Prosperity Foundation
1287 Chapel Street
New Haven CT 06511-4514
Contact Information
Address 1287 Chapel Street
New Haven, CT 06511-4514
Telephone (203) 777 x7062
Fax 203-7763875
E-mail info@tpfct.org
Web and Social Media
Mission

The Prosperity Foundation (TPF) is an emerging philanthropic and educational initiative designed to strengthen Connecticut’s Black/African American communities in critical areas such as health, education, and economic development.  TPF is an outgrowth of the Urban Prosperity Fund, which was created in New Haven, Connecticut in 2010 in order to promote philanthropy, prosperity and self-empowerment in the African-American community.  TPF will become a permanent and endowed vehicle for addressing the needs of Connecticut-based African Americans and bringing the community together around common interests.  TPF will gradually take on all of the features of a community foundation, including donor-advised funds, educational events, giving circles, and other forms of philanthropy. Through TPF, philanthropy will become both a path to grant making for organizations serving the community and a portal through which Connecticut’s Black community and other interested parties can connect and collectively contribute to improving conditions and opportunities for the community.

At A Glance
Year of Incorporation 2010
Former Names
Urban Prosperity Fund
Organization's type of tax exempt status Public Supported Charity
Organization received a competitive grant from the community foundation in the past five years No
Leadership
CEO/Executive Director See CEO Statement
Board Chair Howard K. Hill
Board Chair Company Affiliation Howard K. Hill Funeral Services
Financial Summary
 
Projected Revenue $200,000.00
Projected Expenses $0.00
Statements
Mission

The Prosperity Foundation (TPF) is an emerging philanthropic and educational initiative designed to strengthen Connecticut’s Black/African American communities in critical areas such as health, education, and economic development.  TPF is an outgrowth of the Urban Prosperity Fund, which was created in New Haven, Connecticut in 2010 in order to promote philanthropy, prosperity and self-empowerment in the African-American community.  TPF will become a permanent and endowed vehicle for addressing the needs of Connecticut-based African Americans and bringing the community together around common interests.  TPF will gradually take on all of the features of a community foundation, including donor-advised funds, educational events, giving circles, and other forms of philanthropy. Through TPF, philanthropy will become both a path to grant making for organizations serving the community and a portal through which Connecticut’s Black community and other interested parties can connect and collectively contribute to improving conditions and opportunities for the community.

Background
The time is now.

The most pressing needs of African Americans in Connecticut can only be addressed with permanent resources that support sustainable impact. The Prosperity Foundation (TPF), Connecticut’s first statewide and only permanent endowment established with a focus African Americans, will make this possible. Through TPF, Connecticut’s African-Americans will have a vehicle that allows them to come together and build a resource for Connecticut’s African-American community.
Impact
In 2010, the Urban Prosperity Fund, a component fund of The Community Foundation for Greater New Haven (CFGNH) was established and started working on a development plan and set several goals to achieve its mission.  In 2013, the development plan transitioned from building a fund to creating an independent foundation, The Prosperity Foundation to create a permanant resource for the African American community and to achieve the following goals:
  • Raising awareness and educating the community to mobilize around key local issues and opportunities impacting African American families through sponsoring community events, educational forums and networking activities;
  • Developing and disseminating information on the local African American community through research and collaboration; 
  • Building trust in all segments of the African American community;
  • Inspiring our community by presenting events in the four priority platforms: Health, Education, Economics and Philanthropy which assist in creating habits and providing tangible tools that will lead to success;
  • Responding to community priorities through grantmaking and other direct interventions;
  • Raising funds and new charitable resources to address current community priorities and for permanent endowment;
  • Managing the financial assets entrusted to us with integrity and Community Foundation support.
Needs
The Prosperity Foundation is seeking donors to establish funds and donate to the general fund, for partners and for volunteers to help raise awareness about its mission and to help it achieve its goals.
CEO Statement
The Prosperity Foundation is an independent 501c3 organization, which is building a permanent endowment, and developing various funds and giving circles.  TPF funds are invested through the Community Foundation for Greater New Haven, which is providing fiscal back office services. 
 
TPF is engaging African Americans throughout Connecticut through educational events in various parts of the State.  The inaugural event was held on September 29, 2015 in New Haven.  Since this time, TPF has held events throughout Connecticut, particularly in Hartford and Stamford in addition to New Haven.
 
TPF has launched a seminar series to provide donors and prospective donors greater awareness about how philanthropy can contribute to addressing critical needs in Black communities. 
 
TPF's Small Grants Initiative has been providing funding to community based organizations throughout Connecticut that are led by and serving Black communities.  This effort is currently in its second round.  Grants will soon be distributed to a new cohort of grantees, which will be announced during the spring of 2017.
 
