Civic Intelligence

Opportunity Resource Fund

990 • Fiscal year 2014 • EIN 38-2784136

Jan 01, 2014 to Dec 31, 2014 • Filed on Aug 12, 2015

330 Marshall Street No 105Lansing, MI 48912

(517) 372-6001

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

85th percentile

0.76x

Higher debt load relative to assets than 85% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Liabilities / Revenue

95th percentile

6.35x

Higher debt load relative to revenue than 95% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Net Margin

11th percentile

-17%

Higher net margin than 11% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Top Officer Pay

36th percentile

$133,939

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 10.1% of source-year revenue.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Asset Growth

11th percentile

-6.8%

Faster asset growth than 11% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Revenue Growth

5th percentile

-39%

Faster revenue growth than 5% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Assets

Down

$11,050,169

Down $810,054 (-6.8%) from 2013

Net Assets

Down

$2,626,281

Down $226,253 (-7.9%) from 2013

Liabilities

Down

$8,423,888

Down $583,801 (-6.5%) from 2013

Revenue

Down

$1,326,782

Down $832,395 (-39%) from 2013

Expenses

Down

$1,553,035

Down $69 (-0.0%) from 2013

Net Income

Down

-$226,253

Down $832,326 (-137%) from 2013

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$40M$30M$20M$10M$0Assets 2010: $9,014,992Liabilities 2010: $6,547,816Net Assets 2010: $2,467,1762010Assets 2011: $9,849,640Liabilities 2011: $7,112,197Net Assets 2011: $2,737,4432011Assets 2012: $10,287,918Liabilities 2012: $8,041,457Net Assets 2012: $2,246,4612012Assets 2013: $11,860,223Liabilities 2013: $9,007,689Net Assets 2013: $2,852,5342013Assets 2014: $11,050,169Liabilities 2014: $8,423,888Net Assets 2014: $2,626,2812014Assets 2015: $12,234,851Liabilities 2015: $9,343,666Net Assets 2015: $2,891,1852015Assets 2016: $19,391,402Liabilities 2016: $12,548,415Net Assets 2016: $6,842,9872016Assets 2017: $16,572,504Liabilities 2017: $12,135,240Net Assets 2017: $4,437,2642017Assets 2018: $18,959,818Liabilities 2018: $14,438,299Net Assets 2018: $4,521,5192018Assets 2019: $20,358,806Liabilities 2019: $16,010,287Net Assets 2019: $4,348,5192019Assets 2020: $23,453,108Liabilities 2020: $19,809,621Net Assets 2020: $3,643,4872020Assets 2021: $31,795,394Liabilities 2021: $26,044,681Net Assets 2021: $5,750,7132021Assets 2022: $26,919,241Liabilities 2022: $18,731,773Net Assets 2022: $8,187,4682022Assets 2023: $27,951,331Liabilities 2023: $18,717,214Net Assets 2023: $9,234,1172023Assets 2024: $30,573,077Liabilities 2024: $21,190,481Net Assets 2024: $9,382,5962024

Highlighted filing

2014

Assets$11,050,169
Liabilities$8,423,888
Net Assets$2,626,281

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0M-$4.0MRevenue 2010: $2,935,527Expenses 2010: $1,591,746Net Income 2010: $1,343,7812010Expenses 2011: $1,349,2972011Expenses 2012: $1,305,9072012Revenue 2013: $2,159,177Expenses 2013: $1,553,104Net Income 2013: $606,0732013Revenue 2014: $1,326,782Expenses 2014: $1,553,035Net Income 2014: -$226,2532014Revenue 2015: $1,811,674Expenses 2015: $1,541,139Net Income 2015: $270,5352015Revenue 2016: $5,518,333Expenses 2016: $1,568,228Net Income 2016: $3,950,1052016Revenue 2017: $1,036,877Expenses 2017: $3,450,603Net Income 2017: -$2,413,7262017Revenue 2018: $1,974,779Expenses 2018: $1,882,960Net Income 2018: $91,8192018Revenue 2019: $1,797,364Expenses 2019: $1,982,312Net Income 2019: -$184,9482019Revenue 2020: $1,350,057Expenses 2020: $2,058,695Net Income 2020: -$708,6382020Revenue 2021: $4,238,589Expenses 2021: $2,155,004Net Income 2021: $2,083,5852021Revenue 2022: $4,959,860Expenses 2022: $2,498,380Net Income 2022: $2,461,4802022Revenue 2023: $3,996,660Expenses 2023: $2,957,387Net Income 2023: $1,039,2732023Revenue 2024: $3,254,579Expenses 2024: $3,111,936Net Income 2024: $142,6432024

