PRISM Economic Development Corporation

EIN: 274679627 501(c)(3) Human Services

Milwaukee, WI

Total Revenue
$411,848
Total Expenses
$376,321
Total Assets
$756,020
Net Assets
$700,747
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2011
Legal Domicile
WI
Principal Officer
Walter Harvey
Phone
2622276507
Tax Period
2024-01-01 to 2024-12-31

PRISM Economic Development Corporation, founded in 2011, is a small nonprofit in the Human Services sector that reported $412K in total revenue in fiscal year 2024. Revenue fell 49% from the prior year — a significant decline worth monitoring. Expenses of $376K left a modest 9% surplus.

Mission

PRISM EDC exists to provide the Sherman Park Community access to resources that result in sustained economic growth and human flourishing.

Program Service Accomplishments

Program 1
Expenses: $195,166 Revenue: $27,236

Upstart Kitchen - Provided a kitchen to budding entrepreneurs in economically depressed communities so that they have access to a professional-grade kitchen and ecosystem of community support. The...

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Upstart Kitchen - Provided a kitchen to budding entrepreneurs in economically depressed communities so that they have access to a professional-grade kitchen and ecosystem of community support. The Kitchen also served multiple catering events for local events that allowed some of the entrepreneurs to hone their skills and make their products known to others.

Program 2
Expenses: $50,865

Cultivate You - Engages high school-aged youth in growing leafy green vegetables, culinary herbs, infused water and more using hydroponic systems. Participants then seek to sell their products to...

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Cultivate You - Engages high school-aged youth in growing leafy green vegetables, culinary herbs, infused water and more using hydroponic systems. Participants then seek to sell their products to local retailers. We engaged 9 high school youth in 2024.

Program 3
Expenses: $46,685

Medical Meals - Our focus for our meals program has shifted its focus from providing meals to the community to providing meals to those recovering from medical treatments. We provide delicious...

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Medical Meals - Our focus for our meals program has shifted its focus from providing meals to the community to providing meals to those recovering from medical treatments. We provide delicious, nutritionally tailored meals to support individuals managing chronic illnesses or recovering from medical treatments. Designed by healthcare professionals and chefs, our meals promote healing, enhance well-being, and make healthy eating effortless.We provided 1,445 meals to

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $444,459
Program Service Revenue $27,236
Investment Income $-59,847
Other Revenue $0
TOTAL REVENUE $411,848

Expense Breakdown

Grants Paid $0
Salaries & Benefits $80,516
Fundraising Expenses $13,891
Program Expenses $292,716
Other Expenses $295,805
TOTAL EXPENSES $376,321

Year-over-Year Comparison

2024 2023 Change
Revenue $411,848 $806,418 -0.5%
Expenses $376,321 $1,132,129 -0.7%
Net Income $35,527 $-325,711 -1.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
4
Independent Members
4
Employees
3
Volunteers
50

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$51,635
Total Directors
5
$51,635
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WALTER HARVEY Executive Director 40.00
Officer Director
$51,635 $0 $51,635
THERESA JONES Secretary 2.00
Officer Director
$0 $0 $0
YVONNA JOHNS Treasurer 2.00
Officer Director
$0 $0 $0
MICHAEL ROGERS ViceChairperson 2.00
Officer Director
$0 $0 $0
BETTY HILL Chairperson 8.00
Officer Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $411,848 $376,321 $756,020 $35,527
2023 $806,418 $1,132,129 $745,391 $-325,711
2022 $1,155,184 $754,750 $1,174,483 $400,434
2021 $738,909 $502,478 $810,993 $236,431
2020 $317,636 $335,118 $567,400 $-17,482
2019 $303,637 $235,897 $502,585 $67,740
2018 $415,246 $171,690 $327,905 $243,556
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