Prospect Inc
- Assets
- $0.0
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 166
- Location
- Lebanon, TN
- Founding
- 06/1969
- Data as of
- 02/2022
- EIN
- 62-0793411
Organization Overview
Prospect Inc is located in Lebanon, TN. The organization was established in 1969. According to its NTEE Classification (P82) the organization is classified as: Developmentally Disabled Centers, under the broad grouping of Human Services and related organizations. As of 02/2022, Prospect Inc employed 166 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prospect 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 02/2022, Prospect Inc generated $4.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.0%) each year. All expenses for the organization totaled $4.1m during the year ending 02/2022. As we would expect to see with falling revenues, expenses have declined by (10.1%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SUPPORT SERVICES AND EMPLOYMENT TO PEOPLE WHO HAVE DISABILITIES OR OTHER BARRIERS TO PERSONAL INDEPENDENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EMPLOYMENT SERVICES, RESIDENTIAL AND HOME SUPPORT SERVICES, DAY SERVICES, CHILD DEVELOPMENT, FAMILY SUPPORT AND OTHER PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andy White Executive Director | Officer | 40 | $121,196 |
Michael Pittman Controller | Officer | 40 | $78,114 |
Heather Bay Board Member | Trustee | 1 | $0 |
Joe Cowan Chairman Of The Board | Trustee | 1 | $0 |
Lauren Wooden Secretary | Trustee | 1 | $0 |
Duane Harper Vice Chair | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,100,005 |
| All other contributions, gifts, grants, and similar amounts not included above | $53,913 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,153,918 |
| Total Program Service Revenue | $0 |
| Investment income | $2,878 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,412 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,222,641 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,877,154 |
| Pension plan accruals and contributions | $16,175 |
| Other employee benefits | $379,984 |
| Payroll taxes | $252,156 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $107,967 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $39,718 |
| Royalties | $0 |
| Occupancy | $120,099 |
| Travel | $17,153 |
| 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 | $54,306 |
| Insurance | $61,554 |
| All other expenses | $899 |
| Total functional expenses | $4,065,614 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $0 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Prospect Inc has recieved totaling $17,168.
| Awarding Organization | Amount |
|---|---|
Hca Healthcare Foundation Nashville, TN PURPOSE: OPERATIONAL FUNDING REQUEST | $10,000 |
Graham And Carolyn Holloway Foundation Colleyville, TX PURPOSE: SUPPORT FOR DISABILITIES | $5,000 |
Jim Horne & Evelyn S Hankins Foundation Lebanon, TN PURPOSE: PROVIDE SUPPORT | $2,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $168 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lifespan Incorporated Charlotte, NC | $15,854,360 | $20,547,610 |
Progressive Directions Inc Clarksville, TN | $6,267,368 | $17,802,978 |
Employment Source Inc Fayetteville, NC | $11,512,831 | $17,714,777 |
Emory Valley Center Inc Oak Ridge, TN | $13,502,943 | $17,151,005 |
Soar 365 Richmond, VA | $23,580,904 | $17,622,374 |
Rainbow Of Challenges Inc Hope, AR | $14,503,982 | $15,809,301 |
Michael Dunn Center Kingston, TN | $4,914,167 | $15,172,268 |
Progressive Healthcare Providers Inc Collierville, TN | $3,689,907 | $14,306,238 |
Community Living Inc Saint Peters, MO | $12,260,618 | $12,484,742 |
Independent Case Management Inc Little Rock, AR | $18,922,194 | $18,125,216 |
Goodwill Services Inc Richmond, VA | $4,923,731 | $11,570,082 |
Willows Way Inc St Charles, MO | $9,490,515 | $12,600,530 |