Civic Intelligence

Opportunity Alabama Inc

EIN 83-2134053 • 501(c)3 • Birmingham, AL

Profile

Founded in 2018, opportunity alabama (opal) is an economic development organization committed to creating a national model of sustainable economic development through community-led, place-based investments. We help underserved communities leverage diverse funding sources for projects and initiatives that improve quality of place and/or enhance the built environment. Most of that work involves closing access to capital gaps in low-income communities, in economically distressed communities, and/or within disadvantaged populations (including, but not limited to, minority- and women-owned businesses, residents of low-income areas, etc.). Through that work, we remediate blight, improve general economic and societal conditions, combat community deterioration, and/or preserve the traditions, architecture, and appearance of the communities we serve.

1914 Third Ave N C-1Birmingham, AL 35203

www.opportunityalabama.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

77th percentile

0.36x

Higher debt load relative to assets than 77% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

82nd percentile

0.55x

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

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

70th percentile

17%

Higher net margin than 70% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

88th percentile

39%

Faster asset growth than 88% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

18th percentile

-14%

Faster revenue growth than 18% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets77th percentile

Assets

Up

$3,198,547

Up $901,123 (+39%) from 2023

Liabilities

Up

$1,159,270

Up $280,948 (+32%) from 2023

Net Assets

Up

$2,039,277

Up $620,175 (+44%) from 2023

Operations
Liabilities / Revenue82nd percentileNet Margin70th percentile

Revenue

Down

$2,099,434

Down $347,169 (-14%) from 2023

Expenses

Up

$1,737,886

Up $365,590 (+27%) from 2023

Net Income

Down

$361,548

Down $712,759 (-66%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth88th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0Assets 2019: $299,769Liabilities 2019: $0Net Assets 2019: $299,7692019Assets 2020: $656,877Liabilities 2020: $100,966Net Assets 2020: $555,9112020Assets 2021: $476,898Liabilities 2021: $255,376Net Assets 2021: $221,5222021Assets 2022: $635,418Liabilities 2022: $290,623Net Assets 2022: $344,7952022Assets 2023: $2,297,424Liabilities 2023: $878,322Net Assets 2023: $1,419,1022023Assets 2024: $3,198,547Liabilities 2024: $1,159,270Net Assets 2024: $2,039,2772024

Highlighted filing

2024

Assets$3,198,547
Liabilities$1,159,270
Net Assets$2,039,277
Open 2024 Filing

Operations Trend

Revenue Growth18th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2019: $325,202Expenses 2019: $25,433Net Income 2019: $299,7692019Revenue 2020: $736,960Expenses 2020: $480,818Net Income 2020: $256,1422020Revenue 2021: $802,784Expenses 2021: $963,077Net Income 2021: -$160,2932021Revenue 2022: $1,234,598Expenses 2022: $1,171,756Net Income 2022: $62,8422022Revenue 2023: $2,446,603Expenses 2023: $1,372,296Net Income 2023: $1,074,3072023Revenue 2024: $2,099,434Expenses 2024: $1,737,886Net Income 2024: $361,5482024

Highlighted filing

2024

Revenue$2,099,434
Expenses$1,737,886
Net Income$361,548
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$3,198,547
Liabilities
$1,159,270
Net assets
$2,039,277
Revenue
$2,099,434
Expenses
$1,737,886
Net income
$361,548
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.20$1.16$2.04$2.10$1.74$0.36
2023Detailed filing. Detailed filing data is available for this year.$2.30$0.88$1.42$2.45$1.37$1.07
2022Detailed filing. Detailed filing data is available for this year.$0.64$0.29$0.34$1.23$1.17$0.06
2021Detailed filing. Detailed filing data is available for this year.$0.48$0.26$0.22$0.80$0.96$0.16
2020Detailed filing. Detailed filing data is available for this year.$0.66$0.10$0.56$0.74$0.48$0.26
2019Detailed filing. Detailed filing data is available for this year.$0.30$0.00$0.30$0.33$0.03$0.30
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 17, 2025
Return Version
2024v5.2
Gross Receipts
$2,099,434
Mission and Program Overview

Mission

Opportunity alabama (opal) is the economic development engine for alabama's low-incom places. It is organized to eradicate generational poverty in alabama's distressed communities by (1) educating communities about how to promote growth in low-income areas, (2) attracting private capital to low-income areas, and (3) tracking data about whether private investments in low-income areas are alleviating poverty. Its primary focus is on the state's 158 opportunity zones, low-income census tracts designated by govenor kay ivey as part of the opportunity zones initiative created by the tax cuts and jobs act of 2017.

