Civic Intelligence

Opportunity Resource Fund

990 • Fiscal year 2023 • EIN 38-2784136

Jan 01, 2023 to Dec 31, 2023 • Filed on May 17, 2024

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

82nd percentile

0.67x

Higher debt load relative to assets than 82% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

93rd percentile

4.68x

Higher debt load relative to revenue than 93% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Net Margin

82nd percentile

26%

Higher net margin than 82% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

36th percentile

$203,770

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 5.1% of source-year revenue.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Asset Growth

41st percentile

3.8%

Faster asset growth than 41% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

17th percentile

-19%

Faster revenue growth than 17% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Assets

Up

$27,951,331

Up $1,032,090 (+3.8%) from 2022

Net Assets

Up

$9,234,117

Up $1,046,649 (+13%) from 2022

Liabilities

Down

$18,717,214

Down $14,559 (-0.1%) from 2022

Revenue

Down

$3,996,660

Down $963,200 (-19%) from 2022

Expenses

Up

$2,957,387

Up $459,007 (+18%) from 2022

Net Income

Down

$1,039,273

Down $1,422,207 (-58%) from 2022

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

2023

Assets$27,951,331
Liabilities$18,717,214
Net Assets$9,234,117

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

2023

Revenue$3,996,660
Expenses$2,957,387
Net Income$1,039,273
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 17, 2024
Return Version
2023v5.0
Gross Receipts
$3,996,660
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$14,615,589$18,054,259▲ $3,438,670
Savings and Temporary Cash Investments$2,481,102$5,776,195▲ $3,295,093
Cash and Non-Interest-Bearing Accounts$5,680,247$2,463,374▼ $3,216,873
Pledges and Grants Receivable$3,689,802$1,155,278▼ $2,534,524
Accounts Receivable$111,868$199,529▲ $87,661
Prepaid Expenses and Deferred Charges$52,452$59,395▲ $6,943
Loans From Officers Directors$3,000$5,000▲ $2,000
Land, Buildings, and Equipment, Net$5,884$3,756▼ $2,128
Total Assets$26,919,241$27,951,331▲ $1,032,090
Other Assets Total$282,297$239,545▼ $42,752
Liabilities
Mortgage Notes Payable Secured by Investment Property$17,415,657$17,604,914▲ $189,257
Other Liabilities$463,459$412,571▼ $50,888
Deferred Revenue$381,177$380,786▼ $391
Accounts Payable and Accrued Expenses$135,405$164,454▲ $29,049
Escrow Account Liability$333,075$149,489▼ $183,586
Total Liabilities$18,731,773$18,717,214▼ $14,559
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,535,534$8,029,107▲ $3,493,573
Net Assets With Donor Restrictions$3,651,934$1,205,010▼ $2,446,924
Total Net Assets Fund Balance$8,187,468$9,234,117▲ $1,046,649
Total Liabilities and Net Assets / Fund Balance$26,919,241$27,951,331▲ $1,032,090

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,756$65,699$69,455
Other Land Buildings$0$62,052$62,052

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$10,500---$10,500
2022$10,500---$10,500
2021$10,500---$10,500
2020$10,500---$10,500
2019$10,500---$10,500
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Christine Coady NarayananPresident/CEOFT$202,770$1,000$203,770
Kevin FitzgeraldVP of Finance/CFOFT$175,353$1,000$176,353

Board Members and Trustees

NameTitle
Marc CraigBoard Chair
Sheilah P ClayVice Chair
Anika GossTrustee
Carol TarnowskyTrustee
Curtis SmithTrustee
Raymond HenneyTrustee
Robert HuntTrustee
Tarik BazzyTrustee
Sonali AllenSecretary
Thomas JohnsonTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Ampro ConstructionConstruction13501 Mt Elliott, Detroit, MI 48212$254,695
Jonmar ConstructionConstruction48 Maple St, River Rouge, MI 48218$129,261
Revenue and Support

