OPPORTUNITY ALABAMA INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2018

Legal Domicile

Principal Officer

ALEXANDER FLACHSBART

Phone

3344254166

Tax Period

2023-01-01 to 2023-12-31

OPPORTUNITY ALABAMA INC, founded in 2018, is a community nonprofit in the Community Improvement sector that reported $2.4M in total revenue in fiscal year 2023. Revenue surged 98% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.1M, a strong 44% operating margin.

Mission

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/OR 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.

Program Service Accomplishments

Program 1

Expenses: $258,951

OPAL PROVIDES TECHNICAL ASSISTANCE PROGRAMMING TO THREE MAJOR STAKEHOLDER GROUPS - COMMUNITIES, PROPERTY OWNERS OR DEVELOPERS, AND INVESTORS - WHO WANT TO DO SOMETHING CATALYTIC AND LOCALLY...

OPAL PROVIDES TECHNICAL ASSISTANCE PROGRAMMING TO THREE MAJOR STAKEHOLDER GROUPS - COMMUNITIES, PROPERTY OWNERS OR DEVELOPERS, AND INVESTORS - WHO WANT TO DO SOMETHING CATALYTIC AND LOCALLY MEANINGFUL WITHIN THE CONTEXT OF THE BUILT ENVIRONMENT.COMMUNITIES: THROUGH OUR COMMUNITY GROWTH ACCELERATOR PROGRAM, WE WORK WITH A TEAM OF LOCAL LEADERS (MAIN STREET DIRECTORS, CHAMBERS OF COMMERCE, ECONOMIC DEVELOPERS, ETC.) TO IDENTIFY A CATALYTIC REAL ESTATE PROJECT OR ECONOMIC DEVELOPMENT INITIATIVE THAT CAN DELIVER RESULTS FOR THE COMMUNITY BASED ON THE THREE METRICS OF SPEED TO MARKET, COST, AND COMMUNITY IMPACT. THEN, WE WORK WITH LOCAL STAKEHOLDERS TO ACCELERATE THE EXECUTION PROCESS. OUR FOCUS IS LOCAL AND PLACE-BASED, SO EACH COMMUNITY'S RESULTS ARE UNIQUE TO THEIR NEEDS AND OPPORTUNITIES AT THE TIME OF THE ENGAGEMENT. WE HAVE HELPED MULTIPLE PLACE-BASED PROJECTS IN UNDERSERVED COMMUNITIES BREAK GROUND. WE HAVE ALSO HELPED PLAN AND SECURE GRANT FUNDING FOR LMI HOUSING, HISTORIC REVITALIZATION, AND ECONOMIC DEVELOPMENT INITIATIVES.

Program 2

Expenses: $517,902

PROPERTY OWNERS AND DEVELOPERS: OUR PROPERTY DEVELOPMENT ASSISTANCE PROGRAM (PDAP) 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. OPAL ACCEPTS APPLICATIONS TO PDAP TWICE PER YEAR AND PREFERENCE IS GIVEN TO APPLICATIONS LED BY MINORITY AND/OR WOMAN-OWNED DEVELOPMENT TEAMS AND NON-PROFIT OR COMMUNITY DEVELOPMENT ORGANIZATIONS.

Program 3

Expenses: $517,901

LENDING & INVESTMENT: 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. WE ENVISION OCC TO BE A CRITICAL SOURCE OF FOLLOW-ON FUNDING FOR PROJECTS AND BUSINESSES THAT RECEIVED TECHNICAL ASSISTANCE THROUGH OUR CGA AND PDAP PROGRAMS. 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. OVER TIME, WE MAY ULTIMATELY CREATE ADDITIONAL DIRECT INVESTMENT SUBSIDIARIES OF OPAL AS OUR PIPELINE OF SUCH OPPORTUNITIES EXPANDS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,402,165

Program Service Revenue $0

Investment Income $44,438

Other Revenue $0

TOTAL REVENUE $2,446,603

Expense Breakdown

Grants Paid $269,719

Salaries & Benefits $663,756

Fundraising Expenses $0

Program Expenses $1,294,754

Other Expenses $438,821

TOTAL EXPENSES $1,372,296

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,446,603	$1,234,598	+1.0%
Expenses	$1,372,296	$1,171,756	+0.2%
Net Income	$1,074,307	$62,842	+16.1%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MYLA CALHOUN	DIRECTOR	1.00	Director	$0	$0	$0
ANOOP MISHRA	DIRECTOR	1.00	Director	$0	$0	$0
GREG BARKER	CHAIR	3.00	Officer Director	$0	$0	$0
JAMES OUTLAND	DIRECTOR	1.00	Director	$0	$0	$0
TONY SMOKE	DIRECTOR	1.00	Director	$0	$0	$0
WENDI BOYEN	DIRECTOR	1.00	Director	$0	$0	$0
ALEXANDER FLACHSBART	PRESIDENT	50.00	Officer	$0	$0	$0
DAN RUTH	SECRETARY	3.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$2,446,603	$1,372,296	$2,297,424	$1,074,307
2022	$1,234,598	$1,171,756	$635,418	$62,842
2021	$802,784	$963,077	$476,898	$-160,293
2020	$736,960	$480,818	$656,877	$256,142
2019	$325,202	$25,433	$299,769	$299,769