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Nonprofiteer
← PROSPERITYME

Form 990 for tax year 2024

Filed by PROSPERITYME.

Totals

Total revenue
$2,534,123
Total expenses
$2,146,604
Contributions and grants received
$2,397,221
Grants paid
$283,364
Program service revenue
$0
Investment income
$160,347
Other revenue
-$23,445
Total assets, end of year
$5,115,189
Total liabilities, end of year
$860,654
Net assets or fund balances, end of year
$4,254,535
Program services expenses (Part IX)
$1,498,304
Management and general expenses
$434,637
Fundraising expenses
$213,663
Program service expenses (Part III)
$1,498,304

Program services were 69.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $142,880

  • 1e · Government grants (contributions)

    $1,053,009

  • 1f · All other contributions, gifts and grants

    $1,201,332

  • 1g · Noncash contributions included above

    $540,904

  • 3 · Investment income

    total $174,423 · excluded $174,423

  • 7a · Gross sales of assets other than inventory

    securities $515,389

  • 7b · Less cost or other basis and sales expenses

    securities $529,465

  • 7c · Gain or loss

    securities -$14,076

  • 7d · Net gain or loss

    total -$14,076 · excluded -$14,076

  • 8a · Fundraising events: gross income

    $5,349

  • 8a · Fundraising events: contributions included on line 1c

    $142,880

  • 8b · Fundraising events: direct expenses

    $43,991

  • 8c · Net income from fundraising events

    total -$38,642 · excluded -$38,642

  • 11a · Other revenue: OTHER INCOME

    total $15,197 · excluded $15,197

  • 11e · Other revenue, total

    $15,197

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $5,616 · program services $5,616

  • 2 · Grants to domestic individuals

    total $277,748 · program services $277,748

  • 5 · Compensation of officers, directors and key employees

    total $203,217 · program services $71,126 · management and general $60,965 · fundraising $71,126

  • 7 · Other salaries and wages

    total $1,114,035 · program services $832,853 · management and general $195,015 · fundraising $86,167

  • 8 · Pension plan contributions

    total $25,904 · program services $19,560 · management and general $4,391 · fundraising $1,953

  • 9 · Other employee benefits

    total $65,949 · program services $48,121 · management and general $12,378 · fundraising $5,450

  • 10 · Payroll taxes

    total $98,365 · program services $67,832 · management and general $19,012 · fundraising $11,521

  • 11c · Fees: accounting

    total $44,887 · management and general $44,887

  • 11f · Fees: investment management

    total $5,631 · management and general $5,631

  • 11g · Fees: other

    total $84,035 · program services $36,079 · management and general $47,565 · fundraising $391

  • 12 · Advertising and promotion

    total $14,109 · fundraising $14,109

  • 13 · Office expenses

    total $2,525 · fundraising $2,525

  • 16 · Occupancy

    total $103,286 · program services $68,590 · management and general $30,047 · fundraising $4,649

  • 17 · Travel

    total $12,060 · program services $9,758 · management and general $2,302

  • 19 · Conferences, conventions and meetings

    total $7,808 · program services $4,770 · management and general $1,216 · fundraising $1,822

  • 22 · Depreciation, depletion and amortization

    total $2,477 · program services $2,477

  • 23 · Insurance

    total $7,165 · program services $5,144 · management and general $1,753 · fundraising $268

  • 24a · Other expenses: SUPPLIES

    total $39,379 · program services $30,934 · management and general $5,398 · fundraising $3,047

  • 24b · Other expenses: DUES & SUBSCRIPTIONS

    total $30,778 · program services $16,161 · management and general $4,052 · fundraising $10,565

  • 24c · Other expenses: OTHER

    total $1,630 · program services $1,535 · management and general $25 · fundraising $70

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $727,064 · end of year $936,183

  • 2 · Savings and temporary cash investments

    beginning of year $5,731,511 · end of year $2,508,639

  • 3 · Pledges and grants receivable

    beginning of year $353,451 · end of year $242,226

  • 10a · Land, buildings and equipment: cost or other basis

    $32,233

  • 10b · Land, buildings and equipment: accumulated depreciation

    $19,012

  • 10c · Land, buildings and equipment, net

    beginning of year $5,074 · end of year $13,221

  • 11 · Investments: publicly traded securities

    end of year $1,363,064

  • 15 · Other assets

    beginning of year $111,736 · end of year $51,856

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,295,085 · end of year $79,577

  • 19 · Deferred revenue

    beginning of year $660,383 · end of year $732,608

  • 25 · Other liabilities

    beginning of year $124,836 · end of year $48,469

  • 27 · Net assets without donor restrictions

    beginning of year $2,557,192 · end of year $3,111,561

  • 28 · Net assets with donor restrictions

    beginning of year $1,291,340 · end of year $1,142,974

Mission and programs · 2024

Mission

PROSPERITYME EMPOWERS, THROUGH EDUCATION AND COUNSELING, MEMBERS OF REFUGEE AND IMMIGRANT COMMUNITIES TO INVEST IN THEMSELVES TO BUILD FINANCIAL STABILITY, CAREERS, BUSINESSES AND WEALTH.

