Opportunity Labs Foundation Inc

Analysis

Opportunity Labs Foundation Inc is a registered charity in United States, based in Brielle, NJ. It received its IRS tax-exemption ruling in March 2020, 6 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Opportunity Labs Foundation Inc reported income of $1.3m and spending of $1.3m, spending 97% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $655k to $1.3m (+105%), an average of +27% a year. The sharpest change came in the year to December 2021, when income rose by 46%. Over the whole period it spent 86% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Opportunity Labs Foundation Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 85th percentile within NJ. Charities of a similar size with the same main cause include Oregon Center for Public Policy ($1.3m), Dog Tag Inc ($1.3m) and Community Culinary School of Charlotte Inc ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 38% and program service revenue 62% of the total. Compensation of current officers, directors and key employees was $528k (41% of expenses). Other salaries and wages came to $360k. At year end it held assets of $601k against liabilities of $13k, net assets of $588k. It reported 5 employees.