Opencollective Foundation

Analysis

Opencollective Foundation is a registered charity in United States, based in Covina, CA. It received its IRS tax-exemption ruling in October 2017, 9 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 2022, Opencollective Foundation reported income of $27.4m and spending of $18.3m, leaving 33% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $320k to $27.4m (+8491%), an average of +341% a year. The sharpest change came in the year to December 2020, when income rose by 1416%. Over the whole period it spent 67% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Opencollective Foundation sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within CA. Charities of a similar size with the same main cause include Rofeh Cholim Cancer Society Inc ($27.2m), Hyundai Hope on Wheels ($27.4m) and Alaska Community Foundation ($27.2m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $222k (1.2% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $14.3m against liabilities of $360k, net assets of $13.9m. It reported 39 employees.