Highlighted filing

2014

Revenue$1,326,782
Expenses$1,553,035
Net Income-$226,253
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Aug 12, 2015
Return Version
2014v5.0
Gross Receipts
$1,335,326
Mission and Program Overview

Mission

Opportunity Resource Fund (OppFund) promotes affordable housing, small business ownership, single family mortgages, strong communities, and fosters social and economic justice by providing loans and development services throughout the state of Michigan. By making funds available to those denied access to traditional capital, OppFund is breaking the cycle of poverty and assisting in the revitalization of Michigan neighborhoods and communities. Pre and post loan closing development services are a provision of services offered to individuals, nonprofits, and business owners.OppFund is a certified community development financial institution and functions as a revolving loan fund. It accepts socially motivated investments from individuals, not for profit organizations and banks with interest rates ranging generally from zero to three percent. These investment dollars are pooled to provide loans at affordable rates for real estate development, small business and homeownership loans.

Promotes affordable home and small business ownership to benefit and strengthen MI Communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$8,121,419$7,901,636▼ $219,783
Savings and Temporary Cash Investments$1,846,966$2,541,448▲ $694,482
Cash and Non-Interest-Bearing Accounts$68,256$202,746▲ $134,490
Loans From Officers Directors$99,005$105,000▲ $5,995
Pledges and Grants Receivable$1,472,519$64,179▼ $1,408,340
Land, Buildings, and Equipment, Net$82,476$62,642▼ $19,834
Accounts Receivable$41,931$49,678▲ $7,747
Prepaid Expenses and Deferred Charges$52,776$42,047▼ $10,729
Total Assets$11,860,223$11,050,169▼ $810,054
Other Assets Total$173,880$185,793▲ $11,913
Liabilities
Mortgage Notes Payable Secured by Investment Property$8,603,499$7,993,696▼ $609,803
Other Liabilities$182,267$211,131▲ $28,864
Accounts Payable and Accrued Expenses$71,893$64,199▼ $7,694
Escrow Account Liability$51,025$49,862▼ $1,163
Total Liabilities$9,007,689$8,423,888▼ $583,801
Net Assets / Fund Balance
Unrestricted Net Assets$1,091,729$1,324,464▲ $232,735
Temporarily Rstr Net Assets$1,347,000$1,283,230▼ $63,770
Permanently Rstr Net Assets$413,805$18,587▼ $395,218
Total Net Assets Fund Balance$2,852,534$2,626,281▼ $226,253
Total Liabilities and Net Assets / Fund Balance$11,860,223$11,050,169▼ $810,054

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$30,116$106,106$136,222
Other Land Buildings$32,526$53,524$86,050

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$10,500-▲ $736$736$10,500
2013$10,500-▲ $740$740$10,500
2012$10,500-▲ $900$900$10,500
2011$10,500-▲ $630$630$10,500
2010$10,500-▲ $598$598$10,500
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Christine Coady NarayananPresident/CEOFT$132,939$1,000$133,939
Debra Fedewa CPA CGMAVP of Finance/CFOFT$111,570$9,675$121,245
Timothy StraszVP of LendingFT$102,594$5,109$107,703

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$749,149
Program Service Revenue
$567,723
Investment Income
$2,561
Other Revenue
$7,349
All Other Contributions
$739,548
Change in Net Assets
$-226,253

