Civic Intelligence

Better Opportunity Fund

990 • Fiscal year 2022 • EIN 86-3348840

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 15, 2023

Organization Profilebetter.com/b/better-opportunity-fund
175 Greenwich Street Floor 59New York, NY 10007

(503) 778-5215

Siviq Scores

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

Liabilities / Assets

49th percentile

0.05x

Higher debt load relative to assets than 49% of similar nonprofits.

2022 filings • NTEE W • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

98th percentile

4.99x

Higher debt load relative to revenue than 98% of similar nonprofits.

2022 filings • NTEE W • $1M-$5M nonprofits • Source year 2022

Net Margin

4th percentile

-433%

Higher net margin than 4% of similar nonprofits.

2022 filings • NTEE W • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

43rd percentile

$0

Higher top officer pay than 43% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • NTEE W • $1M-$5M nonprofits • Source year 2022

Asset Growth

40th percentile

1.1%

Faster asset growth than 40% of similar nonprofits.

2022 filings • NTEE W • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

1st percentile

-99%

Faster revenue growth than 1% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets49th percentile

Assets

Up

$1,011,484

Up $11,086 (+1.1%) from 2021

Net Assets

Down

$961,328

Down $39,070 (-3.9%) from 2021

Liabilities

Up

$50,156

Up $50,156 from 2021

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin4th percentile

Revenue

Down

$10,045

Down $990,353 (-99%) from 2021

Expenses

Up

$53,569

Up $53,569 from 2021

Net Income

Down

-$43,524

Down $1,043,922 (-104%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth40th percentile

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

$1.5M$1.0M$500K$0Assets 2021: $1,000,398Liabilities 2021: $0Net Assets 2021: $1,000,3982021Assets 2022: $1,011,484Liabilities 2022: $50,156Net Assets 2022: $961,3282022Assets 2023: $861,441Liabilities 2023: $6,156Net Assets 2023: $855,2852023Assets 2024: $282,756Liabilities 2024: $0Net Assets 2024: $282,7562024

Highlighted filing

2022

Assets$1,011,484
Liabilities$50,156
Net Assets$961,328
Open 2022 Filing

Operations Trend

Revenue Growth1st percentile

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

$1.5M$1.0M$500K$0-$500K-$1.0MRevenue 2021: $1,000,398Expenses 2021: $0Net Income 2021: $1,000,3982021Revenue 2022: $10,045Expenses 2022: $53,569Net Income 2022: -$43,5242022Revenue 2023: $25,957Expenses 2023: $137,668Net Income 2023: -$111,7112023Revenue 2024: $13,939Expenses 2024: $586,468Net Income 2024: -$572,5292024

Highlighted filing

2022

Revenue$10,045
Expenses$53,569
Net Income-$43,524
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$10,045
Mission and Program Overview

Mission

Promoting community development through efforts directed to improving the social and economic conditions of low-income persons and persons who lack adequate access to capital or financial services, as well as resident of economically distressed communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,000,398$725,476▼ $274,922
Accounts Receivable-$1,008-
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Land, Buildings, and Equipment, Net$0$0→ $0
Loans From Officers Directors$0$0→ $0
Rtn Earn Endowment Incm Other Fnds-$-39,070-
Total Assets$1,000,398$1,011,484▲ $11,086
Other Assets Total$0$285,000▲ $285,000
Liabilities
Other Liabilities$0$50,156▲ $50,156
Total Liabilities$0$50,156▲ $50,156
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,000,398$1,000,398→ $0
Total Net Assets Fund Balance$1,000,398$961,328▼ $39,070
Total Liabilities and Net Assets / Fund Balance$1,000,398$1,011,484▲ $11,086

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$285,000--
Compensation and Service Providers
Top Officer Pay43rd percentile

Board Members and Trustees

NameTitle
-President
-Board Member
-Board Member (to 2/11/2022)
-Board Member (to 9/1/2022)
-Secretary
-Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$9,214
Other Revenue
$831
Change in Net Assets
$-43,524
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$48,454
Other Expenses$5,115
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$48,454-$48,454
Other Expenses-$5,115-$5,115
Total Functional Expenses$0$53,569$0$53,569
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Better Holdco Payable$49,148
Impunds Payable$1,008
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 7A Members or stockholders electing members of governing body

“Changes to the bylaws or governing documents are subject to approval by betterholdco, inc. As the sole corporation member of better opportunity fund.”

Form 990, Part VI, Line 11B Review of form 990 by governing body

“The form 990 is reviewed by management prior to filing.”

Form 990, Part VI, Line 19 Required documents available to the public

“AVAILABLE UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Better Opportunity Fund
EIN
86-3348840
Phone
5037785215
Address
175 GREENWICH STREET FLOOR 59, New York, NY 10007

Signing Officer

Name
Nneka
Title
Upkai
Phone
5037785215
Signed
2023-11-15
Discuss with paid preparer
Yes

Organization Details

Formed
2021
Legal Domicile
De
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
4

Preparer

Firm
Ernst & Young US Llp
Address
200 CLARENDON STREET, BOSTON, MA 02116-5072
Preparer
George Pagano
Phone
6172662000
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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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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd010007
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01000398
IRS990/TotalAssetsEOYAmt01011484
IRS990/TotalAssetsGrp/BOYAmt01000398
IRS990/TotalAssetsGrp/EOYAmt01011484
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt053569
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IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01000398
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0961328
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IRS990/TotalProgramServiceExpensesAmt00
IRS990/TotalProgramServiceRevenueAmt00
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IRS990/TotalRevenueGrp/ExclusionAmt010045
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0New York
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IRS990/USAddress/ZIPCd010007
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IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0https://better.com/b/better-opportunity-fund
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0NNEKA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0UPKAI
ReturnHeader/BusinessOfficerGrp/PhoneNum05037785215
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Better Opportunity Fund
ReturnHeader/Filer/BusinessNameControlTxt0BETT
ReturnHeader/Filer/EIN0863348840
ReturnHeader/Filer/PhoneNum05037785215
ReturnHeader/Filer/USAddress/AddressLine1Txt0175 GREENWICH STREET FLOOR 59
ReturnHeader/Filer/USAddress/CityNm0New York
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010007
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0346565596
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ERNST & YOUNG US LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0200 CLARENDON STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BOSTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0021165072
ReturnHeader/PreparerPersonGrp/PhoneNum06172662000
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0George Pagano
ReturnHeader/ReturnTs02023-11-15T15:55:18+00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0NNEKA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0UKPAI
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,011,484
Liabilities
$50,156
Net assets
$961,328
Revenue
$10,045
Expenses
$53,569
Net income
-$43,524
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.28$0.00$0.28$0.01$0.59$0.57
2023Detailed filing. Detailed filing data is available for this year.$0.86$0.01$0.86$0.03$0.14$0.11
2022Detailed filing. Detailed filing data is available for this year.$1.01$0.05$0.96$0.01$0.05$0.04
2021Detailed filing. Detailed filing data is available for this year.$1.00$0.00$1.00$1.00$0.00$1.00