Metropolitan Opera Association Inc
- Assets
- $578.2m
- Revenue
- $163.8m
- Investments
- $219.5m
- Employees
- 4,294
- 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 07/2021, Metropolitan Opera Association Inc employed 4,294 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 6 years, the organization has seen revenues fall by an average of (7.9%) 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 (12.4%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T 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:
PREPARATION AND PRESENTATION OF OPERA PERFORMANCES AT THE METROPOLITAN OPERA HOUSE AS WELL AS SYMPHONIC REPERTORY AT CARNEGIE HALL. ALSO INCLUDES OUTDOOR PRESENTATION OF FREE CONCERTS IN NYC PARKS FOR THE PUBLIC. THE COVID-19 PANDEMIC CAUSED THE MET TO CANCEL ITS LIVE SEASON AT THE OPERA HOUSE FROM MARCH 2020 THROUGH ITS FY21-22 SEASON. THERE WERE NO CARNEGIE HALL PERFORMANCES OR PARKS CONCERTS DURING THE FISCAL YEAR DUE TO THE PANDEMIC. PROGRAMMATIC EXPENSES DURING FY21 INCLUDED COSTS TO MAINTAIN ITS WAREHOUSE AND STORAGE FACILITIES AS WELL AS SOME BENEFITS FOR FURLOUGHED STAFF. THE MET RE-OPENED IN SEPTEMBER 2021 WITH STRICT VACCINATION REQUIREMENTS FOR BOTH AUDIENCE AND STAFF AND HAS SUCCESSFULLY COMPLETED LIVE PERFORMANCES AT THE OPERA HOUSE TO DATE.
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. AS A RESULT OF THE CANCELLATION OF THE MET'S SEASON, THE LIVE BROADCASTS FROM THE OPERA HOUSE WERE CANCELLED. THE MET ENGAGED IN A VARIETY OF ON-LINE ACTIVITES, INCLUDING FREE NIGHTLY ENCORE STREAMING ON OUR WEBSITE AND PAY-PER-VIEW RECITALS.
PRESENTATION OF EVENTS OTHER THAN OPERA WHERE THE MET EITHER PRESENTS OR CO-PRESENTS THE EVENT OR LICENSES THE OPERA HOUSE TO THIRD PARTIES, PRINCIPALLY BALLET. THERE WERE NO EVENTS DURING FY21 DUE TO THE CLOSURE OF THE OPERA HOUSE.
OTHER PROGRAM ACTIVITIES INCLUDING MERCHANDISING, DEVELOPMENT OF YOUNG ARTISTS THROUGH THE LINDEMANN YOUNG ARTIST DEVELOPMENT PROGRAM, AND THE LAFFONT COMPETITION AND CONCERT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Gelb General Manager (see Note) | Officer | 60 | $1,331,060 |
Yannick Nezet-Seguin Music Director | 60 | $662,283 | |
Donald Palumbo Chorus Master | 60 | $430,337 | |
Robert Sirinek Orchestra Manager | 60 | $334,340 | |
James Blumenfeld Property Master | 60 | $327,470 | |
Philip Volpe Elc Dpt Hd/master Electric | 60 | $304,360 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Yorke Construction Corp Construction | 7/30/21 | $4,505,927 |
Nicholson & Galloway Inc Construction | 7/30/21 | $3,563,444 |
Daybreak Fast Freight Inc Container Storage And Transit | 7/30/21 | $1,785,140 |
Aka Nyc Limited Advertising Agency | 7/30/21 | $1,908,450 |
Odeon Entertainment Production | 7/30/21 | $1,163,900 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $73,477 |
| Fundraising events | $4,604,328 |
| Related organizations | $1,550,133 |
| Government grants | $15,161,016 |
| All other contributions, gifts, grants, and similar amounts not included above | $118,966,614 |
| Noncash contributions included in lines 1a–1f | $5,369,939 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $140,355,568 |
| Total Program Service Revenue | $11,142,580 |
| 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 organizations and domestic governments. | $0 |
| 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 of current officers, directors, key employees. | $3,132,601 |
| 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 |
| Net Land, buildings, and equipment | $77,412,429 |
| 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 | -$227,882,051 |
| Net assets with donor restrictions | $468,310,796 |
| 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 | $578,246,419 |
Grants Recieved
Over the last fiscal year, we have identified 128 grants that Metropolitan Opera Association Inc has recieved totaling $15,318,234.
| Awarding Organization | Amount |
|---|---|
Bill And Ann Ziff Foundation New York, NY PURPOSE: GENERAL SUPPORT | $3,849,910 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $2,876,785 |
American Gift Fund Wilmington, DE PURPOSE: OPERATIONS | $2,400,000 |
Joseph And Robert Cornell Memorial Foundation Charlottesville, VA PURPOSE: GRANT IS FOR DONEE'S EXEMPT PURPOSE | $650,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $629,468 |
The Annenberg Foundation Conshohocken, PA PURPOSE: SATURDAY MATINEE BROADCASTS | $500,000 |
Endowment Analysis
| Beg. Balance | $263,674,994 |
| Earnings | $73,355,018 |
| Admin Expense | $2,202,936 |
| Net Contributions | $3,907,590 |
| Other Expense | $11,642,778 |
| Grants | $133,484 |
| Ending Balance | $326,958,403 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Metropolitan Opera Association Inc New York, NY | $578,246,419 | $163,754,215 |
Metropolitan Opera Guild Inc New York, NY | $11,636,908 | $9,957,948 |
Opera Philadelphia Philadelphia, PA | $10,821,353 | $11,047,971 |
Pittsburgh Opera Inc Pittsburgh, PA | $33,685,056 | $15,132,156 |
Glimmerglass Opera Theatre Inc Cooperstown, NY | $19,222,270 | $8,564,842 |
Civic Light Opera Association Pittsburgh, PA | $18,382,442 | $7,903,885 |
Fulton Theatre Company Lancaster, PA | $42,962,045 | $8,952,577 |
Boston Lyric Opera Company Boston, MA | $24,492,285 | $7,326,686 |
New York City Opera Inc New York, NY | $2,464,472 | $3,221,600 |
American Friends Of The Paris Opera & Ballet New York, NY | $1,099,480 | $1,059,401 |
Concerts In Motion Inc New York, NY | $1,668,907 | $960,461 |
Lake George Opera Festival Association Inc Saratoga Springs, NY | $321,221 | $1,192,996 |