Iguanas Burritozilla, San Jose, CA
Driving economic mobility has never been more important or more rewarding
Luz Urrutia Chief Executive Officer
Dear Friends,
My first year leading Opportunity Fund was a humbling and exciting journey. We helped drive economic mobility by ensuring that opportunity remains open to those with the determination, but not the resources, to succeed. My thanks go out to you – an inspiring community of clients, donors, investors, Board members, Leadership Council, Advisory Council, and staff. In a time of uncertainty and polarization, it is beyond inspirational to see all of us come together for our communities.
This year, we invested $138 million in underserved entrepreneurs and low-income communities, and our work provided new opportunities to over 400,000 people. With a growing circle of donors and investors, our resolve to tackle widening income inequality is unshaken; indeed, it is stronger than ever.
With our deepest gratitude,
Luz Urrutia
California
Florida
Georgia
Illinois
Michigan
Nevada
New Jersey
New York
North Carolina
Ohio
Oregon
Pennsylvania
Texas
Washington
I look forward to continuing my support of such a wonderful organization. We can do good that creates exponential returns.
Charles Schwab Bank is proud to partner with Opportunity Fund to invest in the dreams of small business owners and extend their reach to provide financing for underserved entrepreneurs in Nevada.
Calvert Impact Capital is proud to lend to Opportunity Fund. Their work aligns with our mission to create a more equitable and sustainable world.
Up to $99
Aaron Sanchez
Abraham Kuo
Alexandra Pedersen
Allan Alexander
Amanda Byrd
Amparo Rincon
Ana Glenn and Gary Glenn
Anna Esquibel
Annemarie Gerace
Anonymous (14)
Brenna Crosby
Brett Anderson
Brigitte Shearer
Bryan Eck
Carolyn Shields
Casey Montalvo
Charlie Wyman
Christina Bechtold
Christopher Dyson
Clarissa Franchi
Claudia Sangster
Dan and Tessie Boado
Dan Kolkowitz and Leah Frei
Dan Kovach
Daniel Jaworsky
Dara Richman
Darrah Shields
Dave Hamburg
David and Tatyana White
Debbie Hoffman
Debbie Wolter and Stanley Baginskis
Denecia Jones
Derick McGee
Diane Desmond
Elena Long
Eliza Fisher
Elizabeth Densmore
Ellen French
Emily Coldiron
Emily McLanahan and Justin Lee
Francisco Alvarez
Geoff Rogers
Gwyneth and Mark Galbraith
Halina Avery
Ingrid Hillebrand
Jacqueline Heinrich
Jayde Dellomes
Jean Hand
Jean Wilson
Jed and Tina Riffe
Jeremy and Kelly Hardesty
Jessenia Francisco
Jessica Rosales
Joan Herman
Joanne Peterson
Joe Ginsberg
John Ostrander
Johnny Garcia
Juan Aquino
Juarez de Medeiros
Judy Kim
Julia Fischer
June Weintraub
Justin and Marta Buchanan
Kaci Patterson
Katherine Bonalos
Ken Rutsky
Kristen Edwards
Krzysztof Gocal
Lance Matthiesen
Laura Ferretti
Laura Placencia
Lauren L Kay
Laury Melara
Lee Werbel
Linda Ba
Lindsay Thomas
Lisa Reyes
Louis and Sarah Reilly
Louise Funke
Marcus Castain
Mariko Lochridge
Marisa Sinboonyok
Marsha Bonner
Martin Donez and Wendy Hansen
Martin Enriquez
Melissa Mae Cruz
Merla Salongcong
Michael Kaplan
Michael Pollack
Michael Weaver
Michal David
Michele Schultz
Michelle Greenwood
Michelle Stiffmann
Miguel Garcia
Mike Grinnell
Molly Anderson
Naasira Lewis
Nicole Tilley
Patick Scheper
Paul Meurer
Piper Kamins
Rachel Braun Scherl
Rebecca Margiotta
Reid Gaa
Rexie Dumagan
Rhonda Ragab
Riaz Latifullah
Roberta Shintani
Roni Yu
Rose Contreras
Sarah Mahin
