Opportunity Labs Foundation Inc
- Assets
- $600.9k
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 5
- Location
- Brielle, NJ
- Founding
- Data as of
- 12/2023
- EIN
- 84-3894479
Organization Overview
Opportunity Labs Foundation Inc is located in Brielle, NJ. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Opportunity Labs Foundation Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Opportunity Labs Foundation 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 12/2023, Opportunity Labs Foundation Inc generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 19.6% each year . All expenses for the organization totaled $1.3m during the year ending 12/2023. While expenses have increased by 18.9% per year over the past 4 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO BUILD AND CHAMPION LASTING SOLUTIONS THAT CREATE MEANINGFUL OPPORTUNITIES FOR CHILDREN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO BUILD AND CHAMPION LASTING SOLUTIONS THAT CREATE MEANINGFUL OPPORTUNITIES FOR CHILDREN.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Venkat Ramaprasad Secretary | OfficerTrustee | 1 | $0 |
Anne Edidelman Board Member | Trustee | 1 | $0 |
Caroline Burns Board Member | Trustee | 1 | $0 |
Che Bolden Board Member | Trustee | 1 | $0 |
Meghan Walls Board Member | Trustee | 1 | $0 |
Andrew Buher Founder And Managing Direc | Officer | 60 | $270,000 |
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 | $506,880 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $506,880 |
| Total Program Service Revenue | $834,719 |
| Investment income | $0 |
| 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 | $1,341,599 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $186,924 |
| 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. | $527,904 |
| Compensation of current officers, directors, key employees. | $52,790 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $359,730 |
| Pension plan accruals and contributions | $9,087 |
| Other employee benefits | $0 |
| Payroll taxes | $61,152 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,241 |
| Fees for services: Accounting | $22,275 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $86,300 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $7,939 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $13,227 |
| 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 | $3,789 |
| Insurance | $8,649 |
| All other expenses | $1,969 |
| Total functional expenses | $1,295,186 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $529,432 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $39,801 |
| 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 | $28,081 |
| Net Land, buildings, and equipment | $3,612 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $600,926 |
| Accounts payable and accrued expenses | $13,123 |
| 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 | $13,123 |
| Net assets without donor restrictions | $297,702 |
| Net assets with donor restrictions | $290,101 |
| 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 | $600,926 |
Grants Awarded
Over the last fiscal year, Opportunity Labs Foundation Inc has awarded $186,924 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
PUBLIC HEALTH ACCREDITATION BOARD PURPOSE: To build the field's understanding of what it means to help young people thrive. | $75,000 |
SCHOOL SOCIAL WORK ASSOCIATION OF AMERICA PURPOSE: To build the field's understanding of what it means to help young people thrive. | $75,000 |
AMERICAN ACADEMY OF PEDIATRICS PURPOSE: To build the field's understanding of what it means to help young people thrive. | $36,924 |