Metropolitan Opera Centennial Fund Endowment Trust
- Assets
- $49.3m
- Revenue
- $1.2m
- Investments
- $7.5m
- Employees
- 0
- Location
- New York, NY
- Founding
- 07/1960
- Data as of
- 07/2021
- EIN
- 13-6071129
Organization Overview
Metropolitan Opera Centennial Fund Endowment Trust is located in New York, NY. The organization was established in 1960. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Metropolitan Opera Centennial Fund Endowment Trust 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 Centennial Fund Endowment Trust generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $1.8m during the year ending 07/2021. As we would expect to see with falling revenues, expenses have declined by (7.3%) per year over the past 6 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
TO SUPPORT THE ACTIVITIES OF THE METROPOLITAN OPERA ASSOCIATION, INC., A 501(C)(3) ORGANIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SUPPORT TO METROPOLITAN OPERA ASSOCIATION, INC. FOR ITS EXEMPT ACTIVITIES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Trustee | 1 | $30,000 | |
Dr Frayda Lindemann Vice Chair | OfficerTrustee | 1 | $0 |
William C Morris To 2321 Chairman | OfficerTrustee | 1 | $0 |
Ann Ziff FR 6821 Chairman | OfficerTrustee | 1 | $0 |
Richard Kemp To 51821 Secretary | Officer | 1 | $0 |
Sharon Urban FR 51821 Secretary | Officer | 1 | $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 | $8,571 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,571 |
| Total Program Service Revenue | $0 |
| Investment income | $1,215,753 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$62,009 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,162,315 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,550,133 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $258,949 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,809,082 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $297,962 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $41,527,671 |
| Investments—other securities | $7,462,992 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $49,288,625 |
| Accounts payable and accrued expenses | $108,430 |
| 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 | $0 |
| Total liabilities | $108,430 |
| Net assets without donor restrictions | $14,253,360 |
| Net assets with donor restrictions | $34,926,835 |
| 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 | $49,288,625 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Metropolitan Opera Centennial Fund Endowment Trust has recieved totaling $5,500.
| Awarding Organization | Amount |
|---|---|
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $5,500 |
Endowment Analysis
| Beg. Balance | $45,516,605 |
| Earnings | $5,035,296 |
| Admin Expense | $213,605 |
| Net Contributions | $202,500 |
| Other Expense | $1,550,133 |
| Ending Balance | $48,990,663 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Friends Of The Israel Antiquities Authority Inc New York, NY | $7,188,185 | $4,799,124 |
Tate Americas Foundation New York, NY | $101,513,410 | $8,735,378 |
Museo Reina Sofia Foundation Usa Inc New York, NY | $1,828,282 | $604,276 |
American Associates Of The National Theatre Inc New York, NY | $4,697,341 | $5,678,751 |
American Friends Of The Israel Philharmonic Orchestra Inc New York, NY | $30,416,918 | $8,529,001 |
Mary Louise Curtis Bok Foundation Philadelphia, PA | $100,159,634 | $12,712,681 |
American Friends Of The Louvre Inc New York, NY | $14,733,047 | $4,946,706 |
Pbs39 Foundation Corporation Bethlehem, PA | $103,089,426 | $11,164,328 |
American Friends Of The National Portrait Gallery Foundation Inc New York, NY | $1,343,323 | $3,284,122 |
Academy Of Music Of Philadelphia Inc Philadelphia, PA | $30,910,650 | $3,266,946 |
Coolidge Corner Theatre Foundation Inc Brookline, MA | $13,995,984 | $5,567,271 |
Boston Arts Academy Foundation Inc Boston, MA | $11,130,374 | $3,508,715 |