Fairmont Opera House Inc
- Assets
- $1.9m
- Revenue
- $510.7k
- Investments
- $0.0
- Employees
- 8
- Location
- Fairmont, MN
- Founding
- 12/1981
- Data as of
- 06/2022
- EIN
- 41-1408912
Organization Overview
Fairmont Opera House Inc is located in Fairmont, MN. The organization was established in 1981. According to its NTEE Classification (A61) the organization is classified as: Performing Arts Centers, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Fairmont Opera House Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fairmont Opera House 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 06/2022, Fairmont Opera House Inc generated $510.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.8% each year . All expenses for the organization totaled $694.0k during the year ending 06/2022. While expenses have increased by 16.9% 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
SEE PAGE 2, PART III, LINE 1.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HISTORIC PRESERVATION AND VENUE TO PROVIDE SHOW FOR THE GENERAL PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Edman Chair | Officer | 4 | $0 |
Bob Leudtke Vice Chair | Officer | 4 | $0 |
Jane Reiman Treasurer | Officer | 4 | $0 |
Beth Neist Secretary | Officer | 4 | $0 |
Joanne Woodward Director At | Trustee | 2 | $0 |
Justin Miller Director At | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $179,055 |
| All other contributions, gifts, grants, and similar amounts not included above | $139,001 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $318,056 |
| Total Program Service Revenue | $151,555 |
| Investment income | $33,174 |
| 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 | $5,521 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $510,715 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $149,882 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,681 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,130 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,785 |
| Fees for services: Other | $231,826 |
| Advertising and promotion | $35,383 |
| Office expenses | $39,280 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $74,345 |
| Travel | $16,131 |
| 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 | $27,995 |
| Insurance | $4,523 |
| All other expenses | $18,495 |
| Total functional expenses | $694,046 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $480 |
| Savings and temporary cash investments | $15,139 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $850 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,325 |
| Prepaid expenses and deferred charges | $8,794 |
| Net Land, buildings, and equipment | $595,783 |
| Investments—publicly traded securities | $1,323,077 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,946,448 |
| Accounts payable and accrued expenses | $22,989 |
| 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 | $0 |
| Total liabilities | $22,989 |
| Net assets without donor restrictions | $1,409,041 |
| Net assets with donor restrictions | $514,418 |
| 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 | $1,946,448 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Fairmont Opera House Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Bevcomm Foundation Blue Earth, MN PURPOSE: TECHNOLOGY | $5,000 |
Endowment Analysis
| Beg. Balance | $1,320,154 |
| Earnings | -$151,040 |
| Admin Expense | $4,785 |
| Other Expense | $5,000 |
| Ending Balance | $1,159,329 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ordway Center For The Performing Arts Saint Paul, MN | $66,666,400 | $23,193,100 |
Fox Cities Performing Arts Center Inc Appleton, WI | $82,069,378 | $12,172,619 |
Confluence Council Inc Eau Claire, WI | $3,541,289 | $9,499,634 |
The Cowles Center Minneapolis, MN | $25,707,590 | $3,628,768 |
Sharon Lynne Wilson Center For The Arts Inc Brookfield, WI | $7,745,348 | $1,495,819 |
Professional Dairy Producers Of Wisconsin Inc Juneau, WI | $950,871 | $1,809,722 |
Firehouse Performing Arts Center Minneapolis, MN | $427,034 | $1,162,536 |
Pangea World Theater Minneapolis, MN | $3,888,394 | $2,394,735 |
Fairmont Opera House Inc Fairmont, MN | $1,946,448 | $510,715 |
The Grand Oshkosh Inc Oshkosh, WI | $717,158 | $1,144,310 |
Meyer Theater Corporation Green Bay, WI | $9,446,664 | $707,494 |
La Crosse Performing Arts Center Inc La Crosse, WI | $7,113,704 | $500,767 |