Founded in 2018, opportunity alabama (opal) is an economic development organization committed to creating a national model of sustainable economic development through community-led, place-based investments. We help underserved communities leverage diverse funding sources for projects and initiatives that improve quality of place and enhance the built environment. Most of that work involves closing access to capital gaps in low-income communities, in economically distressed communities, and/or within disadvantaged populations (including, but not limited to, minority- and women-owned businesses, residents of low-income areas, etc.). Through that work, we remediate blight, improve general economic and societal conditions, combat community deterioration, and/or preserve the traditions, architecture, and appearance of the communities we serve.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$0$1,495,878▲ $1,495,878
Other Notes and Loans Receivable, Net$441,000$838,866▲ $397,866
Investments Program Related$127,605$417,795▲ $290,190
Cash and Non-Interest-Bearing Accounts$1,339,612$300,219▼ $1,039,393
Pledges and Grants Receivable$318,691$113,853▼ $204,838
Total Assets$2,297,424$3,198,547▲ $901,123
Other Assets Total$70,516$31,936▼ $38,580
Liabilities
Mortgage Notes Payable Secured by Investment Property$800,000$1,142,769▲ $342,769
Accounts Payable and Accrued Expenses$78,322$16,501▼ $61,821
Total Liabilities$878,322$1,159,270▲ $280,948
Net Assets / Fund Balance
Net Assets With Donor Restrictions-$1,465,816-
Net Assets Without Donor Restrictions$1,419,102$573,461▼ $845,641
Total Net Assets Fund Balance$1,419,102$2,039,277▲ $620,175
Total Liabilities and Net Assets / Fund Balance$2,297,424$3,198,547▲ $901,123

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$417,795--
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Greg BarkerChair
Alexander FlachsbartPresident
Larry LewisDirector
Tony SmokeDirector
Wendi BoyenDirector
Anoop MishraDirector (through 05/01/2024)
Myla CalhounDirector (through 11/01/2024)
Dan RuthSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Chesapeake CapitalUnderwriting2600 LONGSTONE LANE SUITE 201, Marriottsville, MD 21104$156,000
Revenue and Support

Revenue Composition

Contributions and Grants
$2,024,253
Program Service Revenue
$4,661
Investment Income
$70,520
Other Revenue
$0
All Other Contributions
$1,234,863
Change in Net Assets
$361,548
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,071,293
Other Expenses$542,078
Grants and Similar Amounts Paid$124,515
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$917,553--$917,553
Fees for Services Other$264,579$8,000-$272,579
Grants to Domestic Orgs$124,515--$124,515
Information Technology$120,404$1,404-$121,808
Current Officers, Directors, Trustees, and Key Employees$100,587--$100,587
Office Expenses-$51,654-$51,654
Fees for Services Accounting-$45,641-$45,641
Payroll Taxes$31,641--$31,641
Other Employee Benefits$21,512--$21,512
Interest-$11,778-$11,778
Travel$9,095--$9,095
Fees for Services Legal-$4,518-$4,518
Insurance-$2,405-$2,405
Other Expenses-$1,039-$1,039
Total Functional Expenses$1,589,886$148,000$0$1,737,886
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Main Street AlabamaBirmingham, AL501(c)(3)To Assist in the Efforts to Educate Citizens About Ways to Reviatlize and Preserve Their Small Town Downtowns and Urban Neighborhood Commercial Centers$124,515
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
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Upon completion of the organization's form 990, the return is presented to the board. The board members review the tax return and are free to ask any questions or engage in discussion regarding any topic covered on the return. Once the governing body has reviewed and approved the form 990, the return is filed with the internal revenue service.”

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

“The organization monitors the conflict of interest policy by annual review with the board. The board then signs conflict of interest statements annually.”