TPF continues to provide opportunities for donors to invest in Black communities.  Donors can contribute online to TPF's various component funds, including our central endowment -- The Prosperity Foundation Fund.  One can also create a fund through TPF.   
Board Chair Statement The Prosperity Foundation is governed by a Board of Directors.  Howard K. Hill is the President of the Board.
Service Categories
Primary Organization Category Philanthropy,Voluntarism & Grantmaking Foundations / Community Foundations
Secondary Organization Category Education /
Areas Served
In a specific U.S. city, cities, state(s) and/or region.
Ansonia
Bethany
Cheshire
Derby
East Haven
Guilford
Hamden
Lower Naugatuck Valley
Madison
Milford
New Haven
North Branford
North Haven
Orange
Oxford
Seymour
Shelton
Shoreline
State wide
Wallingford
West Haven
Other
New Haven
The Prosperity Foundation serves the State of Connecticut. Its primary focus is on engaging the African American community in Connecticut.
CEO/Executive Director/Board Comments
The Prosperity Foundation is an endowed community foundation investing in organizations serving Black communities throughout Connecticut in areas such as education, health, and economic development.  Donors can contribute to this central endowment at www.tpfct.org. 
 
Donors can also contribute to TPF by establishing a donor advised fund or giving circle.  These funds allow donors an opportunity to inform how they would like to make grants within TPF's mission.  Donors can enter into an agreement with TPF to build a fund or giving circle over time.  These funds are invested, and are designed to grow beyond the amount of initial contributions.  Earnings from these investments will support grant making directed by donors. 
Programs
Description
The Prosperity Foundation carries out its mission through a host of activities including:
  • Raising awareness and educating the community to mobilize around key local issues and opportunities impacting African American families through TPF - sponsored community events, educational forums and networking activities;
  • Developing and disseminating information on the local African American community through research and collaboration; 
  • Building trust in all segments of the African American community;
  • Inspiring our community by presenting events in the four TPF priority platforms: Health, Education, Economics and Philanthropy which assist in creating habits and providing tangible tools that will lead to success;
  • Responding to community priorities through grantmaking and other direct interventions;
  • Raising funds and new charitable resources to address current community priorities and for permanent endowment;
  • Managing the financial assets entrusted to us with integrity and the support of The Community Foundation for Greater New Haven.
Population Served Blacks, African Heritage / Unemployed, Underemployed, Dislocated / At-Risk Populations
Program is linked to organization’s mission and strategy Yes
Program is frequently assessed based on predetermined program goals Yes
Long Term SuccessHelpOrganizations describe the ultimate change(s) that will result from this program. This may be far into the future and represent an ideal state. We are among the oldest and largest of more than 700 community foundations in the United States.
CEO/Executive Director
See CEO Statement
Term Start Apr 2015
Email info@tpfct.org
Experience The Prosperity Foundation outsources its staffing to Marga Incorporated, which is led by Dr. David Maurrasse.  Marga (www.margainc.com) was founded in 2000 to provide strategic advice and research to philanthropic initiatives and community partnerships.
Staff
Number of Full Time Staff 0
Number of Part Time Staff 0
Number of Volunteers 10
Number of Contract Staff 1
Staff Retention Rate 0%
Staff Demographics - Ethnicity
African American/Black 1
Asian American/Pacific Islander 0
Caucasian 0
Hispanic/Latino 0
Native American/American Indian 0
Other 0 0
Staff Demographics - Gender
Male 1
Female 0
Unspecified 0
Collaborations
The Prosperity Foundation, through the Community Foundation for Greater New Haven, received support from the W.K. Kellogg Foundation to support TPF's initial development.  This grant enabled TPF's incorporation, a contractual agreement with Marga Incorporated, and a detailed action plan.  As indicated in the action plan, TPF is pursuing a series of education events, the development of new donor advised funds and giving circles, the expansion of a central endowment, and the creation of various form of infrastructure, including communications, governance and staffing.
 
More recently, TPF's partnership with the Community Foundation for Greater New Haven evolved.  The Community Foundation is providing matching funds to encourage TPF to raise funds for administration and grant making.  The William Casper Graustein Memorial Fund has begun contributing to TPF.  And TPF has embarked on a series of seminars in collaboration with community foundations around the state, including the Fairfield County Community Foundation and the Community Foundation for Greater New Haven. 
Comments
CEO Comments
The Prosperity Foundation is a unique formation, as it is essentially a statewide community foundation focused specifically on the Black/African-American community in a given State.  TPF has proactively envisioned the creation of other versions of TPF in various states beyond Connecticut.  TPF purchased domain names reserved for new TPF chapters in other states. 
 
