Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 2001.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
79 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
12 people listed on the 990; $378K paid to officers and key staff.
Kevin Fitzgerald’s $201K as VP of Finance/CFO is at the 90th percentile of top reported officer pay among 3868 $1–10M human services 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 · 7 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Christine Narayanan | $161,926 | $241,041 | — | — | — | — |
| Christine Coady Narayanan | — | — | $202,770 | $182,768 | $163,193 | $157,903 |
| Kevin Fitzgerald | $200,776 | $188,339 | $175,353 | $161,945 | $137,167 | $135,775 |
| Byna Elliott | $162,894 | — | — | — | — | — |
| Marcus Rankin | $152,314 | — | — | — | — | — |
| Timothy Strasz | — | — | — | — | — | $114,880 |
| Charles Turner | $106,380 | $102,062 | — | — | — | — |
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.
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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 15aYes
- Loans to or from officersSch L · Pt II5 listed
Programs and updates
Helps Michigan residents and businesses achieve affordable ownership to strengthen communities.
Questions for Opportunity Resource Fund
Your first name shows with your question. Opportunity Resource Fund answers here, for everyone.
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OppFund's history of successful lending spans more than 39 years. Commitment and diligence have earned OppFund a reputation as a solid, dependable, and flexible lender and development services provider throughout the state of Michigan.
OppFund relies upon its Board-approved Strategic Plan in its continuing quest to act as a catalyst for change to benefit and strengthen Michigan communities. The Strategic Plan includes lending goals to increase financing for the creation, renovation, and/or preservation of affordable housing, assist individual homeowners, and help to…
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $8.2M | $8.2M |
| Land, buildings, equipmentLn 10c | $6K | $4K |
| Total assetsLn 16 | $26.9M | $28.0M |
| LiabilitiesLn 26 | $18.7M | $18.7M |
| Net assetsLn 32 | $8.2M | $9.2M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $51K | $51K | ||
| Pay of current officers, directors and key staffLn 5 | $380K | $269K | $105K | $5K |
| Other salaries and wagesLn 7 | $859K | $608K | $238K | $12K |
| Pension plan contributionsLn 8 | $11K | $8K | $3K | $162 |
| Other employee benefitsLn 9 | $205K | $145K | $57K | $3K |
| Payroll taxesLn 10 | $108K | $77K | $30K | $2K |
| Legal feesLn 11b | $10K | $6K | $4K | $3 |
| Accounting feesLn 11c | $61K | $38K | $24K | $19 |
| Other fees for servicesLn 11g | $120K | $74K | $47K | $38 |
| Advertising and promotionLn 12 | $12K | $8K | $4K | $270 |
| Office expensesLn 13 | $150K | $125K | $24K | $1K |
| OccupancyLn 16 | $101K | $76K | $24K | $2K |
| TravelLn 17 | $6K | $3K | $3K | |
| Conferences, conventions and meetingsLn 19 | $60K | $28K | $32K | |
| InterestLn 20 | $330K | $330K | ||
| Depreciation, depletion and amortizationLn 22 | $2K | $2K | ||
| InsuranceLn 23 | $15K | $13K | $2K | $120 |
| Other expenses (24a–d)Ln 24 | $475K | $473K | $2K | $0 |
| Total functional expensesLn 25 | $3.0M | $2.3M | $601K | $25K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $3.8M | $3.5M | $283K | $9.7M | 990 PDF |
| FY2024 | $3.3M | $3.1M | $143K | $9.4M | 990 PDF |
| FY2023 Viewing | $4.0M | $3.0M | $1.0M | $9.2M | 990 PDF |
| FY2022 | $5.0M | $2.5M | $2.5M | $8.2M | 990 PDF |
| FY2021 | $4.2M | $2.2M | $2.1M | $5.8M | 990 PDF |
| FY2020 | $1.4M | $2.1M | −$709K | $3.6M | 990 PDF |
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Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $3,996,660 revenue, 12 lines filed
Part VI · Governance 10 of 10 board members independent, no flags
Part VIII · Statement of revenue $3,996,660 across 6 lines filed
Part IX · Statement of functional expenses $2,957,387 across 18 lines filed
Part X · Balance sheet $27,951,331 assets, 16 lines filed
Part XI · Reconciliation of net assets $9,234,117 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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