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Prosperity Denver Fund reports growth and warns reserve will be spent by 2027
Summary
Prosperity Denver Fund told Denver's Health & Safety Committee it has distributed about $65 million since 2019 and that its fund balance, just under $30 million in 2024, is projected to be fully spent by September 2027 unless reauthorized. The fund outlined program growth, measurement plans and a commitment reserve to support current students.
Prosperity Denver Fund leaders told the Denver City Council Health & Safety Committee that the program has expanded its reach but faces a near-term spend-down of its reserve. "Our fund balance is right now, just shy in 2024 of $30,000,000," said Rebecca Arnott, CEO of Prosperity Denver Fund, and she added the board's projections show the balance could be exhausted by September 2027.
The fund, financed by a dedicated 0.08% Denver sales tax, supports three tracks: college and technical school scholarships; credentials and apprenticeships; and high-school support services. Arnott told council members the Fund has worked with 89 partner organizations and has distributed about $65,000,000 since its 2019 inception, including…
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