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,326,782
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$8,544
Total Revenue per Audited Statements
$1,335,326
Total Revenue per Form 990
$1,326,782
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$848,834
Other Expenses$704,201
Total Fundraising Expense$32,370
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$308,406$116,060$14,401$438,867
Current Officers, Directors, Trustees, and Key Employees$179,326$67,484$8,374$255,184
Interest$235,803--$235,803
Fees for Services Other$86,824$17,001$1,332$105,157
Other Employee Benefits$58,269$21,928$2,721$82,918
Occupancy$67,254$10,268$963$78,485
Payroll Taxes$46,264$17,410$2,160$65,834
Office Expenses$39,888$9,764$411$50,063
Fees for Services Legal$40,396$7,910$620$48,926
Information Technology$28,605$4,052$380$33,037
Conferences and Meetings$21,169$5,321-$26,490
Depreciation Depletion$21,224$3,955$371$25,550
Fees for Services Accounting$18,185$3,561$279$22,025
Insurance$15,244$1,284$141$16,669
Advertising$8,287$206$19$8,512
Pension Plan Contributions$4,238$1,595$198$6,031
Other Expenses$-171,769$603$0$-171,769
Total Functional Expenses$1,232,263$288,402$32,370$1,553,035

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,561,579
Expenses per Audited Statements$1,553,035
Total Expenses per Form 990$1,553,035
Expenses Not Reported on Form 990$8,544
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$8,544
Fundraising Gross Income$4,799
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$99,005$105,000▲ $5,995
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Department of Community Health$211,131
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11

It is OppFund's policy for its board of trustees to receive and review the IRS Form 990 filed each year on behalf of OppFund before it is filed with the IRS. The means of delivery may be via hard copy or email to each board member's mailing address or email address. Upon a vote and acceptance by the board of trustees, the Form 990 may be filed with the IRS.

Form 990, Part VI, Section B, line 12C

Board of Trustees, officers, and staff members are required to disclose conflicts as they arise. After disclosure of the financial interest and all material facts, and any discussion with the interested person, the interested person will leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members decide if a conflict of interest exists. If a conflict of interest is determined to exist, the governing board or committee will determine the appropriate actions to be taken.

Form 990, Part VI, Section B, line 15

The compensation of the person is reviewed and approved by independent members of the Board of Trustees of OppFund, provided persons with conflicts of interest with respect to the compensation arrangement at issue are not involved in the review and approval. The review and approval of the person's compensation is made using compensation data for similarly qualified persons in functionally comparable positions at similarly situated organizations. The review and approval process is documented by the Board of Trustees via documentation and recordkeeping with respect to the deliberations and decisions regarding the compensation arrangement.

Form 990, Part VI, Section C, line 19

All information is available upon request. Form 990 is also posted annually on Guidestar's website. OppFund is registered to solicit in the State of Michigan and provides Form 990 and audited financial statements to the Michigan Attorney General's Office where it is public information.

Filing and Contact Details

Filer

Filer Name
Opportunity Resource Fund
EIN
38-2784136
Phone
5173726001
Address
330 Marshall Street No 105, Lansing, MI 48912

Signing Officer

Name
Christine Coady Narayanan
Title
President/CEO
Phone
5173726001
Signed
2015-08-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christine Coady Narayanan
Formed
1985
Legal Domicile
Mi
Voting Board Members
13
Independent Board Members
13
Employees
13
Volunteers
15

Preparer

Firm
Maner Costerisan PC
Address
2425 E Grand River Suite 1, Lansing, MI 48912-3291
Preparer
Dennis D Theis CPA
Phone
5173237500
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

OppFund has a committee to assume responsibility for oversight of the audit of its financial statements and selection of an independent accountant. This process has not changed from the prior year.

Form 4562

Employer Identification Number: 38-2784136 For the year ended December 31, 2014 Opportunity Resource Fund, hereby elects, pursuant to IRC sec. 168(K)(2)(D)(III), not to claim the additional 50% depreciation allowable under IRC sec. 168(K) for the following qualifying property placed in service during the tax year ending December 31, 2014. All property in the 5 year class.

