Civic Intelligence

Opportunity Resource Fund

990 • Fiscal year 2021 • EIN 38-2784136

Jan 01, 2021 to Dec 31, 2021 • Filed on Aug 22, 2022

330 Marshall Street 105Lansing, MI 48912

(517) 372-6001

Siviq Scores

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

Liabilities / Assets

88th percentile

0.82x

Higher debt load relative to assets than 88% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Liabilities / Revenue

95th percentile

6.14x

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

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Net Margin

86th percentile

49%

Higher net margin than 86% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Top Officer Pay

27th percentile

$164,193

Higher top officer pay than 27% of similar nonprofits.

Top officer pay equals 3.9% of source-year revenue.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Asset Growth

87th percentile

36%

Faster asset growth than 87% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Revenue Growth

95th percentile

214%

Faster revenue growth than 95% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Assets

Up

$31,795,394

Up $8,342,286 (+36%) from 2020

Net Assets

Up

$5,750,713

Up $2,107,226 (+58%) from 2020

Liabilities

Up

$26,044,681

Up $6,235,060 (+31%) from 2020

Revenue

Up

$4,238,589

Up $2,888,532 (+214%) from 2020

Expenses

Up

$2,155,004

Up $96,309 (+4.7%) from 2020

Net Income

Up

$2,083,585

Up $2,792,223 (+394%) from 2020

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

2021

Assets$31,795,394
Liabilities$26,044,681
Net Assets$5,750,713

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

2021

Revenue$4,238,589
Expenses$2,155,004
Net Income$2,083,585
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Aug 22, 2022
Return Version
2021v4.2
Gross Receipts
$4,238,589
Mission and Program Overview

Mission

The OppFund promotes affordable homes, 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, the 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.The 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. Investment dollars become pooled and recycled to provide loans at affordable rates to community based organizations and individuals for affordable housing, comm

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$15,788,024$22,362,727▲ $6,574,703
Savings and Temporary Cash Investments$2,806,164$5,517,709▲ $2,711,545
Cash and Non-Interest-Bearing Accounts$4,327,314$3,455,302▼ $872,012
Accounts Receivable$95,599$151,533▲ $55,934
Pledges and Grants Receivable$237,677$139,604▼ $98,073
Prepaid Expenses and Deferred Charges$82,042$40,261▼ $41,781
Land, Buildings, and Equipment, Net$22,347$10,675▼ $11,672
Loans From Officers Directors$4,000$3,000▼ $1,000
Total Assets$23,453,108$31,795,394▲ $8,342,286
Other Assets Total$93,941$117,583▲ $23,642
Liabilities
Mortgage Notes Payable Secured by Investment Property$18,279,868$24,914,145▲ $6,634,277
Deferred Revenue$428,549$408,906▼ $19,643
Escrow Account Liability$683,916$335,230▼ $348,686
Other Liabilities$274,020$274,020→ $0
Accounts Payable and Accrued Expenses$139,268$109,380▼ $29,888
Total Liabilities$19,809,621$26,044,681▲ $6,235,060
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,905,802$4,890,885▲ $1,985,083
Net Assets With Donor Restrictions$737,685$859,828▲ $122,143
Total Net Assets Fund Balance$3,643,487$5,750,713▲ $2,107,226
Total Liabilities and Net Assets / Fund Balance$23,453,108$31,795,394▲ $8,342,286

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$10,675$100,531$111,206
Other Land Buildings$0$62,052$62,052

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$10,500---$10,500
2020$10,500---$10,500
2019$10,500---$10,500
2018$10,500---$10,500
2017$10,500-▲ $984$984$10,500
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Christine Coady NarayananPresident/CEOFT$163,193$1,000$164,193
Kevin FitzgeraldVP of Finance/CFOFT$137,167$1,000$138,167

Board Members and Trustees

NameTitle
Amy HoveyBoard Chair
Thomas SeabronVice Chair
Curtis SmithTrustee
Raymond HenneyTrustee
Robert HuntTrustee
Sonali AllenTrustee
Tarik BazzyTrustee
Thomas JohnsonTrustee
Sheilah P ClaySecretary
Marc CraigTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Fortune BuildersConstruction417 Fox Hills Dr, N Bloomfield Hills, MI 48307$156,255
OMP Construction IncConstruction29100 Dardanella St, Livonia MI, MI 48152$129,185
Ampro ConstructionConstruction13501 Mt Elliot, Detroit, MI 48212$109,140
Revenue and Support

Revenue Composition

Contributions and Grants
$2,450,102
Program Service Revenue
$1,787,971
Investment Income
$516
Other Revenue
$0
All Other Contributions
$487,597
Change in Net Assets
$2,083,585

