts.

What it reported doing in 2025

Activities developed to enhance business recruitment, promote entreprenuership and innovation, support workforce development efforts, and produce forward looking analysis on economic trends to best position Delaware's economy to grow.

Operating model

Revenue model
Grant-funded. 71% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 66
  • Accountability: 95
  • Sustainability: 30
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.3%; rating input score 77
  • Program expense ratio: 77.9%; rating input score 78
  • Fundraising efficiency: $23.09 raised per $1 spent on fundraising; rating input score 63; 63rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.2%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 0.97; rating input score 33; 33rd percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 43; 43rd percentile among comparable filings
  • Officer compensation ratio: 33.2%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: 11.9% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: 4.1% per year; rating input score 100; 30th percentile among comparable filings
  • Asset growth: 4.6% per year; rating input score 100; 31st percentile among comparable filings

Details

  • Where the money goes: 77.3% of revenue deployed · 77.9% of spending went to programs
  • Governance: 30 of 30 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.5M in reported program spending
  • Leadership: top reported pay $291K · 36 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 28 of 29 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 9 filing years from 2017 to 2025
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Sustainability: Operating margin scored 31/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 33/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 43/100.