Non-profit

Prosperity Now

CFED logo (link) by Cfednews1 is licensed CC BY-SA 3.0 (link)
Website:

prosperitynow.org/

Location:

WASHINGTON, DC

Tax ID:

52-1141804

Tax-Exempt Status:

501(c)(3)

Budget (2021):

Revenue: $24,644,874
Expenses: $17,332,743
Assets: $29,090,376

Type:

Think Tank

Interim President and CEO:

Cherie Collins Sims

Contact InfluenceWatch with suggested edits or tips for additional profiles.

Prosperity Now, formerly known as the Corporation for Enterprise Development, is a left-of-center think tank that promotes left-of-center economic and financial services policies. The organization was founded in 1979 and has advocated a variety of left-of-center policies including a $15 minimum wage, higher income taxes, expanded tax credit programs, and down payment assistance programs, among other topics.

The group also publishes an annual scorecard that scores states based on their economic policies and is funded by various left-of-center funders including Blue Meridian Partners, the Annie E. Casey Foundation, the Rockefeller Foundation, and the Bill and Melinda Gates Foundation. 1 2 3

Background and History

Prosperity Now was founded in 1979 as the Corporation for Enterprise Development (CFED). The organization has lobbied for left-of-center economic policies since its founding and has published an economic scorecard of the 50 states, Puerto Rico, and the District of Columbia since 1987. The scorecard was originally called the Development Report Card and later the Assets and Opportunity Scorecard. It rates “prosperity measures” in “household finances and wealth, job quality and business ownership, housing, education, and health care.” 4 5

In 2017, the Corporation for Enterprise Development (CFED) announced that it had changed its name to Prosperity Now. 6 7  

Scorecard

Prosperity Now publishes an annual scorecard that rates states based on economic data. The scorecard was originally called the Development Report Card and later the Assets and Opportunity Scorecard and rates “prosperity measures” in “household finances and wealth, job quality and business ownership, housing, education, and health care.” The 2023 scorecard provided data on each state in categories including households with zero net worth, asset poverty rate, income poverty rate, homeownership rate, and four-year college degrees.” 8

Policy Stances

Prosperity Now supports a variety of left-of-center issues. It embraces left-of-center ideology regarding diversity, equity, and inclusion, stating on its website that “Under the weight of public health crises, racial injustice and political turmoil, our economy has consistently failed low-income and BIPOC (Black, Indigenous and People of Color) communities and exacerbated pre-existing inequities.” Further stating that “Now is the time to build an economy that is just, fair and free from structural racism.” 9

At the federal level, the organization supports the enactment of housing policies including down payment assistance programs, rent control, and reduction of single-family zoning. The organization also supports enacting a $15 minimum wage, a national mandatory paid leave program, and increased access to lines of credit to minority communities. 10

The organization support similar policies at the state level, including changes to zoning laws, earned income and child tax credits, and elimination of state court fines and fees. 11

Funding

Foundations that fund Prosperity Now include Blue Meridian Partners. The Annie E. Casey Foundation, Enterprise Community Partners, the Friedman Family Foundation, the Bill and Melinda Gates Foundation, Richard W. Goldman Family Foundation, Robert Wood Johnson Foundation, Ewing Marion Kauffman Foundation, Charles Stewart Mott Foundation, National Credit Union Foundation, NeighborWorks America, Present Progressive Fund, the Rockefeller Foundation, and United Philanthropy Forum. 12

Corporate-associated funders of the group include the Bank of America Charitable Foundation, Citi Foundation, Intuit Financial Freedom Foundation, JPMorgan Chase Foundation, Morgan Stanley Global Impact Funding Trust, The Prudential Foundation, Target Foundation, and the Wells Fargo Foundation. 13

