Sarasota Opera Association Inc
- Assets
- $28.3m
- Revenue
- $7.6m
- Investments
- $0.0
- Employees
- 140
- Location
- Sarasota, FL
- Founding
- 11/1970
- Data as of
- 05/2023
- EIN
- 23-7089047
Organization Overview
Sarasota Opera Association Inc is located in Sarasota, FL. The organization was established in 1970. 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 05/2023, Sarasota Opera Association Inc employed 140 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sarasota 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 05/2023, Sarasota Opera Association Inc generated $7.6m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $9.8m during the year ending 05/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PRODUCE OUTSTANDING OPERA TRUE TO THE VISION OF THE COMPOSER, TO ENTERTAIN, ENRICH, AND EDUCATE THE COMMUNITIES IN SOUTHWEST FLORIDA AS WELL AS PATRONS FROM ACROSS THE STATE AND AROUND THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SARASOTA OPERA CONTINUED ITS POST-COVID JOURNEY TOWARD A NORMAL OPERATING SCHEDULE. IN THE FALL OF 2022, AUDIENCES REMAINED HESITANT TO RETURN TO LIVE THEATER PERFORMANCES AND HURRICANE IAN ALSO IMPACTED ATTENDANCE. ONCE THE CALENDAR TURNED TO 2023, TICKET SALES INCREASED SIGNIFICANTLY, EXCEEDING BUDGETED SALES FOR TWO OF THE FOUR OPERAS PRESENTED. THE OPERA PRESENTED 34 MAIN STAGE OPERA PERFORMANCES AS WELL AS 4 CONCERTS AND 8 HD MOVIE SHOWINGS. THE OPERA'S YOUTH OPERA PROGRAM RETURNED WITH 2 PERFORMANCES IN THE FALL OF 2022, ALONG WITH COMMUNITY OUTREACH EVENTS, IN-SCHOOL PERFORMANCES AND TEACHER WORKSHOPS. THE OPERA'S TWO GUILD ORGANIZATIONS ALSO RETURNED TO FUNDRAISING EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ron Archbold Trustee | Trustee | 2 | $0 |
J Sumner Bagby Trustee | Trustee | 2 | $0 |
Edward C Bavaria Trustee | Trustee | 2 | $0 |
Katherine Benoit Secretary | OfficerTrustee | 2 | $0 |
Ulysses Brualdi Trustee | Trustee | 2 | $0 |
David Chaifetz Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Opera San Jose Inc Set Building | 5/30/23 | $122,413 |
Otva-sar Llc Warehouse Space Lease Costumes | 5/30/23 | $140,517 |
Derenzi & Sundine Inc Artistic Direction, Stage Direction, Con | 5/30/23 | $489,293 |
Tessitura Network Inc Ticketing And Fundraising Software & Sup | 5/30/23 | $103,403 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $228,986 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,404,062 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,633,048 |
| Total Program Service Revenue | $3,388,505 |
| Investment income | $272,254 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$65,582 |
| Net Income from Fundraising Events | $102,088 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,635,719 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $9,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $717,479 |
| Compensation of current officers, directors, key employees. | $334,227 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,037,175 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $288,566 |
| Payroll taxes | $182,058 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,569 |
| Fees for services: Accounting | $27,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $98,457 |
| Fees for services: Other | $0 |
| Advertising and promotion | $402,134 |
| Office expenses | $157,712 |
| Information technology | $118,955 |
| Royalties | $0 |
| Occupancy | $977,333 |
| Travel | $571,093 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $34,061 |
| Interest | $131,079 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $832,104 |
| Insurance | $159,407 |
| All other expenses | $55,575 |
| Total functional expenses | $9,783,004 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $132,212 |
| Savings and temporary cash investments | $70,004 |
| Pledges and grants receivable | $301,448 |
| Accounts receivable, net | $78,986 |
| 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 | $106,325 |
| Net Land, buildings, and equipment | $15,480,201 |
| Investments—publicly traded securities | $10,860,172 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,265,186 |
| Total assets | $28,294,534 |
| Accounts payable and accrued expenses | $237,159 |
| Grants payable | $0 |
| Deferred revenue | $1,079,807 |
| 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 | $3,292,054 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,267,532 |
| Total liabilities | $5,876,552 |
| Net assets without donor restrictions | $14,168,705 |
| Net assets with donor restrictions | $8,249,277 |
| 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 | $28,294,534 |