EIN 46-2997666

Prosperus Detroit Micro Lending

IRS 501(c) type
501(c)(3)
Num. employees
20
Year formed
2013
Most recent tax filings
2023-12-01
Description
Prosperus Detroit Micro-Lending supports entrepreneurs in under-resourced communities by providing opportunities and capital to build businesses, generational wealth, and vibrant neighborhoods. In 2022, the organization deployed over $900,000 in microloans and provided business development training classes to 115 entrepreneurs while offering personal financial coaching to 21 participants.
Total revenues
$1,801,771
2023
Total expenses
$2,249,853
2023
Total assets
$4,215,384
2023
Num. employees
20
2023

Program areas at Prosperus Detroit Micro Lending

Microlending: In 2023, ProsperUs deployed over $1,200,000 in microloansTraining & Technical Assistance: In 2023, 144 entrepreneurs participated in our business development training classes, 105 participated in personal financial coaching and education initiatives, and 141 business service projects were facilitated.

Grants made by Prosperus Detroit Micro Lending

GranteeGrant descriptionAmount
Global African Business AssociationOperating Grant$20,000

Who funds Prosperus Detroit Micro Lending

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
W.K. Kellogg Foundation (WKKF)Provide General Operating Support To Help the Organization Advance Its Mission of Eliminating the Racial Gap Through Small Business Loans To Excluded Entrepreneurs$375,000
Community Foundation for Southeast MichiganCommunity Improvement & Capacity Building$291,600
Ralph C Wilson Jr FoundationTo Continue To Generate Small Business Growth and Neighborhood Revitalization in Detroit, Hamtramck and Highland Park.$275,000
...and 5 more grants received

Personnel at Prosperus Detroit Micro Lending

NameTitleCompensation
Paul JonesChief Executive Officer
Sean de FourPresident and Chief Executive Officer
Joanna Dueweke-PerezChief Operations Officer
Michelle ExpertlyChief Operations Manager
Michelle ShermanChief Operating Officer and Chief Financial Officer$0
...and 9 more key personnel

Financials for Prosperus Detroit Micro Lending

RevenuesFYE 12/2023
Total grants, contributions, etc.$1,682,942
Program services$118,829
Investment income and dividends$0
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$1,801,771

Form 990s for Prosperus Detroit Micro Lending

Fiscal year endingDate received by IRSFormPDF link
2023-122024-10-31990View PDF
2022-122023-08-28990View PDF
2021-122022-11-01990View PDF
2020-122021-11-10990View PDF
2019-122021-04-01990View PDF
...and 5 more Form 990s
Data update history
August 25, 2024
Received grants
Identified 2 new grant, including a grant for $375,000 from W.K. Kellogg Foundation (WKKF)
July 10, 2024
Received grants
Identified 1 new grant, including a grant for $15,000 from Comerica Charitable Foundation
June 2, 2024
Updated personnel
Identified 10 new personnel
January 2, 2024
Received grants
Identified 6 new grant, including a grant for $375,000 from Ralph C Wilson Jr Foundation
October 30, 2023
Posted financials
Added Form 990 for fiscal year 2022
Nonprofit Types
Grantmaking organizationsBusiness and community development organizationsCharities
Issues
Economic developmentBusiness and industry
Characteristics
Partially liquidatedState / local levelTax deductible donationsAccepts online donations
General information
Address
440 Burroughs St 360
Detroit, MI 48202
Metro area
Detroit-Warren-Dearborn, MI
County
Wayne County, MI
Website URL
prosperusdetroit.org/ 
Phone
(313) 586-0655
IRS details
EIN
46-2997666
Fiscal year end
December
Taxreturn type
Form 990
Year formed
2013
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S43: Management Services for Small Business, Entrepreneurs
NAICS code, primary
522120: Savings Institutions
Parent/child status
Independent
Free account sign-up

Want updates when Prosperus Detroit Micro Lending has new information, or want to find more organizations like Prosperus Detroit Micro Lending?

Create free Cause IQ account