Form 990, Part VI, Section B, Line 15

“Ceo meets with president of the board of wholly-owned subsidiary (opal investments) to conduct an annual performance evaluation and salary review; ceo meets with each key team member to perform the same annnual performance review and salary evaluation based on available data from similarly situated organizations.”

Form 990, Part VI, Section C, Line 19

“The organization makes available its financial statements and other governing documents upon request.”

Filing and Contact Details

Filer

Filer Name
Opportunity Alabama Inc
EIN
83-2134053
Phone
3344254166
Address
1914 THIRD AVE N C-1, BIRMINGHAM, AL 35203

Signing Officer

Name
Alexander Flachsbart
Title
President
Phone
3344254166
Signed
2025-11-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alexander Flachsbart
Formed
2018
Legal Domicile
Al
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
7

Preparer

Firm
Warren Averett LLC
Address
2500 ACTON ROAD, BIRMINGHAM, AL 35243
Preparer
Chris Branch CPA
Phone
2059794100
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Consulting: program service expenses 264,579. Management and general expenses 8,000. Fundraising expenses 0. Total expenses 272,579.”

FORM 990, PART XII, LINE 2C:

“The organization made no changes to its oversight proce3ss or selection process during the year.”

Financial Statement Notes

PART X, LINE 2:

“Opal is an exempt organization under section 501(c)(3) of the internal revenue code, and under appropriate provisions of the state of alabama. Opal is subject to unrelated business income tax (ubit) only if it engages in activities subject to the ubit regulations. Opal did not have any unrelated business income during the year ended december 31, 2024, and accordingly, no provision for income taxes has been made in the consolidated financial statements. Tax positions are initially recognized in the consolidated financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. The organization had no uncertain tax positions that qualify for either recognition or disclosure in the consolidated financial statements as of december 31, 2024, based on an assessment of many factors including experience and interpretations of tax laws applied to the facts of each matter for all open tax years. The organization is not currently under examination by any taxing jurisdiction. For the year ended december 31, 2024, there are no interest or penalties associated with tax positions recorded in the accompanying consolidated financial statements.”

