Opportunity Finance Network

Analysis

Opportunity Finance Network is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in August 2008, 18 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Opportunity Finance Network reported income of $25.0m and spending of $31.2m, spending 125% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $16.5m to $25.0m (+52%), an average of +11% a year. The sharpest change came in the year to December 2020, when income rose by 87%. Over the whole period it spent 62% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Opportunity Finance Network sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within PA. Charities of a similar size with the same main cause include Astra Mental Health and Recovery Inc ($25.0m), Healthix Inc ($25.0m) and Community Action Council of Howard County MD Inc ($24.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 28% and program service revenue 51% of the total. Compensation of current officers, directors and key employees was $1.9m (6.1% of expenses). Other salaries and wages came to $4.3m. At year end it held assets of $313.6m against liabilities of $180.1m, net assets of $133.5m. It reported 59 employees.