Accion Opportunity Fund Inc
- Assets
- $6.2m
- Revenue
- $6.2m
- Investments
- $0.0
- Employees
- 0
- Location
- San Jose, CA
- Founding
- 04/2014
- Data as of
- 06/2021
- EIN
- 45-4127501
Organization Overview
Accion Opportunity Fund Inc is located in San Jose, CA. The organization was established in 2014. According to its NTEE Classification (S03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Accion Opportunity Fund Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Accion Opportunity Fund Inc generated $6.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $3.8m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Accion Opportunity Fund Inc has awarded 42 individual grants totaling $8,545,238. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST IN BUILDING WORLD CLASS MICROFINANCE INSTITUTIONS (SEE SCHEDULE O FOR CONTINUATION)IN THE UNITED STATES TO ENHANCE ECONOMIC DEVELOPMENT AND INDIVIDUALS' SELF SUFFICIENCY THROUGH INCREASING ACCESS TO CREDIT AND OTHERWISE PROMOTING FINANCIAL INCLUSION AND FINANCIAL HEALTH THROUGH TRAINING AND MENTORING FOR MEMBERS OF LOW-TO-MODERATE INCOME COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACCION ENVISIONS A WORLD IN WHICH HARD WORKING ENTREPRENEURS HAVE THE FINANCIAL ACCESS AND TOOLS THEY NEED TO IMPROVE THEIR LIVES AND ENHANCE THE WELL-BEING OF THEIR FAMILIES, COMMUNITIES AND LOCAL ECONOMIES FOR YEARS TO COME. ACCION OPPORTUNITY FUND, INC. WAS FORMED IN 2011 TO ELEVATE AND SUPPORT THE WORK OF ITS MEMBERS AS WELL AS OTHER LEADING MICRO LENDERS ON A NATIONAL SCALE. PRIORITY STRATEGIES FOR REALIZING THIS ARE AS FOLLOWS: PROPELLING THE FLOW OF RESOURCES, SUPPORT, TOOLS AND INFORMATION TO ALL MEMBER AND NON-MEMBER MICROFINANCEORGANIZATIONS - INCLUDING FUNDRAISING, TRAINING AND EDUCATION, MEDIA. PARTNERSHIP AND PROGRAMMATIC OPPORTUNITIES- TO ENCOURAGE THEIR DEVELOPMENT, INCREASING ACCESS TO CREDIT AND OTHERWISE PROMOTING FINANCIAL INCLUSION AND FINANCIAL HEALTH THROUGH TRAINING AND MENTORING FOR MEMBERS OF LOW-TO-MODERATE INCOME COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Greg Avis Board Chair | OfficerTrustee | 1.5 | $0 |
Jim Koshland Vice Chair & Secretary | OfficerTrustee | 1.5 | $0 |
Mickey Konson Assistant Secretary | OfficerTrustee | 1.5 | $0 |
Luz Lopez Urrutia President & CEO | OfficerTrustee | 3 | $0 |
Rolland Jurgens - FR Feb 2021 Chief Financial Officer | Officer | 3 | $0 |
Mike Torres CFO & Evp | Officer | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Craftsman Technology Group Llc Cloud Lending Certified Partner | 12/30/17 | $541,049 |
Cloud Lending Licenses And Support Services | 12/30/17 | $449,367 |
Harder & Co Community Research Client Impact Evaluation | 12/30/17 | $183,000 |
Citizens Consulting Ltd Consulting | 12/30/17 | $173,116 |
Demystdata Data Analytical Services | 12/30/17 | $157,579 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,243,469 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,243,469 |
| Total Program Service Revenue | $0 |
| Investment income | $1,038 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,244,507 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,205,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,154,586 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,134 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $78 |
| Fees for services: Accounting | $20,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,052,938 |
| Advertising and promotion | $20,381 |
| Office expenses | $5,497 |
| Information technology | $33,774 |
| Royalties | $0 |
| Occupancy | $12,823 |
| Travel | $1,833 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $446 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,828,061 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $536,672 |
| Savings and temporary cash investments | $2,851,505 |
| Pledges and grants receivable | $2,740,000 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $43,880 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,172,057 |
| Accounts payable and accrued expenses | $207,334 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $207,334 |
| Net assets without donor restrictions | $2,538,723 |
| Net assets with donor restrictions | $3,426,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,172,057 |
Grants Awarded
Over the last fiscal year, Accion Opportunity Fund Inc has awarded $1,155,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
San Jose, CA PURPOSE: MICRO-LENDING ACTIVITES & PROGRAM SUPPORT | $348,275 |
New York, NY PURPOSE: MICRO-LENDING ACTIVITES & PROGRAM SUPPORT | $303,425 |
Chicago, IL PURPOSE: MICRO-LENDING ACTIVITES & PROGRAM SUPPORT | $257,000 |
San Diego, CA PURPOSE: MICRO-LENDING ACTIVITES & PROGRAM SUPPORT | $161,300 |
New York, NY PURPOSE: PROGRAM SUPPORT | $35,000 |
Boston, MA PURPOSE: PROGRAM SUPPORT | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Accion Opportunity Fund Inc has recieved totaling $1,869,271.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $1,609,000 |
Sue Hostetler & Beau Wrigley Family Foundation Inc Chicago, IL PURPOSE: SUPPORT ACCESS TO FINANCING FOR SMALL BUSINESSES BY PROVIDING LOAN CAPITAL. | $100,000 |
Allies For Community Business Inc Chicago, IL PURPOSE: PAYMENTS TO CDFI PARTNERS TO ASSIST A4CB REACH CLIENTS IN THEIR MARKETS | $80,000 |
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: COMMUNITY & HUMAN SERVICES | $50,000 |
Goldman Sachs Charitable Gift Fund New York, NY PURPOSE: COMMUNITY OUTREACH & ENRICHMENT PROGRAMS | $15,000 |
Community Foundations Inc Columbus, OH PURPOSE: URBAN AFFAIRS | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Casbo Sacramento, CA | $7,956,691 | $4,931,132 |
Accion Opportunity Fund Inc San Jose, CA | $6,172,057 | $6,244,507 |
Mauna Lani Resort Association Kohala Coast, HI | $3,965,841 | $3,519,354 |
Pacific Merchant Shipping Association Oakland, CA | $4,538,580 | $3,789,309 |
Arizona Society Of Certified Public Accountants Phoenix, AZ | $5,315,175 | $3,081,125 |
Oregon Society Of Certified Public Accountants Beaverton, OR | $4,261,945 | $3,002,027 |
United Association Of Journeymen & Apprentices Of The Plumbing & Pipe Orange, CA | $5,805,730 | $2,268,503 |
Professionals In Human Resources Association Torrance, CA | $2,197,340 | $2,318,409 |
Northern California Mechanical Contractors Association 07-94 Vacaville, CA | $7,880,996 | $4,424,782 |
Downtown Berkeley Association Berkeley, CA | $954,283 | $1,696,087 |
United Association Of Journeymen & Apprentices Of The Plumbing & Pipe Duarte, CA | $7,279,421 | $2,378,281 |
General Contractors Association Of Hawaii Honolulu, HI | $6,721,024 | $1,455,396 |