Annual Report as PDF

2015
ANNUAL REPORT
6
0
$4 lion
l
i
M
4091
Californian
Families Helped
Opportunity Fund is California’s leading microfinance nonprofit organization. Our microfinance programs are supported by donors from
the community whose contributions help to fund loans, provide savings accounts, and build stronger families and vibrant neighborhoods.
As California’s leading microfinance provider, our team has deployed $115 million and helped more than 12,000 entrepreneurs, students
and low-income families since 1994.
San Francisco • San Jose • Southern California
© 2016 Opportunity Fund. Design by Argus, LLC.
2015
ANNUAL REPORT
OUR IMPACT
Opportunity Fund
advances the
economic well-being
of working people by
helping them earn,
save and invest in
their future.
Microloans
Microloans enable
small business owners
to pursue their dreams,
support their families
and create jobs in their
communities.
Microsavings
Savings accounts open
the door to financial
stability and mobility.
We help people to save
for college or build an
emergency fund.
1,560
486
Loans to small business owners in 2015
Saving accounts opened in 2015
3,900
$84
Jobs created and sustained in 2015
Average monthly deposit in 2015
$37,271,216
$1,555,132
Invested in small businesses in 2015
Total deposits and incentives in 2015
Opportunity Fund is California’s leading microfinance nonprofit organization. Our microfinance programs are supported by donors from
the community whose contributions help to fund loans, provide savings accounts, and build stronger families and vibrant neighborhoods.
As California’s leading microfinance provider, our team has deployed $115 million and helped more than 12,000 entrepreneurs, students
and low-income families since 1994.
San Francisco • San Jose • Southern California
© 2016 Opportunity Fund. Design by Argus, LLC.
2015
ANNUAL REPORT
OUR IMPACT: MICROLOANS
%
1
9
minority-owned
businesses
Catarah and
Shoneji
In 2015, President Bill
Clinton announced
a groundbreaking
collaboration between
Opportunity Fund and
Lending Club to grow
responsible lending in
underserved areas of
California
From TV's Cupcake Wars to
Borrower Battles
created or retained
per business
Loan amount: $40,000
Location: Los Angeles, CA
Catarah and Shoneji are baking their
way to sweet success as the owners
of LA’s famed Southern Girl Desserts
cupcake shop. The two shot to stardom
when they won TV’s Cupcake Wars
competition, but when business took
off and the "Dessert Divas" needed
financing to expand, their bank turned
them down. Because they didn’t know
about Opportunity Fund, they thought
their only option was a merchant
cash advance—a high-cost alternative
targeting businesses too young to
qualify for a bank loan. They accepted
the high rate and short term because
they needed financing to grow. Soon,
Catarah and Shoneji got caught in
a high-cost debt trap "We fell into a
terrible cycle trying to pay off those
cash advances," said Catarah. "We
were constantly worried about cash
flow. I felt like we would never get out
from under the debt."
It wasn't until Catarah learned about
Opportunity Fund that she found a
way out. Opportunity Fund refinanced
their debt with a $40,000 EasyPay
loan, cutting their monthly payments
by 90% and saving them $10,000 a
month! "Opportunity Fund truly cares
about the success of our business. It
is a relief knowing that we are finally
out of the shark-infested waters of cash
advances.”
"Access to capital for
entrepreneurs is key to
restoring real economic
mobility, job creation and
the economic health of the
middle class. When new credit
technologies, such as Lending
Club’s, are made available
to CDFIs like Opportunity
Fund, they can grow to meet
the rising demand for capital
in underserved communities.
Opportunity Fund and Lending
Club are committed to pilot an
unprecedented partnership.
I can’t wait to see what
happens."
President Clinton,
CGI America 2015
GIVE THE GIFT OF
OPPORTUNITY
Opportunity Fund is California’s leading microfinance nonprofit organization. Our microfinance programs are supported by donors from
the community whose contributions help to fund loans, provide savings accounts, and build stronger families and vibrant neighborhoods.
As California’s leading microfinance provider, our team has deployed $115 million and helped more than 12,000 entrepreneurs, students
and low-income families since 1994.
San Francisco • San Jose • Southern California
© 2016 Opportunity Fund. Design by Argus, LLC.
2015
ANNUAL REPORT
OUR IMPACT: MICROSAVINGS
A child is 7 times more likely
to attend college if she has a
savings account in her name.
