Florentine Opera Co Inc
- Assets
- $8.3m
- Revenue
- $2.8m
- Investments
- $1.3m
- Employees
- 118
- Location
- Milwaukee, WI
- Founding
- 09/1968
- Data as of
- 06/2023
- EIN
- 39-1098132
Organization Overview
Florentine Opera Co Inc is located in Milwaukee, WI. The organization was established in 1968. 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 06/2023, Florentine Opera Co Inc employed 118 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Florentine Opera Co 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 06/2023, Florentine Opera Co Inc generated $2.8m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $2.9m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (0.3%) per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE FLORENTINE OPERA COMPANY IS DRIVEN TO PRODUCE THE FULL RANGE OF OPERATIC WORKS REFLECTING THE HIGHEST MUSICAL AND THEATRICAL STANDARDS, AND TO SUPPORT COMMUNITY AND EDUCATION PROGRAMS THAT FOSTER THE CURRENT AND NEXT GENERATION OF OPERA AUDIENCES AND PRACTITIONERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERA CONTINUES TO BE A DRAMATIC, IMMERSIVE EXPERIENCE, AND THEREFORE HOLDS SO MANY PARALLELS TO THE RAPIDLY CHANGING LIVES WERE UNDERGOING, AS A COMPANY AND AS INDIVIDUALS. IN AN ERA THAT CALLS FOR RAPID CHANGE AND ADAPTATION, WE ARE PROUD OF WHAT WE HAVE ACCOMPLISHED. THE ARTISTIC AND COMMUNITY TOUCHPOINTS THAT REPRESENT FISCAL 2022 RANGE FROM COMPANY PREMIERES TO SCHOOL CHILDREN DEBUTS. WE FOUND SOLUTIONS TO CHALLENGES THAT AT TIMES FELT IMPOSSIBLE. OUR ABILITY TO MAP NEW PATHS, TO RESPONSIBLY STEWARD OUR BUDGET, AND TO BRING THE FULL OPERA EXPERIENCE TO MILWAUKEE CAN ONLY GROW AS WE MOVE FORWARD WITH EVERYTHING WE HAVE LEARNED IN THE PAST SEASONS. THE MAGIC OF RAVEL'S GARDEN SCENE COMPLETE WITH FROG DANCE AND THE THRILLING PIANISSIMO OF JESSICA JONES' GILDA IN RIGOLETTO WILL STAY WITH THE FLORENTINE FOR A LONG TIME.
THE FLORENTINE OPERA COMPANY'S PROGRAMS REACH A BROAD SPECTRUM OF INDIVIDUALS THROUGHOUT METRO MILWAUKEE, SOUTHEASTERN WISCONSIN, AND BEYOND. LAST YEAR, OUR EDUCATIONAL TOUR WAS OFFERED IN A DIGITAL FORMAT AN REACHED OVER 20,000 HOUSEHOLDS. THE COMPANY PROVIDES A VITAL ADDITION TO LOCAL ARTS EDUCATION--BOTH IN THE CLASSROOM AND ON THE STAGE. THE FLORENTINE OPERA COMPANY'S EDUCATION DEPARTMENT IS COMMITTED TO PROVIDING EDUCATORS WITH OPPORTUNITIES TO UTILIZE OPERA TO MEET EDUCATIONAL STANDARDS, AS WELL AS TO ENHANCE LEARNING FOR ALL STUDENTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Catherine Costantini President | OfficerTrustee | 2 | $0 |
Dr Peter Drescher Past President | OfficerTrustee | 2 | $0 |
Dr David Paris President Elect | OfficerTrustee | 2 | $0 |
Jan Wade VP Of Finance & Treasurer | OfficerTrustee | 2 | $0 |
Wendy Burke VP Of Human Resources | OfficerTrustee | 2 | $0 |
Raechell Thuot VP Of Marketing & Audience Dev. | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $355,469 |
| Related organizations | $0 |
| Government grants | $24,957 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,982,570 |
| Noncash contributions included in lines 1a–1f | $12,404 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,362,996 |
| Total Program Service Revenue | $308,996 |
| Investment income | $163,951 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $32,209 |
| Net Income from Fundraising Events | -$26,076 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,842,076 |
| 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. | $222,620 |
| Compensation of current officers, directors, key employees. | $118,293 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,338,126 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $33,378 |
| Payroll taxes | $77,954 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,242 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $36,434 |
| Fees for services: Other | $48,948 |
| Advertising and promotion | $101,254 |
| Office expenses | $189,941 |
| Information technology | $35,011 |
| Royalties | $0 |
| Occupancy | $378,731 |
| Travel | $64,676 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $42,468 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,485 |
| Insurance | $39,366 |
| All other expenses | $10,933 |
| Total functional expenses | $2,875,330 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $249,348 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $298,299 |
| 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 | $129,287 |
| Net Land, buildings, and equipment | $25,253 |
| Investments—publicly traded securities | $5,869,324 |
| Investments—other securities | $1,266,784 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $468,994 |
| Total assets | $8,307,289 |
| Accounts payable and accrued expenses | $48,087 |
| Grants payable | $0 |
| Deferred revenue | $255,599 |
| 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 | $462,070 |
| Total liabilities | $765,756 |
| Net assets without donor restrictions | $3,873,948 |
| Net assets with donor restrictions | $3,667,585 |
| 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 | $8,307,289 |