Opal

Analysis

Opal is a registered charity in United States, based in Portland, OR. It received its IRS tax-exemption ruling in August 2006, 20 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 December 2023, Opal reported income of $434k and spending of $1.1m, spending 252% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $921k to $434k (-53%), an average of -17% a year. The sharpest change came in the year to December 2022, when income rose by 116%. Over the whole period it spent 94% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Opal sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 68th percentile within OR. Charities of a similar size with the same main cause include Three Rivers Community Investment Inc ($434k), Miss Rodeo America Inc ($434k) and Midwood Development Corp ($434k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 8.3% of the total. Compensation of current officers, directors and key employees was $310k (28% of expenses). Other salaries and wages came to $409k. At year end it held assets of $807k against liabilities of $87k, net assets of $720k. It reported 45 employees.