%
0
7
of savers are women
Alba
Opportunity Fund holds a
special place in my heart
for investing and believing
in me.
Median Household
Income
Amount Saved: $6,000
Hometown: San Jose, CA
Alba grew up in Chihuahua, Mexico,
where an education is a privilege that
not everyone can afford. In 1995, her
family moved to the United States in
the hope of a better life and a brighter
future.
Alba enrolled in San Jose State
University to pursue a degree in
photography. As Alba explains,
"Getting a college education is
important to me because it empowers
me to act upon the world and be a
better person." Even though Alba was
motivated, there were times that she
felt unsure that she would be able to
continue her college education, simply
because she didn’t have enough money
to cover the cost of tuition and books. It
was then that a few friends from school
mentioned Opportunity Fund’s Savings
Program.
"Microsoft proudly supports
Opportunity Fund's work to
build economic opportunity in
California, and we value the
strategic and innovative ways
Opportunity Fund maximizes
every donation."
Jessica Weare, Microsoft
GIVE THE GIFT OF
OPPORTUNITY
Alba enrolled in Opportunity Fund’s
Savings Program, completed financial
education classes, and saved $2,000.
Our donors matched her savings 2 to 1,
and she had $6,000 to help cover the
cost of tuition and materials.
Alba not only acquired the financial
resources she needed to support her
education, but also built the habit of
saving and learned better ways to
manage her budget. "Opportunity Fund
is more than a savings program, it is
also a support system that believes in
the goals and dreams of students."
Opportunity Fund is California’s leading microfinance nonprofit organization. Our microfinance programs are supported by donors from
the community whose contributions help to fund loans, provide savings accounts, and build stronger families and vibrant neighborhoods.
As California’s leading microfinance provider, our team has deployed $115 million and helped more than 12,000 entrepreneurs, students
and low-income families since 1994.
San Francisco • San Jose • Southern California
© 2016 Opportunity Fund. Design by Argus, LLC.
2015
ANNUAL REPORT
SAY HELLO TO OUR COMMUNITY!
“Many programs aid the poor, but
relatively few help them move up
the economic ladder. Opportunity
Fund does just that. This is a much
higher bar.”
— Bill Gurley, Donor
S M A L L B U S I N ES S OW N E R
Molly
C O L L E G E S AV E R
Andrea
DONOR
Susan Ford Dorsey
D O N O RS
Mark & Debra Leslie
“Every year we help thousands of
striving families achieve a measure
of economic mobility. Opportunity
Fund says yes to people who have
never heard yes before. ”
Natasha, Co-founder of Coolhaus and
regional board member
C O L L E G E S AV E R
Jamie
Eric Weaver, Founder & CEO
Feliciano 'Chano' Zalava, owner of
Peninsula Party Rentals, pictured in the
middle with daughter Jasmine and
Opportunity Fund's loan consultant, Devin
S M A L L B U S I N ES S OW N E R
Maurice
Opportunity Fund is California’s leading microfinance nonprofit organization. Our microfinance programs are supported by donors from
the community whose contributions help to fund loans, provide savings accounts, and build stronger families and vibrant neighborhoods.
As California’s leading microfinance provider, our team has deployed $115 million and helped more than 12,000 entrepreneurs, students
and low-income families since 1994.
San Francisco • San Jose • Southern California
© 2016 Opportunity Fund. Design by Argus, LLC.
2015
ANNUAL REPORT
DONORS
The generosity of
our funders supports
families in California
who lack the resources—
but not the resolve—to
take charge of their
financial well-being.
Individuals
Opportunity
Fund has earned
Charity Navigator's
4-Star rating, the
highest possible for
accountability and
transparency.
Institutions
Opportunity Fund
partners with a myriad
of institutions to drive
economic mobility in
California’s low-income
communities through
innovative, high-impact
microfinance strategies.
Opportunity Fund is California’s leading microfinance nonprofit organization. Our microfinance programs are supported by donors from
the community whose contributions help to fund loans, provide savings accounts, and build stronger families and vibrant neighborhoods.
As California’s leading microfinance provider, our team has deployed $115 million and helped more than 12,000 entrepreneurs, students
and low-income families since 1994.
San Francisco • San Jose • Southern California
© 2016 Opportunity Fund. Design by Argus, LLC.
2015
ANNUAL REPORT
DONORS: INDIVIDUALS
"Opportunity Fund keeps finding new and innovative ways
to make a difference in the
lives of thousands of families.
