Frequently Asked Questions

1. What is the Fund and how did it come to exist?

Prosperity Denver Fund is a 501(c)3 nonprofit that offers financial reimbursement to qualifying  501(c)3 nonprofits that provide college scholarships to Denver students. The organization was started in 2018, after Denver voters passed a ballot initiative known as Prosperity Denver. The ordinance called for a 0.08% sales tax (less than one cent on $10) which would be distributed in the form of reimbursements to nonprofits providing scholarships to Denver students.

1. What is the Fund’s goal?

Prosperity Denver Fund knows that a two-year or four-year college degree is a game changer for Denver’s high school students, from increasing their income potential to building economic prosperity and the possibility of home ownership. It’s a path toward building a prosperous future and contributing to Denver’s economy. Yet what is also clear is that while Denver high school students have the ability and drive to achieve in college, the potential financial burden keeps them from pursuing it. Our goal is to offer financial reimbursements to the nonprofits that provide scholarships to Denver students, ultimately creating a ripple effect that increases the capacity for nonprofits to grant scholarships to thousands of Denver’s high school graduates. We are focused on demonstrating a belief in the promise of college and the prosperous future of our city.

1. How is Prosperity Denver Fund funded?

Prosperity Denver Fund receives its funding as part of a sales tax collection of 0.08% (less than one cent on $10) on all goods sales in Denver. Denver voters approved this sales tax as part of the 2018 ballot, and it has generated millions of dollars in reimbursements since then.

1. How much has the Fund given?

In just three years, Prosperity Denver Fund has supported nearly 6,000 scholarships and reimbursed more than over $15M to qualifying 501(c)3 nonprofits.

1. How do I qualify to become eligible for reimbursement from the Fund as a Supported Organization?

Submit an eligibility application to see if your nonprofit qualifies. You can read all the requirements here and download the application here.

1. How do I submit reimbursement requests?

Before receiving reimbursement, your organization must submit an eligibility application and be approved. Enter your information here to start the process. We’ll be in touch soon with next steps including how to submit requests for reimbursement.

1. For how long will Prosperity Denver Fund distribute funds?

The City Ordinance that finances Prosperity Denver Fund includes a sales tax that sunsets in 2030, at which point Denver voters will be given an opportunity to reauthorize the Fund.

1. What organizations are eligible for reimbursement?

Supported Organizations (organizations that receive reimbursement from Prosperity Denver Fund) must meet the following requirements:

• Organizations must provide scholarships to Denver students for post-secondary education (though you do not have to be based in Colorado)
• Organizations must currently be in good standing and registered with Colorado Secretary of State 
• Organizations must have been in existence for at least 3 years
• Organization must hold 501(c)3 nonprofit status 
• Organization must not be affiliated with a post-secondary institution

Note that your organization does not have to be based in Colorado as long as it supports Denver students.

1. What are support services? 

The city ordinance governing the Fund specifies which support services are eligible for reimbursement. Support services may be provided to high school students and students enrolling or already enrolled in postsecondary education. 

There are five categories of support services eligible for reimbursement: 

• Transitionary Support Services such as application assistance, enrollment counseling, and assistance in course selection.
• Academic Support Services such as tutoring, academic counseling, office hours, assistance applying to graduate and professional programs, and career counseling.
• Financial Support Services such as scholarship assistance, programs to improve financial and economic literacy, financial aid support, and personal budget planning support.
• Community-based Support Services such as mentoring programs, volunteer experiences, cultural events, networking opportunities, professional development, leadership training, career immersion programs, resume building, and interview preparedness.
• Other Support Services such as healthcare services, programs to address food insecurity, child care costs, securing temporary housing for students experiencing homelessness, financial support beyond the cost of attendance, alumni programs, wellness programs, social-emotional support, and annual conferences or summits. 

1. How much funding can I receive?

At this time, supported organizations may receive reimbursement for up to 75% of their eligible costs. This includes both qualifying scholarships and support services. Note that reimbursement for support services is capped at the amount of reimbursement you receive for scholarships (you can receive as much money for support services as you did for scholarships, but not more).

1. If a student has received multiple scholarships, are they all eligible for reimbursement?

Prosperity Denver Fund can issue reimbursements to multiple organizations for the same student up to a combined total to be established by the governing board.