Raw XML AppendixShowing 400 of 591 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0FOUNDED IN 2018, OPPORTUNITY ALABAMA (OPAL) IS AN ECONOMIC DEVELOPMENT ORGANIZATION COMMITTED TO CREATING A NATIONAL MODEL OF SUSTAINABLE ECONOMIC DEVELOPMENT THROUGH COMMUNITY-LED, PLACE-BASED INVESTMENTS. WE HELP UNDERSERVED COMMUNITIES LEVERAGE DIVERSE FUNDING SOURCES FOR PROJECTS AND INITIATIVES THAT IMPROVE QUALITY OF PLACE AND ENHANCE THE BUILT ENVIRONMENT. MOST OF THAT WORK INVOLVES CLOSING ACCESS TO CAPITAL GAPS IN LOW-INCOME COMMUNITIES, IN ECONOMICALLY DISTRESSED COMMUNITIES, AND/OR WITHIN DISADVANTAGED POPULATIONS (INCLUDING, BUT NOT LIMITED TO, MINORITY- AND WOMEN-OWNED BUSINESSES, RESIDENTS OF LOW-INCOME AREAS, ETC.). THROUGH THAT WORK, WE REMEDIATE BLIGHT, IMPROVE GENERAL ECONOMIC AND SOCIETAL CONDITIONS, COMBAT COMMUNITY DETERIORATION, AND/OR PRESERVE THE TRADITIONS, ARCHITECTURE, AND APPEARANCE OF THE COMMUNITIES WE SERVE.
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IRS990/Desc0OPAL HAS BUILT AN INFRASTRUCTURE TO RAISE AND INVEST PRIVATE FUNDS INTO THE PIPELINE OF INVESTMENT OPPORTUNITIES WE IDENTIFY. A SUBSTANTIAL AMOUNT OF THIS WORK IS UNDERTAKEN BY OUR WHOLLY-OWNED SUBSIDIARY, OPAL INVESTMENTS (AN ALABAMA BENEFIT CORPORATION). THE REST IS UNDERTAKEN BY OPAL COMMUNITY CAPITAL, A FLEXIBLE SOURCE OF CAPITAL CRITICAL TO ENSURING THAT THE DEALS THAT COME THROUGH PDAP ULTIMATELY HAVE A COMPLETE CAPITAL STACK. OCC'S PRIMARY MISSION IS TO PROVIDE LOAN AND OTHER INVESTMENT PRODUCTS FOR REAL ESTATE AND BUSINESSES IN ORDER TO PROMOTE ECONOMIC DEVELOPMENT AND CLOSE ACCESS TO CAPITAL GAPS IN LOW-INCOME COMMUNITIES, IN ECONOMICALLY DISTRESSED COMMUNITIES, AND/OR WITHIN DISADVANTAGED POPULATIONS (INCLUDING, BUT NOT LIMITED TO, MINORITY- AND WOMEN-OWNED BUSINESSES, RESIDENTS OF LOW-INCOME AREAS, ETC.). WE HAVE APPLIED TO HAVE OCC RECOGNIZED AS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION BY THE US DEPT OF TREASURY. DURING 2024, WE DEPLOYED OVER $800K IN NEW INVESTMENT TO FOUR PROJECTS ACROSS ALABAMA, ALL LOCATED IN LOW-INCOME COMMUNITIES; BORROWERS INCLUDED A COMMUNITY-BASED NONPROFIT, A WOMAN-OWNED BUSINESS, AND A MINORITY-OWNED DEVELOPMENT TEAM, WORKING ON PROJECTS THAT WOULD CREATE NEW COMMERCIAL SPACE, NEW JOBS, NEW HOUSING UNITS, AND MORE.
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IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt01404
IRS990/InformationTechnologyGrp/ProgramServicesAmt0120404
IRS990/InformationTechnologyGrp/TotalAmt0121808
IRS990/InsuranceGrp/ManagementAndGeneralAmt02405
IRS990/InsuranceGrp/TotalAmt02405
IRS990/InterestGrp/ManagementAndGeneralAmt011778
IRS990/InterestGrp/TotalAmt011778
IRS990/InvestmentIncomeGrp/ExclusionAmt070520
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt070520
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsProgramRelatedGrp/BOYAmt0127605
IRS990/InvestmentsProgramRelatedGrp/EOYAmt0417795
IRS990/IRPDocumentCnt010
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0AL
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0FOUNDED IN 2018, OPPORTUNITY ALABAMA (OPAL) IS AN ECONOMIC DEVELOPMENT ORGANIZATION COMMITTED TO CREATING A NATIONAL MODEL OF SUSTAINABLE ECONOMIC DEVELOPMENT THROUGH COMMUNITY-LED, PLACE-BASED INVESTMENTS. WE HELP UNDERSERVED COMMUNITIES LEVERAGE DIVERSE FUNDING SOURCES FOR PROJECTS AND INITIATIVES THAT IMPROVE QUALITY OF PLACE AND ENHANCE THE BUILT ENVIRONMENT. MOST OF THAT WORK INVOLVES CLOSING ACCESS TO CAPITAL GAPS IN LOW-INCOME COMMUNITIES, IN ECONOMICALLY DISTRESSED COMMUNITIES, AND/OR WITHIN DISADVANTAGED POPULATIONS (INCLUDING, BUT NOT LIMITED TO, MINORITY- AND WOMEN-OWNED BUSINESSES, RESIDENTS OF LOW-INCOME AREAS, ETC.). THROUGH THAT WORK, WE REMEDIATE BLIGHT, IMPROVE GENERAL ECONOMIC AND SOCIETAL CONDITIONS, COMBAT COMMUNITY DETERIORATION, AND/OR PRESERVE THE TRADITIONS, ARCHITECTURE, AND APPEARANCE OF THE COMMUNITIES WE SERVE.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt0800000
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt01142769
IRS990/NetAssetsOrFundBalancesBOYAmt01419102
IRS990/NetAssetsOrFundBalancesEOYAmt02039277
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt01419102
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0573461
IRS990/NoncashContributionsAmt04339
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt051654
IRS990/OfficeExpensesGrp/TotalAmt051654
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt070516
IRS990/OtherAssetsTotalGrp/EOYAmt031936
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt021512
IRS990/OtherEmployeeBenefitsGrp/TotalAmt021512
IRS990/OtherExpensesGrp/Desc0LOAN FEES
IRS990/OtherExpensesGrp/Desc1BAD DEBT
IRS990/OtherExpensesGrp/Desc2TAXES & LICENSES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt010792