They are not afraid to think
big."
Susan Ford Dorsey, President Sand
Hill Foundation
Last year, Sand Hill Foundation
pledged $750,000 to help Opportunity Fund expand our reach and
impact.
INDIVIDUAL GIFTS
MADE 07/01/2014 THRU
12/31/2015
$1,000,000 +
Mark and Debra Leslie Fund for Opportunity and the Leslie Family Foundation
$100,000 - $999,999
Greg and Anne Avis
Bud and Rebecca Colligan
Bill and Amy Gurley
$10,000 - $99,999
David and Joni Cropper
Jeff and Edita Donnelly
Michael Dorsey and Susan Ford Dorsey
Engel Family Fund
EWCY Foundation
Shelley Harrison
Carl Kawaja and Gwendolyn Holcombe
James and Cathy Koshland
David Krimm and Peter Bradley
The Lasky-Barajas Family Fund
Josh and Sara Leslie
Harrison Miller and Clare McCamy
John and Tashia Morgridge
Joe and Nancy Ragey
Tundra Glacier Fund
Gail Koshland Wachtel
$5,000 - $9,999
Brickyard Berridge Fund
Tammy and Bill Crown
Steve Dostart
Tom and Ellen Ehrlich
Kathryn Green Fund
Judy Heyboer
Rick Holmstrom and Kate Ridgway
Steven Kaufhold and Christine
Richardson
Michael and Michelle Kwatinetz
Ash McNeely and Elisa Odabashian
Nicholas E. Moore and Karen J.
Plessinger
Harry and Carol Saal
Scott and Jennifer Sandell
$1,000 - $4,999
Anonymous (1)
Duke Ackerman
Phyllis Ball
James Bandler and Rebecca Holcombe
Janet Stull Baumgartner Foundation
Cyrus and Katie Behroozi
Steve and Carolyn Bowsher
Thomas and Polly Bredt
George Brown
Frank and Diane Burkeen
Jerome and MD Buttrick
Charles and Paola Casey
Stanley and Julie Chin
Aaron Cooperband and Fumi Tanaka
Philip and Beverly Davis
Bill Desmond and Kathy McShane
Patricia Donnelly
Kenneth and Catherine Down
Peter and Elizabeth Dumanian
Roger Duke and Yolanda Ruiz
Norito Ebata
Andrew and Dana Eckert
Robert Friedman
Kelly Gaynor
The Ghali Family Fund
Robert and Wendy Gibney
Brian Graham and Torie Clarke
Nicklas and Dana Granoski
Katherine Grealish
Susan and Shawn Greene
Venessa Henlon
Peter and Bonnie Hero
Linda Hirao
Andrew Hirsch and Nina Brooks
Roger Johnson
Todd and Lil Johnson
Rich and Gina Kelley
Michael and Frances Kieschnick
Patricia Krackov
Rusmin Kudinar
Andrew Lee and Linda Min
Evelyn Lee
Songbae Lee
Lou Leporace
Seth and Sharon Leslie
Steve Levine and Jill Kyte
Benedic Robert Limso
David Low and Dominique Lahaussois
Scott Lucas
Dan Markovitz and Lynn Brody
Mike McBride and Lija Huston McBride
Shawn and Rachael McGowen
Sharon Meers
John Muller and Linda Walton
The Nachtsheim Family Foundation
Lex Nakashima
Nancy S. Olson
Martin and Beth O'Malley
Open Ocean Family Fund
Jeff and Elisabeth Ostrow
Christopher Paisley
Mitesh and Chetna Parikh
Mark and Diane Parnes
Jennifer Pence and Adam Feder
Mark Perry
Marc Rand and Scott Montgomery
Catherine Sanger and Brandon Yoder
Zain Saidin and Joanne Spetz
Jorge Salazar and Gina Diaz
Ursula Schorn
Brian Shally
Marc and Rowena Singer
Snelling Charitable Fund
Amanda Sparr and
Matthew Tamayo-Rios
Drew and Jodi Starbird
Stearns Charitable Trust
Stelluto and Dunaier Fund
Jennifer Still
Spencer Stratton
Brandon and Lisa Sweeney
Eric Swergold and Dawn Dobras
Jamie and Joe Wang
Eric Weaver and Sarah Jane Holcombe
Max Steven Jackson Weinreb
(Pro2Col415) Memorial Fund
