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.
Key facts about The Prospect Advancement Fund
In short: The Prospect Advancement Fund gave $29K across 5 grants in 2025 (avg $6K), mostly in Maryland. Source: 2025 IRS Form 990-PF.
- EIN
- 92-0403094
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $29,349
- Grants made (2025)
- 5
- Average grant
- $5,870
- Median grant
- $1,041
- Total assets
- $1,017,637
- Primary geography
- Maryland (85% of itemized 2025 grant dollars)
Data from IRS Form 990-PF, 2025; updated September 2026.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$1.0M
+3.0% YoY
Annual Giving
$29K
+8.6% YoY
Grant Count
5
+66.7% YoY
Avg Grant Size
$6K
-34.8% YoY
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.
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.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of all 5 itemized 2025 grant dollars.
Cities
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.
Grant Insights
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%).
Giving History
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 |
Financial History
Multi-year comparison from IRS filings
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $1,017,637 | $987,684 | $1,001,977 |
| Revenue | $87,983 | $40,155 | $1,046,600 |
| Expenses | $59,319 | $55,233 | $44,623 |
| Qualifying Distributions | $48,710 | $46,656 | $40,000 |
| Net Investment Income | $38,874 | $6,578 | — |
| Distributable Amount | $54,224 | $50,565 | $31,489 |
Data update history
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
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).
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.
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