Financial Statement Notes

Part IV, Line 2B:

Opportunity Resource Fund escrows funds for the payment of property taxes and insurance premiums for mortgages held by OppFund.

Part V, Line 4:

This fund consists of permanently restricted capital invested to provide general operating monies from the investment income.

Part X, Line 2:

In the preparation of tax returns, tax positions are taken based on interpretation of federal, state and local income tax laws. Management periodically reviews and evaluates the status of uncertain tax positions and makes estimates of amounts, including interest and penalties, ultimately due or owed. No amounts have been identified, or recorded, as uncertain tax positions. Federal, state, and local tax returns generally remain open for examination by the various taxing authorities for a period of three to four years.

Part XI, Line 2D - Other Adjustments:

Direct expense special events 8,544.

Part XII, Line 2D - Other Adjustments:

Direct expense special events 8,544.

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IRS990/Desc0OppFund's history of successful lending spans almost 30 years. Commitment and diligence has earned OppFund a reputation as a solid, dependable, and flexible lender and development services provider throughout the state of Michigan. As a recognized Michigan lender, OppFund seeks collaboration opportunities and has strong relationships and positive partnerships with key concerns in Michigan's economic community. Since 1985, OppFund has loaned almost $37 million providing 290 real estate development, 78 small business, 11 consumer, and 21 homeownership loans. These loans have leveraged almost $165 million from public and private investments helping to create 2,523 units of affordable housing, 616 jobs, and ensuring at least 125 children are safer in organized daycare facilities. In addition, 418,733 square feet of primarily commercial space has been developed or rehabbed.OppFund relies upon its 2013 - 20l7 Strategic Plan in its continuing quest to act as a catalyst for change to benefit and strengthen Michigan communities. The Strategic Plan includes a lending goal of almost $20 million over the next three years to further provide financing for the creation, renovation, and/or preservation of a projected 392 units of affordable housing, assist 51 individual homeowners, and help to fuel Michigan's economy with the creation of 1,800 jobs. Specifically, in 2014, OppFund loaned $826,020 and leveraged almost $9 million with two real estate development, seven small business, and one homeownership loans closed. These loans helped to create 11 units of affordable housing, and 18 jobs. In addition, 67,004 square feet of primarily commercial space has been developed or rehabbed.
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IRS990/Form990PartVIISectionAGrp/PersonNm2Bryan Kieler
IRS990/Form990PartVIISectionAGrp/PersonNm3Lawrence Williamson
IRS990/Form990PartVIISectionAGrp/PersonNm4Marc Craig
IRS990/Form990PartVIISectionAGrp/PersonNm5Thomas H Seabron
IRS990/Form990PartVIISectionAGrp/PersonNm6Rev Elizabeth Morris Downie
IRS990/Form990PartVIISectionAGrp/PersonNm7Gehad Alawan
IRS990/Form990PartVIISectionAGrp/PersonNm8Anthony Spokojny
IRS990/Form990PartVIISectionAGrp/PersonNm9Timothy D Wittlinger
IRS990/Form990PartVIISectionAGrp/PersonNm10J David Ivers
IRS990/Form990PartVIISectionAGrp/PersonNm11Gregg Christenson
IRS990/Form990PartVIISectionAGrp/PersonNm12Robert K Hunt
IRS990/Form990PartVIISectionAGrp/PersonNm13Marianne Talon
IRS990/Form990PartVIISectionAGrp/PersonNm14Cedric Flounory
IRS990/Form990PartVIISectionAGrp/PersonNm15Christine Coady Narayanan
IRS990/Form990PartVIISectionAGrp/PersonNm16Debra Fedewa CPA CGMA
IRS990/Form990PartVIISectionAGrp/PersonNm17Timothy Strasz
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt15132939
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt16111570
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt17102594
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt170
IRS990/Form990PartVIISectionAGrp/TitleTxt0Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt1Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt2Trustee (Retired 8/13/14)
IRS990/Form990PartVIISectionAGrp/TitleTxt3Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt4Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt5Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt6Trustee (Retired 8/13/14)
IRS990/Form990PartVIISectionAGrp/TitleTxt7Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt8Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt9Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt10Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt11Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt12Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt13Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt14Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt15President/CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt16VP of Finance/CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt17VP of Lending