Karin & Paul Wick
Denise Yamamoto and Josh Hannah
Yamate Family Charitable Fund
Dana Yarger
John Yee
Fritz and Susan Zimmer
Charles Zukow and John Ferrara
Debra Zumwalt
$100 - $999
Anonymous (10)
David Ai
Matt Apfel and Jackie Reses
Kevin Arndt
Karen Banducci
Deborah and Craig Barber
Jayne Battey
Rudy and Stephanie Batties
Laura Beaudrow
John Beck
Leslie Bee
Anne Blackman
Robin Blackstone and Judith Helder
Dan and Tessie Boado
Michael and Ruth Bondy
Jared Braiterman
Annette Brands
Michael Brennan
Frish Brandt
Kris and John Bria
Maeve Brown
Gary and Virginia Brown
Scott Callard and Shaolee Sen
Scott and Sally Camp
Lisa Caronna
Miguel Cerda
Angela Chan
Michael Chan
Anthony Chang and Wendy Wong
Charlene Chang
Charles Chew and Patricia Bossert
Michael Cheung
Nancy Chu
Anne Childs
Eleanor Clement-Glass
Stephen Combs
Matt Copeland
Dave and Mary Cocca
Milo Cummings and Bubbles Chau
Don and Barbara Curtis
Daniel Cox
Greg Davis
Dilan Desai
Lokelani Devone
Peter Elting and Martin Freas
Terry Erisman
John and Barbara Evers
Jeff Fassnacht
Arthur Fatum
Marlon Figueroa
Alan Fisher and Sharon Miller
Duane and JoAnne Forman
Katherine Foster
David Friedman
Mark and Gwyneth Galbraith
Donna Galgano
Joseph Galgano and Gail Hashimoto
Michael Gallagher and Ruth Shapiro
Gregory and Penny Gallo
Uday Ghulaxe
Ciro and Eileen Giammona
Erin Gilbert
John and Elizabeth Givens
Debbie Goeden
Robin Diane Goldstein
Steve Gomberg
Ronlyn-Ann Goo and Wen Eng
Matt Glickman and Susan Hwang
Tim Graczewski
David Greenberg
Blake and Katie Griffin
Jeff and Kate Harding
Catherine Hargrave
Richard and Mary Harper
Kevin and Jane Hart
Robert Hayes and Kathryn Dunlevie
Caitlin Heising
Donald Hejna
Nicole Heller
Noel Hirst
John Hogan
Parker Hudnut
Matthew and Diana Huerta
Stephen Huntington
Priya Huskins
Marianne Jackson
Pete and Pam Janssen
Arthur and Nicole Johnson
M Jean Johnston and Katherine Morris
Christopher and Victoria Joseph
Dan Jurafsky and Janet Yu
Jan Kang
Suzanne Kawahara
Riley Kelley
Seamas and Catherine Kelliher
Pam and Bill Klaus
Debra Knoteck
Douglas Koshland
Larry Kuechler
Natasha Kurtova
Jenny Lam
Shawn Lampron
Peter Landes
Sterling and Linda Lanier
Gustavo Lasala and Caroline Cranwell
Luther Lau
Joe and Carole LaTorre
Susan Leal
Fredrick Lee
Vivienne Lee
Nicole Letellier
Steven Levere and Patrica Plumer
Tina L
Roberta London
Julie Lubetkin
Connie and Bob Lurie Foundation
Sarah Marth
David Mares
Mona Masri
George Mazzotta
Derick McGee
John McKinney
George McNeely
Myra Melford
Lorena Mendez-Quezada
Jeff Merkowitz and Molly Savitz
Marne Michaels
Arpad Molnar and Maya Chorengel
Cathy Crane Moley
Rafael Morales and
Sarah Manley Morales
Scott and Molly Morse
Katarzyna Nowak
David Okazaki
William Ortiz-Cartagena
Scott Osborne and Janine Gardner
Mark Pahlavan
Sami Paihonen
Hannah Park
Jaana Parkkinen
Anthony and Prachi Parvin
Mark Patel and Sruti Nadimpalli
Dorothy Pett
Helen Pearlman
Paige Phinney
Roman Polnar
Neal and Andrea Potischman
Binita Pradhan
Charu Puri
Lou and Sally Reilly
Timothy Reilly
Craig Robinson
Patricia Rodriguez
Myra Rothfeld
Lourdes Ruiz
Jane Rush
Tejas and Ranita Saraiya
Colin Savage
Julie Schatz
