Prosperity Catalyst Inc

Nonprofit profile at a glance

EIN
272911776
IRS 990 coverage
2013–2022
Forms available
Form 990 2022, Form 990-EZ 2011
Location
Beverly, MA, USA
Phone
6179360187
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
International Relief

Official website

Reported finances

Revenue
$937,534
Expenses
$890,705
Assets
$212,186
Liabilities
$169,642

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • CATHERINE GIBBONS (EXECUTIVE DIRECTOR)

Highest reported compensation

  • CATHERINE GIBBONS (EXECUTIVE DIRECTOR): $85,964 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Prosperity catalyst develops and strengthens women-led businesses in distressed regions, providing business and technical training, creating opportunities for women to achieve economic and social empowerment.

What it reported doing in 2022

In 2013, not long after the earthquake, pcat started working in haiti, by providing business management training to 100 women in cap-haitian and launching a women-led candle production and export company called fanm limye (women illuminated), a for-profit business, which is 97% owned by prosperity catalyst with each of the remaining shares owned by two pcat board members and the current executive director. Fanm limye is also registered in haiti as a local nonprofit. In january 2015, pcat moved the operation to port-au-prince (pap), where there would be easier and cheaper access to supplies and to both local and export markets.the group of women trained in candle-making in pap found that their production was hampered by high quality beeswax, so pcat decided to work with local beekeepers starting in 2016. To date, we have trained 1,108 beekeepers, 62% women in 5 communes of the west department and 3 communes of nippes department. This year we added agroforestry training to the 32 beekeeping communities and planted another 25,000 trees. We are also launching a maternal child health and nutrition component.

Operating model

Revenue model
Donor-supported. 100% 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

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 58
  • Accountability: 100
  • Sustainability: 32
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.6%; rating input score 76
  • Program expense ratio: 81.5%; rating input score 81
  • Fundraising efficiency: $16.23 raised per $1 spent on fundraising; rating input score 52; 52nd 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: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • 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: 5%; rating input score 50; 50th percentile among comparable filings
  • Total-asset coverage ratio: 0.24; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: 0.8; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 9.7%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: 5.3% per year; rating input score 100; 49th percentile among comparable filings
  • Revenue growth: 11.6% per year; rating input score 100; 72nd percentile among comparable filings
  • Asset growth: 9.7% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 75.6% of revenue deployed · 81.5% of spending went to programs
  • Governance: 10 of 10 board members independent · 8 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $726K in reported program spending
  • Leadership: top reported pay $86K · 11 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 6 filed schedules · includes major donors and foreign activity
  • Filing history: 10 filing years from 2013 to 2022
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 52/100.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.
  • Review — Sustainability: Operating margin scored 50/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.