Nonprofit · EIN 46-2997666
PROSPERUS DETROIT MICRO LENDING
Tax-exempt (reinstated) · DETROIT, MI 48202
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $4,163,863 | $3,174,837 | $989,026 | $4,555,184 | $472,591 | $4,082,593 |
| December 31, 2023 | 990 | $1,801,771 | $2,249,853 | -$448,082 | $4,215,384 | $1,121,817 | $3,093,567 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $3,946,942
- Program service revenue
- $212,639
- Investment income
- $4,282
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $469,929
- Compensation of officers, directors and key employees
- $213,958
- Other salaries and wages
- $1,141,769
- Salaries, compensation and benefits (total)
- $1,583,222
- Professional fundraising fees
- $0
- Legal fees
- $1,816
- Accounting fees
- $93,000
- Occupancy
- $25,119
- Travel
- $26,344
- Depreciation
- $736
- Program services (functional)
- $2,499,571
- Management and general (functional)
- $523,489
- Fundraising (functional)
- $151,777
Balance sheet and other
- Total assets, start of year
- $4,215,384
- Total assets, end of year
- $4,555,184
- Total liabilities, end of year
- $472,591
- Net assets, end of year
- $4,082,593
- Land, buildings and equipment
- $3,801
- Net assets without donor restrictions
- $2,655,929
- Net assets with donor restrictions
- $1,426,664
- Gross receipts
- $4,163,863
- Employees
- 20
- Volunteers
- 0
- Year formed
- 2013
- State of legal domicile
- MI
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Paul Jones | CEO Officer | 40 | $195,858 | $18,100 |
| Matthew Bihun | Manager Highest-paid employee | 40 | $113,981 | $15,387 |
| Joanna Dueweke-Perez | Manager Highest-paid employee | 40 | $110,580 | $16,740 |
| Steve Kosuda | Chairman Trustee or director, Officer | 1 | $0 | $0 |
| Chanell R Contreras | Director Trustee or director | 1 | $0 | $0 |
| Hector Hernandez | Director Trustee or director | 1 | $0 | $0 |
| Steve Tobocman | Director Trustee or director | 1 | $0 | $0 |
| Pierre Batton | Director Trustee or director | 1 | $0 | $0 |
| Kimberly Faison | Director Trustee or director | 1 | $0 | $0 |
| Don Jones | Director Trustee or director | 1 | $0 | $0 |
| Veronika Scott | Director Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 10 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Chanell R Contreras | Executive Director/Director Trustee or director, Officer | 40 | $131,101 | $17,793 |
| Joanna Dueweke-Perez | Manager Highest-paid employee | 40 | $112,600 | $15,509 |
| Matthew Bihun | Manager Highest-paid employee | 40 | $111,360 | $10,494 |
| Steve Kosuda | Chairman Trustee or director, Officer | 1 | $0 | $0 |
| Hector Hernandez | Director Trustee or director | 1 | $0 | $0 |
| Steve Tobocman | Director Trustee or director | 1 | $0 | $0 |
| Pierre Batton | Director Trustee or director | 1 | $0 | $0 |
| Kimberly Faison | Director Trustee or director | 1 | $0 | $0 |
| Don Jones | Director Trustee or director | 1 | $0 | $0 |
| Veronika Scott | Director Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 440 BURROUGHS ST STE 360, DETROIT, MI 48202-3472
- Principal officer (990 for 2024)
- Paul Jones, 440 Burroughs St 360, Detroit, MI 48202
- Signed the 990
- Paul Jones, CEO
- Phone
- (313) 586-0655
- Website
- www.prosperusdetroit.org
- Return prepared by
- DESMOND & AHERN LTD
Mission
ProsperUs advances economic equity in under-resourced communities by supporting entrepreneurs with opportunities and capital needed to build businesses, generational wealth, and vibrant neighborhoods.
Program accomplishments
- Microlending: In 2024, ProsperUs closed 86 microloans totaling $2,354,013. Training & Technical Assistance: In 2024, 138 entrepreneurs participated in our business development training classes, and 196 business service projects were facilitated.Expenses $2,499,571 · grants $469,929 · revenue $212,639
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Check at the IRS |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 46-2997666
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2020
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S31)
- Assets (IRS master file)
- $6,598,471
- Income (IRS master file)
- $3,565,527
Revocation and reinstatement
- Exemption revoked
- May 15, 2019
- Posted by the IRS
- August 12, 2019
- Reinstated
- Effective May 15, 2019
From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $4,163,863 | $3,174,837 | $4,555,184 | IRS |
| 990 | December 2023 | $1,801,771 | $2,249,853 | $4,215,384 | XML |
| 990 | December 2022 | $3,302,099 | $2,010,396 | $3,608,105 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 46-2997666).
Questions about PROSPERUS DETROIT MICRO LENDING
- What is the EIN of PROSPERUS DETROIT MICRO LENDING?
- The employer identification number (EIN) of PROSPERUS DETROIT MICRO LENDING is 46-2997666.
- Is PROSPERUS DETROIT MICRO LENDING tax-exempt?
- Yes. The IRS revoked its exemption on May 15, 2019 and reinstated it effective May 15, 2019.
- Are donations to PROSPERUS DETROIT MICRO LENDING tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does PROSPERUS DETROIT MICRO LENDING file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of PROSPERUS DETROIT MICRO LENDING due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PROSPERUS DETROIT MICRO LENDING last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of PROSPERUS DETROIT MICRO LENDING?
- The 990 for the year ended December 31, 2024 names Paul Jones.
- Who are the officers and directors of PROSPERUS DETROIT MICRO LENDING?
- The 990 for the year ended December 31, 2024 lists 11 people; 3 received compensation from the organization, the highest $195,858 (Paul Jones, CEO).
- How much revenue does PROSPERUS DETROIT MICRO LENDING have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $4,163,863, expenses of $3,174,837 and total assets of $4,555,184 at year end.
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All nonprofits in DETROIT · Michigan · Community improvement and capacity building