Sharon Segev
Kathryn Shade
Kinjal Shah
Kathie Sheehy
Diane Shields
Patrick Sinclair
Amy Skeeters-Behrens
Jessica Potter Slider
Ellen Snook
Jenn Sockolov
Jake Sokol
Mark and Wendy Sommer
Michelle Sparrow
Brynne Speizer
Linda Speizer
Terry Speizer and Claudia Speizer
Joe and Christine Stafford
Freda Statom
Zack Stein
Art Stevens
Andrew Stewart
Judith and William Storey
Marjorie Szto
Lee and Norelle Tavrow
Charlotte Tay
Haam Tham
Veronica Tincher
Elizabeth Tito
Hsu-Lin Tong
Thomas Toy
My Tran
Elizabeth Ü
Naomi and Bruce Usher
Frederick Van Den Abbeel and Shanna
McClearn
Arnold Ventura
Yojna Verma
Sonia Wadhawan
Nicholas Wagner
Scot Wagner and Caitlin McShane
Peter Watkins and Karen Moore
Sean and Lopa Wani
Jessica Weare
Jeff Wells
Christopher Wenisch
Abby Wilder
Tim Wirth and Anne Stuhldreher
Walter Wood and
Gayla Lorthridge Wood
Brian Wong
Catherine Wright
William and Jennifer Youstra
James Yen
Randy Zimmer
Alan Zisser
Alexis Zhu
Steven Zuckerman and Debra Meyerson
Kevin Zwick
Up to $99
Anonymous (5)
Daphne Adam
John Affourtit
John Asdourian
Claire Axelrad
Lola Bernabe
Anna Bernstein
Tor Fredrik Bjerke
Blair Blackwell
Gwendy Donaker Brown
Louis Caditz-Peck
Alan Cantor
Chengwei Chen
Victoria Cheng
Leslie Chu
Tyler Coats
Erik and Kristin Cushman
Natalie DeNault
Elizabeth Densmore
Matt Dibenedetti
Sabrina Dominguez
Lauren Dupont
Celia Bird Farlie
Thalia Farshchian
Patricia Fashing
Allison Fletcher
Richard Fletcher
Patricia Foster
Louise Funke
Matt and Vanessa Ginzton
Manuel Godino
Audrey Gordon
Lindsay Greene
Holly Grochmal
Cort Gross
Jeremy and Kelly Hardesty
Amy Harris
Ruth Hawley
Liz Holland
Patrice Ignelzi
Lauren Jansen
Jerrell Johnson
Brian Lagrotteria
Jenny Lai
Adam Lang
Maegan Lillis
May Lim
Nathan and Lauren Lyon
Jon Jimenez Macuso
Alex McDonald
Libby Morris
Mark Muenchow
Shauna Nep
Stuart Newton
Charlotte Niel
Eli Nir
Jennifer Ong
Karin Orsic
Jay Patel
David and Alice Patrick
Cecil Plummer
Jonny and Ali Price
Asha Rao
Caitlin Reardon
Jed Riffe and Tina Ferguson-Riffe
Karin Rohlfs
Carmen Saldana
Jessica Scadron
Elisa Schreiber
Ami Pascual Spear
Margaret Storey
Cathy Tendler-Valencia
Chris and Ginny Terndrup
Lance Tomasu
Tim Torgenrud
Yusuke Wada
June Weintraub
Herman White
Johannes Wong
Xin Xin
Geno and Lyndsey Zawrotny
Bradley Zeve
Summer Zhao
Omar Zuniga
Sustaining Donors
Anonymous (2)
Charles Chew and Patricia Bossert
Stephen Huntington
Adam Lang
George McNeely
John Muller and Linda Walton
Board of Directors
Susan Harper Greene
Greg Avis
Gina Diaz
Amy Gurley
Shelley Harrison
Arthur Johnson
Steven Kaufhold
Jim Koshland
Sara Gaviser Leslie
Yolanda Ruiz
Leadership Council
Bud Colligan
Susan Ford Dorsey
Debra Engel
Mark Leslie
Harrison Miller
John A. Sobrato
Southern California Regional Board
Natasha Case
David Greco
Parker Hudnut
Ranie Lambe
Vivienne Lee
Shauna Nep
Sylia Obagi
Tara Roth
Patrick Sinclair
Arnulfo Ventura
Opportunity Fund is California’s leading microfinance nonprofit organization. Our microfinance programs are supported by donors from
the community whose contributions help to fund loans, provide savings accounts, and build stronger families and vibrant neighborhoods.
