Prosperity Works

Nonprofit profile at a glance

EIN
850466059
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Albuquerque, NM, USA
Phone
5052172747
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Management & Technical Assistance

Official website

Reported finances

Revenue
$857,206
Expenses
$931,160
Assets
$1,523,884
Liabilities
$1,227,232

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • DR ANN LYN HALL (CEO)

Highest reported compensation

  • DR ANN LYN HALL (CEO): $139,463 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Prosperity works builds the capacity of organizations and advocates for policies that generate economic prosperity for all new mexicans. Through this work, we implement a vision that every new mexican has the opportunity, knowledge and relationships to achieve economic prosperity.

What it reported doing in 2024

Financial inclusion and opportunity- individual development accounts (idas) have been deployed to encourage savings, investment and asset accumulation among moderate income and working families. Idas are matched savings accounts that are used to (a) buy a first home (b) pursue post secondary education (c) start or expand a small business (d)purchase a car to go to work or school (e) repair a home. In counties throughout New Mexico, prosperity works and its partners use idas to stabilize families financially, assist them in building assets, and build strong communities. It is with banks, credit unions, NGO's and public and private investments that we are able to operate the New Mexico assets consortium that manages this rural and urban delivery system.

Operating model

Revenue model
Donor-supported. 76% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 81% 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: 80
  • Transparency & Controls: 94
  • Accountability: 84
  • Sustainability: 30
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.6%; rating input score 85
  • Program expense ratio: 77.9%; rating input score 78
  • Fundraising efficiency: $24.58 raised per $1 spent on fundraising; rating input score 64; 64th 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: 100%; rating input score 100; 76th 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: 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: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -8.6%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 1.64; rating input score 59; 59th percentile among comparable filings
  • Liabilities to assets ratio: 0.81; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 15%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: -1.9% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: 2.4% per year; rating input score 100; 27th percentile among comparable filings
  • Asset growth: -1.4% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 84.6% of revenue deployed · 77.9% of spending went to programs
  • Governance: 5 of 5 board members independent · 5 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $725K in reported program spending
  • Leadership: top reported pay $139K · 6 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 15 filing years from 2010 to 2024
  • 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.
  • 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 19/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 59/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • High — Sustainability: Officer compensation ratio scored 23/100.