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Nonprofit · EIN 87-1572206

PROSPER FOUNDATION

Tax-exempt (reinstated) · BIRMINGHAM, AL 35203

Financials

$4.3M$5M2024
Revenue Expenses · by fiscal year end
Financials of PROSPER FOUNDATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$4,346,522$4,995,928-$649,406$6,002,289$162,573$5,839,716
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$4,204,293
of which government grants
$1,114,025
Program service revenue
$0
Investment income
$141,325
Other revenue
$904

Expenses

Grants and similar amounts paid
$616,133
Compensation of officers, directors and key employees
$259,559
Other salaries and wages
$377,253
Salaries, compensation and benefits (total)
$728,737
Professional fundraising fees
$0
Legal fees
$118,655
Accounting fees
$16,398
Occupancy
$86,837
Travel
$112,326
Program services (functional)
$4,510,987
Management and general (functional)
$266,320
Fundraising (functional)
$218,621

Balance sheet and other

Total assets, start of year
$6,072,178
Total assets, end of year
$6,002,289
Total liabilities, end of year
$162,573
Net assets, end of year
$5,839,716
Net assets without donor restrictions
$1,477,611
Net assets with donor restrictions
$4,362,105
Gross receipts
$4,346,522
Employees
6
Volunteers
44
Year formed
2020
State of legal domicile
AL

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.

NameTitleHours / weekCompensationOther / benefits
JW CARPENTERPRESIDENT
Key employee
40$240,600$18,961
MARK CROSSWHITECHAIR
Trustee or director, Officer
1$0$0
LEE STYSLINGER IIICO-CHAIR
Trustee or director, Officer
1$0$0
JOHN TURNERMEMBER
Trustee or director
1$0$0
TIM VINESMEMBER
Trustee or director
1$0$0
DR RAY WATTSMEMBER
Trustee or director
1$0$0
RANDALL WOODFINMEMBER
Trustee or director
1$0$0
DR ANTHONY HOODMEMBER
Trustee or director
1$0$0
RICH BIELENMEMBER
Trustee or director
1$0$0
CHRIS NANNIMEMBER
Trustee or director
1$0$0
DAWN BULGARELLAMEMBER
Trustee or director
1$0$0
JASMINE FELLSMEMBER
Trustee or director
1$0$0
ANOOP MISHRAMEMBER
Trustee or director
1$0$0
SANJAY SINGH PHDMEMBER
Trustee or director
1$0$0
MARK TARRMEMBER
Trustee or director
1$0$0
11 more people on this return
NameTitleHours / weekCompensation
JOHN SHERMANMEMBER
Trustee or director
1$0
KHADIJAH ABDULLAHMEMBER
Trustee or director
1$0
RUTH ANN MOSSMEMBER
Trustee or director
1$0
LARA AVSARMEMBER
Trustee or director
1$0
CHRIS KRAMERMEMBER
Trustee or director
1$0
STACI PIERCEMEMBER
Trustee or director
1$0
ROSILYN HOUSTONMEMBER
Trustee or director
1$0
LEROY ABRAHAMSMEMBER
Trustee or director
1$0
BONDERIA LYONSMEMBER
Trustee or director
1$0
TATE FORRESTERMEMBER
Trustee or director
1$0
RALPH WILLIAMSMEMBER
Trustee or director
1$0

Address and contacts

Address (IRS master file)
1721 3RD AVE N STE 202, BIRMINGHAM, AL 35203-2082
Principal officer (990 for 2024)
JW CARPENTER, 1721 3RD AVE N 202, BIRMINGHAM, AL 35203
Signed the 990
JW CARPENTER, PRESIDENT
Phone
(205) 306-2061
Return prepared by
BORLAND BENEFIELD PC

Mission

PROSPER IS A COALITION OF COMMUNITY, CIVIC, AND BUSINESS LEADERS COMMITTED TO CREATING THE MOST THRIVING ECONOMY IN THE SOUTHEAST BY ALIGNING BIRMINGHAM AND JEFFERSON COUNTY AROUND JOB CREATION, JOB PREPARATION, AND JOB ACCESS GOALS AND STRATEGIES.

990 for the year ended December 31, 2024

Program accomplishments

  • HEALTH TECH ACCELERATOR CONNECTS CUTTING-EDGE, HEALTH TECHNOLOGY STARTUPS TO THE COACHING, CAPITAL, AND CONNECTIONS THEY NEED TO BUILD AND GROW THEIR BUSINESSES. THE PROGRAM AIMS TO MAKE BIRMINGHAM THE CENTER OF HEALTH TECHNOLOGY SOLUTIONS THROUGH INVESTMENTS IN ENTREPRENEURSHIP, TALENT, AND COMMUNITY ENGAGEMENTS.
    Expenses $1,155,359
  • SMALL BUSINESS ACCELERATION IS AN EFFORT TO PROPERLY IDENTIFY THE BEST WAYS TO SUPPORT SMALL BUSINESSES IN BIRMINGHAM AND PROVIDE SUPPORT FOR VARIOUS STAGES OF BUSINESS GROWTH.
    Expenses $995,416
  • THE CATALYZE CHALLENGE IS AN EFFORT TO CREATE EDUCATIONAL EXPERIENCES THAT BRIDGE THE GAP BETWEEN LEARNING AND WORK THROUGH CORPORATE AND COMMUNITY PARTNERSHIPS.
    Expenses $628,186 · grants $616,133
  • Expenses $1,732,026

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 yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024Check at the IRS

IRS record

EIN
87-1572206
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
2024
Accounting year ends
December
Files
Form 990 or 990-EZ
Category (NTEE)
Human services (P20)
Assets (IRS master file)
$6,002,289
Income (IRS master file)
$4,346,522

Revocation and reinstatement

Exemption revoked
May 15, 2024
Posted by the IRS
August 12, 2024
Reinstated
Effective May 15, 2024

From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$4,346,522$4,995,928$6,002,289XML

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 87-1572206).

Questions about PROSPER FOUNDATION

What is the EIN of PROSPER FOUNDATION?
The employer identification number (EIN) of PROSPER FOUNDATION is 87-1572206.
Is PROSPER FOUNDATION tax-exempt?
Yes. The IRS revoked its exemption on May 15, 2024 and reinstated it effective May 15, 2024.
Are donations to PROSPER FOUNDATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does PROSPER FOUNDATION 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 PROSPER FOUNDATION due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did PROSPER FOUNDATION 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 PROSPER FOUNDATION?
The 990 for the year ended December 31, 2024 names JW CARPENTER.
Who are the officers and directors of PROSPER FOUNDATION?
The 990 for the year ended December 31, 2024 lists 26 people; 1 received compensation from the organization, the highest $240,600 (JW CARPENTER, PRESIDENT).
How much revenue does PROSPER FOUNDATION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $4,346,522, expenses of $4,995,928 and total assets of $6,002,289 at year end.

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