Opportunities for Otsego Inc

Analysis

Opportunities for Otsego Inc is a registered charity in United States, based in Oneonta, NY. It received its IRS tax-exemption ruling in April 1966, 60 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2024, Opportunities for Otsego Inc reported income of $8.9m and spending of $9.1m, spending 102% of its income. Across the 5 years on record, from March 2020 to March 2024, income fell from $8.9m to $8.9m (-0.4%), an average of -0.1% a year. Over the whole period it spent 101% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Opportunities for Otsego Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 93rd percentile within NY. Charities of a similar size with the same main cause include Room at the Inn Inc ($8.9m), Northern Great Lakes Initiatives ($8.9m) and Facets Cares Inc ($8.9m).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 90% and program service revenue 9.3% of the total. Compensation of current officers, directors and key employees was $225k (2.5% of expenses). Other salaries and wages came to $4.7m. At year end it held assets of $3.0m against liabilities of $1.6m, net assets of $1.4m. It reported 170 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.