Prism Streetlights Inc
- Assets
- $2.2m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 3
- Location
- Warwick, RI
- Founding
- 10/2019
- Data as of
- 06/2021
- EIN
- 81-3836857
Organization Overview
Prism Streetlights Inc is located in Warwick, RI. The organization was established in 2019. According to its NTEE Classification (W20) the organization is classified as: Government & Public Administration, under the broad grouping of Public & Societal Benefit and related organizations. As of 06/2021, Prism Streetlights Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prism Streetlights 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 06/2021, Prism Streetlights Inc generated $3.3m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 61.2% each year . All expenses for the organization totaled $3.4m during the year ending 06/2021. While expenses have increased by 58.2% per year over the past 2 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PRISM STREETLIGHTS WAS INCORPORATED TO PROVIDE MUNICPALITIES WITH EXPERIENCED PEOPLE TO MANAGE THE DELIVERY, COST, AND MAINTENANCE OF STREETLIGHT SYSTEMS. IN DOING SO, PRISM HELPS MUNICIPALITIES STRETCH THEIR BUDGETS AND ACHIEVE GREATER ENERGY INDEPENDENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRISM STREETLIGHTS MANAGES THE DELIVERY, COST AND MAINTENANCE OF STREETLIGHT SYSTEMS IN TWENTY-THREE (23) COMMUNITIES THROUGHOUT RHODE ISLAND.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Broadhead Executive Director | Officer | 40 | $111,131 |
Brian Woodbury Chief Executive Officer | Officer | 40 | $93,750 |
George Woodbury Chief Financial Officer | Officer | 40 | $31,250 |
Tom Gentz Board President | OfficerTrustee | 1 | $0 |
Frank Brown Board Member | Trustee | 1 | $0 |
Sonia Grace Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $32,292 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $32,292 |
| Total Program Service Revenue | $3,257,294 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$8,442 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,281,144 |
| 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. | $28,558 |
| Compensation of current officers, directors, key employees. | $4,284 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $43,562 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,672 |
| Fees for services: Management | $171,754 |
| Fees for services: Legal | $22,381 |
| Fees for services: Accounting | $29,293 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $423 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,435 |
| Travel | $4,941 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $465 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,256 |
| Insurance | $2,364 |
| All other expenses | $11,371 |
| Total functional expenses | $3,399,245 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $425,267 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,651,648 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $75,145 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $20,302 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $72,967 |
| Total assets | $2,245,329 |
| Accounts payable and accrued expenses | $1,418,523 |
| Grants payable | $0 |
| Deferred revenue | $249,962 |
| 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 | $1,668,485 |
| Net assets without donor restrictions | $576,844 |
| 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 | $2,245,329 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Prism Streetlights Inc Warwick, RI | $2,245,329 | $3,281,144 |
New Bedford Economic Development Council Inc New Bedford, MA | $5,015,436 | $2,421,458 |
Town Hall Annex Corporation Greenwich, CT | $11,907,632 | $1,297,065 |
Boston Municipal Research Bureau Inc Boston, MA | $1,906,928 | $901,435 |
Community Software Consortium Seekonk, MA | $424,317 | $20,794 |
Massachusetts Peace Action Education Fund Cambridge, MA | $187,103 | $0 |
New England First Amendment Coalition Inc Westborough, MA | $97,718 | $0 |
Hummel Report Providence, RI | $78,537 | $0 |
Association Of Town Finance Committees Boston, MA | $11,838 | $0 |
Providence Tourism Fund Providence, RI | $356,128 | $347,500 |
Information Trust Exchange Governing Association Williamstown, MA | $933 | $0 |
Progressive Massachusetts Inc Needham, MA | $108,818 | $0 |