Optage Inc

Analysis

Optage Inc is a registered charity in United States, based in Roseville, MN. It received its IRS tax-exemption ruling in June 2010, 16 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 September 2023, Optage Inc reported income of $362k and spending of $767k, spending 212% of what it took in. Across the 4 years on record, from September 2019 to September 2023, income fell from $1.5m to $362k (-76%), an average of -38% a year. The sharpest change came in the year to September 2022, when income dropped by 100%. Over the whole period it spent 237% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Optage Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 64th percentile within MN. Charities of a similar size with the same main cause include Jawonio Residential Opportunities III Inc ($361k), Dallas Life Support Corporation ($362k) and Merced Rescue Mission Support Corporation ($361k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $471k. At year end it held assets of $247k against liabilities of $652k, net assets of -$405k.