Opendoors

Analysis

Opendoors is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in December 2002, 24 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Opendoors reported income of $2.8m and spending of $2.9m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $679k to $2.8m (+312%), an average of +42% a year. The sharpest change came in the year to June 2023, when income rose by 66%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Opendoors sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 85th percentile within RI. Charities of a similar size with the same main cause include Meals on Wheels Inc ($2.8m), Food Helpers ($2.8m) and Phyllis Wheatley Community Center Inc ($2.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 77% and program service revenue 23% of the total. Other salaries and wages came to $1.3m. At year end it held assets of $5.4m against liabilities of $3.2m, net assets of $2.2m. It reported 42 employees.