Overview
What is Prosperity Catalyst Inc?
Prosperity Catalyst Inc is a nonprofit organization based in Beverly, Massachusetts. Established after the 2013 earthquake in Haiti, their primary mission is to empower women in distressed regions by developing and strengthening women-led businesses. They accomplish this through business and technical training, thereby creating opportunities for economic and social advancement. In Haiti, Prosperity Catalyst initiated a women-led candle production and export company called Fanm Limye, which is primarily owned by the nonprofit. In 2016, they began collaborating with local beekeepers, training a total of 1,108 beekeepers, 62% of whom are women, in five and three communities in the West and Nippes Departments, respectively. The organization's activities in Haiti have resulted in easier and more affordable access to supplies and markets in Port-au-Prince, where the operation was later moved. Currently, Prosperity Catalyst Inc employs a team of four individuals, demonstrating their commitment to this cause.
Official website here: www.prosperitycatalyst.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 86% (Three-Star out of Four Star rating)
Prosperity Catalyst Inc has earned an 86% rating from Charity Navigator, indicating a solid level of accountability and financial health. The organization demonstrates a strong commitment to transparency, with a fully independent board and excellent scores in areas such as financial oversight and conflict of interest policies. Their program expense ratio is notably high at 84.11%, reflecting a strong focus on programmatic spending rather than administrative costs.
The nonprofit excels in constituent feedback, achieving a perfect score in feedback collection and usage, signaling a responsive approach to stakeholder input. Additionally, their Equity Strategies score of 87 out of 100 suggests a proactive stance on promoting equity within their initiatives, which is commendable.
However, there are areas for improvement, particularly in the Equity Data and Policies & Processes scores, where both received lower ratings. These aspects may indicate a need for enhanced data practices and clearer policy documentation regarding equity initiatives. Overall, Prosperity Catalyst Inc demonstrates robust performance in several key areas but should focus on improving its equity-related metrics to further strengthen its impact.
This AI summary has been generated from information found on Charity Navigator.
Is Prosperity Catalyst Inc legitimate?
Prosperity Catalyst Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Prosperity Catalyst Inc submitted a form 990, 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: $166,298
For more financial information, click here
Official website here: www.prosperitycatalyst.org
What is the mission statement of Prosperity Catalyst Inc?
Prosperity Catalyst Inc's mission is centered around strengthening and empowering women-led businesses in distressed regions. They achieve this by providing business and technical training, thereby creating opportunities for economic and social advancement for women. The organization focuses on distressed areas, aiming to make a significant impact in these communities. Prosperity Catalyst Inc's initiatives include launching women-led businesses, such as Fanm Limye, and offering training programs to local beekeepers, particularly women, to improve their production capabilities.
Official website here: www.prosperitycatalyst.org
Who is the CEO of Prosperity Catalyst Inc?
Catherine Gibbons is the Executive Director of Prosperity Catalyst Inc.
Official website here: www.prosperitycatalyst.org
What is the revenue of Prosperity Catalyst Inc?
Prosperity Catalyst Inc's revenue in 2022 was $823,517.
Official website here: www.prosperitycatalyst.org
Who are the executives of Prosperity Catalyst Inc and what are their salaries?
The average compensation at Prosperity Catalyst Inc during 2022 was $41,574. There are 4 employees at Prosperity Catalyst Inc.
Here are 9 key members and their salaries:
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Official website here: www.prosperitycatalyst.org
Where can I find the form 990 for Prosperity Catalyst Inc?
Prosperity Catalyst Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.prosperitycatalyst.org
Learn more at the official website: www.prosperitycatalyst.org
Mission Statement of Prosperity Catalyst Inc
Prosperity Catalyst Inc is committed to strengthening and developing women-led businesses in distressed regions. Their mission is to provide business and technical training, thereby creating opportunities for women to achieve economic and social empowerment. This nonprofit organization believes in the transformative power of entrepreneurship and strives to equip women with the necessary skills to thrive in their businesses.
Prosperity Catalyst Inc's approach is hands-on and practical. They began their work in Haiti, post-earthquake, offering business management training to 100 women in Cap-Haitian. This initiative led to the establishment of a women-led candle production and export company, Fanm Limye, which is primarily owned by Prosperity Catalyst Inc. The organization's dedication to empowering women extends beyond business training. They have also worked with local beekeepers, training 1,108 beekeepers, 62% of whom are women, in five communes of the West Department and three communes of the Nippes Department. This initiative not only supports the local beekeeping industry but also ensures a sustainable supply of high-quality beeswax for the candle production.
In essence, Prosperity Catalyst Inc is a catalyst for change, empowering women to become self-sufficient entrepreneurs in distressed regions. Their innovative approach, combining business training and community development, equips women with the tools they need to thrive and contribute to their communities.
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Impact
October, 2024
Prosperity Catalyst Inc significantly impacts women's economic and social empowerment in distressed regions, particularly in Haiti. Since its inception in 2013, the organization has focused on developing and strengthening women-led businesses by providing essential business and technical training. Their initial initiative involved training 100 women in Cap-Haitien and launching a women-led candle production and export company called Fanm Limye (Women Illuminated), which is a commercially viable business that supports local economic growth.
In 2015, Prosperity Catalyst transitioned operations to Port-au-Prince to enhance access to necessary resources and markets. Understanding the challenges faced in production, they began collaborating with local beekeepers to improve the supply of high-quality beeswax, training over 1,100 beekeepers, with 62% of them being women. This effort not only improved the candle production process but also fostered entrepreneurship among local women, contributing to their financial independence and community development.
Overall, Prosperity Catalyst Inc. creates lasting opportunities for women in vulnerable regions, empowering them to achieve economic and social stability while cultivating a network of skilled entrepreneurs.
This information is meant to be a general summary of Prosperity Catalyst 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 2022.
- Gross Receipts: $823,517
Assets and Liabilities:
- Total Assets: $363,352
- Total Liabilities: $367,637
- Net Assets: -$4,285
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Organization Details
Founding Year
2010
Phone
(617) 936-0187Principal Officer
Catherine Gibbons
Main Address
PO BOX 5542, BEVERLY, MA, 01915
Website
www.prosperitycatalyst.orgNTEE Category
Code: Q33 - International
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