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt110769
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt21039
IRS990/OtherExpensesGrp/TotalAmt010792
IRS990/OtherExpensesGrp/TotalAmt110769
IRS990/OtherExpensesGrp/TotalAmt21039
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0917553
IRS990/OtherSalariesAndWagesGrp/TotalAmt0917553
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0441000
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0838866
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt031641
IRS990/PayrollTaxesGrp/TotalAmt031641
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0318691
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0113853
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0ALEXANDER FLACHSBART
IRS990/PriorPeriodAdjustmentsAmt0258627
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0523000
IRS990/ProgramServiceRevenueGrp/Desc0LOAN FEE INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt04661
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt04661
IRS990/ProgSrvcAccomActy2Grp/Desc0OUR SECOND LARGEST PROGRAMMATIC ACTIVITY DURING 2024 WAS OUR PROPERTY DEVELOPMENT ASSISTANCE PROGRAM (PDAP) WHICH HELPS PROPERTY OWNERS AND EMERGING DEVELOPERS IN UNDERSERVED MARKETS TAKE A COMMUNITY-SUPPORTED PROJECT FROM CONCEPT TO CONSTRUCTION. WE HELP PROJECT TEAMS NAVIGATE PRE-DEVELOPMENT PLANNING, BUDGETING, MARKET ANALYSIS, PRO FORMA CREATION. WE THEN HELP PROJECTS SECURE ALL THE INCENTIVES POSSIBLE TO ENHANCE THEIR ABILITY TO RECEIVE INVESTMENT AND BREAK GROUND. THROUGH PDAP, WE ARE BUILDING A PIPELINE OF PROJECTS THAT ARE BRINGING VACANT BUILDINGS BACK INTO SERVICE AND SUPPORTING MEANINGFUL NEW CONSTRUCTION WHILE SUPPORTING LOCAL BUSINESSES, CREATING AND IMPROVING HOUSING, SUPPORTING REUSE AND/OR REDIRECTION OF DOWNTOWN AREAS AND CENTRAL BUSINESS DISTRICTS, AND MORE. DURING 2024, WE ASSISTED 16 DIFFERENT PROJECTS IN LOW-INCOME OR UNDERSERVED COMMUNITIES ACROSS ALABAMA WITH OUR FULL SUITE OF PDAP PROGRAMMING. THESE PROJECTS WILL PROVIDE EVERYTHING FROM COMMUNITY ART SPACE AND NEW RETAIL TO BOUTIQUE HOTELS AND CRITICALLY-NEEDED HOUSING.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0635954
IRS990/ProgSrvcAccomActy2Grp/GrantAmt049806
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt04661
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt02402165
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0269719
IRS990/PYInvestmentIncomeAmt044438
IRS990/PYOtherExpensesAmt0438821
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt01074307
IRS990/PYSalariesCompEmpBnftPaidAmt0663756
IRS990/PYTotalExpensesAmt01372296
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt02446603
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0361548
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd01
IRS990/RevenueAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01495878
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt02024253
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt02402165
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01234598
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0802781
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0736921
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt07200718
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt070520
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt044438
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt03
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt039
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0115000
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt04661
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.98430
IRS990ScheduleA/PublicSupportPY170Pct00.99190
IRS990ScheduleA/PublicSupportTotal170Amt07200718
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt02024253
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt02402165
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt01234598
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0802781
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0736921
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt07200718
IRS990ScheduleA/TotalSupportAmt07315718
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt0417795
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0INVESTMENT IN OPAL INVESTMENTS, INC.