  • THE HOUSING PROGRAM WORKS WITH IMMIGRANT INDIVIDUALS AND FAMILIES AT RISK OF HOMELESSNESS TO CREATE A LONG-TERM PLAN FOR HOUSING AND FINANCIAL STABILITY. THE GOAL IS TO REDUCE THE LENGTH OF TIME FAMILIES SPEND IN HOMELESSNESS OR PRECARIOUS HOUSING SITUATIONS, SUCCESSFULLY LEASE FAMILIES IN PERMANENT HOUSING, AND LIMIT RETURNS TO HOMELESSNESS WITHIN THE FIRST YEAR OF BEING HOUSED. PROSPERITYME PROVIDED HOUSING NAVIGATION SERVICES TO 450 HOUSEHOLDS AND HOUSED 115 INDIVIDUALS AND FAMILIES IN 2024.

    Expenses $661,155 · Grants $186,590

  • FINANCIAL LITERACY: PROSPERITYME PROVIDED COURSES IN BASIC MONEY MANAGEMENT, WOMENS ECONOMIC EMPOWERMENT, FINANCIAL COACHING AND COUNSELING SERVICES. IN 2024 PROSPERITYME SERVED 365 STUDENTS THROUGH FINANCIAL EDUCATION CLASSES, WOMEN'S ECONOMIC EMPOWERMENT PROGRAMMING, HOW TO BE A SUCCESSFUL TENANT AND 38 CLIENTS THROUGH INDIVIDUAL SESSIONS.

    Expenses $317,477 · Grants $49,942

  • THE HOME ENERGY ASSISTANCE PROGRAM: THE HOME ENERGY ASSISTANCE PROGRAM (HEAP) IS A PROGRAM THAT PROVIDES A FIXED AMOUNT OF FUNDING TO MAINE EACH YEAR FROM THE FEDERAL GOVERNMENT. THE HOME ENERGY ASSISTANCE PROGRAM (HEAP) HELPS QUALIFIED HOMEOWNERS AND RENTERS PAY FOR HEATING COSTS. BENEFITS INCLUDE HELP PAYING FOR FUEL AND EMERGENCY FUEL DELIVERY. YOU CAN ALSO QUALIFY FOR ENERGY-RELATED REPAIRS IF YOU ARE ELIGIBLE FOR HEAP. PROSPERITYME STAFF ASSISTED 283 FAMILIES WITH HEAP IN 2024.

    Expenses $196,065

  • THE PEER WORKFORCE NAVIGATOR PROJECT IS A COALITION OF COMMUNITY-BASED ORGANIZATIONS THAT HELP PEOPLE MAKE CONNECTIONS WITH EDUCATION AND TRAINING, APPRENTICESHIPS, UNEMPLOYMENT INSURANCE, HEALTHCARE, PUBLIC BENEFITS, AND THINGS THEY NEED TO GET AND KEEP A GOOD JOB. PROSPERITYME SERVED OVER 1,100 INDIVIDUALS WITH THIS PROGRAM. THE SCHOLARSHIP FOR ASYLUM SEEKER PROGRAM: THE SCHOLARSHIP PROGRAM IS AN EDUCATION RESOURCE THAT HELPS ASYLUM-SEEKERS OBTAIN AN ASSOCIATE DEGREE AT A COMMUNITY COLLEGE FOR TWO YEARS OR VOCATION CERTIFICATE. AWARDEES ARE MATCHED WITH PROFESSIONAL MENTORS TO HELP THEM BUILD A NETWORK AND FIND A JOB. PROSPERITYME AWARDED SCHOLARSHIPS TO 15 STUDENTS IN 2024. INDIVIDUAL DEVELOPMENT ACCOUNTS: THE IDA PROGRAM IS A MULTIFACETED FINANCIAL EDUCATION AND MATCHED SAVINGS PROGRAM AIMED AT SUPPORTING LOW AND MODERATE INCOME IMMIGRANT HOUSEHOLDS IN THEIR JOURNEY TO FINANCIAL STABILITY. THE PROGRAM PROVIDES 1:1 SUPPORT AND MATCHED SAVINGS FOR INDIVIDUALS AND HOUSEHOLDS WHO ARE PURSUING POST-SECONDARY EDUCATION AND THE STARTUP OF A SMALL BUSINESS. IN 2024 THE PROGRAM ENROLLED 11 SAVERS; 8 WITH A GOAL TO START OR GROW A NEW BUSINESS, AND 3 WHO ARE PURSUING HIGHER EDUCATION.

    Expenses $323,607 · Grants $46,833

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • CLAUDE K RWAGANJE

    EXECUTIVE DI

    Total calculated
    $203,217
    From this org
    $197,508
    From related orgs
    $0
    Other
    $5,709
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $174,808
    Bonus
    $15,500
    Other
    $7,200
    Deferred
    $5,709
    Nontaxable benefits
    not reported
    Filer's total
    $203,217

  • MICHELLE ALLEN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MARY AXELSEN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • PATRICK CLANCY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • EILEEN FONGEMIE

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • MARTHA FOX

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • TARA JENKINS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • E'NKUL KANAKAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • TYLER NOROD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • GIMBALA SANKARE

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • COLETTE TWIGG-ROWSE

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • SHERRIN VAIL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • REBECCA WINSLOW

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
18 July 2025
IRS schema version
2024v5.0
Source object
202532049349301373

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