Des Moines Metro Opera Foundation Inc
- Assets
- $21.5m
- Revenue
- $2.4m
- Investments
- $144.1k
- Employees
- 0
- Location
- Indianola, IA
- Founding
- 04/1993
- Data as of
- 08/2022
- EIN
- 42-1376458
Organization Overview
Des Moines Metro Opera Foundation Inc is located in Indianola, IA. The organization was established in 1993. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Des Moines Metro Opera Foundation 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 08/2022, Des Moines Metro Opera Foundation Inc generated $2.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.6% each year . All expenses for the organization totaled $3.1m during the year ending 08/2022. While expenses have increased by 29.4% 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
TO SUPPORT THE OPERATIONS OF THE DES MOINES METRO OPERA, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINANCIAL SUPPORT OF THE DES MOINES METRO OPERA, INC. FOR OPERATING EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Voss President | OfficerTrustee | 1 | $0 |
Virginia Croskery Lauridsen President-Elect | OfficerTrustee | 1 | $0 |
Denise Wieland Treasurer | OfficerTrustee | 1 | $0 |
Barbara Cappaert Secretary | OfficerTrustee | 1 | $0 |
Craig Shadur Trustee | Trustee | 1 | $0 |
Diane Morain Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,213,442 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,213,442 |
| Total Program Service Revenue | $0 |
| Investment income | $278,768 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$62,881 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,429,329 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,039,673 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,825 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $36,571 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $83 |
| Information technology | $248 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $623 |
| Total functional expenses | $3,094,023 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $48,767 |
| Pledges and grants receivable | $3,865,762 |
| Accounts receivable, net | $23,831 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $16,982,024 |
| Investments—other securities | $144,066 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $406,762 |
| Total assets | $21,471,212 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $350,000 |
| 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 | $350,000 |
| Net assets without donor restrictions | $16,101,635 |
| Net assets with donor restrictions | $5,019,577 |
| 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 | $21,471,212 |
Grants Awarded
Over the last fiscal year, Des Moines Metro Opera Foundation Inc has awarded $695,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Indianola, IA PURPOSE: PRIMARY PURPOSE OF FOUNDATION | $570,000 |
Indianola, IA PURPOSE: THEATRE STAGE IMPROVEMENTS | $125,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Des Moines Metro Opera Foundation Inc has recieved totaling $600,879.
| Awarding Organization | Amount |
|---|---|
Thomas And Linda Koehn Foundation Des Moines, IA PURPOSE: GENERAL OPERATING FUND | $550,879 |
Independent Charitable Gift Fund Hudson, OH PURPOSE: GENERAL SUPPORT | $50,000 |
Endowment Analysis
| Beg. Balance | $23,566,191 |
| Earnings | $1,744,263 |
| Admin Expense | $36,571 |
| Net Contributions | $2,146,124 |
| Grants | $3,039,673 |
| Ending Balance | $24,380,334 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wisconsin Public Broadcasting Foundation Inc Madison, WI | $32,720,675 | $11,782,247 |
Wisconsin History Foundation Inc Madison, WI | $57,186,900 | $14,378,166 |
Opas Foundation Omaha, NE | $216,930,638 | $54,646,266 |
St Louis Art Museum Foundation St Louis, MO | $296,394,608 | $22,752,701 |
Oakleaf Endowment Tr Fbo Minnesota Orchestra 063097 Minneapolis, MN | $81,273,856 | $10,271,429 |
Overture Center Foundation Inc Madison, WI | $20,998,721 | $8,215,874 |
Friends Of South Dakota Public Broadcasting Sioux Falls, SD | $8,253,361 | $5,354,022 |
Overture Development Corporation Madison, WI | $128,656,351 | $0 |
Des Moines Metro Opera Foundation Inc Indianola, IA | $21,471,212 | $2,429,329 |
Mariners Museum Tr No 2 P03152009 Chicago, IL | $40,886,491 | $1,565,814 |
World Chess Museum Inc St Louis, MO | $1,624,573 | $2,628,298 |
John R Vanderlip Trust Uw 5006 Nect Milwaukee, WI | $35,603,983 | $4,156,554 |