Opportunity Works Connecticut Inc

Analysis

Opportunity Works Connecticut Inc is a registered charity in United States, based in Vernon Rockville, CT. It received its IRS tax-exemption ruling in November 2010, 16 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Opportunity Works Connecticut Inc reported income of $3.8m and spending of $3.4m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.9m to $3.8m (+31%), an average of +7.0% a year. The sharpest change came in the year to June 2023, when income rose by 22%. Over the whole period it spent 96% 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 Connecticut Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within CT. Charities of a similar size with the same main cause include Phoenix Community Development and Investment Corporation ($3.8m), Workers Lab ($3.8m) and Dayton Region New Market Fund LLC ($3.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.9% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $153k (4.4% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $2.5m against liabilities of $1.6m, net assets of $908k. It reported 99 employees.