Opportunity Finance Network
86% goes to programs $0 to raise $100 Strong reserves Growing revenue
Opportunity Finance Network is a 501(c)(3) organization based in Philadelphia, Pennsylvania, registered in 2008, with $2,333,785,289 in FY2024 revenue. CharityIndex grades it A, and it directs about 86% of spending to programs.
123 S Broad St Ste 1930, Philadelphia, PA, 19109 EIN 20-5189202 Since 2008
Revenue (FY2024)
$2.3B
▲ 9245.9% vs prior year
Public Benefit median: $140K
Expenses (FY2024)
$41.0M
Net assets
$2.4B
Employees
85
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
A+Program efficiency40% of the rating86% to programs · $0 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Opportunity Finance Network: 86% to programs · $0 to raise $100 earns a A+ on this criterion. See the exact thresholds →
B+Financial health25% of the rating711 mo reserves · +98% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Opportunity Finance Network: 711 mo reserves · +98% margin earns a B+ on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Opportunity Finance Network: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Opportunity Finance Network: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Opportunity finance network's (ofn) mission is to lead community development financial institutions (cdfis) and their partners to ensure that low-income, low-wealth, and other disinvested people and communities have access to affordable, responsible financial products and services. ofn is a national leadership network of more than 450+cdfis, including community banks, credit unions, and loan funds. ofn, through its members, invests in low-income and underserved rural, urban, and native american communities across all 50 states in america; providing affordable, responsible credit that finances community businesses, sparks job growth in the areas that need it most, and delivering both sound financial returns and real changes for people and communities. ofn's program service offerings include providing financial products and services for cdfis, increasing the strength and capacity of the cdfi industry, and amplifying the voice of the industry.
What they do
Strength: building potential for impactofn strengthens the cdfi industry by providing peer learning opportunities, research, networking platforms, and signature annual events (e.g. the ofn conference and small business finance forum) for cdfi practitioners, partners, and investors.
Voice: amplifying the cdfi message and securing stakeholder supportacross 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.
Contact & location
- Address
- 123 S Broad St Ste 1930, Philadelphia, PA, 19109
- City
- Philadelphia
- State
- Pennsylvania
- Category
- Public & Societal Benefit
- Subcategory
- Financial Institutions
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $17.3M (FY2014) to $2.3B (FY2024) across 11 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $198.6MNet assets $2.4B
Operating margin
98.2%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$2.6B
Total liabilities
$198.6M
Net assets
$2.4B
Salaries & benefits
$10.3M
25% of expenses
Board members
12
12 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $2,333,785,289▲9246% | $40,955,651▲31.1% | $2,425,759,605▲1717% | $2,624,374,128▲737% | 990 |
| 2023 | $24,971,319▼67.2% | $31,233,261▼14.5% | $133,489,346▼4.3% | $313,600,163▲6.6% | 990 |
| 2022 | $76,048,439▲46.2% | $36,517,605▲65.3% | $139,548,478▲38.5% | $294,224,646▲30.6% | 990 |
| 2021 | $52,021,160▲68.7% | $22,092,402▼8.2% | $100,726,444▲54.2% | $225,364,675▲19.0% | 990 |
| 2020 | $30,843,576▲87.4% | $24,070,767▲119% | $65,319,786▲11.9% | $189,426,198▲24.6% | 990 |
| 2019 | $16,457,655▲25.4% | $11,009,104▲4.5% | $58,388,783▲10.3% | $152,045,945▲7.0% | 990 |
| 2018 | $13,123,545▲28.8% | $10,533,613▼5.1% | $52,929,417▼0.5% | $142,073,399▼0.3% | 990 |
| 2017 | $10,185,315▼12.4% | $11,095,319▼23.0% | $53,210,791▲3.3% | $142,561,606▼0.5% | 990 |
| 2016 | $11,622,512▼13.8% | $14,417,609▲15.3% | $51,509,663▼5.2% | $143,223,853▲8.1% | 990 |
| 2015 | $13,490,659▼22.0% | $12,506,610▲5.4% | $54,333,182▲1.8% | $132,546,390▲5.8% | 990 |
| 2014 | $17,299,648 | $11,869,799 | $53,395,085 | $125,261,510 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Harold Pettigrew — $468,873 (1.14% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Harold Pettigrew | President & Ceo | 40 | $468,873 |
| Amber Kuchar Bell | Evp, Chief Strategy & Oper | 40 | $347,075 |
| Brendon Miller Since 124 | Evp, Chief of Staff & Head of Communications | 40 | $277,266 |
| Seth Julyan | Evp, Chief Network Officer | 40 | $269,260 |
| Dafina Williams | Evp, Chief External Affair | 40 | $267,468 |
| Beth Lipson Until 324 | Evp, Chief Financial Offic | 40 | $230,540 |
| Mary Wright | Svp, Financial Servi | 40 | $229,978 |
| Shakeyda Daniels | Svp, Financial Servi | 40 | $209,682 |