Shanna Mcclearn
Shauna Nep
Shelley Meek
Steven Roesch
Susan Cannon
Suzanne Azpeitia
Sydney Reiner
Tamara Lomas
Taylor Wirfs
Teo Alfero
Tim Miller
Toru Tanaka
Trevor Hall
Tristan Adams
Vera de Vera
Victoria Thurlow
Virginia Foxworth
$100 to $999
Aaron Cooperband and Fumi Tanaka
Adam Smith
Aj Agarwal
Ajay Gupta
Alan Pardee
Alberto Villaluna
Albro and Cathi Lundy
Alejandra Garcia
Alexandra Zaniewski Silveira
Alexis Zhu
Alice and Constance and George
Alice and David Patrick
Amy Arnold
Andre and Shirley Navarro
Andrew Hudnut
Andy and Holly Cohen
Anne Childs
Anne Rimer
Anne Stuhldreher and Tim Wirth
Anonymous (10)
Arpad Molnar and Maya Chorengel
Ashley and Ron Gonen
Barrie Seidenberg
Beni Strebel and Kathy Klausner
Benjamin King
Betina and Scott Koski
Bettina Cisneros
Blake and Katie Griffin
Bob Hagenau
Brandon and Lisa Sweeney
Brian Matthiesen
Brian Shally
Brynne Speizer
Buff and Cynthia Miller
Carole and Joe LaTorre
Carrie Hidding
Catherine Marshall
Chad and Megan Bettor
Charlie and Jack Evanilla
Chesca Colloredo-Mansfeld
Christina Sunley
Christine Brakman
Christine Sheckler
Christopher Huang
Ciro and Eileen Giammona
Craig and Emanuel Robinson
Cynthia Dai
Cyrus and Katie Behroozi
Dan Jurafsky and Janet Yu
Daniel Cox
Danielle Conkling
Dave Witherow
David Greco
David Kietzman
David Leeb and Linda Goldman
David Mares
Deborah and Michael Harrison
Debra Meyerson and Steven Zuckerman
Denise Deering
Dessa Bokides
Diane Shields
Dianne and Ron Hoge
Don Hejna
Douglas Keare Jr. and Jill Morgan
DuVon Davis
Elizabeth and John Givens
Elizabeth and Peter Dumanian
Ellen Seidman
Emily Bradley
Estefania Palacio
Evelyn Huang and Noah Degaetano
Fiona Hsu
Frederick Li
Frederick Van Den Abbeel and Shanna McClearn
Freya Estreller and Natasha Case
Galina Sokolov
Garrett Herbert
Gary and Virginia Brown
Gary Polk
George Bryson
George McNeely
Helen Pearlman
Hogan Lee
Iosefa and Melissa Alofaituli
Jacob Haar
Jacob Martinez
Jagjot Singh
James and Mary Weaver
James McCann
Jane Rush
Janice Miyatake
Janine Gardner and Scott Osborne
Jared Braiterman
Jason Kim
Javier Silva
Jennifer Tescher
Jenny and Juan Vargas
Jerome and MD Buttrick
Jessica Sweedler
Joanne Spetz and Zain Saidin
Joel Risner
John Arensmeyer
John Hobson
Karen Vandenberg
Kathryn Dunlevie Hayes and Robert Hayes
Kathryn Morris and Marilyn Jean Johnston
Katie Fong
Kenneth Yzurdiaga
Kevin Zwick
Kieran and Monica Healy
Kiki Tidwell
Kim Le
Kirsten Ludwig
Kody Bartz
Kurt Chilcott
Laurel Mintz
Lee Lucca
Leigh Phillips
Liliana Monge
Lillian Samuel
Linda Nguyen
Lisa Caronna
Lisa Cleri and Christopher Reale
Logic Technology Consulting Group
Lorene Chandler
Louis Caditz-Peck
Luis Rodriguez
Lynn Adler
Marc Rand
Marc Rand and Scott Montgomery
Marco Lucioni
Mariela Aleman
Mark and Diane Parnes
Mark Herbert
Mark Wan
Marta Ferro
Martin Sargeant
Mary Connolly
Mary Dent and Allen Weiner
Mary Widdows
Mary-Elizabeth Michaels
Melissa Martin
Michael Galhouse
Michael Rapaport
Mike Freedman and Rebecca Goldsmith-Freedman
Mindy Karro
Naomi and Bruce Usher
Natasha Kurtova and Tom French
Nathan and Lauren Lyon
Nicholas Pianim
Nicholas Wagner
Noel and Teresa Hirst
Pam and Bill Klaus
Pam and Peter Landes
Parker Hudnut
Patricia Cohen
Patricia Foster
Patricia Krackov
Pedro Moura
Peter Lynn
Pilar Diaz
Rachel Paris
Richard and Mary Harper
Richard Fletcher
Richard Grow
Rick Ostiller
Robert and Wendy Gibney
Robert Egger
