Totals
- Total revenue
- $574,696
- Total expenses
- $710,512
- Contributions and grants received
- $512,737
- Grants paid
- $0
- Program service revenue
- $59,493
- Investment income
- $1,185
- Other revenue
- $1,281
- Total assets, end of year
- $149,249
- Total liabilities, end of year
- $13,853
- Net assets or fund balances, end of year
- $135,396
- Program services expenses (Part IX)
- $560,068
- Management and general expenses
- $106,144
- Fundraising expenses
- $44,300
- Program service expenses (Part III)
- $560,068
Program services were 78.8% 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
$87,965
-
1e · Government grants (contributions)
$167,438
-
1f · All other contributions, gifts and grants
$257,334
-
2a · Program service revenue: CONTRACTED SERVICES
total $12,591 · unrelated business $0 · excluded $0
-
2b · Program service revenue: TICKET SALES
total $46,902 · unrelated business $0 · excluded $0
-
3 · Investment income
total $1,185 · unrelated business $0 · excluded $1,185
-
8a · Fundraising events: gross income
$64,509
-
8a · Fundraising events: contributions included on line 1c
$87,965
-
8b · Fundraising events: direct expenses
$74,421
-
8c · Net income from fundraising events
total -$9,912 · unrelated business $0 · excluded -$9,912
-
11a · Other revenue: MISCELLANEOUS INCOME
total $11,193 · related or exempt $11,193 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$11,193
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $79,790 · program services $32,598 · management and general $25,104 · fundraising $22,088
-
7 · Other salaries and wages
total $166,300 · program services $140,879 · management and general $13,605 · fundraising $11,816
-
8 · Pension plan contributions
total $6,273 · program services $4,422 · management and general $987 · fundraising $864
-
9 · Other employee benefits
total $21,935 · program services $15,463 · management and general $3,450 · fundraising $3,022
-
10 · Payroll taxes
total $21,806 · program services $15,372 · management and general $3,430 · fundraising $3,004
-
11c · Fees: accounting
total $6,082 · program services $0 · management and general $6,082 · fundraising $0
-
11g · Fees: other
total $137,730 · program services $137,730 · management and general $0 · fundraising $0
-
12 · Advertising and promotion
total $14,049 · program services $9,340 · management and general $4,709 · fundraising $0
-
13 · Office expenses
total $3,634 · program services $0 · management and general $3,634 · fundraising $0
-
15 · Royalties
total $651 · program services $651 · management and general $0 · fundraising $0
-
16 · Occupancy
total $128,590 · program services $104,779 · management and general $23,811 · fundraising $0
-
17 · Travel
total $8,291 · program services $8,291 · management and general $0 · fundraising $0
-
20 · Interest
total $153 · program services $0 · management and general $153 · fundraising $0
-
22 · Depreciation, depletion and amortization
total $780 · program services $550 · management and general $123 · fundraising $107
-
23 · Insurance
total $12,855 · program services $9,062 · management and general $2,022 · fundraising $1,771
-
24a · Other expenses: PRODUCTION
total $55,498 · program services $55,498 · management and general $0 · fundraising $0
-
24b · Other expenses: PRINTING
total $8,360 · program services $4,703 · management and general $3,657 · fundraising $0
-
24c · Other expenses: PUBLIC RELATIONS
total $8,000 · program services $0 · management and general $8,000 · fundraising $0
-
24d · Other expenses: TICKETING FEES
total $6,334 · program services $6,334 · management and general $0 · fundraising $0
-
24e · All other expenses
total $23,401 · program services $14,396 · management and general $7,377 · fundraising $1,628
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $242,003 · end of year $86,322
-
3 · Pledges and grants receivable
beginning of year $61,562 · end of year $12,095
-
9 · Prepaid expenses and deferred charges
beginning of year $32,866 · end of year $10,025
-
10a · Land, buildings and equipment: cost or other basis
$8,129
-
10b · Land, buildings and equipment: accumulated depreciation
$780
-
10c · Land, buildings and equipment, net
end of year $7,349
-
15 · Other assets
beginning of year $40,017 · end of year $33,458
-
17 · Accounts payable and accrued expenses
beginning of year $37,601 · end of year $13,853
-
19 · Deferred revenue
beginning of year $17,375
-
25 · Other liabilities
beginning of year $50,260 · end of year $0
-
27 · Net assets without donor restrictions
beginning of year $64,484 · end of year $135,396
-
28 · Net assets with donor restrictions
beginning of year $206,728
Mission and programs · 2024
Mission
PROSPECT IS DEDICATED TO FOSTERING AND SHOWCASING TODAYS NEW VOICES SHAPING TOMORROWS MUSICALS. WE DEVELOP AND PRODUCE NEW WORKS, ENVISIONED AND IMPLEMENTED BY EMERGING ARTISTS. PROSPECT CREATES EDUCATIONAL AND TRAINING OPPORTUNITIES, SUSTAINS A SUPPORTIVE NETWORK WITHIN THE FIELD, AND PROVIDES A FORUM FOR ARTISTS AND AUDIENCES TO CONNECT AND LEARN FROM EACH OTHER.
