Opportunity Alabama Inc
- Assets
- $476.9k
- Revenue
- $802.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Birmingham, AL
- Founding
- 05/2019
- Data as of
- 12/2021
- EIN
- 83-2134053
Organization Overview
Opportunity Alabama Inc is located in Birmingham, AL. The organization was established in 2019. According to its NTEE Classification (S12) the organization is classified as: Fund Raising & Fund Distribution, 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. Opportunity Alabama 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 12/2021, Opportunity Alabama Inc generated $802.8k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 35.1% each year . All expenses for the organization totaled $963.1k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
OPPORTUNITY ALABAMA (OPAL) IS THE ECONOMIC DEVELOPMENT ENGINE FOR ALABAMA'S LOW-INCOME PLACES. IT IS ORGANIZED TO ERADICATE GENERATIONAL POVERTY IN ALABAMA'S DISTRESSED COMMUNITIES BY (1) EDUCATING COMMUNITIES ABOUT HOW TO PROMOTE GROWTH IN LOW-INCOME AREAS, (2) ATTRACTING PRIVATE CAPITAL TO LOW-INCOME AREAS, AND (3) TRACKING DATA ABOUT WHETHER PRIVATE INVESTMENTS IN LOW-INCOME AREAS ARE ALLEVIATING POVERTY. ITS PRIMARY FOCUS IS ON THE STATE'S 158 OPPORTUNITY ZONES, LOW-INCOME CENSUS TRACTS DESIGNATED BY GOVERNOR KAY IVEY AS PART OF THE OPPORTUNITY ZONES INITIATIVE CREATED BY THE TAX CUTS AND JOBS ACT OF 2017.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY SUPPORT - COMMUNITY GROWTH ACCELERATOR: A ONE TO THREE MONTH INTENSIVE ACCELERATOR-STYLE CURRICULUM THAT PROVIDES ALABAMA'S UNDERSERVED COMMUNITIES WITH A PATHWAY FOR ECONOMIC RESILIENCY BY EITHER IDENTIFYING AND SCALING INVESTABLE DEALS AND/OR DEVELOPING IMPACTFUL ECONOMIC DEVELOPMENT INTIATIVES. AFTER THE INTENSIVE ACCELERATOR ENGAGEMENT, WE WORK TO ACCOMPLISH AT LEAST ONE OF THE FOLLOWING DELIVERABLES, BASED ON THE STRENGHTS OF THE LOCAL ECOSYSTEM: (1) A "SHOVEL READY" INVESTMENT OPPORTUNITY (WITH COMPLETE PRO FORMA, DEMAND ASSESSMENT, MARKETING MATERIALS, ETC.); (2) A ROADMAP TO LAUNCH OR EXPAND AN ECONOMIC DEVELOPMENT INITIATIVE THAT WILL FOSTER RESILIENCE IN THAT SPECIFIC GEOGRAPHY WITH ACCOMPANYING MARKETING, COMMUNICATIONS, AND/OR GRANT APPLICATION MATERIALS TO ASSIST IN SECURING FUNDING.
PIPELINE DEVELOPMENT: OPAL EXISTS TO BUILD A PIPELINE OF QUALITY, COMMUNITY-CENTRIC INVESTMENT OPPORTUNITIES - THEN EITHER CONNECT THOSE OPPORTUNITIES TO CAPITAL OR PROVIDE THEM WITH THE TECHNICAL ASSISTANCE THEY NEED TO CLOSE. THROUGH THIS DIRECT ASSISTANCE, THE ORGANIZATION HELPS TO CREATE A FUTURE PIPELINE IN POTENTIAL NEW PROJECTS THAT COULD RECEIVE INVESTMENT OVER THE NEXT SEVERAL YEARS.
ACCESS TO CAPITAL: CREATING AN INFRASTRUCTURE THAT ALLOWS FOR POTENTIAL PROJECTS TO GET FUNDED BY ALABAMA INVESTORS. THE OPAL FUND WAS CREATED TO ASSIST WITH THIS AND FOCUSES ON OPPORTUNITY ZONE AREAS THAT (1) ALIGN WITH COMMUNITY NEED AND HAVE STRONG COMMUNITY SUPPORT AND (2) HELP CREATE WEALTH AND ACCESS TO OPPORTUNITY FOR UNDERSERVED GROUPS IN ALABAMA.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Ruth Secretary | OfficerTrustee | 3 | $0 |
Alexander Flachsbart President | OfficerTrustee | 50 | $0 |
Greg Barker Chair | OfficerTrustee | 3 | $0 |
Myla Calhoun Director | Trustee | 1 | $0 |
Anoop Mishra Director | Trustee | 1 | $0 |
James Outland Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $802,531 |
| All other contributions, gifts, grants, and similar amounts not included above | $250 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $802,781 |
| Total Program Service Revenue | $0 |
| Investment income | $3 |
| 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 | $802,784 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $368,292 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,297 |
| Payroll taxes | $29,020 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $66,991 |
| Fees for services: Accounting | $23,926 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $75 |
| Office expenses | $0 |
| Information technology | $1,145 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,873 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,395 |
| All other expenses | $316 |
| Total functional expenses | $963,077 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $65,767 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $283,526 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $127,605 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $476,898 |
| Accounts payable and accrued expenses | $14,000 |
| 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 | $241,376 |
| Total liabilities | $255,376 |
| Net assets without donor restrictions | $221,522 |
| Net assets with donor restrictions | $0 |
| 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 | $476,898 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Opportunity Alabama Inc has recieved totaling $150,000.
| Awarding Organization | Amount |
|---|---|
New Venture Fund Washington, DC PURPOSE: CAPACITY BUILDING | $150,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lift Inc Tupelo, MS | $308,777 | $4,064,003 |
Memphis Land Bank Inc Memphis, TN | $18,817,383 | $908,597 |
Opportunity Alabama Inc Birmingham, AL | $476,898 | $802,784 |
Olympia Center Inc Miami, FL | $304,920 | $1,191,186 |
Mid-South Resource Conservation And Development Council Inc Montgomery, AL | $756,293 | $878,672 |
Jacksonville Fraternal Order Of Police Foundation Inc Jacksonville, FL | $375,519 | $224,137 |
Yah-Yah Girls Inc Punta Gorda, FL | $180,036 | $218,438 |
Downtown Kingsport Association Inc Kingsport, TN | $120,764 | $158,092 |
Hoover Helps Hoover, AL | $125,587 | $165,616 |
Oak Ridge Rotary Community Fund Oak Ridge, TN | $26,782 | $13,113 |
One Spark Inc Jacksonville, FL | $0 | $0 |
Advance Dekalb Inc Decatur, GA | $567,062 | $234,100 |