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Nonprofit · EIN 27-4679627

PRISM ECONOMIC DEVELOPMENT CORPORATION

Tax-exempt (reinstated) · MILWAUKEE, WI 53216

Financials

$806K$1.1M2023$412K$376K2024
Revenue Expenses · by fiscal year end
Financials of PRISM ECONOMIC DEVELOPMENT CORPORATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$411,848$376,321$35,527$756,020$55,273$700,747
December 31, 2023990$806,418$1,132,129-$325,711$745,391$80,171$665,220
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$444,459
Program service revenue
$27,236
Investment income
-$59,847
Net gain from sales of assets
-$59,847
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$51,635
Other salaries and wages
$23,159
Salaries, compensation and benefits (total)
$80,516
Professional fundraising fees
$0
Accounting fees
$26,140
Occupancy
$101,744
Depreciation
$53,925
Program services (functional)
$292,716
Management and general (functional)
$69,714
Fundraising (functional)
$13,891

Balance sheet and other

Total assets, start of year
$745,391
Total assets, end of year
$756,020
Total liabilities, end of year
$55,273
Net assets, end of year
$700,747
Land, buildings and equipment
$432,608
Net assets without donor restrictions
$464,747
Net assets with donor restrictions
$236,000
Gross receipts
$471,695
Employees
3
Volunteers
50
Year formed
2011
State of legal domicile
WI

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
WALTER HARVEYExecutive Director
Trustee or director, Officer
40$51,635
THERESA JONESSecretary
Trustee or director, Officer
2$0
YVONNA JOHNSTreasurer
Trustee or director, Officer
2$0
MICHAEL ROGERSViceChairperson
Trustee or director, Officer
2$0
BETTY HILLChairperson
Trustee or director, Officer
8$0
990 for the year ended December 31, 2023: 4 people
NameTitleHours / weekCompensation
BRENDA BOWERSExecutive Director
Officer
40$79,077
WALTER HARVEYPresident
Trustee or director, Officer
5$0
THERESA JONESSecretary
Trustee or director, Officer
2$0
YVONNA JOHNSTreasurer
Trustee or director, Officer
2$0

Address and contacts

Address (IRS master file)
3725 N SHERMAN BLVD, MILWAUKEE, WI 53216-3074
In care of
% WALTER HARVEY
Principal officer (990 for 2024)
Walter Harvey, 3725 N Sherman Blvd, Milwaukee, WI 53216
Signed the 990
WALTER HARVEY, President
Phone
(262) 227-6507
Return prepared by
CFO Unlimited LLC

Mission

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

990 for the year ended December 31, 2024

Program accomplishments

  • 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.
    Expenses $195,166 · revenue $27,236
  • 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.
    Expenses $50,865
  • 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
    Expenses $46,685

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
27-4679627
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
2017
Accounting year ends
December
Files
Form 990 or 990-EZ
Category (NTEE)
Human services (P40)
Assets (IRS master file)
$756,020
Income (IRS master file)
$471,695

Revocation and reinstatement

Exemption revoked
May 15, 2014
Posted by the IRS
August 11, 2014
Reinstated
Effective June 15, 2017

From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$411,848$376,321$756,020XML
990December 2023$806,418$1,132,129$745,391XML
990December 2022$1,155,184$754,750$1,174,483IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 27-4679627).

Questions about PRISM ECONOMIC DEVELOPMENT CORPORATION

What is the EIN of PRISM ECONOMIC DEVELOPMENT CORPORATION?
The employer identification number (EIN) of PRISM ECONOMIC DEVELOPMENT CORPORATION is 27-4679627.
Is PRISM ECONOMIC DEVELOPMENT CORPORATION tax-exempt?
Yes. The IRS revoked its exemption on May 15, 2014 and reinstated it effective June 15, 2017.
Are donations to PRISM ECONOMIC DEVELOPMENT CORPORATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does PRISM ECONOMIC DEVELOPMENT CORPORATION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of PRISM ECONOMIC DEVELOPMENT CORPORATION due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did PRISM ECONOMIC DEVELOPMENT CORPORATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of PRISM ECONOMIC DEVELOPMENT CORPORATION?
The 990 for the year ended December 31, 2024 names Walter Harvey.
Who are the officers and directors of PRISM ECONOMIC DEVELOPMENT CORPORATION?
The 990 for the year ended December 31, 2024 lists 5 people; 1 received compensation from the organization, the highest $51,635 (WALTER HARVEY, Executive Director).
How much revenue does PRISM ECONOMIC DEVELOPMENT CORPORATION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $411,848, expenses of $376,321 and total assets of $756,020 at year end.

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