EIN 23-7131829

Prepare and Prosper

IRS 501(c) type
Num. employees
Year formed
Most recent tax filings
Prepare + Prosper (P+P) works with low to moderate-income people to build financial well-being and advance economic justice through direct service, field-shaping, and systems change.
Also known as...
Accountability Minnesota
Total revenues
Total expenses
Total assets
Num. employees

Program areas at Prepare and Prosper

Tax + Financial ServicesP+P leverages the skills of hundreds of volunteers to help individuals navigate the tax code, meet their tax obligations and, for many, access income-boosting tax credits like the EITC. A tax refund may be the largest single influx of income that a taxpayer receives annually. To date, P+P has served 7,718 taxpayers in drop-off clinics, in-person clinics, and Do It Yourself tax prep, returning over $20 million in refunds and credits.By integrating financial services into the obligatory tax filing process, P+P provides customers with the opportunity to engage with and improve other areas of their financial lives while their taxes are completed. Trained volunteers work with customers to determine if products, referrals, and/or services offered on P+P's Financial Continuum of Care can contribute to advancing their short- and long-term financial goals. Customers can also review their credit report; access products- including the FAIR checking and savings accounts- to direct deposit tax refunds; and connect to referrals like LSS credit counseling, pro-bono financial planning, and P+P's financial coaching program, Money Mentors. 856 customers seen in tax clinics (DIY Tax Prep includes information about Financial Services but P+P does not receive data on usage) engaged with at least one financial product, service, or referral and/or saved part or all of their refund- 21.9%.
P+P has worked to leverage the expertise of its staff, amplify the voices of people directly affected, and build cross sector partnerships and networks to inform policy and systems change and build a more equitable, inclusive financial future. Recent efforts include strengthening public policy related to tax credits, asset building, and consumer protection. P+P staff, volunteers, and customers have focused on generating support for the progressive tax policies and public programs that provide protection for the people most affected by Minnesota's economic and racial inequities. Over the past few years, these efforts have included: - Testifying in the House Tax Committee and hosting an engagement session for young workers to gain support for the $30 million expansion of the Working Family credit;- Supporting the Tax Time Savings Bill in 2019, which resulted in a $200,000 increase in funding to reach more families with free, high-quality tax and financial services; and- Monitoring and participating in tax reform deliberations to ensure protection and possible expansion of tax credits, with a focus on the Earned Income Tax Credit (EITC) and Child Tax Credit.P+P also works to shift policy through "proof of concept." For example, through the FAIR initiative, P+P has set out to change the overall financial products marketplace by demonstrating that affordable banking products designed to help people build and protect their wealth can be a sustainable (and profitable) business practice for financial institutions.Key Systems Change Partnerships - Governor's Workforce Development Board: Suyapa Miranda serves on the Equity and New Refugees committees of this taskforce which analyzes and recommends policies to the governor and legislature.- Minnesota Asset Building Coalition: Alejandro Valenzuela, Jr sits on the advisory board of this statewide coalition of 140 nonprofits creating asset-building opportunities and reducing systemic barriers to economic mobility by engaging direct service providers and their clients in effective advocacy. - St. Paul Office of Financial Empowerment + Financial Empowerment Community Council: P+P works with OFE's CollegeBound initiative and last fall got information about the Advanced Child Tax Credit into the hands of eligible families who had not accessed it. Suyapa Miranda sits on the Financial Empowerment Community Council which advises the Office. - Liberation in a Generation: Co-founder, Jeremie Greer is Vice-Chair of P+P's Board of Directors and consults on programming and initiatives. - Prosperity Now: Prosperity Now facilitates a national network of community-based VITA and financial coaching programs and several P+P staff serve on these national committees including Katy Schultz who recently stepped down as chair of the Taxpayer Opportunity Network. P+P is an active partner, presenting at convenings and contributing to field guides and toolkits.- Other VITA sites: P+P partners with VITA sites in urban, rural, and Native communities across Minnesota to share resources and best practices in free tax preparation and asset building services. P+P offers its volunteer training modules and manuals, technical assistance, and marketing materials and strategies.
Financial Capability + LearningPrepare + Prosper runs two specialized programs designed to increase the financial health and well-being of individuals, families, and communities: Money Mentors financial coaching and FAIR.Money Mentors is a volunteer-based program that centers participants as the experts in their financial lives and provides support and resources to help them work toward their goals. Money Mentors offers space for participants to set financial goals, ask hard questions, and work through solutions with a volunteer financial coach and a monthly peer meeting, where participants are able to build community, trust, and mutual support. Throughout the six-month commitment, participants receive peer and coach support and self-structured accountability to reduce their financial stress, boost their confidence, and meet their financial goals. To date, 97 people have participated in Money Mentors this year. The FAIR financial solution-checking, savings, and credit builder accounts-is another component of P+P's intersecting tax and financial services. The FAIR products, provided in partnership with Sunrise Banks, are a banking alternative available through nearly 30 trusted community organizations. FAIR's theory of change affirm that people who are financially underserved have access to high-quality financial products, service, and support that allow a safe and cost-effective way to transact, borrow, and save, then they will increase their financial capability, confidence in their ability to navigate the financial sector, and ultimately ability to build assets and wealth. Beginning in June 2022, P+P began a pilot project to measure the impact that covering the $3 monthly checking account maintenance fee has on account closure and overall customer satisfaction. As of June 2022, FAIR has enrolled 490 customers in 753 FAIR checking, savings, and credit builder accounts.