Roxane Marenberg
Sahra Halpern
Sally Lew
Sara Goldhaber-Fiebert
Sarah Daniels
Sarah Livnat
Scott Lerch
Shakeel Syed
Sharon Stratton
Shawn and Susan Harper
Sheila Bonini
Steve Meyer
Susan Leal and Susan Hirsch
Suzanne Joyal
Sylia Obagi
Tara Roth
Theresa Nelson
Timothy Hatfield
Tom Holmstrom
Ulrike Zugelder
Veronica Tincher
Vivian Dinh
Vivienne Lee
Wallace Mersereau
William Bass
William Ortiz-Cartagena
$1,000 to $4,999
Amy and Glenn Kacher
Anne Howell
Annie Berlin and Frank Priscaro
AnnMarie Zimmermann
Anonymous
Barbro and Mike Moran
Beth and Martin O’Malley
Bill “Milo” Cummings and Margaret “Bubbles” Chau
Brynne A. and David Staley
Cabot Brown
Cherie Fuzzell
Christine and Joe Stafford
Christopher and Liz Lynch
Clay and Janice Jackson and Family
Daniel Markovitz and Lynn Brody
Darrin Martin
Dave and Mary Cocca
David Krimm and Peter Bradley
David Levitt
David Low and Dominique Lahaussois
Dawn Dobras and Eric Swergold
Debbie and Kevin Taweel
Debra Zumwalt
Denise Yamamoto and Josh Hannah
Diane Helfrey
Donna O’Connell
Ellen and Tom Ehrlich
Eric Weaver and Sarah Jane Holcombe
Gennette Lawrence
Gina and Rich Kelley
Gina Diaz and Jorge Salazar
Gina Harman
Gregory and Penny Gallo
Hans Peter Maassen
James Bandler and Rebecca Holcombe
Jami and Stephen Nachtsheim
Jeff Merkowitz and Molly Savitz
Jennifer and William Youstra
Jennifer Pence
John Yee
Judith Grant
Judy Heyboer
Julie and Stanley Chin
Kathy and Tom Chou
Kathy Rowden
Laura Kvalheim
Layton Family Fund
Lex Nakashima
Lil and Todd Johnson
Lydia and Thomas Moran
Mark Pizzato
Maurice Clark Werdegar
Michael Sullivan
Michelle Kwatinetz
Norelle and Lee Tavrow
Pacific West CDC
Patrick and Tammy Geary
Robert and Connie Lurie
Robert Friedman
Roger Duke and Yolanda Ruiz
Roxann Burns
Stearns Charitable Trust
Susan Ehrlich
The Bordeaux Charitable Fund
Ursula Schorn
William Thorndike
$5,000 to $9,999
Ash McNeely and Elisa Odabashian
Brandon Yoder and Catherine Sanger
Brickyard Berridge Fund
Carolyn and Steve Bowsher
Cathy and Jim Koshland
Dana Eckert and Andrew Eckert
David Friedman and Paulette Meyer
Josh and Sara Leslie
Seth and Sharon Leslie
Susan Klarich and Lee Klarich
$10,000 to $24,999
Bill and Tammy Crown
Jennifer Ayer Sandell
Mary Hynes and Marc Tessier-Lavigne
Philip and Keven Madvig
Phlyssa Koshland
Todd Baker
Tom and Wende Hutton
Gail Koshland Wachtel
Joseph and Nancy Ragey
Scott Sandell
Chuck and Susan Hawley
Mark and Debra Leslie
Bud and Rebecca Colligan
Douglas and Mary Koshland
$25,000 to $49,999
Clare McCamy and Harrison Miller
Engel Family Fund
Brian Graham and Torie Clarke
Luz Urrutia
Shelley Harrison
Heising Simons Fund
Yun-Fang Juan
$50,000 +
David and Joni Cropper
Anonymous (2)
Anne and Greg Avis
Opportunity Funders
Alma Elizondo-Bailey
Charles Chew and Patricia Bossert
Judy Gascoyne
Laura Singer
$750,000+
CDFI Fund, US Treasury
Sand Hill Foundation
Sobrato Family Foundation
Microsoft Corporation
Leslie Family Foundation
$100,000 – $749,999
Anonymous
Bank of America
The California Endowment
Central Valley Community Foundation
Economic Justice Fund of the Tides Foundation
Google
Heising-Simons Foundation
Jewish Community Foundation Los Angeles
JPMorgan Chase
W. K. Kellogg Foundation
MasterCard
Y & H Soda Foundation
Weingart Foundation
Wells Fargo
Wilson Sonsini Goodrich & Rosati
Wurwand Foundation
$50,000 – $99,999
California Community Foundation
Capital One
Charles Schwab Inc.
