Prosper Inc

Nonprofit profile at a glance

EIN
461899951
IRS 990 coverage
2014–2020
Forms available
Form 990 2020
Location
Phoenix, AZ, USA
Phone
6024514292
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Alliance/Advocacy

Reported finances

Revenue
$241,000
Expenses
$244,524
Assets
$2,252
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

5 people listed

Highest reported compensation

  • KIMBERLY WOLD (EXECUTIVE DI): $107,500 total reported compensation
  • ASHLEY M RAGAN (TREASURER): $60,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The primary purpose of this organization is to promote social welfare by encouraging public understanding of and support for free market policies.

What it reported doing in 2020

Worked to educate people about investing in Arizona technology companies. Prosper was a sponsor of the 2020 invisionaz tech summit which was held to help promote and educate about the importance of Arizona technology and innovation sustainability.

Operating model

Revenue model
Donor-supported. 94% of the money available for current operations came from contributions and gifts.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 26
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.8%; rating input score 97
  • Program expense ratio: 95.4%; rating input score 95
  • Fundraising efficiency: Limited

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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1.5%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 0.01; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 85; 85th percentile among comparable filings
  • Officer compensation ratio: 68.5%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: -3.9% per year; rating input score 0; 31st percentile among comparable filings
  • Revenue growth: -4.9% per year; rating input score 0; 18th percentile among comparable filings
  • Asset growth: -25% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 96.8% of revenue deployed · 95.4% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $233K in reported program spending
  • Leadership: top reported pay $108K · 5 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 2 filed schedules · includes major donors
  • Filing history: 6 filing years from 2014 to 2020
  • Contacts: How to reach this organization
  • Money network: 2 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.

Key Signals

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

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.