Prepare and Prosper
Nonprofit profile at a glance
- EIN
- 237131829
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- St Paul, MN, USA
- Phone
- 6512622155
- Rating
- 88
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Financial Counseling
Reported finances
- Revenue
- $2,777,225
- Expenses
- $3,407,399
- Assets
- $1,478,737
- Liabilities
- $564,797
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
12 people listed
Executive titles in this filing
- Suyapa Miranda (Executive Director)
Highest reported compensation
- Suyapa Miranda (Executive Director): $148,955 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Prepare + Prosper and its volunteers work with low- to moderate-income people to build financial well-being through free tax preparation and financial services, products, and coaching, and by changing systems to create economic opportunity.
What it reported doing in 2024
P + P has worked to leverage the expertise of its staff, amplify the voices of people directly affected, and build cross sector partnerships and networks to inform policy and systems change and build a more equitable and inclusive financial future. Recent efforts include strengthening public policy related to tax credits, asset building and consumer protection. In 2025, P+P continued to enhance it's Systems Change department with the intention of positioning the families we serve as the key stakeholders within the systems and policies that affect them. The department focuses on bringing forth the voices and lived experiences of the many and varied communities we serve to guide our work and inform our change-making agenda. Systems change work includes advocacy, community engagement, network and capacity-building activities.
Operating model
- Revenue model
- Grant-funded. 76% 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.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 87
- Transparency & Controls: 92
- Accountability: 100
- Sustainability: 17
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 85.2%; rating input score 85
- Fundraising efficiency: $8.32 raised per $1 spent on fundraising; rating input score 32; 32nd percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 8 of 8 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- 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: -22.7%; rating input score 6; 6th percentile among comparable filings
- Total-asset coverage ratio: 0.43; rating input score 15; 15th percentile among comparable filings
- Liabilities to assets ratio: 0.38; rating input score 28; 28th percentile among comparable filings
- Officer compensation ratio: 4.4%; rating input score 58; 58th percentile among comparable filings
Growth
- Program expense growth: 7% per year; rating input score 100; 50th percentile among comparable filings
- Revenue growth: 5.5% per year; rating input score 100; 45th percentile among comparable filings
- Asset growth: 8.6% per year; rating input score 100; 52nd percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 85.2% of spending went to programs
- Governance: 11 of 11 board members independent · 8 of 8 filing controls reported
- Programs: 3 filed program accomplishments · $2.9M in reported program spending
- Leadership: top reported pay $149K · 12 people listed
- Consistency: 33 of 33 current checks pass
- Schedules: 4 filed schedules · includes major donors
- Filing history: 13 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: Filed and resolved organization relationships.
- 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.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Financial Efficiency: Fundraising efficiency scored 32/100.
- High — Sustainability: Operating margin scored 6/100.
- High — Sustainability: Total-asset coverage ratio scored 15/100.
- High — Sustainability: Liabilities to assets ratio scored 28/100.
- Review — Sustainability: Officer compensation ratio scored 58/100.