| Bhumip Patel Until 1024 | Svp, Accounting & Fi | 40 | $203,976 |
| Tamara Frye | Svp, Human Resources | 40 | $200,693 |
| Lisa Chensvold | Svp, Strategic Commu | 40 | $191,766 |
| Adrienne Smith | Svp, Research | 40 | $185,734 |
| Jessel Amin Since 624 | Evp, Chief Investment Officer | 40 | $175,459 |
| Sindhu Lakshmanan | Svp, Development Ser | 40 | $175,031 |
| Mary Scott Balys | Vp, Public Policy | 40 | $160,407 |
| Kevin Fryatt Since 624 | Evp, Chief Operating Officer | 40 | $153,852 |
| Aisha Benson | Board Member | 2 | — |
| Ariel Meyerstein | Board Member Since 6/24 | 2 | — |
| Arlo Washington | Board Member Since 10/24 | 2 | — |
| Betsy Biemann | Board Vice Chair Until 10/24 | 2 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Civic Initiatives LLC | Procurement & Compliance | $544,773 |
| All Around Creative | Marketing Services | $307,376 |
| Forsyth Street Advisors LLC | Advisory Services | $247,776 |
| Zrg Partners LLC | Executive Recruiting Services | $190,770 |
| Jenner & Block | Legal Services | $163,163 |
Grants received · $70.2M total
28 grants to Opportunity Finance Network totaling $70.2M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| American Online Giving Foundation Inc | General support | 2024 | $4,951,714 |
| The Community Foundation Inc | Economic prosperity | 2024 | $100,000 |
| The Blackbaud Giving Fund | General support | 2024 | $75,000 |
| Charities Aid Foundation America | Charitable donation | 2024 | $25,000 |
| Tides Foundation | Equity, human rights, and economic empowerment | 2023 | $345,000 |
| New Venture Fund | Capacity building | 2023 | $200,000 |
| Charities Aid Foundation America | Charitable donation | 2023 | $150,000 |
| The Community Foundation Inc | Economic prosperity | 2023 | $100,000 |
| National Philanthropic Tr | Public, societal benefit | 2022 | $25,000,000 |
| Tides Foundation | Equity, human rights, and economic empowerment | 2022 | $10,715,000 |
| Tides Foundation | Equity, human rights, and economic empowerment | 2022 | $10,715,000 |
| Winston-salem Foundation | 1 grant(s) for varying purposes | 2022 | $500,000 |
| Charities Aid Foundation America | Charitable donation | 2022 | $74,750 |
| American Online Giving Foundation Inc | General support | 2022 | $36,808 |
| The Blackbaud Giving Fund | General support | 2022 | $25,000 |
Grants made · $14.8M in FY2024
53 grants totaling $14.8M in FY2024 — showing the 15 largest. All grants made by Opportunity Finance Network →
| Recipient | Purpose | Amount |
|---|---|---|
| Cook Inlet Lending Center Inc | Operating grant | $500,000 |
| Accessity | Operating grant | $500,000 |
| Spruce Root Inc | Operating grant | $500,000 |
| White Earth Investment Initiative | Operating grant | $500,000 |
| Neighborhood Development Center Inc | Operating grant | $500,000 |
| Pacific Northwest Tribal Lending A Community Development Financial | Operating grant | $400,000 |
| Pathstone Corporation | Operating grant | $400,000 |
| Wisconsin Native Loan Fund Inc | Operating grant | $400,000 |
| Cooperative Fund of the Northeast Inc | Operating grant | $400,000 |
| La Fuerza Unida Community Development Corporation | Operating grant | $400,000 |
| Working Solutions Cdfi | Operating grant | $350,000 |
| Just Community Inc | Operating grant | $350,000 |
| One Roof Community Housing | Operating grant | $300,000 |
| Mission Economic Development Agency | Operating grant | $300,000 |
| Latino Economic Development Corporation of Washington Dc | Operating grant | $300,000 |
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Compare Opportunity Finance Network
Frequently asked questions
- Is Opportunity Finance Network a legitimate nonprofit?
- Yes. Opportunity Finance Network is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 20-5189202, based in Philadelphia, Pennsylvania. Donations are tax-deductible.
- What is Opportunity Finance Network's EIN?
- Opportunity Finance Network's Employer Identification Number (EIN) is 20-5189202.
- How much revenue does Opportunity Finance Network report?
- Opportunity Finance Network reported $2,333,785,289 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Opportunity Finance Network's spending goes to programs?
- Opportunity Finance Network spends about 86% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Opportunity Finance Network have?
- CharityIndex grades Opportunity Finance Network A, based on program efficiency and fundraising cost.
- How much does Opportunity Finance Network's highest-paid employee make?
- The highest reported compensation on Opportunity Finance Network's latest Form 990 is $468,873, paid to Harold Pettigrew (President & Ceo).
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Explore more
Data for Opportunity Finance Network (EIN 20-5189202) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.