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0OPAL IS AN EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND UNDER APPROPRIATE PROVISIONS OF THE STATE OF ALABAMA. OPAL IS SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT) ONLY IF IT ENGAGES IN ACTIVITIES SUBJECT TO THE UBIT REGULATIONS. OPAL DID NOT HAVE ANY UNRELATED BUSINESS INCOME DURING THE YEAR ENDED DECEMBER 31, 2024, AND ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE CONSOLIDATED FINANCIAL STATEMENTS. TAX POSITIONS ARE INITIALLY RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS WHEN IT IS MORE LIKELY THAN NOT THE POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE TAX AUTHORITIES. THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2024, BASED ON AN ASSESSMENT OF MANY FACTORS INCLUDING EXPERIENCE AND INTERPRETATIONS OF TAX LAWS APPLIED TO THE FACTS OF EACH MATTER FOR ALL OPEN TAX YEARS. THE ORGANIZATION IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTION. FOR THE YEAR ENDED DECEMBER 31, 2024, THERE ARE NO INTEREST OR PENALTIES ASSOCIATED WITH TAX POSITIONS RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueProgramRltdAmt0417795
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt0124515
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0N/A
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO ASSIST IN THE EFFORTS TO EDUCATE CITIZENS ABOUT WAYS TO REVIATLIZE AND PRESERVE THEIR SMALL TOWN DOWNTOWNS AND URBAN NEIGHBORHOOD COMMERCIAL CENTERS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0MAIN STREET ALABAMA
IRS990ScheduleI/RecipientTable/RecipientEIN0271847357
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0880 MONTCLAIR ROAD NO 245
IRS990ScheduleI/RecipientTable/USAddress/CityNm0BIRMINGHAM
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0AL
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd035213
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0N/A
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0OPPORTUNITY ALABAMA ASSESSES ASSISTANCE TO OTHER ORGANIZATIONS TO ENSURE THE FUNDS WILL BE USED IN ALIGN WITH OPPORTUNITY ALABAMA'S MISSION.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt01
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0183333
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt07333
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0ALEXANDER FLACHSBART
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0190666
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0OPAL INVESTMENTS, INC., A RELATED ORGANIZATION, USES A WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY, AND APPROVAL BY THE BOARD OR EXECUTIVE COMMITTEE TO ESTABLISH COMPENSATION OF THE PRESIDENT.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0UPON COMPLETION OF THE ORGANIZATION'S FORM 990, THE RETURN IS PRESENTED TO THE BOARD. THE BOARD MEMBERS REVIEW THE TAX RETURN AND ARE FREE TO ASK ANY QUESTIONS OR ENGAGE IN DISCUSSION REGARDING ANY TOPIC COVERED ON THE RETURN. ONCE THE GOVERNING BODY HAS REVIEWED AND APPROVED THE FORM 990, THE RETURN IS FILED WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION MONITORS THE CONFLICT OF INTEREST POLICY BY ANNUAL REVIEW WITH THE BOARD. THE BOARD THEN SIGNS CONFLICT OF INTEREST STATEMENTS ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CEO MEETS WITH PRESIDENT OF THE BOARD OF WHOLLY-OWNED SUBSIDIARY (OPAL INVESTMENTS) TO CONDUCT AN ANNUAL PERFORMANCE EVALUATION AND SALARY REVIEW; CEO MEETS WITH EACH KEY TEAM MEMBER TO PERFORM THE SAME ANNNUAL PERFORMANCE REVIEW AND SALARY EVALUATION BASED ON AVAILABLE DATA FROM SIMILARLY SITUATED ORGANIZATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES AVAILABLE ITS FINANCIAL STATEMENTS AND OTHER GOVERNING DOCUMENTS UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONSULTING: PROGRAM SERVICE EXPENSES 264,579. MANAGEMENT AND GENERAL EXPENSES 8,000. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 272,579.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION MADE NO CHANGES TO ITS OVERSIGHT PROCE3SS OR SELECTION PROCESS DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0OPPORTUNITY ALABAMA INC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt1OPPORTUNITY ALABAMA INC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0OPAL COMMUNITY CAPITAL LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt1OPAL COMMUNITY DEVELOPMENT LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0882621997
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN1331388394
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt01301374
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt10
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0AL
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd1AL
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0INVESTMENTS
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt1IDENTIFYING AND CAPITALIZING NMTC TRANSACTIONS
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt070279
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt10
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt01320 1ST AVENUE SOUTH
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt11914 THIRD AVE N UNIT C-1
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0BIRMINGHAM

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