Opportunities Incorporated FY2023 filing

Tax-deductible

Winooski, VT501(c)(3)Community DevelopmentEIN 04-3586239

Provide affordable capital and financial services to underserved members of the community.

501(c)(3) charity; gifts are tax-deductible.
52¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average deficit $118K a year · 132% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
52%
of spending
Worth a look: 52% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
334 mo
of spending, in cash
Looks good: 334.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $50K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2
of 4 voting members
Fine: 2 of 4 voting members are independent, half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$53K
-75% vs prior year
Spent
$27K
To programs
52%
Net assets
$756K
By yearFY2022–FY2024
Revenue
$53K
FY2023▼ -75%
Revenue by fiscal year
FY2022$212K
FY2023$53K
FY2024$4K
Expenses
$27K
FY2023▲ +1%
Expenses by fiscal year
FY2022$27K
FY2023$27K
FY2024$569K
Net assets
$756K
FY2023▲ +4%
Net assets by fiscal year
FY2022$730K
FY2023$756K
FY2024$191K

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2003.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

52 cents of each dollar spent went to programs.

Program services 52% · $14K Management & general 48% · $13K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
President & CEO
$0Pt VII · Sec A
Treasurer, CFO & COO
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
See Opportunities Incorporated executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers affordable loans and financial help to people who need it most.

Provided by the organization

This section is blank until Opportunities Incorporated claims this page.

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3 program services account for $14K of program spending, described in the organization's own filed words · FY2023.
01

Members of opportunities credit union, a related tax exempt entity, who have emergency needs not met by current programs can obtain a loan that is guaranteed by this fund allowing them to address emergency auto, medical and other family issues including barriers to housing, funeral expenses and other critical needs.

$14Kprogram expense
02

Opportunity inc. Provides rewards and initial share deposits for unbanked and underserved children to allow them to have bank accounts.

$405program expense
03

Opportunities inc. Holds grants and donated funds. Examples include loan funds for small business, funds to pay citizenship expenses, emergency loan funds, and loan funds for low or no credit score businesses and others.

Pt IX · col B

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2022
Total grants receivedfrom 2 funders$50K
Grants paid · 6 grants · $603K · 2022–2024
Opportunities Credit UnionVT · FY2024$564,801
Unitemized GrantFY2024$120
Opportunities Credit UnionVT · FY2023$13,609
Unitemized GrantFY2023$405
Opportunities Credit UnionVT · FY2022$23,650
Unitemized GrantFY2022$770

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$53K
Ln 12
Gifts and grantsLn 1h$48K
Investment incomeLn 3$5K
Money outPt IX
$27K
Ln 25
Programscol B$14K
Managementcol C$13K
Owns and owesPt X
$756K
net assets · Ln 32
Cash and savingsLn 1–2$756K
Total assetsLn 16$756K
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$48K
Investment incomeLn 3$5K
Total revenueLn 12$53K
Assets in detailPt X, end of year
CashLn 1$756K
Cash and savings togetherLn 1–2$756K
Total assetsLn 16$756K
LiabilitiesLn 26$0
Net assetsLn 32$756K
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$730K$756K
Total assetsLn 16$730K$756K
LiabilitiesLn 26$0$0
Net assetsLn 32$730K$756K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$14K$14K
Grants to domestic individualsLn 2$405$405
Accounting feesLn 11c$6K$6K
InsuranceLn 23$946$946
Other expenses (24a–d)Ln 24$6K$6K
Total functional expensesLn 25$27K$14K$13K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $4K$569K−$565K$191K 990 PDF
FY2023 Viewing $53K$27K$26K$756K 990 PDF
FY2022 $212K$27K$185K$730K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (4 parts)
Part VIII · Statement of revenue $52,907 across 4 lines filed
VIII-1f All other contributions, gifts and grants$48,000
VIII-1h Total contributions, gifts and grants$48,000
VIII-3 Investment incomeExcluded from tax $4,907$4,907
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $4,907$52,907
Part IX · Statement of functional expenses $27,119 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $13,709$13,709
IX-2 Grants to domestic individualsPrograms $405$405
IX-11c Accounting feesManagement $6,000$6,000
IX-23 InsuranceManagement $946$946
IX-24 Other expenses (24a–d)Management $6,059$6,059
IX-25 Total functional expensesPrograms $14,114 · Management $13,005 · Fundraising $0$27,119
Part X · Balance sheet $755,545 assets, 5 lines filed
X-1 Cash, non-interest-bearingStart of year $729,757$755,545
X-16 Total assetsStart of year $729,757$755,545
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $729,757$755,545
X-33 Total liabilities and net assetsStart of year $729,757$755,545
Part XI · Reconciliation of net assets $755,545 net assets at year end
XI-1 Total revenue$52,907
XI-2 Total expenses$27,119
XI-3 Revenue less expenses$25,788
XI-4 Net assets at start of year$729,757
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$755,545

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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