2025-11-06T22:29:28-06:00 2024-12-31 363321958 DESMOND & AHERN LTD 10827 S WESTERN AVENUE CHICAGO IL 606433206 990 2024-01-01 462997666 Prosperus Detroit Micro Lending PROS 3135860655 440 Burroughs St 360 Detroit MI 48202 Paul Jones CEO 3135860655 2025-11-06 1 1 Mel Padillo P03172019 7737794720 2025-11-06 2024 2025-03-06 01:10:19Z Paul Jones 440 Burroughs St 360 Detroit MI 48202 4163863 0 X www.prosperusdetroit.org X 2013 MI ProsperUs advances economic equity in under-resourced communities by supporting entrepreneurs with opportunities and capital needed to build businesses, generational wealth, and vibrant neighborhoods. 8 8 20 0 0 0 1682942 3946942 118829 212639 0 4282 0 0 1801771 4163863 99560 469929 0 0 1240944 1583222 0 0 151777 909349 1121686 2249853 3174837 -448082 989026 4215384 4555184 1121817 472591 3093567 4082593 ProsperUs advances economic equity in under-resourced communities by supporting entrepreneurs with opportunities and capital needed to build businesses, generational wealth, and vibrant neighborhoods. 0 0 2499571 469929 212639 Microlending: In 2024, ProsperUs closed 86 microloans totaling $2,354,013. Training & Technical Assistance: In 2024, 138 entrepreneurs participated in our business development training classes, and 196 business service projects were facilitated. 2499571 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 118 0 1 20 0 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 0 0 0 MI X Stephen Mondozzi 7734746944 684 W Baltimore Suite 360 Detroit MI 48202 Steve Kosuda Chairman 1.00 X X 0 0 0 Chanell R Contreras Director 1.00 X 0 0 0 Hector Hernandez Director 1.00 X 0 0 0 Steve Tobocman Director 1.00 X 0 0 0 Pierre Batton Director 1.00 X 0 0 0 Kimberly Faison Director 1.00 X 0 0 0 Don Jones Director 1.00 X 0 0 0 Veronika Scott Director 1.00 X 0 0 0 Paul Jones CEO 40.00 X 195858 0 18100 Matthew Bihun Manager 40.00 X 113981 0 15387 Joanna Dueweke-Perez Manager 40.00 X 110580 0 16740 420419 0 50227 3 0 1 0 0 3946942 3946942 Interest income from l 900099 113221 113221 Service income fees 900099 67189 67189 Loan fees 900099 32229 32229 212639 4282 4282 4163863 212639 0 4282 469929 469929 213958 174269 23835 15854 1141769 929971 127193 84605 27411 22326 3054 2031 97773 79636 10892 7245 102311 83333 11397 7581 1816 1816 93000 93000 126160 80636 12924 32600 122766 81809 40957 357 277 80 78582 49639 28943 25119 20460 2798 1861 26344 26344 2500 2500 736 736 19288 19288 Technical assistance 464457 460498 3959 Provision for loan loss 104214 104214 Membership dues 24912 15677 9235 Supplies 11915 11915 19520 4767 14753 3174837 2499571 523489 151777 2398274 1917246 792 139230 1736242 2437890 5253 5999 5149 1348 4536 3801 70287 51018 4215384 4555184 120384 222591 725729 250000 250000 25704 0 1121817 472591 X 2149960 2655929 943607 1426664 3093567 4082593 4215384 4555184 989026 0 X X 0 1 X 1 1 1 X 1312500 1923887 3187178 1682942 3946942 12053449 70829 91486 114921 118829 212639 608704 1383329 2015373 3302099 1801771 4159581 12662153 0 100000 613922 1250332 1011984 2976238 100000 613922 1250332 1011984 2976238 9685915 4282 4282 4282 4282 1383329 2015373 3302099 1801771 4163863 12666435 0.76470 0.65120 0.00030 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5149 1348 3801 3801 X 4163863 0 4163863 0 4163863 3174837 0 3174837 0 3174837 Part X, Line 2: FIN 48 Note from Audited Financial Statements ProsperUS Detroit Micro-Lending has been granted tax-exempt status under Section 501(c)(3) of the Internal Revenue Code and qualifies for the charitable contribution deduction. The Organization has been classified as an organization that is not a private foundation. The tax-exempt purpose of the Organization and the nature in which it operates is described in Note 1. The Organization continues to operate in compliance with its tax-exempt purpose. The Organization's annual information and income tax returns filed with the federal and state governments are generally subject to examination by the Internal Revenue Service for three years after filing. 1 Ferris Wheel Innovation Center 615 S Sagina St Flint MI 48502 815434313 120019 0 Operating Grant Grand Rapids Area Chamber of Commerce Inc 250 Monroe Ave NW Ste 150 Grand Rapids MI 49503 300345616 49885 0 Operating Grant Global Detroit 2050 15th St Detroit MI 48216 383880502 40000 0 Operating Grant Grabb Local Inc 2012 Eastern Ave SE Grand Rapids MI 49507 832022454 37213 0 Operating Grant Metro Detroit Black Business Chamber of Commerce 1234 Washington Blvd Suite 200 Detroit MI 48226 853465384 61016 0 Operating Grant Grand Rapids Urban League 745 Eastern Ave SE Grand Rapids MI 49503 381359259 54445 0 Operating Grant Michigan Womens Foundation 615 Griswold St Suite 1020 Detroit MI 48226 382689979 11462 0 Operating Grant Detroit Future Opps 1211 Trumbull Detroit MI 48216 831438508 55150 0 Operating Grant Part I, Line 2: ProsperUs works with its subgrantees to determine outcomes and metrics in advance of deploying grants. During the duration of the subgrant period, ProsperUs regularly collects data on outcomes and metrics, and meets with subgrantees to understand any challenges or opportunities, and to ensure the requirements of the grant are met. X X X 0 0 0 0 0 0 0 0 0 Paul Jones CEO 195858 0 0 0 0 0 571 0 17529 0 213958 0 0 0 Form 990, Part VI, Section A, line 8b The organization does not have any sub-committee that has the authority to act on behalf of the governing body. Form 990, Part VI, Section B, line 11b The Controller and CEO review and approve the 990. Then the 990 is emailed to all Board members for their review prior to filing. Form 990, Part VI, Section B, line 12c A Director shall disclose to the Board of Directors any potential or existing conflict of interest consistent with the conflict policy at or prior to a meeting of Board of Directors, such Director shall disclose to the Board of Directors any potential or existing conflict of interest relating to any matter included on the agenda of that meeting or brought to the attention of the Board of Directors at that meeting. Form 990, Part VI, Section C, line 19 The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request. Form 990, Part XII, line 2c: The process has not changed from the prior year.