Fairmont Opera House Inc
- Assets
- $2.1m
- Revenue
- $478.9k
- Investments
- $0.0
- Employees
- 8
- Location
- Fairmont, MN
- Founding
- 12/1981
- Data as of
- 06/2023
- 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 06/2023, 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 06/2023, Fairmont Opera House Inc generated $478.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.7% each year . All expenses for the organization totaled $498.1k during the year ending 06/2023. While expenses have increased by 11.5% 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
2023
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.
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 |
|---|---|---|---|
Bob Luedtke Chair | Officer | 4 | $0 |
Samantha Werre Vice Chair | Officer | 4 | $0 |
Jane Reiman Treasurer | Officer | 4 | $0 |
Michael Edman Director At | Trustee | 2 | $0 |
Seth Becker Director At | Trustee | 2 | $0 |
Zach Peterson Director At | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $151,797 |
| All other contributions, gifts, grants, and similar amounts not included above | $168,585 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $320,382 |
| Total Program Service Revenue | $106,042 |
| Investment income | $48,100 |
| 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 | $54 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $478,877 |
| 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 | $117,906 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,101 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,484 |
| Fees for services: Accounting | $5,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,417 |
| Fees for services: Other | $129,802 |
| Advertising and promotion | $23,486 |
| Office expenses | $38,925 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $71,050 |
| Travel | $16,119 |
| 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 | $30,611 |
| Insurance | $6,436 |
| All other expenses | $3,127 |
| Total functional expenses | $498,111 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,952 |
| Savings and temporary cash investments | $68,487 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,533 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,963 |
| Prepaid expenses and deferred charges | $22,430 |
| Net Land, buildings, and equipment | $575,564 |
| Investments—publicly traded securities | $1,255,015 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $176,282 |
| Total assets | $2,107,226 |
| Accounts payable and accrued expenses | $133,723 |
| 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 | $133,723 |
| Net assets without donor restrictions | $1,463,085 |
| Net assets with donor restrictions | $510,418 |
| 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 | $2,107,226 |