Golden Opportunity Living Development

Analysis

Golden Opportunity Living Development is a registered charity in United States, based in Tacoma, WA. It received its IRS tax-exemption ruling in March 1974, 52 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 August 2023, Golden Opportunity Living Development reported income of $2.2m and spending of $2.3m, spending 102% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $1.4m to $2.2m (+60%), an average of +12% a year. The sharpest change came in the year to August 2021, when income rose by 30%. Over the whole period it spent 105% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Golden Opportunity Living Development sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within WA. Charities of a similar size with the same main cause include Montclair Senior Housing Corporation ($2.2m), Neighborhood Housing and Development Corporation ($2.2m) and Shiloh Place ($2.2m).

On its Form 990 for the period ending August 2023, revenue came from program service revenue 91% of the total. Compensation of current officers, directors and key employees was $75k (3.3% of expenses). Other salaries and wages came to $438k. At year end it held assets of $5.1m against liabilities of $101k, net assets of $5.0m. It reported 14 employees.

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.