OPPORTUNITY FINANCE NETWORK

Philadelphia, PA | Philadelphia County
Community Services
OPPORTUNITY FINANCE NETWORK
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As of , this nonprofit no longer meets findCRA's qualification requirements and will no longer appear in CQ search results.

Reason for disqualification:

Overview

OPPORTUNITY FINANCE NETWORK
20-5189202
123 S BROAD ST STE 1930
Philadelphia, PA 19109
Philadelphia County

Mission Statement info

This nonprofit has not reported a mission statement.

CRA Category info
  • Community Services
Nonprofit location info
  • This nonprofit is not located in any CRA geographies.
Awards & Certifications info
  • CDFI Organization
  • CDFI Award Recipient
Founded info
Not reported
Total Employees info
Not reported
Total Volunteers info
Not reported
Nonprofit Classification (NTEE Code) info
W60

W - Public, Society Benefit

Financial Institutions

Organizations that provide an alternative to the traditional banking system for people who want to maintain checking or savings accounts, purchase money orders, cash third-party checks or engage in other financial transactions.

IRS Activity Codes info
-
Not reported
-
Not reported
-
Not reported
Standard Business Classification (NAICS Code) info
522000
Credit Intermediation and Related Activities

CRA Alignment

CRA Category info
Community Services
Social services and other support for low- and moderate-income, homeless or at-risk individuals.
What does it mean for a nonprofit to be CRA aligned?
Each nonprofit on Community Qualifier has been reviewed by findCRA utilizing a dual evaluation process. Nonprofits are first evaluated by our proprietary algorithm, CRANIA, and then further validated by our CRA experts. When nonprofit passes both parts of this review, we create a nonprofit profile for them on Community Qualifier. From there, a nonprofit can claim their profile and add additional information including their programs & services, counties served, targeted clients and income groups and more.
Awards & Certifications info
Community Development Financial Institution info
Date Certified info
9/17/2013
Native American CDFI info
N
Financial Institution Type info
Loan Fund
Community Development Financial Institution Award Recipient info
New Market Tax Credit Recipient info
YearAmountProgramAwardee Name
2013 $100,000,000 CDFI Bond Guarantee Program open_in_new Opportunity Finance Network
2013 $1,347,000 CDFI Financial Assistance open_in_new Opportunity Finance Network
2014 $2,000,000 CDFI Financial Assistance open_in_new Opportunity Finance Network
2018 $700,000 CDFI Financial Assistance open_in_new Opportunity Finance Network
2019 $565,000 CDFI Financial Assistance open_in_new Opportunity Finance Network
2020 $520,000 CDFI Financial Assistance open_in_new Opportunity Finance Network
2022 $590,000 CDFI Financial Assistance open_in_new Opportunity Finance Network
2021 $1,826,265 CDFI Rapid Response Program (COVID-19) open_in_new Opportunity Finance Network

Includes CDFI Fund awards granted between January 2013 and December 2023

HUD Counseling Agency info
Low Income Housing Tax Credit Recipient info

IRS Summary

Income
$76.1M
Revenue
$76M
Assets
$294.2M

IRS Business Master File Details info

As of August 2024
Exempt Ruling Date info
2008-08
Deductibility Status info
Deductible
Last Tax Filing info
2022
Organization Type info
Corporation
Organization Tax Filing Status info
990 (all other) or 990EZ return
Foundation Tax Filing Status info
990-PF not required by IRS
Affiliation Classification info
Independent Organization
Basis for Foundation/Public Charity Status info
Organization normally receives no more than one-third of support from gross investment and unrelated business income and at same time more than one-third of its support from contributions, fees and gross receipts related to exempt purposes 509(a)(2)

IRS Publication 78 Details info

As of August 2024
Verified in Publication 78 info
Yes
Deductibility Limitation info
50% (60% for cash contributions)
Organization Description info
A public charity

IRS Form 990 Returns info

Through August 2023
Tax period ending in
2021-12
E-File
990
XML
990
Tax period ending in
2020-12
E-File
990
XML
990
Tax period ending in
2019-12
PDF
990
PDF
990-T
Tax period ending in
2018-12
PDF
990
E-File
990
XML
990
Tax period ending in
2017-12
E-File
990
XML
990
Tax period ending in
2016-12
PDF
990
E-File
990
XML
990
Tax period ending in
2015-12
PDF
990

Nonprofit Location

Physical Address info
123 S BROAD ST STE 1930
Philadelphia, PA 19109
Philadelphia County
Area Type info
Metropolitan Statistical Area
FIPS Geocoded Address info
37964
MSA/MD info
42
State info
101
County info
0006.00
Tract info
Upper
Income Level info
Core-Based Statistical Area info
37980 - Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Combined Statistical Area info
428 - Philadelphia-Reading-Camden, PA-NJ-DE-MD
Metropolitan Division info
37964 - Philadelphia, PA
Located In info
Low- or Moderate-Income Census Tract info
Opportunity Zone info
Majority Minority Census Tract info 32.76%
FFIEC Designated Distressed Census Tract info
FFIEC Underserved Census Tract info

Market Data

Census Tract County
0006.00 Philadelphia County
Population
Total Population 2,317 1,593,208
Total Households 868 659,129
Income
Median Family Income (Census*) $195,581 $57,537
Median Family Income (2023 FFIEC est.) $83,100 $84,300
Tract Income Percentage 285.69% N/A
Below Poverty Level 9.6% 22.7%
Unemployment Level 3.2% 8.6%
Housing
Total Housing Units 1,145 730,630
Total Owner-Occupied Units 3.1% 52.2%
Total Renter-Occupied Units 72.7% 47.8%
Total Vacant Units 24.2% 6.4%
* Census tract income based on 2020 American Community Survey data as reported in the 2023 FFIEC Census Flat File; County income based on 2022 American Community Survey data.
View more than 200 performance context data points for this county now.

Management

12
Total Voting Members
in Governing Body info
11
Independent Voting Members
in Governing Body info
Tax Filing Signatory info
Beth Lipson
(215) 320-4317
Principal Officer info
Beth Lipson
findCRA Profile Owner
Nonprofit profile has not yet been claimed
Key Policies & Documents info
Written Conflict of Interest Policy
Written Document Retention & Destruction Policy
Written Whistleblower Policy
CEO Compensation Review Process
Written Minutes of Board Meetings
Financial Statements & Reporting info
Compiled or Reviewed by an Independent Accountant
Audited by an Independent Accountant
Included in Consolidated Financial Statements
Internal Audit Committee Review
Federal Grant Audit Required
Federal Grand Audit Performed
Organization Activities info
Provides Credit Counseling
Conducts Gaming Activities
Engages in Lobbying Activities
Engages in Political Activities
Makes Grants to Individuals
Makes Grants to Organizations

Information in this section is extracted from the nonprofit's e-filed tax return and based on answers provided by the nonprofit in their 990 e-filed for the tax period ending on 2021-12.

A hyphen (“-“) in this section indicates that the information was not required by the IRS or not reported by the nonprofit in its tax return e-filing.

This Nonprofit Profile was automatically created by findCRA based on data available from publicly available government and industry sources and our own research. This Nonprofit Profile is not currently maintained by, endorsed by, or affiliated with this nonprofit. Whenever possible, we utilize the most recent information available including information as made public by the Internal Revenue Service, U.S. Census Bureau, Federal Financial Institutions Examination Council, and more. The format and design of this Nonprofit Profile is ©findCRA. For more information about our Nonprofit Profiles, please visit help.findcra.com.