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Prosperity Denver Fund reports expanded reach, increased distributions and a reserve spend‑down plan
Summary
Prosperity Denver Fund presented 2024 results to the committee, reporting expanded scholarship and support‑services activity, nearly $18.6 million distributed in 2024, and a board‑approved reserve spending plan to reach a $16 million prudent reserve by FY2027 (including a $15 million sunset reserve).
Prosperity Denver Fund leadership briefed Denver City Council’s Safety, Housing, Education and Homelessness Committee on Wednesday about the nonprofit’s 2024 activity, growth since an ordinance change in 2023 and a board‑approved plan to spend down its reserve to a prudent level by fiscal year 2027.
Rebecca Arno, Prosperity Denver Fund’s chief executive officer since August, summarized program changes that followed a 2018 ballot initiative and a 2023 ordinance amendment. “This is the result of a 2018 ballot initiative, where it was called Devers College Success Corporation at the time,” Arno said. She said the 2023 ordinance expanded the organization’s scope to support industry‑recognized credentials and apprenticeships and to fund Denver students up to age 30.
Arno reported program scale and outcomes for 2024: the fund worked with 64 organizations, funded more than 12,000 scholarships, served over 37,000 students and distributed about $48 million…
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