References

  1. “Annual Report 2021.” Prosperity Now. Accessed October 5, 2023. https://docs.prosperitynow.org/annual-report-2021
  2. “Corporation for Enterprise Development Announces Name Change.” Prosperity Now. June 19, 2017. Accessed October 5, 2023. https://prosperitynow.org/blog/corporation-enterprise-development-announces-name-change
  3. “Federal Policy.” Prosperity Now. Accessed October 5, 2023. https://prosperitynow.org/issues/federal-policy
  4. “Corporation for Enterprise Development Announces Name Change.” Prosperity Now. June 19, 2017. Accessed October 5, 2023.  https://prosperitynow.org/blog/corporation-enterprise-development-announces-name-change
  5. “Minnesota and Massachusetts have the best economic climates in the United States.” Business North. January 27, 2006. Accessed October 4, 2023. https://web.archive.org/web/20101126221746/http://www.businessnorth.com/viewarticle.asp?articleid=1154
  6. “Corporation for Enterprise Development Announces Name Change.” Prosperity Now. June 19, 2017. Accessed October 5, 2023. https://prosperitynow.org/blog/corporation-enterprise-development-announces-name-change
  7. “Corporation for Enterprise Development Announces Name Change.” Prosperity Now. June 19, 2017. Accessed October 5, 2023.  https://prosperitynow.org/blog/corporation-enterprise-development-announces-name-change
  8. “Scorecard.” Prosperity Now. Accessed October 5, 2023.  https://scorecard.prosperitynow.org/data-by-location#state
  9. “Federal Policy.” Prosperity Now. Accessed October 5, 2023. https://prosperitynow.org/issues/federal-policy
  10. “Federal Policy.” Prosperity Now. Accessed October 5, 2023. https://prosperitynow.org/issues/federal-policy
  11. “State and Local Policy.” Prosperity Now. Accessed October 5, 2023. https://prosperitynow.org/issues/state-and-local-policy
  12. “Annual Report 2021.” Prosperity Now. Accessed October 5, 2023. https://docs.prosperitynow.org/annual-report-2021
  13.  “Annual Report 2021.” Prosperity Now. Accessed October 5, 2023. https://docs.prosperitynow.org/annual-report-2021
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Nonprofit Information

  • Accounting Period: December - November
  • Tax Exemption Received: January 1, 1980

  • Available Filings

    Period Form Type Total revenue Total functional expenses Total assets (EOY) Total liabilities (EOY) Unrelated business income? Total contributions Program service revenue Investment income Comp. of current officers, directors, etc. Form 990
    2021 Dec Form 990 $24,644,874 $17,332,743 $29,090,376 $4,681,202 N $23,689,751 $189,003 $281,592 $700,510
    2020 Dec Form 990 $11,017,841 $12,600,388 $19,779,417 $3,382,809 N $10,257,757 $487,544 $238,745 $553,829
    2019 Dec Form 990 $13,376,948 $13,464,312 $19,758,314 $2,407,676 N $11,389,728 $1,596,223 $280,885 $795,876 PDF
    2018 Dec Form 990 $12,407,376 $14,605,187 $18,901,171 $2,505,784 Y $10,414,454 $1,439,662 $296,869 $789,180 PDF
    2017 Dec Form 990 $14,826,620 $13,929,936 $22,186,559 $2,277,818 N $11,446,418 $2,677,369 $218,298 $823,796
    2016 Dec Form 990 $15,575,219 $14,653,596 $20,100,596 $1,966,036 N $12,908,064 $2,600,776 $191,129 $797,223 PDF
    2015 Dec Form 990 $11,675,289 $13,020,430 $18,390,469 $1,563,369 N $8,869,053 $2,467,299 $259,192 $753,878 PDF
    2014 Dec Form 990 $16,447,925 $12,314,502 $20,157,543 $1,445,312 N $12,322,875 $2,821,084 $240,184 $946,041 PDF
    2013 Dec Form 990 $13,314,128 $9,963,025 $16,517,291 $1,141,866 N $9,229,693 $3,646,229 $256,174 $968,445 PDF
    2012 Dec Form 990 $8,721,146 $9,695,497 $12,714,614 $1,296,894 N $5,525,772 $2,474,215 $203,675 $885,244 PDF
    2011 Dec Form 990 $8,807,136 $8,668,997 $13,569,814 $1,390,822 N $7,095,630 $1,292,359 $172,321 $832,822 PDF

    Additional Filings (PDFs)

    Prosperity Now

    1200 G ST NW STE 400
    WASHINGTON, DC 20005-3832