Metropolitan Opera Club Inc
- Assets
- $504.0k
- Revenue
- $739.6k
- Investments
- $0.0
- Employees
- 10
- Location
- New York, NY
- Founding
- 08/1946
- Data as of
- 07/2023
- EIN
- 13-1572247
Organization Overview
Metropolitan Opera Club Inc is located in New York, NY. The organization was established in 1946. According to its NTEE Classification (A6A) the organization is classified as: Opera, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 07/2023, Metropolitan Opera Club Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Metropolitan Opera Club Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 07/2023, Metropolitan Opera Club Inc generated $739.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (11.5%) each year. All expenses for the organization totaled $817.7k during the year ending 07/2023. As we would expect to see with falling revenues, expenses have declined by (10.4%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE CLUB CULTIVATES VOCAL AND INSTRUMENTAL MUSIC, FOSTER OPERATIC AND MUSICAL PERFORMANCES & SUPPORTS THE METROPOLITAN OPERA ASSOCIATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE METROPOLITAN OPERA CLUB IS ORGANIZED FOR PLEASURE AND ARTS. THE ACTIVITIES ARE FOR THE BENEFIT OF ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
J Truman Bidwell Jr President | OfficerTrustee | 3 | $0 |
Duncan Mckay Director | Trustee | 3 | $0 |
John Brewer Director | Trustee | 3 | $0 |
David Barrett Director | Trustee | 3 | $0 |
Susan B Clearwater Director | Trustee | 3 | $0 |
Randall Bennett Strossen Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $443,823 |
| Investment income | $544 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $255,723 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $739,576 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $150,085 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $353,990 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $100,636 |
| Payroll taxes | $66,757 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $31,977 |
| Advertising and promotion | $3,500 |
| Office expenses | $37,561 |
| Information technology | $21,343 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,104 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,854 |
| Insurance | $16,703 |
| All other expenses | $4,568 |
| Total functional expenses | $817,650 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,037 |
| Savings and temporary cash investments | $448,129 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,893 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $13,155 |
| Prepaid expenses and deferred charges | $13,759 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $503,973 |
| Accounts payable and accrued expenses | $19,518 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,221 |
| Total liabilities | $22,739 |
| Net assets without donor restrictions | $481,234 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $503,973 |