Opas Foundation
- Assets
- $214.2m
- Revenue
- $7.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Omaha, NE
- Founding
- 07/2006
- Data as of
- 06/2022
- EIN
- 20-3523938
Organization Overview
Opas Foundation is located in Omaha, NE. The organization was established in 2006. 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. Opas Foundation 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 06/2022, Opas Foundation generated $7.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.5% each year . All expenses for the organization totaled $6.1m during the year ending 06/2022. While expenses have increased by 5.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF OPAS FOUNDATION IS TO FURTHER THE OBJECTIVES AND PURPOSE OF OMAHA PERFORMING ARTS SOCIETY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPAS FOUNDATION OWNS THE HOLLAND PERFORMING ARTS CENTER AND LEASES THE BUILDING TO OMAHA PERFORMING ARTS SOCIETY TO FURTHER THE MISSION OF THAT ORGANIZATION.
OPAS FOUNDATION PROVIDES OPERATIONAL SUPPORT TO OMAHA PERFORMING ARTS SOCIETY IN THE FORM OF AN ANNUAL GRANT.
OPAS FOUNDATION IS RESPONSIBLE FOR THE FUNDRAISING AND CONSTRUCTION OF STEELHOUSE OMAHA, A NEW LIVE MUSIC VENUE WHICH WILL OPEN IN MID-2023. THE VENUE IS PART OF THE PLANNED EXPANSION OF O-PA'S ARTS AND ENTERTAINMENT CAMPUS NEAR THE HOLLAND PERFORMING ARTS CENTER AND WILL PROVIDE FLEXIBLE SPACE TO ACCOMMODATE AUDIENCES OF UP TO 3,000. ALL CONSTRUCTION EXPENSES ARE CURRENTLY BEING CAPITALIZED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joan H Squires President | Officer | 5 | $0 |
Arnold Reeves Senior VP And Cfo, Treasurer | Officer | 5 | $0 |
Sabrina Weiss VP - Development | Officer | 5 | $0 |
Michael Mccarthy Chair | OfficerTrustee | 1 | $0 |
Jack Koraleski Vice Chair | OfficerTrustee | 1 | $0 |
John Boyer Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kiewit Building Group Construction | 6/29/22 | $19,001,558 |
Heartland Scenic Studio Equipment | 6/29/22 | $535,075 |
Holland Basham Architects Architectural Services | 6/29/22 | $973,537 |
Tri Project Solutions Project Management | 6/29/22 | $212,019 |
Professional Audio Designs Equipment | 6/29/22 | $150,017 |
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 | $1,208,276 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,208,276 |
| Total Program Service Revenue | $2,302,238 |
| Investment income | $111,647 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,955,833 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,577,994 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,929,994 |
| 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 | $2,496 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $84,237 |
| 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 | $2,037,034 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $6,053,761 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,636,492 |
| Savings and temporary cash investments | $682,897 |
| Pledges and grants receivable | $39,773,448 |
| 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 | $1,267,233 |
| Net Land, buildings, and equipment | $121,364,609 |
| Investments—publicly traded securities | $48,435,559 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $214,160,238 |
| Accounts payable and accrued expenses | $3,349,714 |
| 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 | $1,321,541 |
| Total liabilities | $4,671,255 |
| Net assets without donor restrictions | $130,556,529 |
| Net assets with donor restrictions | $78,932,454 |
| 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 | $214,160,238 |