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Prosperity Denver Fund reports growth, outlines fund balance and reauthorization planning
Summary
Prosperity Denver Fund told the City Council Health & Safety Committee it has distributed about $65 million since 2019, serves 89 partner organizations and is planning reauthorization work before a 2030 sunset as its $30 million fund balance is projected to be spent down by September 2027.
Prosperity Denver Fund told the Denver City Council Health & Safety Committee that it has rapidly expanded distributions and partner work since its program expansion in 2023, and that its board is planning for reauthorization ahead of a statutory sunset.
Rebecca Arnault, chief executive of Prosperity Denver Fund, said the fund "maximizes the investment of Denver taxpayers to support nonprofits that help students with financial need pursue college and career opportunities." Arnault told the committee the fund operates three programs — college and technical school scholarships; career training, credentials and apprenticeships; and high school support services — funded by a 0.08% slice of Denver sales tax.
The fund has worked with 89 partner organizations and reported more than 15,000 scholarships, about 1,100 credential awards and services reaching roughly 47,000 high-school-aged students. Arnault said cumulative distributions…
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