The Opportunity Foundation
The Opportunity Foundation is a private foundation focused on Arts, Culture & Humanities, based in Chicago, IL. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $347K in total assets. In 2025, it awarded 4 grants totaling $527K. Net investment income was $374K.
The Opportunity Foundation at a glance
In short: The Opportunity Foundation gave $527K across 4 grants in 2025 (avg $132K), mostly in Virginia. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $527,000
- +10.5% vs 2024
- Grants made (2025)
- 4
- +0.0% vs 2024
- Average grant
- $131,750
- +10.5% vs 2024
- Median grant
- $113,000
- Total assets
- $346,711
- -31.8% vs 2024
- Primary geography
- Virginia (57% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who The Opportunity Foundation funds
How this funder distributes its grants
Top Recipients
Top 4 recipients in 2025
The largest 2025 recipient was Institute for Justice ($300K). Together the top 4 received $527K.
Grant Size Distribution
27 grants across all recorded years
The most common grant size was under $50K: 19 grants of 27 (70%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 4 itemized grants.
Cities
How The Opportunity Foundation gives
- Giving grew 2008% from 2022 to 2025. Method
- In 2025 it paid out 693% of its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $25K (2022) to $789K (2023). In 2025 it made 4 grants totaling $527K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Institute for Justice Arlington, VA | Rational Basis Strategy | $300,000 |
| Cato Institute Washington, DC | Programs advancing the foundationsstrategic goals as discussed with petergoettler (pres.) et al. | $225,000 |
| American Council on Science and Health New York, NY | General Fund | $1,000 |
| Princeton First Aid and Rescue Squad Princeton, NJ | General Fund | $1,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $346,711 | $379,479 | $541,096 | $527,000 | 4 | $532,141 | $374,330 | $76,787 |
| 2024 | $508,328 | $335,911 | $499,402 | $477,000 | 4 | $483,042 | $329,839 | $88,256 |
| 2023 | $671,819 | $375,175 | $800,513 | $789,000 | 5 | $791,007 | $369,682 | $111,755 |
| 2022 | $1,097,157 | $48,764 | $36,735 | $25,000 | 5 | $28,861 | $44,190 | $119,095 |
| 2021 | $1,085,128 | $301,283 | $387,130 | $383,000 | 9 | $383,000 | $299,043 | $144,411 |
| 2020 | $1,170,975 | $103,469 | $350,346 | $343,000 | 9 | — | $100,919 | $124,433 |
Under IRS private-foundation payout rules, The Opportunity Foundation reported a distributable amount of $77K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
The Opportunity Foundation is led by Daniel Cullen, President & Treasurer since 2022 (on filings since 2020); none of the 3 officers listed in 2025 report compensation.
Officers on the 2025 filing
Daniel Cullen
President & Treasurer
Secretary & Treasurer → President & Treasurer, 2022
On filings since 2020
1 hr/week
No compensation reported
Sherise Ritter
Trustee
On filings since 2022
1 hr/week
No compensation reported
Mary C. Muehlstein
Vice President & Secretary
Director → Vice President & Secretary, 2022
On filings since 2020
1 hr/week
No compensation reported
Former officers (1)
- Former: Paula Bramsen Cullen (2020–2021) — President
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about The Opportunity Foundation
How much does The Opportunity Foundation give each year?
The Opportunity Foundation gave $527K across 4 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $477K across 4 grants.
What is The Opportunity Foundation's typical grant size?
The Opportunity Foundation's median grant in 2025 was $113,000, and its average grant was $131,750, across 4 grants on its 2025 IRS Form 990-PF.
Where does The Opportunity Foundation give grants?
The Opportunity Foundation gives mostly in Virginia: 57% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest state was District of Columbia (43%).
Does The Opportunity Foundation give general operating support?
Yes: 50% of The Opportunity Foundation's 2025 grants with a stated purpose (2 of 4) were for general or operating support, per its 2025 IRS Form 990-PF.
How large is The Opportunity Foundation?
The Opportunity Foundation reported $347K in total assets on its 2025 IRS Form 990-PF. It paid out $532K in qualifying distributions that year, against a required minimum of $77K (roughly 5% of its investment assets).
What is The Opportunity Foundation?
The Opportunity Foundation is a private foundation focused on Arts, Culture & Humanities, based in Chicago, IL. It holds $347K in total assets as of 2025.
What is The Opportunity Foundation's EIN?
The Opportunity Foundation's EIN (Employer Identification Number) is 36-3835681. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS May 14, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS July 11, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 15, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS July 1, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS June 30, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 14, 2026)
- IRS filings on file for fiscal years 2020–2024
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