Opportunity Alabama

What Opportunity Alabama does

Opportunity Alabama (OPAL) is a nonprofit 501(c)(3) organization founded in 2018 and headquartered in Birmingham, Alabama, that operates as a community development financial institution providing technical assistance and access to capital to underserved communities across the state. Its core function is financial engineering for community development: assembling complex capital stacks that combine Opportunity Zone equity, federal and state historic tax credits (including Alabama's unique refundable 25% state historic tax credit), New Markets Tax Credits, Low Income Housing Tax Credits, CDFI lending, and federal grants into viable project financing. The Property Development Assistance Program (PDAP) delivers pre-development support (planning, budgeting, pro forma creation, capital stacking) to commercial property owners and emerging developers in low-income markets.

OPAL operates through a multi-entity structure: the parent 501(c)(3); OPAL Investments, Inc., a public benefit corporation that owns OPAL Advisory, LLC (a registered investment adviser); and OPAL Community Capital, LLC, a certified CDFI on-balance-sheet loan fund. Capital products span tax-advantaged bridge debt, federal historic tax credit equity, mezzanine debt, and common equity for Opportunity Zone projects. Notable deployments include the $18.5M OPAL Fund as lead equity investor in the Regional East Alabama Logistics (REAL) Park in Tuskegee, AL, and administration of the Paul Bruhn Historic Revitalization Grant Program in Selma and Marion. Reported impact metrics include $600M in facilitated new investment, 1.5M+ square feet of real estate developed, and 40 Alabama communities served.

Revenue mechanics are nonprofit-CDFI hybrid: philanthropic contributions and federal grants (USDA, US EDA, NPS Historic Preservation Fund, Tipping Point Fund) fund technical assistance delivered at no direct cost; advisory fees are generated through OPAL Advisory; and interest income plus investment returns are generated through OPAL Community Capital's loan fund. Go-to-market is partnership-driven and direct-relationship, leveraging a board network that includes Regions Bank, Alabama Power, First Horizon, Protective Life, and EDPA, plus statewide ecosystem partners including Innovate Alabama, Alabama SBDC Network, Main Street Alabama, and regional planning commissions.

Name

Opportunity Alabama

Legal name

Opportunity Alabama, Inc.

Website

https://opportunityalabama.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

Opportunity Alabama is a nonprofit community development financial institution that provides technical assistance and capital stacking for real estate and economic development projects in Alabama's underserved communities. It serves developers, property owners, and local governments through advisory services, a CDFI loan fund, and Opportunity Zone investment vehicles.

Ownership category

akta.pro rank

Product category

Community Development Financial Services

NAICS

Religious, Grantmaking, Civic, Professional, and Similar Organizations (813), Land Subdivision (2372), Civic and Social Organizations (813410)

SIC

Real Estate Dealers (For Their Own Account) (6532), Services-Facilities Support Management Services (8744), Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

Real Estate Development & Feasibility Advisory (Highest-and-Best-Use, Entitlements Support) (BPAJANAC)

akta.pro secondary industries

Value-Add & Opportunistic Real Estate (FSAAAKAB), Small Business & Entrepreneurship Community Education (EDAAAFAK)

Keywords

• Community development finance
• Opportunity zone investments
• Historic tax credits
• CDFI loan fund
• Real estate development assistance

Headquarters

HQ city

Birmingham

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Technical Assistance Services: OPAL provides technical assistance to developers, property owners, and community stakeholders at no direct cost, funded through grants and philanthropy. This includes pre-development planning, capital stacking strategy, and project support.
2. Investment Management (OPAL Advisory, LLC): OPAL Advisory, LLC is a registered investment adviser offering advisory services to investors interested in Opportunity Zone investments, tax credit transactions, and private equity opportunities in Alabama. Revenue is generated through advisory fees.
3. Loan Fund Operations (OPAL Community Capital): OPAL Community Capital, LLC is a certified Community Development Financial Institution (CDFI) that provides capital products including tax-advantaged bridge debt, federal historic tax credit equity, mezzanine debt, and common equity for real estate projects. Revenue generated through interest income and investment returns.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Opportunity Alabama is a nonprofit 501(c)(3) that provides technical assistance and access to capital to improve quality of place, enhance the built environment, and revitalize underserved communities in Alabama. Through its Property Development Assistance Program, certified CDFI loan fund (OPAL Community Capital), and investment vehicles (OPAL Investments/OPAL Advisory/OPAL Fund), it helps commercial property owners and emerging developers navigate pre-development planning, budgeting, pro forma creation, and capital stacking for transformative real estate and community development projects.

Product overview

Opportunity Alabama (OPAL) is a nonprofit economic development organization founded in 2018 that provides a suite of technical assistance and capital access services. The core offerings include the Property Development Assistance Program (PDAP) for pre-development support, OPAL Community Capital (a certified CDFI loan fund), and OPAL Investments (managing private equity and Qualified Opportunity Funds). Capital products span tax-advantaged bridge debt, historic tax credit equity, mezzanine debt, and common equity for Opportunity Zone projects. The organization also administers the Paul Bruhn Historic Revitalization Grant Program and provides educational resources including an Alabama Statewide Community Data Map and guides on capital stacking, tax credits, and community wealth building strategies.

Differentiator

Problem solved

Functional benefit

Products and services

• Property Development Assistance Program (PDAP)

Quantifiable outcome

• $600M in new investment brought to Alabama communities
• +3 more outcomes

Named customers9 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

14 partnerships are on record, tiered core and minor.

