Civic Intelligence

Better Opportunity Fund

990 • Fiscal year 2023 • EIN 86-3348840

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 15, 2024

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

50th percentile

0.01x

Higher debt load relative to assets than 50% of similar nonprofits.

2023 filings • NTEE W • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

77th percentile

0.24x

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

2023 filings • NTEE W • $500k-$1M nonprofits • Source year 2023

Net Margin

1st percentile

-430%

Higher net margin than 1% of similar nonprofits.

2023 filings • NTEE W • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

66th percentile

$0

Higher top officer pay than 66% of similar nonprofits.

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

2023 filings • NTEE W • $500k-$1M nonprofits • Source year 2023

Asset Growth

14th percentile

-15%

Faster asset growth than 14% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

94th percentile

158%

Faster revenue growth than 94% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets50th percentile

Assets

Down

$861,441

Down $150,043 (-15%) from 2022

Net Assets

Down

$855,285

Down $106,043 (-11%) from 2022

Liabilities

Down

$6,156

Down $44,000 (-88%) from 2022

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin1st percentile

Revenue

Up

$25,957

Up $15,912 (+158%) from 2022

Expenses

Up

$137,668

Up $84,099 (+157%) from 2022

Net Income

Down

-$111,711

Down $68,187 (-157%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth14th 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

2023

Assets$861,441
Liabilities$6,156
Net Assets$855,285
Open 2023 Filing

Operations Trend

Revenue Growth94th 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

2023

Revenue$25,957
Expenses$137,668
Net Income-$111,711
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 15, 2024
Return Version
2023v5.1
Gross Receipts
$25,957
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.

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 (CONTINUED ON SCHEDULE O)

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$725,476$576,578▼ $148,898
Accounts Receivable$1,008$4,068▲ $3,060
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$-106,043▼ $66,973
Total Assets$1,011,484$861,441▼ $150,043
Other Assets Total$285,000$280,795▼ $4,205
Liabilities
Other Liabilities$50,156$6,156▼ $44,000
Total Liabilities$50,156$6,156▼ $44,000
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,000,398$961,328▼ $39,070
Total Net Assets Fund Balance$961,328$855,285▼ $106,043
Total Liabilities and Net Assets / Fund Balance$1,011,484$861,441▼ $150,043

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$280,795--
Compensation and Service Providers
Top Officer Pay66th percentile

Board Members and Trustees

NameTitle
-President
-Board Member
-Secretary
-Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Better Home And Finance Holding CompanyProfessional Services3 WORLD TRADE CENTER, FL 57, New York, NY 10007$137,688
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$11,802
Other Revenue
$14,155
Change in Net Assets
$-111,711
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$137,668
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management-$137,668-$137,668
Total Functional Expenses$0$137,668$0$137,668
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 Home and Finance Holding Company$5,148
Impounds 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”

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 better home and finance holding company as the sole corporation member of better opportunity fund.”

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
2024-11-15
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
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1- Brief Mission

“Services, as well as resident of economically distressesd communities.”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0CHANGES TO THE BYLAWS OR GOVERNING DOCUMENTS ARE SUBJECT TO APPROVAL BY BETTERHOLDCO, INC. AS THE SOLE CORPORATION MEMBER OF BETTER OPPORTUNITY FUND.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS REVIEWED BY MANAGEMENT PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SERVICES, AS WELL AS RESIDENT OF ECONOMICALLY DISTRESSESD COMMUNITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CHANGES TO THE BYLAWS OR GOVERNING DOCUMENTS ARE SUBJECT TO APPROVAL BY BETTER HOME AND FINANCE HOLDING COMPANY AS THE SOLE CORPORATION MEMBER OF BETTER OPPORTUNITY FUND.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b Review of form 990 by governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19 Required documents available to the public
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART I, LINE 1- BRIEF MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, LINE 7A-MEMBERS OR STOCKHOLDERS ELECTING MEMBERS OF GOVERNING BODY
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
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ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$861,441
Liabilities
$6,156
Net assets
$855,285
Revenue
$25,957
Expenses
$137,668
Net income
-$111,711
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