Croswell Opera House & Fine Arts Association
- Assets
- $8.4m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 28
- Location
- Adrian, MI
- Founding
- 12/1967
- Data as of
- 12/2022
- EIN
- 38-6144993
Organization Overview
Croswell Opera House & Fine Arts Association is located in Adrian, MI. The organization was established in 1967. According to its NTEE Classification (A65) the organization is classified as: Theater, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Croswell Opera House & Fine Arts Association employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Croswell Opera House & Fine Arts Association 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 12/2022, Croswell Opera House & Fine Arts Association generated $1.8m 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 (14.7%) each year. All expenses for the organization totaled $2.1m during the year ending 12/2022. 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
TO PROMOTE AND PERPETUATE THE ARTS AND TO PRESERVE THE HERITAGE OF ITS HISTORIC BUILDING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE AND PERPETUATE THE ARTS AND TO PRESERVE THE HERITAGE OF ITS HISTORIC BUILDING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jere Righter Artistic Dir | Officer | 40 | $100,500 |
Matt Hammond President | OfficerTrustee | 0.5 | $0 |
Christopher Phillips Treasurer | OfficerTrustee | 0.5 | $0 |
Pamela Adair Secretary | OfficerTrustee | 0.5 | $0 |
Bj Bernard Director | Trustee | 0.5 | $0 |
Belinda Ellsworth Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $123,593 |
| Related organizations | $0 |
| Government grants | $215,020 |
| All other contributions, gifts, grants, and similar amounts not included above | $507,278 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $845,891 |
| Total Program Service Revenue | $838,464 |
| Investment income | $55,157 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$10,962 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $116,349 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,849,985 |
| 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. | $100,769 |
| Compensation of current officers, directors, key employees. | $43,331 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $502,348 |
| Pension plan accruals and contributions | $13,252 |
| Other employee benefits | $57,757 |
| Payroll taxes | $48,346 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,585 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $277,702 |
| Advertising and promotion | $90,730 |
| Office expenses | $112,671 |
| Information technology | $49,782 |
| Royalties | $120,500 |
| Occupancy | $109,572 |
| Travel | $1,453 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $16,562 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $275,529 |
| Insurance | $44,667 |
| All other expenses | $86,362 |
| Total functional expenses | $2,053,608 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $94,889 |
| Savings and temporary cash investments | $200,508 |
| Pledges and grants receivable | $65,022 |
| Accounts receivable, net | $360 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $12,931 |
| Prepaid expenses and deferred charges | $43,878 |
| Net Land, buildings, and equipment | $6,200,143 |
| Investments—publicly traded securities | $1,374,244 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $395,886 |
| Total assets | $8,387,861 |
| Accounts payable and accrued expenses | $54,481 |
| Grants payable | $0 |
| Deferred revenue | $114,908 |
| 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 | $528,519 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $697,908 |
| Net assets without donor restrictions | $7,270,952 |
| Net assets with donor restrictions | $419,001 |
| 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 | $8,387,861 |