Nonprofit · EIN 92-0403094
PROSPECT ADVANCEMENT FUND
Tax-exempt · LAWRENCE, MA 01841
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990-PF | $87,983 | $59,319 | $28,664 | $1,017,637 | $2,074 | $1,015,563 |
| June 30, 2024 | 990-PF | $40,155 | $55,233 | -$15,078 | $987,684 | $785 | $986,899 |
| June 30, 2023 | 990-PF | $1,046,600 | $44,623 | $1,001,977 | $1,001,977 | $0 | $1,001,977 |
Financial details: 990-PF for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $38,500
- Dividends
- $17,055
- Interest
- $14,296
- Net gain from sales of assets
- $18,132
Expenses
- Grants and similar amounts paid
- $29,349
- Compensation of officers, directors and key employees
- $11,700
- Disbursements for charitable purposes
- $48,710
- Excise tax on investment income
- $540
Balance sheet and other
- Total assets, start of year
- $987,684
- Total assets, end of year
- $1,017,637
- Total liabilities, end of year
- $2,074
- Net assets, end of year
- $1,015,563
- Fair market value of assets
- $1,154,695
- Qualifying distributions
- $48,710
- Net investment income
- $49,483
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-PF for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RICARDO NEAL 223 PROSPECT STREET, LAWRENCE, MA 01841 | PRESIDENT | 5 | $11,700 |
| ATIYA DANGLEBEN NEAL 223 PROSPECT STREET, LAWRENCE, MA 01841 | TREASURER | 1 | $0 |
| ANTHONY DEVOE 223 PROSPECT STREET, LAWRENCE, MA 01841 | DIRECTOR | 1 | $0 |
990-PF for the year ended June 30, 2024: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RICARDO NEAL 223 PROSPECT STREET, LAWRENCE, MA 01841 | PRESIDENT | 5 | $9,000 |
| ATIYA DANGLEBEN NEAL 223 PROSPECT STREET, LAWRENCE, MA 01841 | TREASURER | 1 | $0 |
| ANTHONY DEVOE 223 PROSPECT STREET, LAWRENCE, MA 01841 | DIRECTOR | 1 | $0 |
990-PF for the year ended June 30, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RICARDO NEAL 223 PROSPECT STREET, LAWRENCE, MA 01841 | PRESIDENT | 5 | $0 |
| ATIYA DANGLEBEN NEAL 223 PROSPECT STREET, LAWRENCE, MA 01841 | TREASURER/CL | 1 | $0 |
| ANTHONY DEVOE 223 PROSPECT STREET, LAWRENCE, MA 01841 | DIRECTOR | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 223 PROSPECT ST, LAWRENCE, MA 01841-2831
- In care of
- % RICARDO NEAL
- Signed the 990-PF
- RICARDO NEAL, PRESIDENT
- Phone
- (617) 756-1291
- Return prepared by
- BROWN PLUS
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990-PF on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990-PF on file |
IRS record
- EIN
- 92-0403094
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private operating foundation
- Donations deductible (Pub 78)
- Private operating foundation, 50% limit
- Exempt since
- 2022
- Accounting year ends
- June
- Files
- Form 990-PF
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T22)
- Assets (IRS master file)
- $1,017,637
- Income (IRS master file)
- $87,983
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | June 2025 | $87,983 | $59,319 | $1,017,637 | IRS |
| 990-PF | June 2024 | $40,155 | $55,233 | $987,684 | IRS |
| 990-PF | June 2023 | $1,046,600 | $44,623 | $1,001,977 | XML |
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 92-0403094).
Questions about PROSPECT ADVANCEMENT FUND
- What is the EIN of PROSPECT ADVANCEMENT FUND?
- The employer identification number (EIN) of PROSPECT ADVANCEMENT FUND is 92-0403094.
- Is PROSPECT ADVANCEMENT FUND tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
- Are donations to PROSPECT ADVANCEMENT FUND tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private operating foundation, 50% limit).
- Which annual return does PROSPECT ADVANCEMENT FUND file?
- Form 990-PF. Private foundations file every year.
- When is the next return of PROSPECT ADVANCEMENT FUND due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PROSPECT ADVANCEMENT FUND last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended June 2025.
- Who are the officers and directors of PROSPECT ADVANCEMENT FUND?
- The 990-PF for the year ended June 30, 2025 lists 3 people; 1 received compensation from the organization, the highest $11,700 (RICARDO NEAL, PRESIDENT).
- How much revenue does PROSPECT ADVANCEMENT FUND have?
- On its 990-PF for the year ended June 30, 2025 it reported revenue of $87,983, expenses of $59,319 and total assets of $1,017,637 at year end.
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All nonprofits in LAWRENCE · Massachusetts · Philanthropy, voluntarism and grantmaking foundations