Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 2019.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
91 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
8 people listed on the 990.
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
Programs and updates
Boosts economic growth in Alabama's low-income areas by educating, attracting investment, and tracking poverty reduction.
Questions for Opportunity Alabama INC
Your first name shows with your question. Opportunity Alabama INC answers here, for everyone.
Opal has built an infrastructure to raise and invest private funds into the pipeline of investment opportunities we identify. A substantial amount of this work is undertaken by our wholly-owned subsidiary, opal investments (an alabama benefit corporation).
Our second largest programmatic activity during 2024 was our property development assistance program (pdap) which helps property owners and emerging developers in underserved markets take a community-supported project from concept to construction.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
Federal money
The auditor reported 1 finding: a material weakness in money controls.
The auditor reported no findings.
The auditor reported 12 findings: a material weakness in money controls.
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.3M | $1.8M |
| InvestmentsLn 11–13 | $128K | $418K |
| Total assetsLn 16 | $2.3M | $3.2M |
| LiabilitiesLn 26 | $878K | $1.2M |
| Net assetsLn 32 | $1.4M | $2.0M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $125K | $125K | ||
| Pay of current officers, directors and key staffLn 5 | $101K | $101K | ||
| Other salaries and wagesLn 7 | $918K | $918K | ||
| Other employee benefitsLn 9 | $22K | $22K | ||
| Payroll taxesLn 10 | $32K | $32K | ||
| Legal feesLn 11b | $5K | $5K | ||
| Accounting feesLn 11c | $46K | $46K | ||
| Other fees for servicesLn 11g | $273K | $265K | $8K | |
| Office expensesLn 13 | $52K | $52K | ||
| Information technologyLn 14 | $122K | $120K | $1K | |
| TravelLn 17 | $9K | $9K | ||
| InterestLn 20 | $12K | $12K | ||
| InsuranceLn 23 | $2K | $2K | ||
| Other expenses (24a–d)Ln 24 | $23K | $23K | ||
| Total functional expensesLn 25 | $1.7M | $1.6M | $148K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest ViewingFiled with the IRS Nov 17, 2025 | $2.1M | $1.7M | $362K | $2.0M | 990 PDF |
| FY2023Filed with the IRS Nov 15, 2024 | $2.4M | $1.4M | $1.1M | $1.4M | 990 PDF |
| FY2022Filed with the IRS Nov 1, 2023 | $1.2M | $1.2M | $63K | $345K | 990 PDF |
| FY2021Filed with the IRS Nov 9, 2022 | $803K | $963K | −$160K | $222K | 990 PDF |
| FY2020Filed with the IRS Nov 15, 2021 | $737K | $481K | $256K | $556K | 990 PDF |
Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $2,099,434 revenue, 12 lines filed
Part VI · Governance 4 of 4 board members independent, no flags
Part VIII · Statement of revenue $2,099,434 across 7 lines filed
Part IX · Statement of functional expenses $1,737,886 across 14 lines filed
Part X · Balance sheet $3,198,547 assets, 12 lines filed
Part XI · Reconciliation of net assets $2,039,277 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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