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01985
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/FundraisingAmt09601
IRS990/FundraisingDirectExpensesAmt08544
IRS990/FundraisingGrossIncomeAmt04799
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt013
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt01335326
IRS990/GrossRentsGrp/RealAmt011094
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt013
IRS990/IndivRcvdGreaterThan100KCnt03
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InformationTechnologyGrp/FundraisingAmt0380
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt04052
IRS990/InformationTechnologyGrp/ProgramServicesAmt028605
IRS990/InformationTechnologyGrp/TotalAmt033037
IRS990/InsuranceGrp/FundraisingAmt0141
IRS990/InsuranceGrp/ManagementAndGeneralAmt01284
IRS990/InsuranceGrp/ProgramServicesAmt015244
IRS990/InsuranceGrp/TotalAmt016669
IRS990/InterestGrp/ProgramServicesAmt0235803
IRS990/InterestGrp/TotalAmt0235803
IRS990/InvestmentIncomeGrp/ExclusionAmt02561
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt02561
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt0119
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0159630
IRS990/LandBldgEquipBasisNetGrp/BOYAmt082476
IRS990/LandBldgEquipBasisNetGrp/EOYAmt062642
IRS990/LandBldgEquipCostOrOtherBssAmt0222272
IRS990/LegalDomicileStateCd0MI
IRS990/LessRentalExpensesGrp/RealAmt00
IRS990/LoanOutstandingInd01
IRS990/LoansFromOfficersDirectorsGrp/BOYAmt099005
IRS990/LoansFromOfficersDirectorsGrp/EOYAmt0105000
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0Opportunity Resource Fund (OppFund) promotes affordable housing, small business ownership, single family mortgages, strong communities, and fosters social and economic justice by providing loans and development services throughout the state of Michigan. By making funds available to those denied access to traditional capital, OppFund is breaking the cycle of poverty and assisting in the revitalization of Michigan neighborhoods and communities. Pre and post loan closing development services are a provision of services offered to individuals, nonprofits, and business owners.OppFund is a certified community development financial institution and functions as a revolving loan fund. It accepts socially motivated investments from individuals, not for profit organizations and banks with interest rates ranging generally from zero to three percent. These investment dollars are pooled to provide loans at affordable rates for real estate development, small business and homeownership loans.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt08603499
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt07993696
IRS990/NetAssetsOrFundBalancesBOYAmt02852534
IRS990/NetAssetsOrFundBalancesEOYAmt02626281
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt0-3745
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt0-3745
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt011094
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt011094
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/FundraisingAmt0963
IRS990/OccupancyGrp/ManagementAndGeneralAmt010268
IRS990/OccupancyGrp/ProgramServicesAmt067254
IRS990/OccupancyGrp/TotalAmt078485
IRS990/OfficeExpensesGrp/FundraisingAmt0411
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt09764
IRS990/OfficeExpensesGrp/ProgramServicesAmt039888
IRS990/OfficeExpensesGrp/TotalAmt050063
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0173880
IRS990/OtherAssetsTotalGrp/EOYAmt0185793
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt02721
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt021928
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt058269
IRS990/OtherEmployeeBenefitsGrp/TotalAmt082918
IRS990/OtherExpensesGrp/Desc0Property Write Down
IRS990/OtherExpensesGrp/Desc1Miscellaneous
IRS990/OtherExpensesGrp/Desc2Loan Loss Provision
IRS990/OtherExpensesGrp/FundraisingAmt00
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0603
IRS990/OtherExpensesGrp/ProgramServicesAmt0224542
IRS990/OtherExpensesGrp/ProgramServicesAmt1108
IRS990/OtherExpensesGrp/ProgramServicesAmt2-171769
IRS990/OtherExpensesGrp/TotalAmt0224542
IRS990/OtherExpensesGrp/TotalAmt1711
IRS990/OtherExpensesGrp/TotalAmt2-171769
IRS990/OtherLiabilitiesGrp/BOYAmt0182267
IRS990/OtherLiabilitiesGrp/EOYAmt0211131
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt014401
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0116060