Revenue Composition

Contributions and Grants
$2,739,955
Program Service Revenue
$1,237,735
Investment Income
$18,970
Other Revenue
$0
All Other Contributions
$240,716
Change in Net Assets
$1,039,273

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,996,660
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$7,376
Total Revenue per Audited Statements
$4,004,036
Total Revenue per Form 990
$3,996,660
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,563,535
Other Expenses$1,343,175
Grants and Similar Amounts Paid$50,677
Total Fundraising Expense$25,116
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$608,490$238,325$12,168$858,983
Current Officers, Directors, Trustees, and Key Employees$269,273$105,465$5,385$380,123
Interest$329,751--$329,751
Other Employee Benefits$145,207$56,873$2,904$204,984
Office Expenses$125,000$23,900$1,004$149,904
Fees for Services Other$73,550$46,606$38$120,194
Payroll Taxes$76,521$29,971$1,530$108,022
Occupancy$75,879$23,510$1,513$100,902
Fees for Services Accounting$37,625$23,842$19$61,486
Conferences and Meetings$28,097$32,228-$60,325
Grants to Domestic Orgs$50,677--$50,677
Insurance$13,010$2,053$120$15,183
Advertising$7,660$4,145$270$12,075
Pension Plan Contributions$8,092$3,169$162$11,423
Fees for Services Legal$5,982$3,791$3$9,776
Travel$3,000$3,441-$6,441
Other Expenses$2,170$1,905$0$2,170
Depreciation Depletion-$2,129-$2,129
Total Functional Expenses$2,330,918$601,353$25,116$2,957,387

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,957,387
Total Expenses per Audited Statements$2,957,387
Total Expenses per Form 990$2,957,387
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Wimage LLCGrand Rapids, MI-To support the production of an educational program for PBS children's streaming services.$20,400
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$3,000$5,000▲ $2,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Department of Community Health$274,020
Operating Lease Liability$138,551
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
2024-05-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin Fitzgerald
Formed
1985
Legal Domicile
Mi
Voting Board Members
10
Independent Board Members
10
Employees
19
Volunteers
10

