Prosperity Works
Prosperity Works
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About this organization
Mission
Prosperity Works builds the capacity of individuals and organizations, and advocates for policies that generate economic prosperity for all New Mexicans. We work to equip limited-income New Mexico households with social and financial assets to catalyze sustainable, equitable solutions for building strong, thriving communities. We envision a New Mexico where every person has access to the opportunities, knowledge, and relationships they need to achieve economic prosperity. Our intergenerational work is guided by our core values, each of which is cast through an intersectional lens that centers racial equity: community-centric solutions building, intentional capacity building, and authentic partnership development.
About
ASSET AND FAMILY DEVELOPMENT-INDIVIDUAL DEVELOPMENT ACCOUNTS (IDAS) WERE CREATED TO ENCOURAGE SAVINGS, INVESTMENT AND ASSET ACCUMULATION AMONG MODERATE INCOME AND WORKING FAMILIES. IDAS ARE A MATCHED SAVINGS ACCOUNT. PEOPLE WHO SAVE THROUGH AN IDA CAN TYPICALLY USE THOSE SAVINGS TO (A) BUY A FIRST HOME (B) PURSUE A COLLEGE EDUCATION (C) START OR EXPAND A SMALL BUSINESS. IN COUNTIES THROUGHOUT NEW MEXICO, PROSPERITY WORKS AND ITS PARTNERS USE IDAS TO BUILD STRONG COMMUNITIES. NEARLY 1400 NEW MEXICAN SAVERS HAVE PARTICIPATED, 805 FAMILIES HAVE PURCHASED THEIR ASSET, AND ANOTHER 150 ARE CURRENTLY SAVING. DURING THIS YEAR NEAR 100 STUDENTS AT CENTRAL NEW MEXICO COMMUNITY COLLEGE HAVE HAD THE OPPORTUNITY TO OPEN ACCOUNTS. LOW-INCOME, WORKING FAMILIES HAVE SAVED OVER 11 MILLION INCLUDE TOTAL SAVINGS DEPOSITS. OVER 7 MILLION IN DEPOSITS HELD IN NM TOTAL ECONOMIC STIMULUS 38 MILLION CASH INFUSED INTO LOCAL COMMUNITIES. WORKFORCE DEVELOPMENT SKILLED, LOCALIZED, EDUCATED, VESTED FAMILIES HOME-OWNERSHIP 205 FAMILIES IN SAFE AND SECURE HOUSING, 32,800,000 IN NEW MORTGAGE HOLDINGS, 1,025,000 CASH INFUSION INTO THE ECONOMY. INCREASED BUSINESS ACTIVITY 378 NEW OR EXPANDED LOCALLY-OWNED BUSINESSES, 661 NEW JOBS CREATED OR EMPLOYMENT RETAINED, 1,890,000 CASH INFUSION INTO THE ECONOMY WORKFORCE DEVELOPMENT 222 NEW MEXICANS EARNING A HIGHER EDUCATION DEGREE, 2,308,000 INCREASED EARNING POTENTIAL PER YEAR, 1,100,000 CASH INFUSED INTO HIGHER EDUCATION.
Interesting data from their 2020 990 filing
The non-profit's mission, as described in the filing, is “Prosperity works builds the capacity of organizations and advocates for policies that generate economic prosperity for all new mexicans. through this work, we implement a vision that every new mexican has the opportunity, knowledge and relationships to achieve economic prosperity.”.
When describing its duties, they were characterized as: “Prosperity works builds the capacity of organizations and advocates for policies that generate economic prosperity for all new mexicans. through this work, we implement a vision that every new mexican has the opportunity, knowledge and relationships to achieve economic prosperity.”.
- The non-profit has complied with legal regulations by reporting their state of operation as NM.
- The filing shows that the non-profit's address as of 2020 is 909 COPPER AVENUE NW, ALBUQUERQUE, NM, 87102.
- As of 2020, the non-profit has reported a total of 25 employees on their form.
- Does not operate a hospital.
- Does not operate a school.
- Does not collect art.
- Does not provide credit counseling.
- Does not have foreign activities.
- Is not a donor advised fund.
- Is not a private foundation.
- Expenses are between $500,000 and $1,000,000+.
- Revenue is greater than $1,000,000.
- Revenue less expenses is -$356,054.
- The compensation policy for the CEO of the organization is not determined through an impartial evaluation and endorsement.
- The organization has a written policy that describes how long it will retain documents.
- The organization has 6 independent voting members.
- The organization was formed in 1999.
- The organization has a written policy that addresses conflicts of interest.
- The organization is required to file Schedule B.
- The organization is required to file Schedule O.
- The organization engages in lobbying activities.
- The organization pays $571,547 in salary, compensation, and benefits to its employees.
- The organization pays $76,682 in fundraising expenses.
- The organization provides Form 990 to its governing body.
- The organization pays grants to individuals.
- The organization has minutes of its meetings.
- The organization has a written whistleblower policy.
- The organization's financial statements were reviewed by an accountant.
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