Prosperus Detroit Micro Lending
EIN: 462997666 · Detroit, MI · NTEE: S31
| Metric | Value |
|---|---|
| Total Revenue | $4.2M |
| Total Expenses | $2.2M |
| Net Assets | $3.1M |
Is Prosperus Detroit Micro Lending Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Prosperus Detroit Micro Lending
Prosperus Detroit Micro Lending (EIN: 462997666) is a nonprofit organization based in Detroit, MI, classified under NTEE code S31. The organization reported total revenue of $4.2M and total assets of $4.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Prosperus Detroit Micro Lending's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Prosperus Detroit Micro Lending is a mid-size nonprofit that has been operating for 6 years, with 10 years of IRS 990 filings on record (2014–2023). Revenue has grown at a compound annual rate of 97.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.8M |
| Total Expenses | $2.2M |
| Surplus / Deficit | $-448,082 |
| Total Assets | $4.2M |
| Total Liabilities | $1.1M |
| Net Assets | $3.1M |
| Operating Margin | -24.9% |
| Debt-to-Asset Ratio | 26.6% |
| Months of Reserves | 22.5 months |
Financial Health Grade: B
In 2023, Prosperus Detroit Micro Lending reported a deficit of $448K with expenses exceeding revenue, holds 22.5 months of operating reserves (strong position), has a debt-to-asset ratio of 26.6% (moderate leverage).
Financial Trends
Over 10 years of filings (2014–2023), Prosperus Detroit Micro Lending's revenue has grown at a compound annual growth rate (CAGR) of 97.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -45.4% | +11.9% | +16.8% |
| 2022 | +63.8% | +9.2% | +55.7% |
| 2021 | +45.7% | +331.8% | +8.5% |
| 2020 | +4446.2% | +4972.8% | +90.8% |
| 2019 | +75.2% | +2934.7% | +10.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2020 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Prosperus Detroit Micro Lending has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Prosperus Detroit Micro Lending with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $448K, with expenses exceeding revenue.
- Debt-to-asset ratio: 26.6%.
Frequently Asked Questions about Prosperus Detroit Micro Lending
Is Prosperus Detroit Micro Lending a legitimate charity?
Based on AI analysis of IRS 990 filings, Prosperus Detroit Micro Lending (EIN: 462997666) insufficient data. 0 red flags identified, 0 strengths noted.
How does Prosperus Detroit Micro Lending spend its money?
Detailed spending breakdown data is not yet available for Prosperus Detroit Micro Lending. Check back for updated IRS 990 analysis.
Are donations to Prosperus Detroit Micro Lending tax-deductible?
Prosperus Detroit Micro Lending is registered as a tax-exempt nonprofit (EIN: 462997666). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Prosperus Detroit Micro Lending located?
Prosperus Detroit Micro Lending is headquartered in Detroit, Michigan and files with the IRS under EIN 462997666. It is classified under NTEE code S31.
How many years of IRS 990 filings does Prosperus Detroit Micro Lending have?
Prosperus Detroit Micro Lending has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $4.2M in total revenue.
Filing History
IRS 990 filing history for Prosperus Detroit Micro Lending showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2014–2023), Prosperus Detroit Micro Lending's revenue has grown by 45653.5%, moving from $4K to $1.8M. Total assets increased by 1321.5% over the same period, from $297K to $4.2M. Total functional expenses rose by 93643.9%, from $2K to $2.2M. In its most recent filing year (2023), Prosperus Detroit Micro Lending reported a deficit of $448K, with expenses exceeding revenue. The organization holds $1.1M in liabilities against $4.2M in assets (debt-to-asset ratio: 26.6%), resulting in net assets of $3.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.8M | $2.2M | $4.2M | $1.1M | — | — |
| 2022 | $3.3M | $2.0M | $3.6M | $66K | — | — |
| 2021 | $2.0M | $1.8M | $2.3M | $68K | — | View 990 |
| 2020 | $1.4M | $426K | $2.1M | $61K | — | View 990 |
| 2019 | $30K | $8K | $1.1M | $740 | — | View 990 |
| 2018 | $17K | $277 | $1.0M | $10K | — | View 990 |
| 2017 | $14K | $0 | $581K | $47K | — | View 990 |
| 2016 | $13K | $0 | $524K | $0 | — | View 990 |
| 2015 | $6K | $165 | $306K | $3K | — | View 990 |
| 2014 | $4K | $2K | $297K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.8M, expenses of $2.2M, and assets of $4.2M (revenue -45.4% year-over-year).
- 2022: Revenue of $3.3M, expenses of $2.0M, and assets of $3.6M (revenue +63.8% year-over-year).
- 2021: Revenue of $2.0M, expenses of $1.8M, and assets of $2.3M (revenue +45.7% year-over-year).
- 2020: Revenue of $1.4M, expenses of $426K, and assets of $2.1M (revenue +4446.2% year-over-year).
- 2019: Revenue of $30K, expenses of $8K, and assets of $1.1M (revenue +75.2% year-over-year).
- 2018: Revenue of $17K, expenses of $277, and assets of $1.0M (revenue +27.1% year-over-year).
- 2017: Revenue of $14K, expenses of $0, and assets of $581K (revenue +6.1% year-over-year).
- 2016: Revenue of $13K, expenses of $0, and assets of $524K (revenue +112.9% year-over-year).
- 2015: Revenue of $6K, expenses of $165, and assets of $306K (revenue +53.6% year-over-year).
- 2014: Revenue of $4K, expenses of $2K, and assets of $297K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Prosperus Detroit Micro Lending:
Data Sources and Methodology
This transparency report for Prosperus Detroit Micro Lending is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.