Overview
What is Poverty 2 Prosperity Inc?
Poverty 2 Prosperity Inc is a nonprofit organization that extends 0% interest loans to individuals falling under the category of the working poor. Their mission is multifaceted, encompassing various funds such as General, Women's, Education, Personal Housing, Youth, Single Parents, Artisans, and more. The organization boasts an impressive repayment rate of 99.45% across these funds, demonstrating its effectiveness in helping individuals overcome financial challenges. Notably, repayments from these loans are immediately recycled to fund new loans, thus perpetuating the cycle of assistance.
Official website here: www.poverty2prosperity.org
What do the Facebook reviews say about Poverty 2 Prosperity Inc?
Currently, there are three reviews available for Poverty 2 Prosperity Inc, but it appears that the organization has not yet received an overall rating. The feedback highlights a significant concern regarding the founder, Scott Paterson, with one reviewer expressing frustration over perceived unprofessional behavior when faced with criticism. This sentiment suggests a lack of openness or dialogue, which may deter potential supporters or volunteers.
Despite this negative comment, the limited number of reviews doesn't provide a comprehensive view of the organization's impact or the services it may offer. Without further information or additional perspectives from other reviewers, it is challenging to draw a definitive conclusion about the overall sentiment toward Poverty 2 Prosperity Inc.
It’s important for prospective supporters to consider seeking out more extensive feedback or experiences, as the current reviews reflect a single viewpoint that may not represent the broader mission or effectiveness of the nonprofit.
This AI summary has been generated from reviews found on Facebook.
Is Poverty 2 Prosperity Inc legitimate?
Poverty 2 Prosperity Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Poverty 2 Prosperity Inc submitted a form 990EZ, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.poverty2prosperity.org
What is the mission statement of Poverty 2 Prosperity Inc?
Poverty 2 Prosperity Inc is dedicated to offering interest-free loans to the working poor as part of its mission. The organization has an impressive track record of repayment, with a rate of 99.45% across its various funds, such as General, Women's, Education, Personal Housing, Youth, Single Parents, Artisans, and more. Once repayments are made, they are immediately recycled to fund new loans, thus continuing the cycle of assistance. This non-profit organization aims to uplift individuals from poverty, providing them with the financial support they need to improve their lives.
Official website here: www.poverty2prosperity.org
Who is the CEO of Poverty 2 Prosperity Inc?
Scott Paterson is the CEO of Poverty 2 Prosperity Inc The CEO's salary of Poverty 2 Prosperity Inc is $0 and their total compensation is $0.
Official website here: www.poverty2prosperity.org
What is the revenue of Poverty 2 Prosperity Inc?
Poverty 2 Prosperity Inc's revenue in 2024 was $319,276.
Official website here: www.poverty2prosperity.org
Who are the executives of Poverty 2 Prosperity Inc and what are their salaries?
There 11 volunteers at Poverty 2 Prosperity Inc.
Here are 4 key members and their salaries (Poverty 2 Prosperity Inc's CEO's salary is $0 and their total compensation is $0):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.poverty2prosperity.org
Where can I find the form 990 for Poverty 2 Prosperity Inc?
Poverty 2 Prosperity Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.poverty2prosperity.org
Learn more at the official website: www.poverty2prosperity.org
Mission Statement of Poverty 2 Prosperity Inc
Poverty 2 Prosperity Inc, as its name suggests, is committed to assisting the working poor by providing them with interest-free loans. The organization has an impressive track record, with a repayment rate of 99.45% across its various funds, including General, Women's, Education, Personal Housing, Youth, Single Parents, Artisans, and more. Once repayments are made, they are promptly recycled to fund new loans, thereby extending their reach and impact. In essence, Poverty 2 Prosperity Inc serves as a financial lifeline for those in need, helping them to overcome temporary financial challenges and improve their overall living conditions.
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Impact
October, 2024
Poverty 2 Prosperity Inc significantly empowers the working poor by providing 0% interest loans, enabling individuals to improve their financial situations without the burden of high-interest debt. With a remarkable 99.45% repayment rate, the organization demonstrates strong financial responsibility among borrowers and fosters a sustainable lending model where repayments are immediately reinvested into new loans. This approach not only helps various demographics, including women, single parents, artisans, and youth, but also supports education and personal housing initiatives, creating lasting impact within communities. By focusing on accessibility and responsible lending, Poverty 2 Prosperity Inc contributes to breaking the cycle of poverty and promoting economic mobility.
This information is meant to be a general summary of Poverty 2 Prosperity Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $3,400
- Program Service Revenue: $54,842
- Gross Receipts: $319,276
Assets and Liabilities:
- Total Assets: $59,123
- Total Liabilities: $0
- Net Assets: $59,123
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Organization Details
Principal Officer
Scott Paterson
Website
www.poverty2prosperity.orgNTEE Category
Code: Q33 - International
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