TPF continues to receive national exposure through communication with other population-focused philanthropic efforts.  Through TPF's Kellogg Foundation grant, TPF is exposed to other grantees of the "Catalyzing Community Giving" portfolio.  Kellogg holds conferences and webinars for all grantees of this program.  This has allowed TPF to share lessons with other efforts focusing on expanding philanthropic giving in communities of color. 
Board Chair
Howard K. Hill
Company Affiliation Howard K. Hill Funeral Services
Term Jan 2014 to Dec 2020
Board of Directors
NameAffiliation
Larry Conaway New Light High School
Nancy Hill Educator of Human Behavior
Yves Joseph CENTERPLAN Dev. Company
Rev. Dr. Eric B. Smith Adoni Spiritual Formation Center
Rolan Joni Young Smith Berchem, Moses, and Devlin
Board Demographics - Ethnicity
African American/Black 6
Asian American/Pacific Islander 0
Caucasian 0
Hispanic/Latino 0
Native American/American Indian 0
Other 0 0
Board Demographics - Gender
Male 4
Female 2
Unspecified 0
Governance
Board Term Lengths 0
Board Term Limits 0
Written Board Selection Criteria Under Development
Written Conflict of Interest Policy Yes
Percentage Making Monetary Contributions 100%
Percentage Making In-Kind Contributions 100%
Constituency Includes Client Representation Yes
CEO Comments
As TPF is a Connecticut-wide organization, TPF is recruiting Board members from across the State, focusing specifically on prospects from Fairfield and Hartford Counties.
 
 
Financials
Fiscal Year Start Jan 01 2017
Fiscal Year End Dec 31 2017
Projected Revenue $200,000.00
Projected Expenses $0.00
Credit Line No
Reserve Fund Yes
Other Documents
Other Documents 3
NameYear
Case for Support2013View
Detailed Financials
Prior Three Years Total Revenue and Expense Totals ChartHelpFinancial data for prior years is entered by foundation staff based on the documents submitted by nonprofit organizations.Foundation staff members enter this information to assure consistency in the presentation of financial data across all organizations.
Fiscal Year201520142013
Total Revenue$145,093,566$51,684,416$49,800,638
Total Expenses$37,448,570$27,510,642$27,279,866
Prior Three Years Revenue Sources ChartHelpThe financial analysis involves a comparison of the IRS Form 990 and the audit report (when available) and revenue sources may not sum to total based on reconciliation differences. Revenue from foundations and corporations may include individual contributions when not itemized separately.
Fiscal Year201520142013
Foundation and
Corporation Contributions
$64,776,071$23,488,824$21,763,689
Government Contributions$910,878$531,732$769,136
Federal------
State------
Local------
Unspecified$910,878$531,732$769,136
Individual Contributions------
------
------
Investment Income, Net of Losses$79,406,617$27,663,860$27,267,813
Membership Dues------
Special Events------
Revenue In-Kind------
Other------
Prior Three Years Expense Allocations Chart
Fiscal Year201520142013
Program Expense$32,311,543$23,332,037$23,117,438
Administration Expense$3,065,645$2,493,683$2,484,027
Fundraising Expense$2,071,382$1,684,922$1,678,401
Payments to Affiliates------
Total Revenue/Total Expenses3.871.881.83
Program Expense/Total Expenses86%85%85%
Fundraising Expense/Contributed Revenue3%7%7%
Prior Three Years Assets and Liabilities Chart
Fiscal Year201520142013
Total Assets$482,430,411$443,530,278$416,295,565
Current Assets$10,592,433$17,124,979$15,080,330
Long-Term Liabilities$395,898$562,332$552,145
Current Liabilities$2,660,184$1,300,963$2,893,625
Total Net Assets$479,374,329$441,666,983$412,849,795
Prior Three Years Top Three Funding Sources
Fiscal Year201520142013
Top Funding Source & Dollar Amount -- -- --
Second Highest Funding Source & Dollar Amount -- -- --
Third Highest Funding Source & Dollar Amount -- -- --
Solvency
Short Term Solvency
Fiscal Year201520142013
Current Ratio: Current Assets/Current Liabilities3.9813.165.21
Long Term Solvency
Fiscal Year201520142013
Long-Term Liabilities/Total Assets0%0%0%
Capitial Campaign
Currently in a Capital Campaign? Anticipated In 3 Years
Comments
CEO Comments


Foundation Staff Comments The financials listed on this page are that of The Community Foundation for Greater New Haven, of which the The Prosperity Foundation is a part. For more information about The Community Foundation for Greater New Haven, please visit its profile on giveGreater.org.
Address 1287 Chapel Street
New Haven, CT 065114514
Primary Phone 203 777 7062
Contact Email info@tpfct.org
CEO/Executive Director See CEO Statement
Board Chair Howard K. Hill
Board Chair Company Affiliation Howard K. Hill Funeral Services

 

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