1. Our organization only provides one-time scholarships to freshmen. Are we still eligible to be reimbursed?

Yes. The frequency at which scholarships are awarded doesn’t factor into their eligibility.

1. Our organization provides scholarships annually to students. Are we eligible to receive reimbursement every year?

Yes. As long as you submit your annual reports and follow the processes required to renew your eligibility, you can continue receiving reimbursement.

1. What support services are eligible for reimbursement?

The Fund reimburses organizations that provide academic support services to students enrolling in or enrolled in post-secondary education (high school support services do not qualify).

Academic support services eligible for reimbursement include:

• Academic tutoring 
• Enrollment counseling
• Advice and assistance in course selection  
• Graduation coaching 
• Assistance with student financial aid, resources for locating public and private scholarships, and assistance in completing financial aid applications 
• Education or counseling services designed to improve student financial and economic literacy 
• Assistance for students enrolled in certificate and two-year programs in applying for admission to, and obtaining financial assistance for, enrollment in two-year and four-year programs
• Career and academic counseling 
• Mentoring programs
• Application assistance
• Assistance applying to graduate and professional programs
• Office hours for academic support services
• Scholarship assistance
• Personal budget planning support
• Community-based volunteer experiences
• Cultural events
• Networking opportunities
• Professional development
• Leadership training 
• Career immersion programs
• Interview preparedness.
• Healthcare services
• Programs to address food insecurity
• Child care costs
• Securing temporary housing for students experiencing homelessness
• Financial support beyond the cost of attendance
• Alumni programs
• Wellness programs
• Social-emotional support
• Annual conferences or summits. 
• Resume building

1. Scholarship reimbursement depends on students meeting “satisfactory academic progress.” What does this mean? How will the Fund verify that students have achieved it?

The exact requirements for satisfactory academic progress are defined by each individual post-secondary institution. The definition of “satisfactory academic progress” considers both grade point average and progress towards completing enough coursework to graduate within a specific time period.  Check with your institution for specific requirements or check the Federal Student Aid Office for an outline of Satisfactory Academic Progress policies here. 

Prosperity Denver Fund will require confirmation from Supported Organizations that this requirement was met, which can be done in a variety of ways (e.g., FERPA release authorization, student submission of transcripts). During our follow-up communication with each nonprofit, we ask how the organization verified this confirmation.

1. How frequently does academic progress need to be verified?

Supported organizations are required to verify academic progress annually for students for whom they request scholarship reimbursement. Verification is due with the application for reimbursement, demonstrating satisfactory progress for the previous academic year.

1. What students are eligible to have their scholarships reimbursed?

Not all scholarships are eligible for reimbursement. Students receiving scholarships eligible for reimbursement must meet the following requirements:

• Students’ expected family contribution (or EFC, obtained from completing a FAFSA) must be below 2.5 times the maximum EFC to qualify for the Federal Pell Grant. For students who have not completed or are not eligible to complete a FAFSA, the Fund has approved alternative financial need measures that can be found on our Financial Need Helpful Hints resource here.
• Students must have graduated from a Denver high school or have lived in Denver for at least 6 months.
• Students must be 30 years of age or younger on the last day of the prior post-secondary academic school year
• Students must demonstrate “satisfactory academic progress” (see above)

1. Are scholarships to technical schools and two-year programs eligible for reimbursement?

Yes. The Fund reimburses scholarships to many categories of post-secondary institutions. This includes traditional 4 year colleges, 2 year colleges, and technical schools. 

Scholarships eligible for reimbursement are for attendance at academic institutions that meet the following criteria:

• Schools must be based in Colorado (You can find a full list of Colorado institutions here)  
• Institutions cannot be for-profit: public and private nonprofit schools are accepted
• If the institution is a nonprofit, it must be a private college that has held nonprofit status since January 1, 2007 
• Schools must be nationally or regionally accredited

1. Are certificate programs or apprenticeships eligible for reimbursement?

Yes. Certificates provided by eligible postsecondary institutions and nonprofit evidence-based programs, as well state and federal approved apprenticeships are eligible for reimbursement.

1. I’m interested in applying for scholarships. Where can I learn more? Who can I contact for help?

Prosperity Denver Fund does not award scholarships directly to students or offer support services. We work with nonprofits who can help support you in applying for post-secondary education scholarships. Visit this page to see which nonprofit organizations are eligible Supported Organizations and how you can reach them.