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Nonprofiteer
← PROSPECT FOUNDATION INC

Form 990 for tax year 2023

Filed by PROSPECT FOUNDATION INC.

Totals

Total revenue
$116,632
Total expenses
$43,230
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$116,632
Other revenue
$0
Total assets, end of year
$945,218
Total liabilities, end of year
$723,199
Net assets or fund balances, end of year
$222,019
Program services expenses (Part IX)
$0
Management and general expenses
$48
Fundraising expenses
$43,182
Program service expenses (Part III)
not reported

Program services were 0.0% 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.

  • 3 · Investment income

    total $21,509 · excluded $21,509

  • 7a · Gross sales of assets other than inventory

    securities $750,000

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

    securities $654,877

  • 7c · Gain or loss

    securities $95,123

  • 7d · Net gain or loss

    total $95,123 · excluded $95,123

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $2,050 · fundraising $2,050

  • 24a · Other expenses: MANAGEMENT FEE RELATED

    total $41,132 · fundraising $41,132

  • 24b · Other expenses: MISCELLANEOUS EXPENSE

    total $48 · management and general $48

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $207 · end of year $1,109

  • 12 · Investments: other securities

    beginning of year $827,477 · end of year $944,109

  • 25 · Other liabilities

    beginning of year $679,067 · end of year $723,199

  • 27 · Net assets without donor restrictions

    beginning of year $148,617 · end of year $222,019

Mission and programs · 2023

Mission

PROSPECT FOUNDATION IS A SUPPORTING ORGANIZATION OF PROSPECT HOUSE. THE PROSPECT FOUNDATION IS ORGANIZED AND OPERATED FOR THE BENEFIT OF PROSPECT HOUSE. PROSPECT HOUSE IS A SECTION 501(C) PUBLIC ORGANIZATION THAT WAS FORMED TO PROVIDE A RECOVERY FACILITY FOR CHEMICALLY DEPENDENT MEN.

  • TO SUPPORT AFFILIATE-PROSPECT HOUSE, INC.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Richard Curry

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Rob Sauerland

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Brian Chapman

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • David Logan

    FORMER MEMBER

    Total calculated
    $25,025
    From this org
    $0
    From related orgs
    $25,025
    Other
    $0
    Hours/week
    10

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.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
14 January 2025
IRS schema version
2023v6.0
Source object
202500279349300965

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