Prosper Foundation
Nonprofit profile at a glance
- EIN
- 871572206
- IRS 990 coverage
- 2024–2024
- Forms available
- Form 990 2024
- Location
- Birmingham, AL, USA
- Phone
- 2053062061
- Rating
- 80
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Human Service Organizations
Reported finances
- Revenue
- $4,346,522
- Expenses
- $4,995,928
- Assets
- $6,002,289
- Liabilities
- $162,573
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
26 people listed
Executive titles in this filing
- JW CARPENTER (PRESIDENT)
Highest reported compensation
- JW CARPENTER (PRESIDENT): $259,561 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Prosper is a coalition of community, civic, and business leaders committed to creating the most thriving economy in the southeast by aligning birmingham and jefferson county around job creation, job preparation, and job access goals and strategies.
What it reported doing in 2024
Health tech accelerator connects cutting-edge, health technology startups to the coaching, capital, and connections they need to build and grow their businesses. The program aims to make birmingham the center of health technology solutions through investments in entrepreneurship, talent, and community engagements.
Operating model
- Revenue model
- Donor-supported. 71% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 86% 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
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 92
- Transparency & Controls: 72
- Accountability: 100
- Sustainability: 32
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 90.3%; rating input score 90
- Fundraising efficiency: $19.23 raised per $1 spent on fundraising; rating input score 58; 58th percentile among comparable filings
Transparency & Controls
- Consistency checks: 92.9%; rating input score 93; 13th 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: 100%; rating input score 100; 72nd percentile among comparable filings
- 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: -14.9%; rating input score 9; 9th percentile among comparable filings
- Total-asset coverage ratio: 1.2; rating input score 43; 43rd percentile among comparable filings
- Liabilities to assets ratio: 0.03; rating input score 77; 77th percentile among comparable filings
- Officer compensation ratio: 5.2%; rating input score 52; 52nd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 100% of revenue deployed · 90.3% of spending went to programs
- Governance: 25 of 25 board members independent · 8 of 8 filing controls reported
- Programs: 4 filed program accomplishments · $4.5M in reported program spending
- Leadership: top reported pay $260K · 26 people listed · 1 of 6 pay-setting controls reported
- Consistency: 31 of 32 current checks pass · 1 finding to review
- Schedules: 6 filed schedules · includes major donors, grants, and executive pay
- Contacts: How to reach this organization
- Money network: 6 filed money-flow records
- Related organizations: 5 filed related-organization links
- 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.
- High — Sustainability: Operating margin scored 9/100.
- Review — Financial Efficiency: Fundraising efficiency scored 58/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- Review — Sustainability: Officer compensation ratio scored 52/100.