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Organization's EIN 883306253.0 <br />Organization <br />W ebsite <br />prismdesignlab.org <br />Authorizing Official's <br />Name <br />Heather Ferrell <br />Authorizing Official's <br />Title <br />Executive Director <br />Authorizing Official's <br />Phone <br />919-225-1221 <br />Authorizing Official's <br />Email <br />heather@prismdesignlab.org <br />Applicant Race Black/African American <br />Financial Overview <br />FinancialOv erv iew_Submittable.xlsx <br />Organizational Financial Statements <br />Prism_Design_Lab_2023_Actuals.pdf <br />Prism_Design_Lab_Balance_Sheet.pdf <br />Prism_Design_Lab_Budget_2024.pdf <br />Prism_Design_Lab_Budget_2025_DRAFT.pdf <br />Deficit/Surplus The 2023 surplus reflects the fundraising efforts done in our initial year of <br />planning to raise funds to create the organization. As Prism has continued <br />to grow, we have remained a primarily volunteer organization, conserving <br />funds for programming and contracting outside facilitators. In 2024, we <br />have budgeted a stipend for our Executive Director. This additional <br />operating cost has reduced the amount of surplus, while still maintaining a <br />conservative approach to ongoing expenses. The draft budget for 2025 <br />reflects an increase in ongoing operating costs and a smaller surplus than <br />previous years. <br />If the current or next <br />year budget <br />represents a 30% or <br />more change from <br />the year prior, please <br />explain why. <br />Prism's 2024 Operating budget represents a greater than 30% change from <br />2023 due to the immense growth we have experienced in our first eighteen <br />months of programming. The response to our programming within the <br />community has been highly positive and is reflected in both the increase in <br />fundraising and the increase in expenses for programming. As Prism's <br />capacity for fundraising and for programming grows, we are planning for <br />this relatively high percentage of change for the next three years. W e <br />expect the percentage of change to decrease after this initial growth <br />period. <br />Docusign Envelope ID: 5641B9CB-273D-4785-AA6D-57F778AAA9EF