Who funds Prepare and Prosper

Grants from foundations and other nonprofits
JP Morgan Chase FoundationIn Support of Financial Health$125,000
Target FoundationCommitted in 2019 - Hometown - Racial Equity; 2-year Grant$100,000
American Online Giving FoundationGeneral Support$55,537
...and 26 more grants received totalling $622,986

Personnel at Prepare and Prosper

Tracy FischmanExecutive Director$104,852
Greg PeskyPresident$0
Beth HaneyVice President / Director$0
Patty BongaartsPast Treasurer$0
Teshite WakoVice President / Vice Chair$0
...and 3 more key personnel

Financials for Prepare and Prosper

RevenuesFYE 06/2022
Total grants, contributions, etc.$2,164,766
Program services$3,577
Investment income and dividends$5,469
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$-17,741
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$2,156,071

Form 990s for Prepare and Prosper

Fiscal year endingDate received by IRSFormPDF link
2020-062021-02-22990View PDF
2019-062020-01-14990View PDF
2018-062019-02-21990View PDF
2017-062017-12-21990View PDF
2016-062017-02-08990View PDF
...and 6 more Form 990s
Data update history
May 6, 2023
Received grants
Identified 1 new grant, including a grant for $45,000 from Saint Paul and Minnesota Foundation
August 3, 2022
Received grants
Identified 3 new grant, including a grant for $63,274 from Mightycause Charitable Foundation
September 23, 2021
Received grants
Identified 11 new grant, including a grant for $225,000 from Northwest Area Foundation
September 23, 2021
Received grants
Identified 3 new grant, including a grant for $5,000 from Deluxe Corporation Foundation
August 23, 2021
Posted financials
Added Form 990 for fiscal year 2020
Nonprofit Types
Human service organizationsFamily service centersCharities
Human services
LobbyingFundraising eventsState / local levelReceives government fundingEndowed supportCommunity engagement / volunteeringTax deductible donations
General information
2610 University Ave W 450
St Paul, MN 55114
Metro area
Minneapolis-St. Paul-Bloomington, MN-WI
Website URL
(651) 287-0187
Facebook page
Twitter profile
IRS details
Fiscal year end
Taxreturn type
Form 990
Year formed
Eligible to receive tax-deductible contributions (Pub 78)
NTEE code, primary
P50: Personal Social Services
NAICS code, primary
624190: Individual and Family Services
Parent/child status
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