The Prospect Advancement Fund
Nonprofit profile at a glance
- EIN
- 920403094
- IRS 990-PF coverage
- 2022–2024
- Forms available
- Form 990-PF 2024
- Location
- Lawrence, MA, USA
- Phone
- 6177561291
- Rating
- 84
- Verdict
- STRONG
- Rating confidence
- Standard
- Sector
- Private Independent Foundations
Reported finances
- Revenue
- $87,983
- Expenses
- $59,319
Source: IRS Form 990-PF. Selected filing: tax year 2024. Amounts in USD.
Overview
Mission
Private Independent Foundations
What it reported funding in 2024
The foundation reported 5 grants totaling $29,349. The stated grant purposes included fellowships for young men of color, general purposes, and fellowships for black male educators, plus 1 other reported purpose.
Operating model
- Revenue model
- Mixed. The foundation's positive operating resources came from several sources; no one source provided a clear majority.
- Distribution model
- Grant intermediary. The foundation distributed 60% of its reported charitable disbursements as grants.
- Includes asset-sale income: Asset-sale income is shown separately from recurring resources when classifying the revenue model.
The verdict
STRONG - A large share of available resources goes to charitable grants and the filing identifies who received its grants. A relatively small share of spending goes to grants and the filing reports one or more activities that warrant closer review.
Rating breakdown
- Grant Deployment: 89
- Cost Efficiency: 49
- Transparency: 100
- Compliance: 94
- Endowment Health: 91
Detailed rating inputs
Grant Deployment
- Grant deployment ratio: 88.9%; rating input score 89; 25th percentile among comparable filings
Cost Efficiency
- Grant expense ratio: 49.5%; rating input score 49; 14th percentile among comparable filings
Transparency
- Grant recipient disclosure: Yes; rating input score 100
Compliance
- Part VII-B activity disclosures: 17 of 19 controls in place; rating input score 89
- Property sale or exchange with a disqualified person: Pass
- Borrowing from or lending to a disqualified person: Pass
- Goods, services, or facilities involving a disqualified person: Pass
- Compensation paid to a disqualified person: Fail
- Assets transferred to a disqualified person: Pass
- Payment to a government official: Pass
- Uncorrected prior self-dealing: Missing
- Prior-year undistributed income: Pass
- Excess business holdings: Pass
- Investments that may jeopardize charitable purposes: Pass
- Uncorrected prior-year jeopardizing investments: Pass
- Attempt to influence legislation: Pass
- Attempt to influence an election: Pass
- Grants to individuals: Pass
- Grants to organizations: Pass
- Spending for a noncharitable purpose: Pass
- Funds received for a personal-benefit contract: Pass
- Premiums paid on a personal-benefit contract: Pass
- Prohibited tax-shelter transaction: Pass
- Filing consistency checks: 10; rating input score 100
Endowment Health
- Endowment-health comparison: 34.67; rating input score 91; 91st percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Grants: 100% of grant recipient detail disclosed
- Payout: 88.9% grant deployment rate
- Trustees: Filed trustees detail
- Self-dealing: 100% of reviewed questions answered “No”
- Investments: 91th percentile for endowment coverage
- Consistency: 10 of 10 current checks pass
- Schedules: 1 filed schedules
- Filing history: 3 filing years from 2022 to 2024
- Contacts: How to reach this organization
- Money network: 6 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.
- Moderate — Cost Efficiency: Grant expense ratio scored 49/100.
- Review — Compliance: Part VII-B activity disclosures: Compensation paid to a disqualified person not reported.