Nonprofit · EIN 85-1661079
PROSPECT FOUNDATION INC
Tax-exempt · RICHMOND, TX 77407
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $0 | $0 | $0 | $0 | $0 | $0 |
| December 31, 2024 | 990 | $0 | $0 | $0 | $0 | $0 | $0 |
| December 31, 2023 | 990 | $0 | $0 | $0 | $0 | $0 | $0 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
Balance sheet and other
- Total assets, start of year
- $0
- Total assets, end of year
- $0
- Total liabilities, end of year
- $0
- Net assets, end of year
- $0
- Gross receipts
- $0
- Employees
- 0
- Year formed
- 2020
- State of legal domicile
- TX
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, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RABIU ADEYEMI | PRESIDENT Officer | – | $0 |
990 for the year ended December 31, 2024: 1 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RABIU ADEYEMI | PRESIDENT | 5 | $0 |
990 for the year ended December 31, 2023: 1 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RABIU ADEYEMI | PRESIDENT | – | $0 |
Address and contacts
- Address (IRS master file)
- 18410 ASPEN DOWNS LN, RICHMOND, TX 77407-2942
- In care of
- % RABIU ADEYEMI
- Mailing address (990-N for 2022)
- 7819 EUPHONIA GLADE LN, RICHMOND TX 77407
- Principal officer (990 for 2025)
- RABIU ADEYEMI, 18410 ASPEN DOWNS LN, RICHMOND, TX 77407
- Principal officer (990-N for 2022)
- RABIU ADEYEMI, 7819 EUPHONIA GLADE LN, RICHMOND TX 77407
- Signed the 990
- RABIU, PRESIDENT
- Phone
- (832) 640-6600
- Return prepared by
- TAX SERVICES
Mission
TO HELP UNDER PRIVILEGE TO EMPOWER AND EMBRACE UNDERSERVED YOUTH. ALSO, AS A PUBLIC CHARITY
Program accomplishments
- NO EXPENSES
What it must file and when
IRS records say it files Form 990-N (e-Postcard). Gross receipts normally $50,000 or less. 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 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 85-1661079
- 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-N (e-Postcard)
- Category (NTEE)
- Unknown (Z99)
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $0 | $0 | $0 | XML |
| 990 | December 2024 | $0 | $0 | $0 | XML |
| 990 | December 2023 | $0 | $0 | $0 | XML |
| 990-N for 2022 Officer: RABIU ADEYEMI | December 31, 2022 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990-N for 2020 Officer: RABIU RABIU ADEYEMI | December 31, 2020 | ≤ $50,000 receipts | – | – | e-Postcard |
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 85-1661079).
Questions about PROSPECT FOUNDATION INC
- What is the EIN of PROSPECT FOUNDATION INC?
- The employer identification number (EIN) of PROSPECT FOUNDATION INC is 85-1661079.
- Is PROSPECT FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2020.
- Are donations to PROSPECT FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does PROSPECT FOUNDATION INC file?
- Form 990-N (e-Postcard). Gross receipts normally $50,000 or less.
- When is the next return of PROSPECT FOUNDATION INC 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 PROSPECT FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of PROSPECT FOUNDATION INC?
- The 990 for the year ended December 31, 2025 names RABIU ADEYEMI.
- Who are the officers and directors of PROSPECT FOUNDATION INC?
- The 990 for the year ended December 31, 2025 lists 1 person; 0 received compensation from the organization.
- How much revenue does PROSPECT FOUNDATION INC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $0, expenses of $0 and total assets of $0 at year end.
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