CIT One West Bank
City National Bank
The Giving Code Fund at the Los Altos Community Foundation
Goldhirsh Foundation
Walter & Elise Haas Fund
Franklin and Catherine Johnson Foundation
MUFG Union Bank
Ralph M. Parsons Foundation
Silicon Valley Bank
$10,000 – $49,999
Bank of Hope
Bank of the West
BBVA Compass
BBVA Compass
Beneficial State Bank
Capital One
Cathay Bank
Charles Schwab Inc.
Community Foundation for Monterey County
Community Foundation Santa Cruz County
eBay Foundation
HSBC
James Irvine Foundation
Opus Bank
Pacific Life Foundation
Pacific Premier Bank
Philanthropic Ventures Foundation
Rabobank N.A.
U.S. Bank
Up to $9,999
Amazon Smile
Annenberg Foundation
Benevity Community Impact Fund
Boston Private Bank
Chevron Corporation
Comerica Bank
CTBC Bank
First Commercial Bank (USA)
Good Street
Heritage Bank of Commerce
Johnny Carson Foundation
Manufacturers Bank
Oracle
Robert and Bess Cook Foundation
Social and Environmental Entrepreneurs, Inc.
Social Sector Partners
Social Venture Partners Los Angeles
Synchrony Financial
The Stocker Foundation
United Way of Greater Los Angeles
Whitehill Family Foundation
John A. Sobrato
Anne and Greg Avis
Rebecca and Bud Colligan
Amy and Bill Gurley
Clare McCamy and Harrison Miller
EWCY Foundation
Trillium Asset Management
Banc of California
Bank of America
BBVA Compass
California Community Foundation
Calvert Impact Capital
Capital Impact Partners
Capital One
Charles Schwab Bank
City National Bank
Community Foundation Santa Cruz County
Deutsche Bank
East West Bank
First Republic Bank
Goldman Sachs
Heritage Bank of Commerce
HSBC
Manufacturers Bank
Mechanics Bank
Opportunity Finance Network
Pacific Western Bank
San Francisco Foundation
Silicon Valley Bank
State Bank of India (California)
The California Endowment
U.S. Bank
U.S. Small Business Administration
U.S. Treasury Department
Umpqua Bank
Union Bank
W.K. Kellogg Foundation
Wells Fargo Bank
Western Alliance Bank
Not everyone has an equal chance to build a business; not every community gets the investment it deserves. I support Opportunity Fund because it gives people access to the capital they need to build better lives and reduce wealth inequality.
Opportunity Fund demonstrates that responsible and fair-minded microfinance organizations can provide reasonable rates of return while providing dollars and advice to underserved communities.
Opportunity Fund enables the American Dream by providing equal opportunity to achieve success through hard work and determination. As the son of immigrants this ethic runs personally deep and the work of Opportunity Fund re-enforces everything that I believe is possible in America.
Greg Avis
Board Chair
Managing Partner
Bangtail Partners
Todd Baker
Managing Principal
Broadmoor Consulting, LLC
Joni Cropper
Founder
Juarez Children’s Education Program
Dickson Chu
EVP, Global Head of Portfolio Management
BBVA
Gina Diaz
Corporate Counsel
Oracle
Debra Engel
Engel Family Fund
Brian Graham
CEO
Alliance Partners
Parker Hudnut
CEO
ICEF Public Schools
Arthur Johnson
VP Corporate Development & Strategic Planning
Pure Storage
Yun-Fang Juan
Technical Consultant
Chan Zuckerberg Initiative
Jim Koshland
Partner
DLA Piper
Sara Leslie
Founder
In Other Words
Luz Urrutia
CEO
Opportunity Fund
Eric Weaver
Senior Advisor
Opportunity Fund
Thank you to departing Board of Directors members Amy Gurley and Shelley Harrison. Amy joined our Leadership Council and Shelley joined our staff.
Greg Avis
Managing Partner
Bangtail Partners
Bud Colligan
Founder & CEO
South Swell Ventures
Susan Ford Dorsey
President
Sandhill Foundation
Susan Ehrlich
CFO
Simple Financial Technology
Amy Gurley
Independent
Mark Leslie
Leslie Family Fund
Harrison Miller
Managing Director
Summit Partners
John A Sobrato, Sr.
