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Prepare + Prosper

Prepare + Prosper (P+P) is dedicated to providing high quality tax preparation and related financial services to individuals and families of limited means by leveraging volunteer resources and advising and assisting others to provide similar services in their communities.

Mission Statement
Review Completed: 1/30/2014
2610 University Ave W, Ste 450
St Paul, MN 55114
Phone: 651-287-0187
Fax: 651-287-0190
Other Names Used Formerly known as AccountAbility Minnesota
EIN 23-7131829
Principal Staff Tracy Fischman,
Number of Full-Time Equivalents (FTE) 14
Number of Volunteers 550
Number of Clients Served 13,000
General Information
Board Chair
Number of Board Members 14
Board meetings with quorum 4
Average Member Attendance at Board Meetings 8.8
Publicly Available Documents Most Recent 990
Most Recent Audit
Board
Accomplishments
1: Taxpayer Services Program The taxpayer services program expanded its capacity and increased the number of customers served by more than 6% from 2012 to 2013. 2013 Results: Value of Refunds Returned (federal and state): $24.3 million Taxpayers Served: 13,231 Children Benefiting from Refunds: 6,503 Self-Employed Taxpayers Served: 989 2: Financial Services Program P+P launched an innovative, research-based savings campaign called Got Some Save Some to increase the number of customers who chose to save part of their tax refund by opening a savings account or purchasing U.S. Savings Bonds. As result of the campaign, 665 customers saved at least part of their tax refund (more than double the number in 2012). Savings Accounts. 281 taxpayers opened new savings accounts. Matched Savings. P+P launched a matched savings pilot. A total of 44 customers received a 50% match on their savings after six months and saved a total of $69,567. Financial Planning. 140 taxpayers met with a volunteer certified financial planner. Credit Reports. During the 2013 tax season, 1,127 taxpayers received a copy of their credit report and an explanation of their credit history, up from 860 in 2012. 3: Accuracy and Customer Service P+P measures and tracks customer service outcomes through its customer satisfaction survey. 96% agreed or strongly agreed that they were treated with respect by P+P staff and volunteers. 88% agreed or strongly agreed that they were confident that staff and volunteers prepared their returns correctly.
Current Goals
In 2013, P+P completed its strategic plan for the next five years, which includes an ambitious plan for growth in breadth and depth of services. The strategic plan can be found here: http://www.prepareandprosper.org/sites/default/files/strategic_plan_web.pdf. To take steps toward achieving the strategic plan, P+P developed organizational shared goals and objectives, which are noted below. To bring these objectives to fruition, the staff leadership team has developed work plans for each department. Goal 1: Substantially increase the financial security of more low and moderate-income taxpayers by providing high quality services. • Increase the number of customers served by 3-5% in 2014. • Better integrate financial services to served 30% of customers with financial services and/or products. • Ensure quality services and customer satisfaction through enhanced volunteer and staff training and new methods to assess customer satisfaction. Goal 2: Advocate with and on behalf of low- and moderate-income people to influence and strengthen policy in areas such as asset building, tax policy, and consumer protection. • Develop internal capacity to engage customers and other stakeholders in advocacy around one to two policy priorities in 2014. • Provide state and national leadership to shape systems and public policy. Goal 3: Strengthen organizational capacity and creativity that fosters smart, sustainable growth. • Develop and test new model and methods to support sustainable growth in P+P’s services. • Create a healthy, high functioning workplace in which staff feels supported, productive, and nurtured.
Community or Constituency Served
P+P’s programs are available to low-income taxpayers living in the Twin Cities metro area with annual income of $30,000 or less, and families and self-employed taxpayers with annual income of $53,000 or less. The average annual income for P+P’s customers is approximately $14,000. Based on P+P’s 2013 taxpayer income data, approximately 56% were below 100% of the poverty level; 27% were between 100-200% of poverty; and only 17% were above 200% of poverty. Single parent households comprised over 25% of P+P’s customers and included more than 5,000 children. Customers self-identified as African (10%), African American (30%), American Indian (2%), Asian (6%), White (30%), Latino (12%), Multi-Ethnic or Other (4%), and non-identified (6%). Languages other than English were spoken in 27% of households served, and 33% of customers identified as having a disability. P+P served 989 self-employed taxpayers and a total of 13,231 taxpayers in 2013.
Geographic Area Served
Twin Cities 7 county metro. We also provide technical assistance and support to organizations in greater Minnesota.
Impact and Programs

3 Year Average Expenses

Program Services: $906,635 79.9%
Management: $125,420 11%
Fundraising: $103,181 9.1%

Unrestricted Net Assets

2012 2011 2010
End of Year: $199,648 $378,247 $119,188
Beginning of Year $378,247 $119,118 $416,375
Difference ($178,599) $259,129 ($297,187)
Unrestricted Net Assets (End of Year), Current 990 $199,648
Based on information provided on 2010 to 2012
Financials
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List of Standards Met