Cedar Rapids Opera Theatre
- Assets
- $144.8k
- Revenue
- $305.3k
- Investments
- $0.0
- Employees
- 1
- Location
- Cedar Rapids, IA
- Founding
- 08/1998
- Data as of
- 08/2021
- EIN
- 42-1476568
Organization Overview
Cedar Rapids Opera Theatre is located in Cedar Rapids, IA. The organization was established in 1998. According to its NTEE Classification (A6A) the organization is classified as: Opera, 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. Cedar Rapids Opera Theatre 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 08/2021, Cedar Rapids Opera Theatre generated $305.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.0%) each year. All expenses for the organization totaled $184.6k during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (10.9%) per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE CEDAR RAPIDS OPERA THEATRE IS TO ADVANCE OPERA AS A VITAL, LIVING AMERICAN ART FORM AND TO DEVELOP THE ARTISTS WHO CREATE IT, AS WELL AS THE AUDIENCE THAT APPRECIATES AND SUPPORTS IT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL PROGRAMMING INCLUDES A PROFESSIONALLY STAGED OPERA, A CHILDREN'S OPERA, AND A YOUNG ARTISTS STAGED OPERA FEATURING YOUNG ARTISTS FROM ACROSS THE COUNTRY. PROGRAMS BENEFIT THE VIEWING AUDIENCE ALONG WITH THE YOUNG ARTISTS WHO RECEIVE VALUABLE STAGE EXPERIENCE.
ANNUAL PROGRAMMING INCLUDES A PROFESSIONALLY STAGED OPERA, A CHILDREN'S OPERA, AND A YOUNG ARTISTS STAGED OPERA FEATURING YOUNG ARTISTS FROM ACROSS THE COUNTRY. PROGRAMS BENEFIT THE VIEWING AUDIENCE ALONG WITH THE YOUNG ARTISTS WHO RECEIVE VALUABLE STAGE EXPERIENCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Kleinknecht Board Member | Trustee | 1 | $15,600 |
Virginia Michalicek Vice Preside | OfficerTrustee | 1 | $15,000 |
Gail Williams Board Member | Trustee | 1 | $1,500 |
Nancy Hill Cobb Board Member | Trustee | 1 | $1,000 |
David Caves President | OfficerTrustee | 1 | $0 |
Connor Grask Co-Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $29,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $275,599 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $305,099 |
| Total Program Service Revenue | $250 |
| Investment income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $305,349 |
| 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. | $33,100 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $36,833 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,880 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,006 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $35,188 |
| Office expenses | $4,246 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,167 |
| 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 | $2,306 |
| Insurance | $11,548 |
| All other expenses | $5,646 |
| Total functional expenses | $184,584 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $143,321 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,439 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $144,760 |
| Accounts payable and accrued expenses | $5,470 |
| Grants payable | $0 |
| Deferred revenue | $12,500 |
| 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 | $17,970 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $126,790 |
| Total liabilities and net assets/fund balances | $144,760 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cedar Rapids Opera Theatre has recieved totaling $50.
| Awarding Organization | Amount |
|---|---|
First Interstate Bancsystem Foundation Inc Billings, MT PURPOSE: GENERAL OPERATING SUPPORT | $50 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lyric Opera Of Chicago Chicago, IL | $270,226,178 | $60,302,671 |
The Minnesota Opera Minneapolis, MN | $36,038,130 | $16,099,693 |
Opera Theatre Of Saint Louis St Louis, MO | $111,453,146 | $9,625,492 |
Lyric Opera Of Kansas City Inc Kansas City, MO | $27,451,625 | $5,560,944 |
Des Moines Metro Opera Inc Indianola, IA | $7,229,930 | $5,531,970 |
Skylight Music Theatre Corp Milwaukee, WI | $3,450,356 | $3,977,944 |
Opera Omaha Inc Omaha, NE | $8,293,157 | $5,327,192 |
Florentine Opera Co Inc Milwaukee, WI | $7,598,617 | $5,457,526 |
Chicago Opera Theater Chicago, IL | $1,804,521 | $2,733,025 |
Madison Opera Inc Madison, WI | $2,864,319 | $1,938,281 |
Music Theater Works Wilmette, IL | $813,169 | $1,440,067 |
Chamber Opera Of Chicago Chicago, IL | $429,252 | $422,110 |