As California’s leading microfinance provider, our team has deployed $115 million and helped more than 12,000 entrepreneurs, students
and low-income families since 1994.
San Francisco • San Jose • Southern California
© 2016 Opportunity Fund. Design by Argus, LLC.
2015
ANNUAL REPORT
DONORS: INSTITUTIONS
"Google selected
Opportunity Fund as a Bay
Area Impact Challenge
finalist because their
innovative approach to
small business lending is
making our community a
better place to live."
Kate Parker,
Google.org
INSTITUTIONAL GIFTS
MADE 07/01/2014 THRU
12/31/2015
$3,000,000 +
Mark and Debra Leslie Fund for
Opportunity and the Leslie Family
Foundation
US Department of Treasury, CDFI Fund
$1,000,000 +
US Department of Health and Human
Services
$500,000 - $999,999
Sam’s Club Giving Program
Sand Hill Foundation
Sobrato Family Foundation
$100,000 - $499,999
Bank of America
Tory Burch Foundation
Chevron Corporation
Citi
The Goldman Sachs Foundation
Google
Walter & Elise Haas Fund
JPMorgan Chase
W. K. Kellogg Foundation
The Marcled Foundation
Microsoft
The David and Lucile Packard
Foundation
Small Business Administration
Y & H Soda Foundation
United Way Silicon Valley
Weingart Foundation
Wells Fargo Foundation
Wells Fargo NEXT Award for
Opportunity Finance
The Women's Foundation of California
$50,000 - $99,999
The Annenberg Foundation
BBVA Compass
City and County of San Francisco
The Hearst Foundation
Heising-Simons Foundation
Franklin and Catherine Johnson
Foundation
Samuel Adams Brewing the American
Dream Program
The San Francisco Foundation
Silicon Valley Community Foundation
$10,000 - $49,999
Bank of the West
Capital One
Cathay Bank
CFED
Charles Schwab Bank
Cisco Systems Foundation
Comerica Bank
The Economic Justice Fund of the Tides
Foundation
Federal Home Loan Bank of San
Francisco
First Republic Bank
Ken and Gundy DuVall Fund and the
Doolittle Fund of the Community
Foundation for Monterey County
eBay Foundation
James Irvine Foundation
Nichols Foundation
Pacific Western Bank
Pacific Gas and Electric Company
Santa Cruz Community Foundation
Silicon Valley Bank
Union Bank of California
U.S. Bank
Up to $9,999
A2Q2
Aspen Institute
Beneficial State Bank
Benevity Community Impact Fund
Boston Private Bank and Trust
CAMEO
Capital Source Bank
Clearinghouse CDFI
Community Foundation for Monterey
County
Facebook Local Community Fund
Goldhirsh Foundation
Heffernan Foundation
Heritage Bank of Commerce
Husch Blackwell LLP
IBM Charitable Contribution Giving
Ixonos USA
Kaufhold Gaskin LLP
King & Spalding LLP
Launch Pad, Inc.
Manufacturers Bank
McKesson Foundation
Qualcomm Inc.
Salesforce.com Foundation
Skoll Foundation
St Martin of Tours Catholic Church
The Stocker Foundation
United Way Bay Area
Opportunity Fund is California’s leading microfinance nonprofit organization. Our microfinance programs are supported by donors from
the community whose contributions help to fund loans, provide savings accounts, and build stronger families and vibrant neighborhoods.
As California’s leading microfinance provider, our team has deployed $115 million and helped more than 12,000 entrepreneurs, students
and low-income families since 1994.
San Francisco • San Jose • Southern California
© 2016 Opportunity Fund. Design by Argus, LLC.
2015
ANNUAL REPORT
FINANCIALS
INVESTORS
Thank you to our
investors who provide
the capital we use to
make small business
loans to entrepreneurs.
