Prepare + Prosper
Prepare + Prosper
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About this organization
Mission
Prepare + Prosper and its volunteers work with low- to moderate-income people to build financial well-being through free tax preparation and financial services, products, and coaching, and by changing systems to create economic opportunity.
About
Each year, Prepare + Prosper (P+P) serves thousands of people with free tax preparation and financial services, and has been at the forefront of promoting savings at tax-time. P+P helps people reach their goals through financial coaching, and works to strengthen public policy, locally and nationally. The organization is innovating in financial inclusion, in partnership with Sunrise Banks, to move forward the FAIR initiative, a three-product financial solution for financially underserved households, designed to be scaled nationally through a community-based distribution model.Key highlights by program area include:Tax + Financial ServicesPrepare + Prosper (P+P) served nearly 12,500 people in the last calendar year, filed 27,888 tax returns, and returned $24 million in refunds. More than 1,300 P+P customers saved $1.9 million of their refunds. The organization navigated significant complexity, with changes to the Federal tax code and subsequent support for customers and preparation, training, and ongoing support for the organization's hundreds of tax volunteers.A total of 635 volunteers gave over 27,078 hours of their time in our tax, financial services, and financial coaching programs. This included an increase in the number of returning volunteers, as well as an increase in the number of volunteers who reflect the diverse communities served by Prepare + Prosper (more than 35% of new volunteers identified as people of color). Finally, P+P provided specialized tax and related services, as follows: helped 116 people apply for or renew their Individual Tax ID Numbers (ITINs), which allow people without Social Security Numbers to file tax returns; prepared tax returns for 2,000 people through our remote tax program, designed for individuals who are aging, have a disability or health limitation, and/or who cannot attend a tax clinic; and prepared tax returns for 477 people through our self-employment tax program, which supports sole proprietors, entrepreneurs, and artists throughout the area.P+P's tax and financial services are available to low-and moderate-income tax filers living in the Twin Cities metro area with annual income of $35,000 or less, and families and self-employed tax filers with annual income of $55,000 or less. The average income of P+P's services, however, is approximately $17,000.
Interesting data from their 2020 990 filing
The filing clearly states the mission of the non-profit as “Prepare + prosper (p+p) works with low- to moderate-income people to build financial well-being and advance economic justice through direct service, field-shaping, and systems change. the mission of p+p is:" p+p and its volunteers work with low-to moderate-income people to build financial well-being through free tax preparation and financial services, products, and coaching, and by changing systems to create economic opportunity."”.
When outlining its functions, they were explained as: “Prepare + prosper and its volunteers work with low to moderate-income people to build financial well-being through free tax preparation and financial services, products, and coaching, and by changing systems to create economic opportunity.”.
- In compliance with legal regulations, the non-profit has reported their state of operation as MN.
- The filing records the non-profit's address for 2020 as 2610 University Ave W Ste 450, St Paul, MN, 55114.
- As of 2020, the non-profit's form reports a total of 83 employees.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is -$9,383.
- The organization has 16 independent voting members.
- The organization was formed in 1971.
- The organization pays $1,383,474 in salary, compensation, and benefits to its employees.
- The organization pays $174,831 in fundraising expenses.