Program areas at OFN
Financial services: expanding access to responsible, affordable capital.financial services includes the following activities which benefit low-income and low-wealth communities throughout the u.s: ofn's financing fund (on balance-sheet lending and investing to cdfis); fund management services (fee-based business providing cdfi fund management and asset management services to third party investors); new markets tax credit activity; and cdfi bond guarantee program bond issuance and administrative services.
Voice: amplifying the cdfi message and securing stakeholder support.across multiple platforms and audiences, ofn's strategic communications and policy advocacy drive the message that cdfi investments transform communities and change lives-and increases resources to cdfis.
Strength: building potential for impact.ofn strengthens the cdfi industry by providing peer learning opportunities, research, innovative networking platforms, and signature annual events (e.g. The ofn conference and small business Finance forum) for cdfi practitioners, partners, and investors.
Who funds Opportunity Finance Network (OFN)
Grants from foundations and other nonprofits
Personnel at OFN
| Name | Title | Compensation | Date of data |
|---|
| Beth Lipson | Senior Advisor | $298,249 | 2024-10-01 |
| Harold Pettigrew | President and Chief Executive Officer | $250,939 | 2024-10-01 |
| Lisa Mensah | President and Chief Executive Officer Thru Aug 31 , 2022 | $339,989 | 2022-12-31 |
| Amber Kuchar-Bell | Executive Vice President , Chief Strategy Officer | | 2024-10-01 |
| Kevin Fryatt | Executive Vice President , Chief Operations Officer | | 2024-10-01 |
| ...and 34 more key personnel |
Financials for OFN
| Revenues | FYE 12/2023 | FYE 12/2022 | % Change |
|---|
| Total grants, contributions, etc. | $7,042,460 | $63,110,366 | -88.8% |
| Program services | $12,841,534 | $11,902,140 | 7.9% |
| Investment income and dividends | $4,067,079 | $1,039,153 | 291.4% |
| Tax-exempt bond proceeds | $0 | $0 | - |
| Royalty revenue | $0 | $0 | - |
| Net rental income | $0 | $0 | - |
| Net gain from sale of non-inventory assets | $-893,984 | $-3,220 | -27663.5% |
| Net income from fundraising events | $0 | $0 | - |
| Net income from gaming activities | $0 | $0 | - |
| Net income from sales of inventory | $0 | $0 | - |
| Miscellaneous revenues | $1,914,230 | $0 | 999% |
| Total revenues | $24,971,319 | $76,048,439 | -67.2% |
Organizations like OFN
| Organization | Type | Location | Revenue |
|---|
| LiftFund | 501(c)(3) | San Antonio, TX | $51,818,585 |
| Chicago Community Loan Fund (CCLF) | 501(c)(3) | Chicago, IL | $15,665,409 |
| Initiative Foundation | 501(c)(3) | Little Falls, MN | $10,031,903 |
| South Carolina Community Loan Fund | 501(c)(3) | Charleston, SC | $6,646,393 |
| The Reinvestment Fund (TRF) | 501(c)(3) | Philadelphia, PA | $54,478,225 |
| The national Development council | 501(c)(3) | New York, NY | $35,945,507 |
| Iff | 501(c)(3) | Chicago, IL | $102,836,770 |
| Southwest Initiative Foundation | 501(c)(3) | Hutchinson, MN | $13,272,478 |
| Propel Nonprofits | 501(c)(3) | Minneapolis, MN | $9,328,353 |
| City First Enterprises | 501(c)(3) | Washington, DC | $21,464,449 |
Data update history
October 1, 2024
Updated personnel
Identified 4 new personnel
September 21, 2024
Received grants
Identified 2 new grant, including a grant for $750,000 from Focusing Philanthropy May 18, 2024
Received grants
Identified 9 new grant, including a grant for $10,715,000 from Tides Foundation December 5, 2023
Posted financials
Added Form 990 for fiscal year 2022
December 3, 2023
Updated personnel
Identified 1 new personnel
Nonprofit Types
Grantmaking organizationsBusiness and community development organizationsCommunity Development Financial InstitutionsCharities
Issues
Community improvementEconomic development
Characteristics
Political advocacyLobbyingNational levelReceives government fundingTax deductible donationsAccepts online donations
General information
- Address
- 123 S Broad St Suite 1930
- Philadelphia, PA 19107
- Metro area
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
- County
- Philadelphia County, PA
- Website URL
- ofn.org/Â
- Phone
- (215) 923-4754
- Facebook page
- ofn.orgÂ
- Twitter profile
- @oppfinanceÂ
IRS details
- EIN
- 20-5189202
- Fiscal year end
- December
- Taxreturn type
- Form 990
- Year formed
- 2006
- Eligible to receive tax-deductible contributions (Pub 78)
- Yes
Categorization
- NTEE code, primary
- S30: Economic Development
- NAICS code, primary
- 522120: Savings Institutions
- Parent/child status
- Independent
California AB-488 details
- AB 488 status
- May Operate or Solicit for Charitable Purposes
- Charity Registration status
- Current - Awaiting Reporting
- FTB status revoked
- Not revoked
- AG Registration Number
- CT0177052
- FTB Entity ID
- 3457888
- AB 488 data last updated ("as-of") date
- 2024-11-20
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