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Nonprofiteer
← OPPORTUNITIES INDUSTRIALIZATION CENTER INC

Form 990 for tax year 2023

Filed by OPPORTUNITIES INDUSTRIALIZATION CENTER INC.

Totals

Total revenue
$4,643,930
Total expenses
$4,758,025
Contributions and grants received
$416,541
Grants paid
$0
Program service revenue
$3,188,383
Investment income
$2,538
Other revenue
$1,036,468
Total assets, end of year
$2,502,768
Total liabilities, end of year
$1,309,601
Net assets or fund balances, end of year
$1,193,167
Program services expenses (Part IX)
$2,618,564
Management and general expenses
$1,830,802
Fundraising expenses
$308,659
Program service expenses (Part III)
$2,618,564

Program services were 55.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $416,541

  • 2a · Program service revenue: PROGRAM INCOME - CONTRACTS

    total $3,188,383 · related or exempt $3,188,383

  • 3 · Investment income

    total $2,538 · related or exempt $2,538

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6a · Gross rents

    real property $721,401

  • 6c · Rental income or loss

    real property $721,401 · personal property $0

  • 6d · Net rental income or loss

    total $721,401

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: OTHER INCOME

    total $315,067 · related or exempt $315,067

  • 11e · Other revenue, total

    $315,067

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $1,697,936 · program services $1,067,386 · management and general $537,788 · fundraising $92,762

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $60,995 · fundraising $60,995

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $1,232,000 · program services $612,970 · management and general $619,030

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $90,614 · program services $39,902 · management and general $48,954 · fundraising $1,758

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $223,587 · program services $101,183 · management and general $122,404

  • 17 · Travel

    total $27,352 · program services $11,204 · management and general $15,154 · fundraising $994

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $56,612 · management and general $56,612

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $191,618 · program services $32,785 · management and general $158,833

  • 23 · Insurance

    total $94,137 · management and general $94,137

  • 24a · Other expenses: COMMUNICATIONS

    total $32,399 · program services $3,275 · management and general $29,124

  • 24b · Other expenses: REPAIRS & MAINTENANCE

    total $96,406 · program services $4,741 · management and general $91,665

  • 24c · Other expenses: OTHER EXPENSES

    total $203,355 · program services $13,527 · management and general $38,357 · fundraising $151,471

  • 24d · Other expenses: SALES TAX

    total $0

  • 24e · All other expenses

    total $751,014 · program services $731,591 · management and general $18,744 · fundraising $679

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $305,627 · end of year $270,583

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $941,027 · end of year $878,356

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $71,049 · end of year $80,590

  • 10a · Land, buildings and equipment: cost or other basis

    $7,772,645

  • 10b · Land, buildings and equipment: accumulated depreciation

    $6,505,799

  • 10c · Land, buildings and equipment, net

    beginning of year $1,419,842 · end of year $1,266,846

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $11,440 · end of year $6,393

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $692,365 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $449,648 · end of year $418,576

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $243 · end of year $150,821

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $396,843 · end of year $396,843

  • 24 · Unsecured notes and loans payable

    beginning of year $282,654 · end of year $190,252

  • 25 · Other liabilities

    beginning of year $151,304 · end of year $153,109

  • 27 · Net assets without donor restrictions

    beginning of year $806,917 · end of year $1,591,087

  • 28 · Net assets with donor restrictions

    beginning of year $48,334 · end of year $372,132

Mission and programs · 2023

Mission

THE ORGANIZATION'S MISSION IS TO ELIMINATE UNEMPLOYMENT, UNDEREMPLOYMENT AND ILLITERACY TO ENSURE A MEANINGFUL QUALITY OF LIFE FOR FAMILIES.

  • WORKFORCE DEVELOPMENT CONSISTS OF THE FOLLOWING PROGRAM AREAS: (1) BANKWORK$ - A FREE VOCATIONAL TRAINING PROGRAM THAT TRAINS INNER-CITY ADULTS WITH THE HARD AND SOFT SKILLS NEEDED TO START A CAREER IN BANKING. (2) ENERGY JOB TRAINING - PECO SMART ENERGY PROGRAM OFFERS CUSTOMIZED JOB TRAINING AND PLACEMENT SERVICES FOR THOSE INTERESTED IN ENERGY-ORIENTED CAREERS. (3) HOSPITALITY JOB TRAINING - PROVIDES PEOPLE OF ALL SKILL LEVELS WITH THE BACKGROUND AND EXPERIENCE NEEDED TO START CAREERS IN THE FOOD AND HOTEL INDUSTRIES. (4) RE-ENTRY PROGRAM - OFFERS SERVICES CATERED TO ADULTS OVER 18 YEARS OLD WHO HAVE HAD CONTACT WITH THE JUSTICE SYSTEM AND RESIDE IN DESIGNATED HIGH POVERTY, HIGH-CRIME COMMUNITIES IN THE PHILADELPHIA AREA. (5) DRONE PROGRAM - OFFERS A SIX-WEEK TRAINING PROGRAM THAT PREPARES INDIVIDUALS TO SIT FOR THE FEDERAL AVIATION ADMINISTRATION (FAA) PART 107 CERTIFICATION EXAM. EDUCATION PROGRAMS CONSIST OF THE FOLLOWING: (1) WORKFORCE ACADEMY - A TUITION-FREE ACCELERATED HIGH SCHOOL COLLEGE AND CAREER READINESS PROGRAM. (2) TECHNOLOGY POWER SKILLS CENTER - OFFERS COMPUTER LITERACY CLASSES SPONSORED BY COMCAST INTERNET ESSENTIALS. (3) HISET TRAINING - GED EQUIVALENCY PROGRAM

    Expenses $2,618,564

As filed on the 2023 return.

Listed in Part VII

  • Keita Atif Bostic

    CHAIR

    Total calculated
    $0
    Hours/week
    0

  • Lawrence Williams II

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Shamyune Jones

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Jennifer Macgilvray

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mable Ellis Welborn

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Judge Stephanie Sawyer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Vince Gordon

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ade Lawal

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Michael Soileau

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ronald Howard

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Steven Bradley

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Javier Suarez

    1ST VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Ali Jaffar

    2ND VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Sharana Worsley

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Sheila Ireland

    CEO

    Total calculated
    $0
    Hours/week
    0

  • Frank Tait

    TREASURER

    Total calculated
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • PROGRESSIVE VENTURES INC

    C CORP · REAL ESTATE · PA

Provenance

Return type
form_990
Tax year
2023
Filed
23 October 2024
IRS schema version
2023v6.0
Source object
202521359349312867

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