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,238,589
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$23,641
Total Revenue per Audited Statements
$4,262,230
Total Revenue per Form 990
$4,238,589
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,178,398
Other Expenses$916,773
Grants and Similar Amounts Paid$59,833
Total Fundraising Expense$13,666
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$448,913$207,892$6,634$663,439
Interest$343,823--$343,823
Current Officers, Directors, Trustees, and Key Employees$204,590$94,746$3,023$302,359
Office Expenses$125,817$23,744$690$150,251
Other Employee Benefits$81,649$37,812$1,207$120,668
Occupancy$77,203$16,586$527$94,316
Payroll Taxes$54,687$25,326$808$80,821
Fees for Services Other$72,947$7,158$228$80,333
Grants to Domestic Orgs$59,833--$59,833
Fees for Services Accounting$33,023$3,240$103$36,366
Fees for Services Legal$19,976$1,960$62$21,998
Conferences and Meetings$17,688$1,272$41$19,001
Insurance$11,377$2,820$95$14,292
Depreciation Depletion$8,753$2,829$90$11,672
Pension Plan Contributions$7,518$3,482$111$11,111
Other Expenses$3,766$1,420$41$5,227
Travel$2,255$162$5$2,422
Advertising$1,676$31$1$1,708
Total Functional Expenses$1,710,858$430,480$13,666$2,155,004

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,155,004
Total Expenses per Audited Statements$2,155,004
Total Expenses per Form 990$2,155,004
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
CDFI CoalitionWashington, DC501(c)(3)Grant Issued for CDFI fund use.$59,833
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
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$4,000$3,000▼ $1,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Department of Community Health$274,020
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 35% controlled entity
No
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 11B

Opportunity Resource Fund's (OppFund) policy is for the 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, or via electronic portal. Upon a vote and acceptance by the Board of Trustees, the IRS Form 990 is 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 OppFund's Board of Trustees, 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 105, Lansing, MI 48912

Signing Officer

Name
Kevin Fitzgerald
Title
CFO
Phone
5173726001
Signed
2022-08-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin Fitzgerald
Formed
1985
Legal Domicile
Mi
Voting Board Members
11
Independent Board Members
11
Employees
14
Volunteers
11

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

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.

