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Opportunity Alabama Inc

EIN 83-2134053 · Birmingham, AL

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthFair65 out of 100GovernanceStrong93 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

FOUNDED IN 2018, OPPORTUNITY ALABAMA (OPAL) IS AN ECONOMIC DEVELOPMENT ORGANIZATION COMMITTED TO CREATING A NATIONAL MODEL OF SUSTAINABLE ECONOMIC DEVELOPMENT THROUGH COMMUNITY-LED, PLACE-BASED INVESTMENTS. WE HELP UNDERSERVED COMMUNITIES LEVERAGE DIVERSE FUNDING SOURCES FOR PROJECTS AND INITIATIVES THAT IMPROVE QUALITY OF PLACE AND ENHANCE THE BUILT ENVIRONMENT. MOST OF THAT WORK INVOLVES CLOSING ACCESS TO CAPITAL GAPS IN LOW-INCOME COMMUNITIES, IN ECONOMICALLY DISTRESSED COMMUNITIES, AND/OR WITHIN DISADVANTAGED POPULATIONS (INCLUDING, BUT NOT LIMITED TO, MINORITY- AND WOMEN-OWNED BUSINESSES, RESIDENTS OF LOW-INCOME AREAS, ETC.). THROUGH THAT WORK, WE REMEDIATE BLIGHT, IMPROVE GENERAL ECONOMIC AND SOCIETAL CONDITIONS, COMBAT COMMUNITY DETERIORATION, AND/OR PRESERVE THE TRADITIONS, ARCHITECTURE, AND APPEARANCE OF THE COMMUNITIES WE SERVE.

Income
$2.1 million
Spending
$1.7 million
Spent on programs
92%
Reserves
4 months of spending
Largest source of income
donations and private grants, 59%
Employees
0
Volunteers
7
Highest pay
$190,666, president

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Fair: 65 out of 100. Higher than 39% of charities in its peer group (community improvement, $1m to $10m).

  • Reserves

    20 of 35

    Spendable reserves would cover 4.0 months of spending.

  • Debt

    10 of 20

    It owes 36% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 17% of income.

  • Income trend

    5 of 15

    Income fell 14% on the year before.

  • Spending floor

    15 of 15

    91% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 93 out of 100. Higher than 57% of charities in its peer group (community improvement, $1m to $10m).

  • Independent board

    18 of 25

    4 of 4 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (2)
  1. $953,932 spent. OPAL HAS BUILT AN INFRASTRUCTURE TO RAISE AND INVEST PRIVATE FUNDS INTO THE PIPELINE OF INVESTMENT OPPORTUNITIES WE IDENTIFY. A SUBSTANTIAL AMOUNT OF THIS WORK IS UNDERTAKEN BY OUR WHOLLY-OWNED SUBSIDIARY, OPAL INVESTMENTS (AN ALABAMA BENEFIT CORPORATION). THE REST IS UNDERTAKEN BY OPAL COMMUNITY CAPITAL, A FLEXIBLE SOURCE OF CAPITAL CRITICAL TO ENSURING THAT THE DEALS THAT COME THROUGH PDAP ULTIMATELY HAVE A COMPLETE CAPITAL STACK. OCC'S PRIMARY MISSION IS TO PROVIDE LOAN AND OTHER INVESTMENT PRODUCTS FOR REAL ESTATE AND BUSINESSES IN ORDER TO PROMOTE ECONOMIC DEVELOPMENT AND CLOSE ACCESS TO CAPITAL GAPS IN LOW-INCOME COMMUNITIES, IN ECONOMICALLY DISTRESSED COMMUNITIES, AND/OR WITHIN DISADVANTAGED POPULATIONS (INCLUDING, BUT NOT LIMITED TO, MINORITY- AND WOMEN-OWNED BUSINESSES, RESIDENTS OF LOW-INCOME AREAS, ETC.). WE HAVE APPLIED TO HAVE OCC RECOGNIZED AS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION BY THE US DEPT OF TREASURY. DURING 2024, WE DEPLOYED OVER $800K IN NEW INVESTMENT TO FOUR PROJECTS ACROSS ALABAMA, ALL LOCATED IN LOW-INCOME COMMUNITIES; BORROWERS INCLUDED A COMMUNITY-BASED NONPROFIT, A WOMAN-OWNED BUSINESS, AND A MINORITY-OWNED DEVELOPMENT TEAM, WORKING ON PROJECTS THAT WOULD CREATE NEW COMMERCIAL SPACE, NEW JOBS, NEW HOUSING UNITS, AND MORE.
  2. $635,954 spent. OUR SECOND LARGEST PROGRAMMATIC ACTIVITY DURING 2024 WAS OUR PROPERTY DEVELOPMENT ASSISTANCE PROGRAM (PDAP) WHICH HELPS PROPERTY OWNERS AND EMERGING DEVELOPERS IN UNDERSERVED MARKETS TAKE A COMMUNITY-SUPPORTED PROJECT FROM CONCEPT TO CONSTRUCTION. WE HELP PROJECT TEAMS NAVIGATE PRE-DEVELOPMENT PLANNING, BUDGETING, MARKET ANALYSIS, PRO FORMA CREATION. WE THEN HELP PROJECTS SECURE ALL THE INCENTIVES POSSIBLE TO ENHANCE THEIR ABILITY TO RECEIVE INVESTMENT AND BREAK GROUND. THROUGH PDAP, WE ARE BUILDING A PIPELINE OF PROJECTS THAT ARE BRINGING VACANT BUILDINGS BACK INTO SERVICE AND SUPPORTING MEANINGFUL NEW CONSTRUCTION WHILE SUPPORTING LOCAL BUSINESSES, CREATING AND IMPROVING HOUSING, SUPPORTING REUSE AND/OR REDIRECTION OF DOWNTOWN AREAS AND CENTRAL BUSINESS DISTRICTS, AND MORE. DURING 2024, WE ASSISTED 16 DIFFERENT PROJECTS IN LOW-INCOME OR UNDERSERVED COMMUNITIES ACROSS ALABAMA WITH OUR FULL SUITE OF PDAP PROGRAMMING. THESE PROJECTS WILL PROVIDE EVERYTHING FROM COMMUNITY ART SPACE AND NEW RETAIL TO BOUTIQUE HOTELS AND CRITICALLY-NEEDED HOUSING.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since May 2019.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.