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 39 years. Commitment and diligence have 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 $77.3 million providing 422 real estate development, 224 small business, 11 consumer, 265 Payroll Protection Program loans under the CARES Act, and 466 homeownership loans. These loans have leveraged more than $190 million from public and private investments helping to create or maintain 3,204 units of affordable housing, 1914 jobs, 678 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/PersonNm9Carol Tarnowsky
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/ReportableCompFromOrgAmt10202770
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt11175353
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/TitleTxt0Board Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt1Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt2Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt3Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt4Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt5Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt6Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt7Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt8Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt9Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt10President/CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt11VP of Finance/CFO
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01985
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
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IRS990/GrantAmt050677
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IRS990/GrantsToDomesticOrgsGrp/TotalAmt050677
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt03996660
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt010
IRS990/IndivRcvdGreaterThan100KCnt02
IRS990/IndoorTanningServicesInd00
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IRS990/InfoInScheduleOPartVIInd0X
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IRS990/InsuranceGrp/ManagementAndGeneralAmt02053
IRS990/InsuranceGrp/ProgramServicesAmt013010
IRS990/InsuranceGrp/TotalAmt015183
IRS990/InterestGrp/ProgramServicesAmt0329751
IRS990/InterestGrp/TotalAmt0329751
IRS990/InvestmentIncomeGrp/ExclusionAmt018970
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt018970
IRS990/InvestmentInJointVentureInd00
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IRS990/LandBldgEquipBasisNetGrp/EOYAmt03756
IRS990/LandBldgEquipCostOrOtherBssAmt0131507
IRS990/LegalDomicileStateCd0MI
IRS990/LoanOutstandingInd01
IRS990/LoansFromOfficersDirectorsGrp/BOYAmt03000
IRS990/LoansFromOfficersDirectorsGrp/EOYAmt05000
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/BOYAmt017415657
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt017604914
IRS990/NetAssetsOrFundBalancesBOYAmt08187468
IRS990/NetAssetsOrFundBalancesEOYAmt09234117
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt07376
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt04535534
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt08029107
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/FundraisingAmt01513
IRS990/OccupancyGrp/ManagementAndGeneralAmt023510
IRS990/OccupancyGrp/ProgramServicesAmt075879
IRS990/OccupancyGrp/TotalAmt0100902
IRS990/OfficeExpensesGrp/FundraisingAmt01004
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt023900
IRS990/OfficeExpensesGrp/ProgramServicesAmt0125000
IRS990/OfficeExpensesGrp/TotalAmt0149904
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0282297
IRS990/OtherAssetsTotalGrp/EOYAmt0239545
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt02904
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt056873
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0145207
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0204984
IRS990/OtherExpensesGrp/Desc0Loan Loss Provision
IRS990/OtherExpensesGrp/Desc1Miscellaneous
IRS990/OtherExpensesGrp/Desc2Property Charge off
IRS990/OtherExpensesGrp/FundraisingAmt00
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt01905
IRS990/OtherExpensesGrp/ProgramServicesAmt0462126
IRS990/OtherExpensesGrp/ProgramServicesAmt18808
IRS990/OtherExpensesGrp/ProgramServicesAmt22170
IRS990/OtherExpensesGrp/TotalAmt0462126
IRS990/OtherExpensesGrp/TotalAmt110713
IRS990/OtherExpensesGrp/TotalAmt22170
IRS990/OtherLiabilitiesGrp/BOYAmt0463459
IRS990/OtherLiabilitiesGrp/EOYAmt0412571
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt012168
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0238325
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0608490
IRS990/OtherSalariesAndWagesGrp/TotalAmt0858983
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt014615589
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt018054259
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt01530
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt029971
IRS990/PayrollTaxesGrp/ProgramServicesAmt076521
IRS990/PayrollTaxesGrp/TotalAmt0108022
IRS990/PensionPlanContributionsGrp/FundraisingAmt0162
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt03169
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt08092
IRS990/PensionPlanContributionsGrp/TotalAmt011423
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt03689802
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01155278
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt052452
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt059395
IRS990/PrincipalOfficerNm0Kevin Fitzgerald
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1525990
IRS990/ProgramServiceRevenueGrp/BusinessCd2525990
IRS990/ProgramServiceRevenueGrp/BusinessCd3900099
IRS990/ProgramServiceRevenueGrp/Desc0Interest Income - Loan
IRS990/ProgramServiceRevenueGrp/Desc1Contractual Services
IRS990/ProgramServiceRevenueGrp/Desc2Loan Origination Fees
IRS990/ProgramServiceRevenueGrp/Desc3Other Income
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0842338
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1213847
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2162428
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt319122
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0842338
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1213847
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2162428
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt319122
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/RevenueAmt019122
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt03952856
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt037832
IRS990/PYInvestmentIncomeAmt04336
IRS990/PYOtherExpensesAmt01048539
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt01002668
IRS990/PYRevenuesLessExpensesAmt02461480
IRS990/PYSalariesCompEmpBnftPaidAmt01412009
IRS990/PYTotalExpensesAmt02498380
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt04959860
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt01039273
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt01218613
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02481102
IRS990/SavingsAndTempCashInvstGrp/EOYAmt05776195
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearAmt05000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus1YearAmt05000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus2YearsAmt05000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt015000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt02739955
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt03952856
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt02450102
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0316716
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0902253
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt010361882
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt018970
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt04336
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0516
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0618
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt01776
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt026216
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt01237735
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt01002668
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt01787971
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt01032723
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0893335
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt05954432
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt018970
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt04336
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0516
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0618
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt01776
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt026216
IRS990ScheduleA/InvestmentIncomeCYPct00.00160
IRS990ScheduleA/InvestmentIncomePYPct00.00070
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99220
IRS990ScheduleA/PublicSupportPY509Pct00.93600
IRS990ScheduleA/PublicSupportTotal509Amt016214815
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt05000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt05000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt05000

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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
2023Detailed filing. Detailed filing data is available for this year.$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