Leads a national network of community development financial institutions to provide affordable, responsible financing and advocacy for low-income and disinvested communities across America.
Leads a national network of community development financial institutions to provide affordable, responsible financing and advocacy for low-income and disinvested communities across America.
For fiscal year 2025 it reported $139.7M in revenue, $33.1M in expenses, and $2.5B in net assets.Pt I
Where the money goes · FY2025
Total revenue
$139.7M
Pt VIII · Ln 12
Total expenses
$33.1M
Pt IX · Ln 25
Net assets
$2.5B
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $106.7M
Where spending went · Part IX cols B–D
68%
30%
Program services $0.68 Management & general $0.30 Fundraising $0.03
Program efficiency
68%
of spending reaches programs▼ -21% vs prior filing year
Operating runway
894.2mo
months of highly liquid reserves at operating expense rate▲ +29% vs prior filing year
Surplus margin
+76%
revenue over expenses, this year▼ -22% vs prior filing year
Summary of the Filing
Part I · fiscal year 2025 · Form 990
Revenue
$139.7M
FY2025▼ -94%
$2.3B$1.2B$0
FY2020FY2025
Expenses
$33.1M
FY2025▼ -19%
$41.0M$20.5M$0
FY2020FY2025
Total assets
$2.7B
FY2025▲ +4%
$2.7B$1.4B$0
FY2020FY2025
Total liabilities
$209.2M
FY2025▲ +5%
$209.2M$104.6M$0
FY2020FY2025
Total revenue
$139.7M
Pt VIII · Ln 12
Total expenses
$33.1M
Pt IX · Ln 25
Net assets
$2.5B
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$106.7M
Total assetsPt X · Ln 16$2.7B
Program-expense ratioPt IX · col B68%
Voting members of governing bodyPt I · Ln 314
Independent voting membersPt I · Ln 413
Mission & Programs · Part III
Where the work happens
3 program services account for $19.8M of program spending, described in the organization's own filed words · FY2025.
01
Strength
Ofn is the leading convener, capacity builder, and thought leader in community development finance. Ofn strengthens the cdfi industry by providing peer learning opportunities, research, networking platforms, and signature annual events (E.G.
$8.7Mprogram expense
02
Money
Ofn is one of the country's largest investors in cdfis, expanding access to responsible, affordable capital across the country. The money aspect of ofn's work includes the following activities which benefit low-income and low-wealth communities throughout the U.S: ofn'sfinancing fund (on-balance-sheet lending and investing in cdfis)…
$8.6Mprogram expense
03
Voice
Across multiple channels and audiences, ofn's policy advocacy and strategic communications drive the message that cdfi investments transform communities and change lives, amplifying the cdfi message, deepening support for community development finance, and increasing resources for cdfis.
Harold Pettigrew’s $418K as President & CEO
is at the 22nd percentile of top reported officer pay among 59 $100M+ public & societal benefit nonprofits.
Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
Individual Harold Pettigrew · Reported title PRESIDENT & CEO · Highest reported compensation $418K · Total expenses $33.1M
1%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $13.5M · Total expenses $33.1M
41%
Peer comparison
Same NTEE category, revenue band, and state where available. Descriptive — not a grade.
Metric
This org
Peer median
Percentile
Program ratio
68%
—
—
Overhead ratio
30%
—
—
Fundraising cost ratio
3%
—
—
Revenue growth
-94%
—
—
Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.
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Sources
Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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