Virginia Opera Assoc Inc
- Assets
- $2.3m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 116
- Location
- Norfolk, VA
- Founding
- 03/1975
- Data as of
- 06/2021
- EIN
- 54-0985006
Organization Overview
Virginia Opera Assoc Inc is located in Norfolk, VA. The organization was established in 1975. 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 06/2021, Virginia Opera Assoc Inc employed 116 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Opera Assoc 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 06/2021, Virginia Opera Assoc Inc generated $3.7m 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 (7.7%) each year. All expenses for the organization totaled $2.2m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (14.8%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ATTRACT, EDUCATE, DEVELOP AND ENGAGE A DIVERSE BASE OF AUDIENCES, VOLUNTEERS AND PROFESSIONALS THROUGH THE PROMOTION AND PRODUCTION OF QUALITY OPERA PERFORMANCES IN THE COMMONWEALTH OF VIRGINIA.
Describe the Organization's Program Activity:
PERFORMANCE OF OPERAS FOR THE PUBLIC AS WELL AS CULTURAL EDUCATION PROGRAMS FOR STUDENTS AND OTHER GROUPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Russell P Allen President & CEO (former) | 40 | $173,708 | |
Peggy Kriha Dye General Director & CEO | OfficerTrustee | 40 | $31,119 |
Paul Winslow Vice Chair | OfficerTrustee | 0.5 | $0 |
Michael Lott Treasurer | OfficerTrustee | 0.5 | $0 |
Deborah Wyld Chair | OfficerTrustee | 0.5 | $0 |
Gwen Burroughs Secretary | OfficerTrustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Virginia Symphony Musical Service | 6/29/19 | $332,533 |
Richmond Symphony Musical Service | 6/29/19 | $110,840 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $801,026 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,962,270 |
| Noncash contributions included in lines 1a–1f | $100,560 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,763,296 |
| Total Program Service Revenue | $10,588 |
| Investment income | $2 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $12,368 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,182 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,745,037 |
| 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. | $831,223 |
| Compensation of current officers, directors, key employees. | $280,635 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $302,537 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $55,618 |
| Payroll taxes | $93,485 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $26,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $220,772 |
| Advertising and promotion | $75,983 |
| Office expenses | $72,938 |
| Information technology | $55,186 |
| Royalties | $0 |
| Occupancy | $158,042 |
| Travel | $12,050 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $839 |
| Interest | $5,802 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $62,683 |
| Insurance | $68,800 |
| All other expenses | $0 |
| Total functional expenses | $2,169,818 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,115,447 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $795,511 |
| Accounts receivable, net | $58,264 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $7,340 |
| Prepaid expenses and deferred charges | $116,814 |
| Net Land, buildings, and equipment | $151,551 |
| Investments—publicly traded securities | $5,286 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,806 |
| Total assets | $2,261,019 |
| Accounts payable and accrued expenses | $629,027 |
| Grants payable | $0 |
| Deferred revenue | $508,921 |
| 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 | $154,177 |
| Other liabilities | $299,000 |
| Total liabilities | $1,591,125 |
| Net assets without donor restrictions | -$1,476,656 |
| Net assets with donor restrictions | $2,146,550 |
| 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 | $2,261,019 |
Grants Recieved
Over the last fiscal year, we have identified 15 grants that Virginia Opera Assoc Inc has recieved totaling $587,307.
| Awarding Organization | Amount |
|---|---|
Hampton Roads Community Foundation Norfolk, VA PURPOSE: FOR GENERAL SUPPORT | $200,000 |
Hampton Roads Community Foundation Norfolk, VA PURPOSE: FOR GENERAL OPERATING SUPPORT | $150,000 |
Business Consortium For Arts Supp Norfolk, VA PURPOSE: ART SUPPORT | $97,020 |
The Community Foundation Inc Richmond, VA PURPOSE: GENERAL PURPOSES | $68,602 |
Hampton Roads Community Foundation Norfolk, VA PURPOSE: 2021 DESIGNATED DISTRIBUTION | $22,817 |
Cultureworks Inc Richmond, VA PURPOSE: Support Excellence in the Arts in the Richmond Region | $16,382 |
Endowment Analysis
| Beg. Balance | $27,917 |
| Net Contributions | $1,915 |
| Ending Balance | $29,832 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Virginia Opera Assoc Inc Norfolk, VA | $2,261,019 | $3,745,037 |
Kentucky Opera Association Inc Louisville, KY | $4,939,443 | $2,050,260 |
Nashville Opera Association Nashville, TN | $10,829,028 | $1,740,899 |
Opera Carolina Charlotte, NC | $1,027,140 | $1,727,592 |
Knoxville Opera Company Knoxville, TN | $1,743,174 | $1,430,096 |
Opera Memphis Inc Memphis, TN | $5,037,117 | $1,438,726 |
Greensboro Opera Company Greensboro, NC | $506,881 | $836,842 |
Washington Concert Opera Washington, DC | $1,135,902 | $609,640 |
North Carolina Opera Inc Raleigh, NC | $458,261 | $583,965 |
Piedmont Opera Inc Winstonsalem, NC | $1,581,602 | $756,973 |
Baltimore Concert Opera Inc Baltimore, MD | $582,728 | $367,898 |
Opera Roanoke Roanoke, VA | $706,514 | $476,651 |