Tri-Cities Opera Company Inc
- Assets
- $861.5k
- Revenue
- $417.6k
- Investments
- $0.0
- Employees
- 23
- Location
- Binghamton, NY
- Founding
- 05/1959
- Data as of
- 12/2021
- EIN
- 15-0544166
Organization Overview
Tri-Cities Opera Company Inc is located in Binghamton, NY. The organization was established in 1959. 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 12/2021, Tri-Cities Opera Company Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tri-Cities Opera Company 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 12/2021, Tri-Cities Opera Company Inc generated $417.6k 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 (10.3%) each year. All expenses for the organization totaled $340.7k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (14.5%) 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
THE PRODUCTION OF PROFESSIONAL QUALITY OPERA USING THE TALENTS OF YOUNG ARTISTS. TCO SETS THE STANDARD FOR ARTISTIC EXCELLENCE WHILE ENRICHING, ENHANCING, ENGAGING & EDUCATING OUR COMMUNITY THROUGH THE POWER OF LIVE MUSICAL STORYTELLING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COMPANY PRODUCED OPERAS TO BE VIEWED BY THE COMMUNITY.
THE COMPANY'S RESIDENT ARTISTS GO TO SCHOOLS AND OTHER COMMUNITY VENUES TO PRESENT CHILDREN'S OPERA LIVE AND IN-PERSON AND FILM CHILDREN'S OPERA FOR DIGITAL DISTRIBUTION.
THE COMPANY RENTS COSTUMES AND SETS TO OTHER NONPROFIT ORGANIZATIONS FOR USE IN OPERA PRODUCTIONS.
OTHER PROGRAMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Rozzoni General Director | Officer | 40 | $65,830 |
Carol Chandler Chair | OfficerTrustee | 1 | $0 |
David Mcclintock Vice Treasurer | OfficerTrustee | 1 | $0 |
Ronald Platt Treasurer | OfficerTrustee | 1 | $0 |
Jason Fiume Secretary | OfficerTrustee | 1 | $0 |
Emily Hugenhbuch Vice Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $161,515 |
| All other contributions, gifts, grants, and similar amounts not included above | $205,691 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $367,206 |
| Total Program Service Revenue | $50,411 |
| Investment income | $13 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $417,630 |
| 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. | $39,042 |
| Compensation of current officers, directors, key employees. | $39,042 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $68,914 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $14,474 |
| Payroll taxes | $8,211 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,652 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $61,661 |
| Advertising and promotion | $13,563 |
| Office expenses | $5,682 |
| Information technology | $0 |
| Royalties | $28 |
| Occupancy | $14,224 |
| Travel | $2,382 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,616 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,407 |
| Insurance | $12,580 |
| All other expenses | $1,256 |
| Total functional expenses | $340,720 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $53,259 |
| Savings and temporary cash investments | $235,079 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $44,961 |
| 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 | $4,225 |
| Net Land, buildings, and equipment | $523,961 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $861,485 |
| Accounts payable and accrued expenses | $40,273 |
| Grants payable | $0 |
| Deferred revenue | $7,218 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $150,000 |
| Secured mortgages and notes payable | $216,991 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $414,482 |
| Net assets without donor restrictions | $285,797 |
| Net assets with donor restrictions | $161,206 |
| 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 | $861,485 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Tri-Cities Opera Company Inc has recieved totaling $85,644.
| Awarding Organization | Amount |
|---|---|
Broome County Arts Council Inc Endicott, NY PURPOSE: OPERATING SUPPORT | $47,050 |
Community Foundation Of Elmira Corning And The Finger Lakes Horseheads, NY PURPOSE: OPERA GO ROUND | $12,500 |
J M Mcdonald Foundation Inc Wilmington, DE PURPOSE: OPERA-GO-ROUND PROGRAM | $10,000 |
Floyd Hooker Foundation Soldotna, AK PURPOSE: STONE SOUP PROJECT | $8,500 |
Preservation League Of New York State Albany, NY PURPOSE: LITHUANIAN NATIONAL ASSOCIATION - BUILDING CONDITION REPORT | $6,000 |
Raymond Foundation Greene, NY PURPOSE: DONATIONDONATION | $1,000 |
Endowment Analysis
| Beg. Balance | $132,721 |
| Earnings | $7 |
| Ending Balance | $132,728 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Pittsburgh Opera Theater Inc Pittsburgh, PA | $277,338 | $656,627 |