Driving economic mobility has never been more important or more rewarding

Luz Urrutia, CEO

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

Impact

$92,684,934 Invested in
Small Businesses

2,985 New Loans to Entrepreneurs

397,336 Low-income People
Supported by NMTC projects

$43.6MM Loaned in
NMTC Projects

3 NMTC Projects
Funded in 2018

National Expansion

California

Florida

Georgia

Illinois

Michigan

Nevada

New Jersey

New York

North Carolina

Ohio

Oregon

Pennsylvania

Texas

Washington

32% Women
Entrepreneurs

63% Low-to-Moderate
Income Borrowers

85% Minority
Business Owners

Community

I look forward to continuing my support of such a wonderful organization. We can do good that creates exponential returns.

Alexis Zhu, Donor

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.

Nancy E. Brown, Managing Director, Community Development, Charles Schwab Bank

Calvert Impact Capital is proud to lend to Opportunity Fund. Their work aligns with our mission to create a more equitable and sustainable world.

Catherine Van Dusen Godschalk, Vice President, Investments, Calvert Impact Capital

Donors & Funders

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



Investors

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.

Sara Leslie, Board Member

Opportunity Fund demonstrates that responsible and fair-minded microfinance organizations can provide reasonable rates of return while providing dollars and advice to underserved communities.

Jim Koshland, Board Member

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.

Dickson Chu, Board Member

Boards and Advisors

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.

Angelita, Opportunity Fund Team Member

At Opportunity Fund, I work for a good cause with a great team of people.

Renato, Opportunity Fund Team Member

I love that we’re always striving to make our work better for our clients.

Kristin, Opportunity Fund Team Member

We always seek ways to improve our model and scale impact - I love it.

Chris, Opportunity Fund Team Member

Staff

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


Financials


Financials

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. 

Download our full Audited Financial Statements