Overview
What is The Prosperity Lab?
The Prosperity Lab is a nonprofit organization situated in San Jose, California, specifically at 2150 N First Street. Their primary focus is on supporting micro-enterprises, small businesses, organic businesses, students, and low-income residents in Santa Clara and San Mateo County. They offer guidance on entrepreneurship, aiming to empower these groups and foster growth within the community. During the pandemic, they provided a grant titled the "East San Jose Peace Grant" to 32 small business owners for an amount of $50,500. With a small workforce of only 2 individuals, The Prosperity Lab demonstrates a dedication to uplifting local businesses and fostering economic development in the region.
Official website here: www.prosperitylab.org
Is The Prosperity Lab legitimate?
The Prosperity Lab is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Prosperity Lab 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: $100,540
Professional Fundraising Fees: $0
Other Salaries and Wages: $89,119
For more financial information, click here
Official website here: www.prosperitylab.org
What is the mission statement of The Prosperity Lab?
The Prosperity Lab's mission is centered around supporting micro-enterprises, small businesses, organic businesses, students, and low-income residents in their entrepreneurial endeavors. The organization provides guidance and resources to help these groups thrive. During the pandemic, they distributed a grant named the East San Jose Peace Grant to 32 small business owners for an amount of $50,500, demonstrating their commitment to assisting local businesses in times of need.
Official website here: www.prosperitylab.org
What is the revenue of The Prosperity Lab?
The Prosperity Lab's revenue in 2023 was $759,710.
Official website here: www.prosperitylab.org
Who are the executives of The Prosperity Lab and what are their salaries?
The average compensation at The Prosperity Lab during 2023 was $63,220. There are 3 employees and 4 volunteers at The Prosperity Lab.
There is 1 key member and their salary:
- Compensation: $100,540
- Related: $0
- Other: $0
Official website here: www.prosperitylab.org
Where can I find the form 990 for The Prosperity Lab?
The Prosperity Lab's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.prosperitylab.org
Learn more at the official website: www.prosperitylab.org
Mission Statement of The Prosperity Lab
The Prosperity Lab is a nonprofit organization dedicated to serving micro-enterprises, small businesses, organic businesses, students, and low-income residents in Santa Clara and San Mateo County. Its mission is to provide guidance and support on entrepreneurship, aiming to empower these individuals and entities. The Prosperity Lab's activities are centered around fostering growth and success in these sectors, offering valuable resources and advice.
During the pandemic, The Prosperity Lab demonstrated its commitment to its mission by providing financial aid to small business owners in the form of a grant called the East San Jose Peace Grant. This grant, amounting to $50,500, was distributed to 32 small business owners in the region, demonstrating the organization's proactive approach to addressing the challenges posed by the pandemic and its dedication to supporting local businesses.
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Impact
October, 2024
The Prosperity Lab significantly impacts micro-enterprises and small businesses in Santa Clara and San Mateo County by providing essential resources and guidance on entrepreneurship. By focusing on low-income residents and students, it fosters economic development and empowerment within the community. One notable initiative is the East San Jose Peace Grant, which distributed $50,500 to 32 small business owners affected by the pandemic, helping them navigate financial challenges and sustain their operations. This support not only helps individual businesses thrive but also contributes to community improvement and resilience during difficult times.
This information is meant to be a general summary of The Prosperity Lab. 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 2023.
- Program Service Revenue: $29,465
- Gross Receipts: $759,710
Assets and Liabilities:
- Total Assets: $24,025
- Total Liabilities: $0
- Net Assets: $24,025
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Organization Details
Founding Year
2021
Principal Officer
Miriam M Hernandez
Website
www.prosperitylab.orgNTEE Category
Code: S30 - Community improvement
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