Opulent Philanthropy Inc

Analysis

Opulent Philanthropy Inc is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in June 2012, 14 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Opulent Philanthropy Inc reported income of $230k and spending of $323k, spending 140% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income fell from $384k to $230k (-40%), an average of -16% a year. The sharpest change came in the year to December 2022, when income dropped by 100%. Over the whole period it spent 79% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Opulent Philanthropy Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 61st percentile within TX. Charities of a similar size with the same main cause include Building Blocks Foundation ($230k), Broome County Land Bank Corporation ($230k) and Go Time Ministries ($230k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $117k. At year end it held assets of $109k against liabilities of $0, net assets of $109k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.