Metropolitan Opera Association Inc
- Assets
- $578.2m
- Revenue
- $163.8m
- Investments
- $219.5m
- Employees
- 5,128
- Location
- New York, NY
- Founding
- 10/1940
- Data as of
- 07/2021
- EIN
- 13-1624087
Organization Overview
Metropolitan Opera Association Inc is located in New York, NY. The organization was established in 1940. 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 Association Inc employed 5,128 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Metropolitan Opera Association Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 07/2021, Metropolitan Opera Association Inc generated $163.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.8%) each year. All expenses for the organization totaled $132.0m during the year ending 07/2021. As we would expect to see with falling revenues, expenses have declined by (10.7%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PERFORMANCE OF OPERA TO THE PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PREPARATION AND PRESENTATION OF OPERA PERFORMANCES AT THE METROPOLITAN OPERA HOUSE AS WELL AS SYMPHONIC REPERTORY AT CARNEGIE HALL. ALSO INCLUDES OUTDOOR PRESENTATION OF CONCERTS THROUGHOUT PARKS IN NEW YORK CITY. PARKS CONCERTS ARE PRESENTED TO THE PUBLIC AT NO CHARGE. THE ATTENDANCE OF THESE PERFORMANCES IS MORE THAN SIX-HUNDRED THOUSAND PEOPLE PER SEASON. INCLUDED IN PERFORMANCE REVENUE IS $1.9 MILLION IN CONTRIBUTIONS FOR THE RUSH DISCOUNT TICKETS PROGRAM AND $0.4 MILLION RELATED TO IN-KIND TICKET DONATIONS.
OTHER PROGRAM ACTIVITIES INCLUDING MERCHANDISING, DEVELOPMENT OF YOUNG ARTISTS THROUGH THE LINDEMANN YOUNG ARTIST DEVELOPMENT PROGRAM, AND THE LAFFONT COMPETITION AND CONCERT.
MEDIA PRESENTATION OF OPERA PERFORMANCES. LIVE PERFORMANCES BROADCAST IN HIGH DEFINITION TO MOVIE THEATERS THROUGHOUT THE WORLD. DOMESTIC AND INTERNATIONAL LIVE AUDIO TRANSMISSIONS OF PERFORMANCES ON RADIO AND THE MET'S WEBSITE. PAST PERFORMANCES BROADCAST ON TELEVISION, RADIO STATIONS AND THE INTERNET GLOBALLY. MEDIA PRESENTATIONS REACHED AN AUDIENCE OF APPROXIMATELY 9.9 MILLION.
PRESENTATION OF EVENTS OTHER THAN OPERA WHERE THE MET EITHER PRESENTS OR CO-PRESENTS THE EVENT OR LICENSES THE OPERA HOUSE TO THIRD PARTIES. THE ATTENDANCE AT THESE EVENTS, PRINCIPALLY BALLET, WAS APPROXIMATELY 100,000 PEOPLE PER YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Gelb General Manager | Officer | 60 | $1,379,032 |
Yannick Nezet-Seguin Music Director | 60 | $1,307,583 | |
John Sellars Asst Gen Mgr, Production | Officer | 60 | $399,776 |
Donald Palumbo Chorus Master | 60 | $486,344 | |
David Chan Concert Master | 60 | $498,035 | |
Philip Volpe Elc Dpt Hd/master Electric | 60 | $406,447 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Daybreak Fast Freight Inc Container Storage And Transit | 7/30/23 | $3,042,181 |
Situation Interactive Marketing And Creative | 7/30/23 | $2,463,561 |
Nicholson & Galloway Inc Construction | 7/30/23 | $2,352,265 |
All Mobile Video Inc Video/audio | 7/30/23 | $2,228,133 |
Bay Productions Ltd Production | 7/30/23 | $2,265,179 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $140,355,568 |
| Investment income | $2,198,749 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $8,397 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $9,024,084 |
| Net Income from Fundraising Events | -$164,169 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $569,919 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $163,754,215 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $481,810 |
| Grants and other assistance to Foreign Orgs/Individuals | $66,850 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,837,627 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $43,082,708 |
| Pension plan accruals and contributions | $10,923,562 |
| Other employee benefits | $21,975,582 |
| Payroll taxes | $4,132,696 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,125,151 |
| Fees for services: Accounting | $309,571 |
| Fees for services: Lobbying | $80,650 |
| Fees for services: Fundraising | $136,734 |
| Fees for services: Investment Management | $3,101,880 |
| Fees for services: Other | $3,697,506 |
| Advertising and promotion | $546,608 |
| Office expenses | $2,485,495 |
| Information technology | $2,533,304 |
| Royalties | $37,072 |
| Occupancy | $3,947,681 |
| Travel | $288,223 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,073,856 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,157,667 |
| Insurance | $1,648,722 |
| All other expenses | $0 |
| Total functional expenses | $131,985,656 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,186,524 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $96,294,856 |
| Accounts receivable, net | $10,264,295 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $779,580 |
| Prepaid expenses and deferred charges | $19,573,745 |
| Investments—publicly traded securities | $114,645,967 |
| Investments—other securities | $219,464,310 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,624,713 |
| Total assets | $578,246,419 |
| Accounts payable and accrued expenses | $23,706,446 |
| Grants payable | $0 |
| Deferred revenue | $23,623,841 |
| 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 | $57,000,000 |
| Unsecured mortgages and notes payable | $83,857,540 |
| Other liabilities | $149,629,847 |
| Total liabilities | $337,817,674 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $240,428,745 |