Opportunity Works Inc

Analysis

Opportunity Works Inc is a registered charity in United States, based in Newburyport, MA. It received its IRS tax-exemption ruling in May 1974, 52 years ago. Its declared purposes cover employment, 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 June 2023, Opportunity Works Inc reported income of $10.1m and spending of $8.9m, spending 89% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $8.3m to $10.1m (+22%), an average of +5.1% a year. The sharpest change came in the year to June 2023, when income rose by 23%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Opportunity Works Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within MA. Charities of a similar size with the same main cause include Aspire Inc ($10.1m), SVRC Industries Inc ($10.1m) and Living Opportunities Inc ($10.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% and program service revenue 0.6% of the total. Compensation of current officers, directors and key employees was $475k (5.3% of expenses). Other salaries and wages came to $4.5m. At year end it held assets of $13.5m against liabilities of $6.2m, net assets of $7.2m. It reported 170 employees.