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Opportunity Machine INC FY2024 filing

Not tax-deductible

Lafayette, LA501(c)(6)Since 2016Community DevelopmentEIN 81-4268122Revenue $500K in FY2024

On file with the IRSopportunitymachine.org211 E Devalcourt St, 70506-3155 · Lafayette, LATax-exempt since Mar 2017

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Opportunity Machine, inc's specific purpose is to identify, develop and retain entrepreneurial talent by providing training, mentorship and infrastructural support to its members.

45¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $89K a year · 20% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
45%
of spending
Concern: 45% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
17 mo
of spending, in cash
Looks good: 17.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $15K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$7K
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$500K
+34% vs prior year
Spent
$364K
To programs
45%
Net assets
$594K
By yearFY2020–FY2025
Revenue
$500K
FY2024▲ +34%
Tap a bar for its year
Revenue by fiscal year
FY2020$439K
FY2021$447K
FY2022$372K
FY2023$373K
FY2024$500K
FY2025$590K
Expenses
$364K
FY2024▲ +38%
Tap a bar for its year
Expenses by fiscal year
FY2020$361K
FY2021$423K
FY2022$295K
FY2023$264K
FY2024$364K
FY2025$480K
Net assets
$594K
FY2024▲ +30%
Tap a bar for its year
Net assets by fiscal year
FY2020$248K
FY2021$272K
FY2022$349K
FY2023$458K
FY2024$594K
FY2025$704K

From the FY2024 Form 990 · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2017.

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

Where the money goes

45 cents of each dollar spent went to programs.

Program services 45% · $164K Management & general 55% · $201K

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

8 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Tom Cox
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Ej Krampe
Board Member
$0Pt VII · Sec A
Heidi Melancon
Secretary/Tr
$0Pt VII · Sec A
$0Pt VII · Sec A
Mandi Mitchell
Vice Preside
$0Pt VII · Sec A
See Opportunity Machine INC 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

Develops entrepreneurial talent through training, mentorship, and support.

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Provided by the organization

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1 program · in their own filed words · FY2024
01

Opportunity Machine, Inc's Mission Shall Be Achieved by

A. Providing high quality entrepreneurial training at the cost of membership, which is substantially discounted; b. Connecting members with a community of dedicated mentors to provide guidance and support; c. Providing an opportunity for members to connect with people that are able to provide the complimentary skills; and d.

Pt IX · col B

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2021
Lafayette General Health System INCFY2021$15K
Total grants receivedfrom 1 funder$15K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$500K
Ln 12
Gifts and grantsLn 1h$432K
Other incomeLn 4–11$44K
Investment incomeLn 3$24K
Money outPt IX
$364K
Ln 25
Programscol B$164K
Managementcol C$201K
Owns and owesPt X
$594K
net assets · Ln 32
Cash and savingsLn 1–2$521K
Total assetsLn 16$601K
LiabilitiesLn 26$7K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$432K
Government grantsLn 1e$237K
Investment incomeLn 3$24K
Other incomeLn 4–11$44K
Total revenueLn 12$500K
Assets in detailPt X, end of year
SavingsLn 2$521K
Cash and savings togetherLn 1–2$521K
Land, buildings, equipmentLn 10c$13K
Total assetsLn 16$601K
LiabilitiesLn 26$7K
Net assetsLn 32$594K
OperationsPt I, VI
EmployeesI 51
VolunteersI 660
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$409K$521K
Land, buildings, equipmentLn 10c$12K$13K
Total assetsLn 16$463K$601K
LiabilitiesLn 26$5K$7K
Net assetsLn 32$458K$594K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$19K$19K
Advertising and promotionLn 12$11K$11K
Office expensesLn 13$175K$175K
Depreciation, depletion and amortizationLn 22$7K$7K
Other expenses (24a–d)Ln 24$153K$153K
Total functional expensesLn 25$364K$164K$201K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $590K$480K$110K$704K 990 PDF
FY2024 Viewing $500K$364K$136K$594K 990 PDF
FY2023 $373K$264K$109K$458K 990 PDF
FY2022 $372K$295K$77K$349K 990 PDF
FY2021 $447K$423K$24K$272K 990 PDF
FY2020 $439K$361K$79K$248K 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 FY2024 990 (6 parts)
Part I · Summary $500,452 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $326,199$432,204
I-9 Program service revenue$0
I-10 Investment incomePrior year $16,451$24,052
I-11 Other revenuePrior year $29,912$44,196
I-12 Total revenuePrior year $372,562$500,452
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $263,952$364,393
I-18 Total expensesPrior year $263,952$364,393
I-19 Revenue less expensesPrior year $108,610$136,059
Part VI · Governance 8 of 8 board members independent, 3 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $500,452 across 7 lines filed
VIII-1b Membership dues$118,955
VIII-1e Government grants$237,326
VIII-1f All other contributions, gifts and grants$75,923
VIII-1h Total contributions, gifts and grants$432,204
VIII-3 Investment incomeExcluded from tax $24,052$24,052
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $44,196$44,196
VIII-12 Total revenueExcluded from tax $68,248$500,452
Part IX · Statement of functional expenses $364,393 across 5 lines filed
IX-11b Legal feesManagement $18,900$18,900
IX-12 Advertising and promotionPrograms $10,617$10,617
IX-13 Office expensesManagement $174,906$174,906
IX-22 Depreciation, depletion and amortizationManagement $6,875$6,875
IX-24 Other expenses (24a–d)Programs $153,095$153,095
IX-25 Total functional expensesPrograms $163,712 · Management $200,681 · Fundraising $0$364,393
Part X · Balance sheet $601,309 assets, 10 lines filed
X-2 Savings and temporary cash investmentsStart of year $409,328$520,619
X-4 Accounts receivable$49,984
X-9 Prepaid expenses and deferred chargesStart of year $40,914$17,270
X-10c Land, buildings and equipment, netStart of year $12,490$13,436
X-16 Total assetsStart of year $462,732$601,309
X-17 Accounts payable and accrued expensesStart of year $4,631$7,149
X-26 Total liabilitiesStart of year $4,631$7,149
X-27 Net assets without donor restrictionsStart of year $458,101$594,160
X-32 Total net assets or fund balancesStart of year $458,101$594,160
X-33 Total liabilities and net assetsStart of year $462,732$601,309
Part XI · Reconciliation of net assets $594,160 net assets at year end
XI-1 Total revenue$500,452
XI-2 Total expenses$364,393
XI-3 Revenue less expenses$136,059
XI-4 Net assets at start of year$458,101
XI-10 Net assets at end of year$594,160

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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