Opportunity Plan Inc
- Assets
- $30.1m
- Revenue
- $1.6m
- Investments
- $26.8m
- Employees
- 0
- Location
- Canyon, TX
- Founding
- 07/1961
- Data as of
- 07/2022
- EIN
- 75-6020405
Organization Overview
Opportunity Plan Inc is located in Canyon, TX. The organization was established in 1961. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Opportunity Plan Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 07/2022, Opportunity Plan Inc generated $1.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $2.3m during the year ending 07/2022. While expenses have increased by 3.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE LOANS AND SCHOLARSHIPS TO COLLEGE STUDENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPI PROVIDES STUDENT LOANS AND SCHOLARSHIPS TO COLLEGE STUDENTS PRIMARILY FROM THE TEXAS PANHANDLE. THIS INVOLVES REVIEWING APPLICATIONS AND MEETING WITH STUDENTS. OVER 400 STUDENTS ARE ASSISTED EACH YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lynda Tinsley Sec/treas | Officer | 1 | $0 |
Dr Larry Johnson Vice-President | Officer | 1 | $0 |
Cathryn Wright President | Officer | 1 | $0 |
Debbie Collier Director | Trustee | 1 | $0 |
Wiley Harp Director | Trustee | 1 | $0 |
Wayne Pierson Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,043,872 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,043,872 |
| Total Program Service Revenue | $42,544 |
| Investment income | $262,522 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $3,095 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $240,228 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,628,999 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,311,895 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $324,773 |
| Pension plan accruals and contributions | $46,896 |
| Other employee benefits | $60,631 |
| Payroll taxes | $24,831 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $66,420 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $99,922 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,528 |
| Office expenses | $1,494 |
| Information technology | $11,616 |
| Royalties | $0 |
| Occupancy | $29,895 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $17,099 |
| All other expenses | $5,720 |
| Total functional expenses | $2,287,301 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $749,136 |
| Savings and temporary cash investments | $756,688 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,774,539 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,644 |
| Net Land, buildings, and equipment | $59,994 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $26,773,152 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,346 |
| Total assets | $30,135,499 |
| Accounts payable and accrued expenses | $55,687 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $55,687 |
| Net assets without donor restrictions | $7,732,066 |
| Net assets with donor restrictions | $22,347,746 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $30,135,499 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Opportunity Plan Inc has recieved totaling $67,887.
| Awarding Organization | Amount |
|---|---|
Amarillo Area Foundation Inc Amarillo, TX PURPOSE: STUDENT AID | $36,910 |
Golden Spread Electric Cooperative Inc Amarillo, TX PURPOSE: SCHOLARSHIPS | $18,250 |
Arizona Community Foundation Phoenix, AZ PURPOSE: PROGRAM SUPPORT | $10,000 |
Mays Foundation Amarillo, TX PURPOSE: SCHOLARSHIPS | $2,700 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $27 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New Mexico Educational Assistance Foundation Albuquerque, NM | $392,805,656 | $19,955,288 |
Greater Texas Foundation Bryan, TX | $0 | $15,972,442 |
Post Oak School Bellaire, TX | $33,296,853 | $15,447,844 |
American Indian Graduate Center Inc Albuquerque, NM | $28,393,677 | $10,605,933 |
Robert G Carr & Nona K Carr Scholarship Foundation San Angelo, TX | $175,014,798 | $4,176,344 |
Abell-Hanger Foundation Midland, TX | $130,201,135 | $12,262,823 |
J F Maddox Foundation Hobbs, NM | $240,372,497 | $15,567,055 |
Indigenous Education Inc Albuquerque, NM | $3,738,546 | $7,442,761 |
Higher Education Servicing Corp In Arlington, TX | $44,544,807 | $11,853,938 |
Brazos Higher Education Service Corporation Inc Waco, TX | $152,724,525 | $12,631,577 |
Smart Bowling Scholarship Funding Corporation Arlington, TX | $97,151,764 | $16,570,188 |
New Mexico Student Loan Guarantee Corporation Albuquerque, NM | $15,866,075 | $3,044,592 |