Prodigy Ventures Inc
- Assets
- $1.6m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 58
- Location
- Denver, CO
- Founding
- 05/2015
- Data as of
- 12/2023
- EIN
- 47-2745285
Organization Overview
Prodigy Ventures Inc is located in Denver, CO. The organization was established in 2015. According to its NTEE Classification (J20) the organization is classified as: Employment Preparation & Procurement, under the broad grouping of Employment and related organizations. As of 12/2023, Prodigy Ventures Inc employed 58 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prodigy Ventures Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Prodigy Ventures Inc generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 11.0% each year . All expenses for the organization totaled $1.8m during the year ending 12/2023. While expenses have increased by 18.7% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THROUGH HIGH CALIBER PROFESSIONAL DEVELOPMENT AND HANDS-ON LEARNING IN A PRODIGY ENTERPRISE, YOUTH FROM LOW-INCOME COMMUNITIES IN DENVER BUILD SKILLS, SOCIAL CAPITAL, AND UNDERSTANDING FOR SUCCESS IN THE NEW ECONOMY. THIS IN TURN BUILDS WEALTH IN THE LOCAL COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2023, 54 YOUNG ADULTS WERE TRAINED IN TRANSFERABLE WORKPLACE SKILLS, 22 WERE INVITED INTO A 12 MONTH APPRENTICESHIP, EARNING $21.50/HOUR (INCLUDING WAGES AND TIPS); OVER 32,500 HOURS OF WORKFORCE SKILL BUILDING WERE PROVIDED. 94 INDUSTRY-RECOGNIZED CERTIFICATES WERE RECEIVED PROVIDING 100% OF APPRENTICES WITH INCREASED EARNING POWER OUTSIDE OF PRODIGY. SUPPORTIVE SERVICES WERE ACCESSED BY 60% OF PROGRAM PARTICIPANTS INCLUDING ACCESS TO FREE MENTAL HEALTH COUNSELING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paula Gallegos Chair | OfficerTrustee | 2 | $0 |
Tawnya Ramirez Treasurer And Vice Chair | OfficerTrustee | 2 | $0 |
Sumaya Vanderhorts Director | Trustee | 1 | $0 |
Tanner Sandovol Secretary | OfficerTrustee | 1 | $0 |
Heather Lafferty Director | Trustee | 1 | $0 |
Derrick Kelsey Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $244,085 |
| All other contributions, gifts, grants, and similar amounts not included above | $688,104 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $932,189 |
| Total Program Service Revenue | $2,024 |
| Investment income | $1,080 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $326,816 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,262,109 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $82,923 |
| Compensation of current officers, directors, key employees. | $24,877 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $901,253 |
| Pension plan accruals and contributions | $8,176 |
| Other employee benefits | $30,974 |
| Payroll taxes | $99,346 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $64,758 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $109,722 |
| Advertising and promotion | $8,669 |
| Office expenses | $26,099 |
| Information technology | $10,408 |
| Royalties | $0 |
| Occupancy | $238,638 |
| Travel | $17,524 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $80,466 |
| Insurance | $18,874 |
| All other expenses | $0 |
| Total functional expenses | $1,750,427 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $250,010 |
| Savings and temporary cash investments | $151,010 |
| Pledges and grants receivable | $91,600 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $13,220 |
| Prepaid expenses and deferred charges | $21,041 |
| Net Land, buildings, and equipment | $599,334 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $489,972 |
| Total assets | $1,616,187 |
| Accounts payable and accrued expenses | $61,359 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $498,651 |
| Total liabilities | $560,010 |
| Net assets without donor restrictions | $998,236 |
| Net assets with donor restrictions | $57,941 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,616,187 |