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Prosperity Denver Fund reports $18.6 million distributed in 2024 and outlines reserve spending plan
Summary
The committee received a briefing from Prosperity Denver Fund on 2024 grant activity, program expansion under a 2023 ordinance change, evaluation findings, and a board plan to reduce reserves while preserving funds for a potential sunset scenario.
On Jan. 8, 2025, the Safety, Housing, Education and Homelessness Committee received a briefing from Prosperity Denver Fund leadership on the program’s 2024 spending, expansion of services and a multi‑year reserve plan.
Rebecca Arnaud, chief executive officer of Prosperity Denver Fund, and Theresa Pena, chair of the fund’s board, told the committee that Prosperity Denver — created after a 2018 ballot initiative and established by ordinance in 2019 — provides reimbursements to nonprofit partners who deliver scholarships, support services and credential/apprenticeship pathways to Denver students ages 14–30. Arnaud said the fund worked with 64 organizations in 2024, funded more than 12,000 scholarships, served over 37,000 students, and has distributed close to $48 million since inception. In 2024 the fund distributed $18.6 million, a step up from $8 million in 2023 after the council expanded the ordinance’s scope last year.
Arnaud described the…
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