Activities or mission (Part I)
SEE PART III, LINE 1 ON NEXT PAGE.
-
THE OSCAR MICHEAUX PROJECT Music by ALPHONSO HORNE Co-Book & Co-Lyrics by JESSE L. KEARNEY, JR. Co-Lyrics and Additional Music by PETER MILLS Co-Book by CARA REICHEL Development of a new musical which included a staged reading in January 2025, demo recordings of songs from the show and a workshop production of a jazz musical theater work presented at the Baruch Performing Arts Center in June 2025. 6 performances 558 attendees
Expenses $293,464 · Revenue $11,840
-
IGNITE CONCERT FESTIVAL A series of concerts and special events presented March and April 2025 showcasing works in progress musical theater works including: Friday, March 28 2025 @ 7:30p: Marguerite, In Concert Saturday, March 29 2025 @ 7:30p: Broadway Barkada, In Concert Sunday, March 30 2025 @ 3p: Women of WICKED - Panel Discussion Wednesday, April 2 2025@ 7:30p: Cherry Orchard, In Concert Saturday April 5 2025 @ 7:30p & Sunday April 6 @ 3p: We Foxes, In Concert presented with Actor Therapy New Works & Very Intense Productions Thursday, April 10 2025 @ 7:30p: The Battle of Blythe Road, In Concert prpresented with On The Quays Sunday, April 13 2025 @ 2p: Amberland, In Concert presented with Ring of Keys 8 performances 1057 Attendees
Expenses $136,305 · Revenue $21,985
-
MAYA - THE MUSICAL IN CONCERT Book & Music by CHEEYANG NG Book & Lyrics by ERIC SORRELS Directed by J. MEHR KAUR A concert of the New Musical presented by Prospects IGNITE Series in partnership with National Asian Artists Project THURSDAY, NOVEMBER 21 2024 @ 7PM, Symphony Space 1 performance 409 Attendees
Expenses $46,147 · Revenue $20,232
-
Other program services included the Annual Musical Theater Lab: Jump Cut and Projects in Development. Jump Cut presented ten-minute musical works by multiple composer and writer teams in one public performance on February 20, 2025 serving 358 attendees. Projects in Development included concerts, staged readings, artist talks, work shares, and direct support for composers creating new musical theater works, ncluding Yukon, Ho!, The Troupe, and Songs for Hands on a Thursday. Collectively, these programs served approximately 534 attendees.
Expenses $84,152 · Revenue $5,436
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Cara ReichelCARA REICHEL
BOARD MEMBER/PRODUCING ARTISTIC DIRECTOR
- Total calculated
- $47,703
- From this org
- $47,703
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Melissa HuberMELISSA HUBER
BOARD MEMBER/MANAGING DIRECTOR
- Total calculated
- $31,100
- From this org
- $31,100
- From related orgs
- $0
- Other
- $0
- Hours/week
- 20
-
Peter MillsPETER MILLS
BOARD MEMBER
- Total calculated
- $4,000
- From this org
- $4,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
-
Jason MaJASON MA
PRESIDENT
- Total calculated
- $0
- Hours/week
- 5
-
Jesse KearneyJESSE KEARNEY
PRESIDENT (LEFT DECEMBER 2024)
- Total calculated
- $0
- Hours/week
- 5
-
Tira HarpazTIRA HARPAZ
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 5
-
Kyle BurkhardtKYLE BURKHARDT
TREASURER
- Total calculated
- $0
- Hours/week
- 5
-
Jane AbramsonJANE ABRAMSON
SECRETARY
- Total calculated
- $0
- Hours/week
- 5
-
Julie MillerJULIE MILLER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 5
-
Tony VallesTONY VALLES
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 5
-
Sophie GandlerSOPHIE GANDLER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 5
-
Karin KawamotoKARIN KAWAMOTO
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 5
-
Caroline EberCAROLINE EBER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 5
-
Robert GurmanROBERT GURMAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 5
-
Elizabeth CasasolaELIZABETH CASASOLA
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 5
-
Foxy SquireFOXY SQUIRE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 5
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.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 30 January 2026
- IRS schema version
- 2024v5.2
- Source object
- 202640309349300034
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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