• Main Street MarioncoreStrategic or Co-development Partner · 1 January 2021Local organization partnered with OPAL in 2021 to strategize revitalization of Marion's historic downtown area. Through CGA, OPAL helped develop a plan for a Revolving Loan Fund for small businesses.
• Macon County Economic Development Authority (MCEDA)coreStrategic or Co-development Partner · 1 January 2020OPAL began working with MCEDA in 2020 to strategize the capital stack for the Regional East Alabama Logistics (REAL) Park project, which brought $18.5M in Opportunity Zone investment to Macon County.
• FarPoint Development TeamcoreStrategic or Co-development Partner · 1 January 2020Development team partner with MCEDA and OPAL for the REAL Park industrial development project in Tuskegee, AL.
• Economic Development Partnership of AlabamacoreStrategic or Co-development PartnerMiller Girvin, President & CEO of EDPA, serves on OPAL's Board of Directors. EDPA runs Alabama Launchpad, the state's most active early-stage seed fund investor, which OPAL partners with to support innovative businesses.
• Neighborhood Concepts InccoreStrategic or Co-development PartnerMary Ellen Judah, Executive Director of Neighborhood Concepts Inc, serves on OPAL Community Capital board, contributing community development expertise.
• Navigate Affordable Housing PartnerscoreStrategic or Co-development PartnerLisa McCarroll, CEO of Navigate Affordable Housing Partners, serves on OPAL Community Capital board, bringing expertise in affordable housing development.
• Innovate AlabamacoreStrategic or Co-development PartnerOPAL is working with Innovate Alabama to perform a landscape assessment of Alabama's innovation economy outside major metros, building the state's first comprehensive database of rural innovative businesses through a statewide survey.
• Alabama SBDC NetworkcoreChannel Partner/ Reseller/ DistributorThe Alabama SBDC Network specializes in one-on-one business advising and educational training for small businesses through 10 in-person offices across the state or online. OPAL refers businesses needing general support to ASBDC.
• Main Street AlabamacoreStrategic or Co-development PartnerMain Street Alabama is a 501(c)(3) organization focused on bringing jobs, dollars, and people back to Alabama's historic communities using the Main Street Four-Point Approach. OPAL partners with Main Street programs across Alabama.
• InVictus DevelopmentcoreStrategic or Co-development PartnerWoman-owned, impact-oriented development partner that emerged as the strongest partner for downtown Selma historic revitalization projects near the Edmund Pettus Bridge. OPAL helped InVictus develop capital stacks and apply for CDFI lending.
• Transform FinanceminorStrategic or Co-development PartnerTransform Finance publishes resources on community wealth building models and provides guidance on innovative structures that OPAL references in its community wealth strategies.
• PurposeminorStrategic or Co-development PartnerPurpose is a group developing the ecosystem of knowledge, resources, support, and capital for transitioning to steward/community-ownership. Their resources help OPAL understand community wealth building models.
• ROC USAminorStrategic or Co-development PartnerROC USA scales resident ownership of manufactured home communities. Their model for community ownership is referenced by OPAL as an example of community wealth building structures.
• Community Investment TrustminorStrategic or Co-development PartnerCommunity Investment Trust works with communities to conduct feasibility studies for Community Investment Trust structures, a model OPAL references for community ownership.

Scale indicators6 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Hope Enterprise Corporation / Hope Credit Union: A Deep South-focused CDFI and credit union serving Alabama, Mississippi, Louisiana, and Tennessee with similar mission of place-based community development finance. Direct peer given overlapping geography, CDFI structure, and target communities.
• Coastal Enterprises, Inc. (CEI): Maine-based CDFI that integrates business lending, real estate development, and policy advocacy for underserved rural communities. Closely mirrors OPAL's integrated nonprofit + CDFI + technical-assistance structure in a different rural geography.
• Reinvestment Fund: A national CDFI that combines capital deployment with data-driven market analytics (PolicyMap) for community development. Comparable for its blend of CDFI lending, advisory work, and proprietary data tools serving similar community-development customers.
• National Trust Community Investment Corporation (NTCIC): Specializes in federal Historic Tax Credit equity and community development financing. Direct peer given OPAL's heavy emphasis on historic tax credit capital stacking, federal HTC equity placement, and place-based historic revitalization.
• Fahe: A network of CDFIs serving distressed communities across Appalachia with affordable housing and community facilities lending. Comparable given similar rural-distressed geography, CDFI lending, and integrated technical-assistance model.
• Main Street America: National nonprofit that supports downtown revitalization through the Main Street Approach. OPAL directly partners with the affiliated Main Street Alabama program, making it a closely related peer in historic downtown redevelopment.
• Capital Impact Partners: National CDFI providing capital and capacity-building to underserved communities, with focus on equitable economic development. Comparable operating model and mission to OPAL's integrated CDFI + technical assistance + advisory structure.
• Low Income Investment Fund (LIIF): A national CDFI focused on underserved communities with a mix of loan capital and program-related investments. Comparable mission, structure, and target population, though with a more urban geographic focus than OPAL.

Broad incumbents

• Enterprise Community Partners: One of the largest national CDFIs and affordable housing developers. Comparable because it operates a vertically integrated CDFI + investment platform and deploys LIHTC, NMTC, and HTC capital, though at much greater scale and broader national scope.
• Local Initiatives Support Corporation (LISC): National CDFI with a dual structure of loan funds and local offices that provide technical assistance and capital to underserved communities. Highly comparable operating model, though substantially larger and more diversified.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/opportunityalabama
• Instagraminstagram.com/opportunityala
• Xx.com/opportunityala

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries3 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Opportunity Alabama