Banc of California
Bank of America
Bank of the West
BBVA Compass
Bridge Bank
California Community Foundation
Calvert Foundation
Capital Impact Partners
Capital One
Charles Schwab Bank
City National Bank
Community Foundation Santa Cruz
County
Deutsche Bank
East West Bank
Everence Fund
First Bank
First Republic Bank
Goldman Sachs
Heritage Bank of Commerce
Manufacturers Bank
Northern Trust
Opportunity Finance Network
Pacific Western Bank
San Francisco Foundation
Silicon Valley Bank
Umpqua Bank
Union Bank
U.S. Bank
U.S. Small Business Administration
U.S. Treasury Department
Wells Fargo
W.K. Kellogg Foundation
FY 2015
FY 2014
Cash
5,635,126
2,780,163
Investments
1,148,157
1,154,780
Restricted Cash
8,665,161
9,824,283
Current Loans & Other Receiveables
13,654,777
10,936,298
Long Term Loans & Other Receiveables
21,591,430
14,022,849
Total Assets
$ 50,694,651
A S SET S
$
38,718,373
LIABILITIES AND NET ASSETS
Current Liabilities
3,166,136
4,086,195
Long Term Liabilities
26,132,105
18,746,672
Net Assets
21,396,410
15,885,506
Total Liabilities and Net Assets
$ 50,694,651
Solid financial health year after year
$
38,718,373
CONDENSED STATEMENT OF ACTIVITIES
R E V E N U ES
Contributed Revenue
9,696,731
7,197,002
Earned Revenue
6,943,273
5,158,385
Interest on Cash and Investments
35,927
32,924
Total Revenues
$ 16,675,931
Earned revenue helps cover our costs
$
12,388,311
E X P E N S ES
Programs Expenses
8,857,169
7,518,651
Non-program Expenses
2,307,858
1,966,260
Total Expenses
$
11,165,027
Increase in Net Assets
5,510,904
$
9,484,911
2,903,400
Download our full 2015 Audited Financial Statements
Opportunity Fund is California’s leading microfinance nonprofit organization. Our microfinance programs are supported by donors from
the community whose contributions help to fund loans, provide savings accounts, and build stronger families and vibrant neighborhoods.
As California’s leading microfinance provider, our team has deployed $115 million and helped more than 12,000 entrepreneurs, students
and low-income families since 1994.
San Francisco • San Jose • Southern California
© 2016 Opportunity Fund. Design by Argus, LLC.
2015
ANNUAL REPORT
2014 EARNED INCOME: SOCIAL ENTERPRISE
In addition to our
microfinance work,
Opportunity Fund also
provides financing for
community real estate
projects using New
Markets Tax Credits.
Economic stability starts in
neighborhoods. Our real
estate investments help
create safe and vibrant
communities.
Ravenswood
Family Health
Center
East Palo Alto, CA
Opened May 5, 2015
38,300 Sq. ft. with 2 floors
Integrated primary care, mental health
and dental services
Ravenswood Family Health Center
is dedicated to improving the health
of the community by providing
integrated primary and preventative
health care to all. Opportunity Fund
is proud to have helped make this
important community project happen
by facilitating almost $20 million
in financing—more than half of the
project's total cost.
This new health center has the capacity
to serve 22,000 community residents,
the vast majority of whom live at 100%
or less of the Federal Poverty Level,
which is $22,350 for a family of four.
The facility offers on-site pharmacy,
optometry, mammography, and
radiology services to the community
for the first time ever. Designed to
improve the patient experience,
the facility brings multiple services
together under one roof and provides
more space for patient care including
58 primary care exam rooms and 13
behavioral health counseling rooms. It
is also built with "green" features, such
as motion-activated lights and water
faucets, and solar panels on the roof.
"All the things that people
need to support their health at
a primary-care level should be
available in the community,
should be accessible, should
be affordable and should
be offered in a setting that
people are drawn to,"
Executive Director, Luisa
Buada, said.
GIVE THE GIFT OF
OPPORTUNITY
Opportunity Fund is committed to
strengthening communities by investing
in critical infrastructure projects, like
the Ravenswood facility. While we are
best known for our MICRO finance
programs, we also make MACRO
investments to help California’s
working families build a brighter
future.
Opportunity Fund is California’s leading microfinance nonprofit organization. Our microfinance programs are supported by donors from
the community whose contributions help to fund loans, provide savings accounts, and build stronger families and vibrant neighborhoods.
As California’s leading microfinance provider, our team has deployed $115 million and helped more than 12,000 entrepreneurs, students
and low-income families since 1994.
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© 2015 Opportunity Fund. Design by Argus, LLC.