The Prospect Advancement Fund
The Prospect Advancement Fund is a private foundation, based in Lawrence, MA. IRS filing data is available from 2023 through 2025. As of 2025, the organization holds $1.0M in total assets. In 2025, it awarded 5 grants totaling $29K. Net investment income was $39K.
The Prospect Advancement Fund at a glance
In short: The Prospect Advancement Fund gave $29K across 5 grants in 2025 (avg $6K), mostly in Maryland. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $29,349
- +8.6% vs 2024
- Grants made (2025)
- 5
- +66.7% vs 2024
- Average grant
- $5,870
- -34.8% vs 2024
- Median grant
- $1,041
- Total assets
- $1,017,637
- +3.0% vs 2024
- Primary geography
- Maryland (85% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who The Prospect Advancement Fund funds
How this funder distributes its grants
Top Recipients
Top 5 recipients in 2025
The largest 2025 recipient was We Will All Rise ($25K). Together the top 5 received $29K.
Grant Size Distribution
9 grants across all recorded years
The most common grant size was under $50K: 9 grants of 9 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 5 itemized grants.
Cities
How The Prospect Advancement Fund gives
- In 2025 it paid out 90% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2023 to 2025, annual grant giving ranged from $27K (2024) to $40K (2023). In 2025 it made 5 grants totaling $29K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| We Will All Rise Baltimore, MD | Fellowships for Young Men of Color | $25,000 |
| Learnserve International Washington, DC | General Purposes | $1,808 |
| Brothers Liberating Our Communities Kansas City, MO | Fellowships for Black Male Educators | $1,041 |
| Freedom House Washington, DC | General Purposes | $1,000 |
| Haymarket People's Fund Jamaica Plain, MA | Social Justice Causes in New England | $500 |
Ready to take the next step with The Prospect Advancement Fund?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $1,017,637 | $87,983 | $59,319 | $29,349 | 5 | $48,710 | $38,874 | $54,224 |
| 2024 | $987,684 | $40,155 | $55,233 | $27,015 | 3 | $46,656 | $6,578 | $50,565 |
| 2023 | $1,001,977 | $1,046,600 | $44,623 | $40,000 | 1 | $40,000 | — | $31,489 |
Under IRS private-foundation payout rules, The Prospect Advancement Fund reported a distributable amount of $54K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
The Prospect Advancement Fund is led by Ricardo Neal, President on every filing since 2023; 1 of 3 officers listed in 2025 is compensated.
Officers on the 2025 filing
Ricardo Neal
President
On filings since 2023
5 hrs/week
$9K (2024) → $12K (2025)
Anthony Devoe
Director
On filings since 2023
1 hr/week
No compensation reported
Atiya Dangleben Neal
Treasurer
On filings since 2023
1 hr/week
No compensation reported
Data from IRS Form 990 filings, 2023–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $12K, to Ricardo Neal (President).
Frequently asked questions about The Prospect Advancement Fund
How much does The Prospect Advancement Fund give each year?
The Prospect Advancement Fund gave $29K across 5 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $27K across 3 grants.
What is The Prospect Advancement Fund's typical grant size?
The Prospect Advancement Fund's median grant in 2025 was $1,041, and its average grant was $5,870, across 5 grants on its 2025 IRS Form 990-PF.
Where does The Prospect Advancement Fund give grants?
The Prospect Advancement Fund gives mostly in Maryland: 85% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest state was District of Columbia (10%). The most frequent recipient cities were Washington, DC (2 grants).
Does The Prospect Advancement Fund give general operating support?
Yes: 40% of The Prospect Advancement Fund's 2025 grants with a stated purpose (2 of 5) were for general or operating support, per its 2025 IRS Form 990-PF.
Who are The Prospect Advancement Fund's largest grantees?
The Prospect Advancement Fund's largest 2025 grantees include We Will All Rise ($25,000), Learnserve International ($1,808) and Brothers Liberating Our Communities ($1,041), according to its 2025 IRS Form 990-PF. Together they received 95% of its itemized 2025 grant dollars.
How large is The Prospect Advancement Fund?
The Prospect Advancement Fund reported $1.0M in total assets on its 2025 IRS Form 990-PF. It paid out $49K in qualifying distributions that year, against a required minimum of $54K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What is The Prospect Advancement Fund's EIN?
The Prospect Advancement Fund's EIN (Employer Identification Number) is 92-0403094. IRS Form 990 filing data is available on this page for 2023–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(4)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2023 (received by the IRS March 28, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 13, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 15, 2026)
- IRS filings on file for fiscal years 2023–2024
Live grants for the work The Prospect Advancement Fund funds
Philanthropy, Voluntarism & Grantmaking Open opportunities, soonest deadline first.
- Nixa Affiliate Grantmaking Program Up to US $10,000 · Due October 19, 2026
- Community and School Grants $28,000 total pool; 10-15 grants expected · Due October 19, 2026
- Mary Pinola/Crescenta Valley Chamber Education Fund $500 - $5,000 for ongoing programs; up to $15,000 for Strategic Initiative Grants · Due October 19, 2026
Explore Open Grants
Browse active grant opportunities in The Prospect Advancement Fund's focus areas in our free grants database
Similar Funders
Funders with grantees in common
The Creighton Hope Charitable Foundation
Soldotna, AK
Assets
$259K
Grants
3
Total Given
$13K
The Edgerly Foundation Ud Trust Dtd
Chicago, IL
Assets
$175K
Grants
3
Total Given
$15K
The Lorne Weil Charitable
New York, NY
Assets
$1.9M
Grants
7
Total Given
$213K
Goli Ameri Family Foundation
Los Angeles, CA
Assets
—
Grants
7
Total Given
$57K
Wedner Family Foundation
Palm Beach Gardens, FL
Assets
$5.9M
Grants
8
Total Given
$293K
The Hurford Foundation
New York, NY
Assets
$6.3M
Grants
8
Total Given
$305K
More similar funders
More Funders in Massachusetts
The filing figures on this page are open data under CC BY 4.0. About GrantGraph Open
Figures come from The Prospect Advancement Fund's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
The Prospect Advancement Fund down — hundreds of funders to go?