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0308406
IRS990/OtherSalariesAndWagesGrp/TotalAmt0438867
IRS990/OtherWebsiteInd0X
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt08121419
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt07901636
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt02160
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt017410
IRS990/PayrollTaxesGrp/ProgramServicesAmt046264
IRS990/PayrollTaxesGrp/TotalAmt065834
IRS990/PensionPlanContributionsGrp/FundraisingAmt0198
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt01595
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt04238
IRS990/PensionPlanContributionsGrp/TotalAmt06031
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt0413805
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt018587
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt01472519
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt064179
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt052776
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt042047
IRS990/PrincipalOfficerNm0Christine Coady Narayanan
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1525990
IRS990/ProgramServiceRevenueGrp/BusinessCd2525990
IRS990/ProgramServiceRevenueGrp/BusinessCd3900099
IRS990/ProgramServiceRevenueGrp/Desc0Interest Income - Loan
IRS990/ProgramServiceRevenueGrp/Desc1Loan Origination Fees
IRS990/ProgramServiceRevenueGrp/Desc2Consumer Loan Fund
IRS990/ProgramServiceRevenueGrp/Desc3Other Income
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0519899
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt124028
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt222000
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt31796
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0519899
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt124028
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt222000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt31796
IRS990/ProgSrvcAccomActy2Grp/Desc0OppFund has witnessed firsthand community investment is a growth catalyst for communities and those who live and work in those communities. Team members provide development services, directly or through various strategic partnerships with specialized providers or local learning institutions, developed over time to enhance the success of its borrowers. This available, affordable capital, combined with critical financial and technical support, is a key factor and catalyst in successful community and individual development.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt09466
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt01796
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01525792
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt07370
IRS990/PYOtherExpensesAmt0705208
IRS990/PYOtherRevenueAmt0918
IRS990/PYProgramServiceRevenueAmt0625097
IRS990/PYRevenuesLessExpensesAmt0606073
IRS990/PYSalariesCompEmpBnftPaidAmt0843100
IRS990/PYTotalExpensesAmt01553104
IRS990/PYTotalProfFndrsngExpnsAmt04796
IRS990/PYTotalRevenueAmt02159177
IRS990/QuidProQuoContributionsInd01
IRS990/QuidProQuoContriDisclInd01
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-226253
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt011094
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0565927
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01846966

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$30.6$21.2$9.38$3.25$3.11$0.14
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.0$18.7$9.23$4.00$2.96$1.04
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.9$18.7$8.19$4.96$2.50$2.46
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$31.8$26.0$5.75$4.24$2.16$2.08
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$23.5$19.8$3.64$1.35$2.06$0.71
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$20.4$16.0$4.35$1.80$1.98$0.18
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.0$14.4$4.52$1.97$1.88$0.09
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.6$12.1$4.44$1.04$3.45$2.41
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.4$12.5$6.84$5.52$1.57$3.95
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.2$9.34$2.89$1.81$1.54$0.27
2014Detailed filing. Detailed filing data is available for this year.$11.1$8.42$2.63$1.33$1.55$0.23
2013Detailed filing. Detailed filing data is available for this year.$11.9$9.01$2.85$2.16$1.55$0.61
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.3$8.04$2.25$1.31
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.85$7.11$2.74$1.35
2010Summary only. Only limited summary data is available for this year.$9.01$6.55$2.47$2.94$1.59$1.34
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2014 filings • 501(c)3 • $10M-$25M nonprofits