Chairman
The Sobrato Organization
Jennifer Tescher
President & CEO
Center for Financial Services Innovation
Amanda Byrd
Vice President, Membership & Communications
Southern California Grantmakers
Natasha Case
Founder & CEO
Coolhaus
Ron Gonen
President
EGC Luxury Homes
David Greco
President & CEO
Social Sector Partners
Hogan Lee
Chief Experience Officer
Carenote
Kristen Ludwig
President & Founder
In Good Company
Shauna Nep
Director
Yael and Scooter Braun Family Foundation
Tara Roth
President
The Goldhirsh Foundation
Maeve Elise Brown
Executive Director, Housing & Economic Rights Advocates (HERA)
Gina Diaz
Corporate Counsel, Oracle
Tina Ferguson-Riffe
Owner, Smoke Berkeley
Paulina Gonzalez
Executive Director, California Reinvestment Coalition
Knowing my work creates a ripple effect in the community means so much.
At Opportunity Fund, I work for a good cause with a great team of people.
I love that we’re always striving to make our work better for our clients.
We always seek ways to improve our model and scale impact - I love it.
Adela
Adrian
Adriana J
Adriana W
Aleks
Alex E
Alex D
Alma
Ana A
Ana G
Ana L
Ana N
Angel
Annette
Antonio
Armando
Belinda
Brent
Brooke
Byron
Caitlin
Carlos
Cathrine
Chelsea
Chris M
Christina
Christopher B
Chris H
Cindy
Cinthia
Crystal
Damian
Dan
Daniel
Darcy
Devin
Dulce
Eddie
Elizabeth
Eric
Erin
Fernando
Fritzie
Gabe
Galina
Gayatri
Gerardo
Gricel
Griselda
Gwendy
Heather
Iosefa
Ivone
Janeth
Janine
Jason
Jeff
Jenna
Jessica M
Jessica O
John D
John W
Jose G
Kate
Kim
Kishore
Kristin
Kristina
Laly
Laura
Lauren
Lieu
Lindsay
Lisha
Lissette
Liz
Lizette
Luis
Luz
Madieu
Maricela
Marisela
Marta
Matt
Mayra Ce.
Mayra Co.
Melissa
Michael
Michelle
Miguel B
Miguel C
Miguel G
Mike
Monica
Mynor
Nancy
Nicole
Osbaldo
Priya
Rakesh
Regina
Renato
Rexie
Rhiannon
Robert
Ryan D
Ryan R
Salvador
Serena
Sergei
Shanna
Shelley
Silvia
Sonia
Susanna
Suvada
Tim
| FY 2018 | FY 2017 | |
| Assets | ||
|---|---|---|
| Cash | $9,783,223 | $6,417,260 |
| Investments | $1,162,363 | $1,189,039 |
| Cash for Programs | $11,077,886 | $19,960,695 |
| Current Loans & Other Reveivables | $27,789,140 | $20,808,860 |
| Long Term Loans & Other Receivables | $51,500,827 | $37,505,972 |
| Total Assets | $101,313,439 | $85,881,826 |
| Liabilities and Net Assets | ||
| Current Liabilities | $9,463,083 | $7,749,523 |
| Longterm Liabilities | $65,436,652 | $49,686,617 |
| Net Assets | $26,413,704 | $28,445,686 |
| Total Liabilities and Net Assets | $101,313,439 | $85,881,826 |
| Condensed Statement of Activities | ||
| Revenues | ||
| Contributed Revenue | $6,703,564 | $9,628,172 |
| Earned Revenue | $17,515,145 | $12,920,461 |
| Interest on Cash and Investments | $31,853 | $25,960 |
| Total Revenues | $24,250,562 | $22,574,593 |
| Expenses | ||
| Programs Expenses | $21,048,731 | $15,195,519 |
| Support Expenses | $5,233,813 | $4,548,855 |
| Total Expenses | $26,282,544 | $19,744,374 |
| Change in Net Assets | -$2,031,982 * | $2,830,219 |
* Opportunity Fund generated a $2.7 million surplus before noncash expenses (i.e., loan loss provision expense and depreciation/amortization). When non-cash expenses are included, Opportunity Fund recorded a $2.0 million deficit (first deficit in 9 years) due to increased loan volume which resulted in higher loan loss provision expense. Additionally, Opportunity Fund received a significant in-kind software donation at the end of the previous year which resulted in higher amortization in the current year.