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IRS990/Desc0OppFund's history of successful lending spans more than 36 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 more than $68.8 million providing 409 real estate development, 180 small business, 11 consumer, 265 Payroll Protection Program loans under the CARES Act, and 466 homeownership loans. These loans have leveraged more than $187 million from public and private investments helping to create or maintain 3,014 units of affordable housing, 1797 jobs, 534 new or safer housing for predominantly low and moderate-income families, and ensuring at least 125 children are safer in organized daycare facilities. OppFund loans empower people throughout the state of Michigan.
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IRS990/Form990PartVIISectionAGrp/PersonNm0Tarik Bazzy
IRS990/Form990PartVIISectionAGrp/PersonNm1Thomas Johnson
IRS990/Form990PartVIISectionAGrp/PersonNm2Sonali Allen
IRS990/Form990PartVIISectionAGrp/PersonNm3Raymond Henney
IRS990/Form990PartVIISectionAGrp/PersonNm4Curtis Smith
IRS990/Form990PartVIISectionAGrp/PersonNm5Robert Hunt
IRS990/Form990PartVIISectionAGrp/PersonNm6Marc Craig
IRS990/Form990PartVIISectionAGrp/PersonNm7Sheilah P Clay
IRS990/Form990PartVIISectionAGrp/PersonNm8Thomas Seabron
IRS990/Form990PartVIISectionAGrp/PersonNm9Amy Hovey
IRS990/Form990PartVIISectionAGrp/PersonNm10Christine Coady Narayanan
IRS990/Form990PartVIISectionAGrp/PersonNm11Kevin Fitzgerald
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/ReportableCompFromOrgAmt10163193
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt11137167
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/TitleTxt0Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt1Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt2Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt3Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt4Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt5Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt6Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt7Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt8Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt9Board Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt10President/CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt11VP of Finance/CFO
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01985
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt011
IRS990/GovernmentGrantsAmt01962505
IRS990/GrantAmt059833
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt059833
IRS990/GrantsToDomesticOrgsGrp/TotalAmt059833
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt04238589
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt011
IRS990/IndivRcvdGreaterThan100KCnt02
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/FundraisingAmt095
IRS990/InsuranceGrp/ManagementAndGeneralAmt02820
IRS990/InsuranceGrp/ProgramServicesAmt011377
IRS990/InsuranceGrp/TotalAmt014292
IRS990/InterestGrp/ProgramServicesAmt0343823
IRS990/InterestGrp/TotalAmt0343823
IRS990/InvestmentIncomeGrp/ExclusionAmt0516
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0516
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt0239
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0162583
IRS990/LandBldgEquipBasisNetGrp/BOYAmt022347
IRS990/LandBldgEquipBasisNetGrp/EOYAmt010675
IRS990/LandBldgEquipCostOrOtherBssAmt0173258
IRS990/LegalDomicileStateCd0MI
IRS990/LoanOutstandingInd01
IRS990/LoansFromOfficersDirectorsGrp/BOYAmt04000
IRS990/LoansFromOfficersDirectorsGrp/EOYAmt03000
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/BOYAmt018279868
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt024914145
IRS990/NetAssetsOrFundBalancesBOYAmt03643487
IRS990/NetAssetsOrFundBalancesEOYAmt05750713
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt023641
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt02905802
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt04890885
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/FundraisingAmt0527
IRS990/OccupancyGrp/ManagementAndGeneralAmt016586
IRS990/OccupancyGrp/ProgramServicesAmt077203
IRS990/OccupancyGrp/TotalAmt094316
IRS990/OfficeExpensesGrp/FundraisingAmt0690
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt023744
IRS990/OfficeExpensesGrp/ProgramServicesAmt0125817
IRS990/OfficeExpensesGrp/TotalAmt0150251
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt093941
IRS990/OtherAssetsTotalGrp/EOYAmt0117583
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt01207
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt037812
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt081649
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0120668
IRS990/OtherExpensesGrp/Desc0Property Charge off
IRS990/OtherExpensesGrp/Desc1Loan Loss Provision
IRS990/OtherExpensesGrp/Desc2Miscellaneous
IRS990/OtherExpensesGrp/FundraisingAmt041
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt01420
IRS990/OtherExpensesGrp/ProgramServicesAmt072577
IRS990/OtherExpensesGrp/ProgramServicesAmt162787
IRS990/OtherExpensesGrp/ProgramServicesAmt23766
IRS990/OtherExpensesGrp/TotalAmt072577
IRS990/OtherExpensesGrp/TotalAmt162787
IRS990/OtherExpensesGrp/TotalAmt25227
IRS990/OtherLiabilitiesGrp/BOYAmt0274020
IRS990/OtherLiabilitiesGrp/EOYAmt0274020
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt06634
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0207892
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0448913
IRS990/OtherSalariesAndWagesGrp/TotalAmt0663439
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt015788024
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt022362727
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt0808
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt025326
IRS990/PayrollTaxesGrp/ProgramServicesAmt054687
IRS990/PayrollTaxesGrp/TotalAmt080821
IRS990/PensionPlanContributionsGrp/FundraisingAmt0111
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt03482
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt07518
IRS990/PensionPlanContributionsGrp/TotalAmt011111
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0237677
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0139604
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt082042
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt040261
IRS990/PrincipalOfficerNm0Kevin Fitzgerald
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/Desc2Contractual Services
IRS990/ProgramServiceRevenueGrp/Desc3Other Income
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0814559
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1752361
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2214759
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt36292
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0814559
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1752361
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2214759
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt36292
IRS990/ProgSrvcAccomActy2Grp/Desc0OppFund relies upon its Board-approved Strategic Plan in its continuing quest to act as a catalyst for change to benefit and strengthen Michigan communities. The Strategic Plan includes lending goals to increase financing for the creation, renovation, and/or preservation of affordable housing, assist individual homeowners, and help to fuel Michigan's economy with the creation of jobs. OppFund launched the Justice Fund Initiative to better serve our minority borrowers which includes a full campus without walls and full wrap-around technical support services. We believe this is a positive step in eliminating the racial wealth gap
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt06292
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0316716
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0618
IRS990/PYOtherExpensesAmt0747920
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt01032723
IRS990/PYRevenuesLessExpensesAmt0-708638
IRS990/PYSalariesCompEmpBnftPaidAmt01310775
IRS990/PYTotalExpensesAmt02058695
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01350057
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt02083585
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt01781679
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02806164
IRS990/SavingsAndTempCashInvstGrp/EOYAmt05517709
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearAmt05000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus4YearsAmt05000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt010000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt02450102
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0316716
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0902253
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt01067590
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0155243
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt04891904
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0516
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0618
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt01776
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt02530
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt04038
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt09478
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt01787971
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt01032723
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0893335
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0904659
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0877596
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt05496284
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0516
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0618
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt01776
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt02530
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt04038
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt09478

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
2021Detailed filing. Detailed filing data is available for this year.$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