Opera Memphis Endowment Foundation
- Assets
- $316.8k
- Revenue
- $19.6k
- Investments
- $316.8k
- Employees
- 0
- Location
- Memphis, TN
- Founding
- 03/1987
- Data as of
- 09/2022
- EIN
- 58-1713898
Organization Overview
Opera Memphis Endowment Foundation is located in Memphis, TN. The organization was established in 1987. 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. Opera Memphis Endowment Foundation 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 09/2022, Opera Memphis Endowment Foundation generated $19.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (14.6%) each year. All expenses for the organization totaled $24.8k during the year ending 09/2022. 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 OPERA MEMPHIS, INC TO FURTHER THE DEVELOPMENT OF ARTISTIC AND MUSICAL TALENTS AND FOR THE CULTURAL EDUCATION AND ENTERTAINMENT OF THE GENERAL PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANT TO OPERA MEMPHIS, INC TO FURTHER THE DEVELOPMENT OF ARTISTIC AND MUSICAL TALENTS FOR THE CULTURAL EDUCATION AND ENTERTAINMENT OF THE GENERAL PUBLIC
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Anglin Board Chairman | OfficerTrustee | 1 | $0 |
Edward Canty General Director | Officer | 1 | $0 |
Paul K Guibao Trustee | Trustee | 1 | $0 |
Allen Morgan 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $3,897 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $15,731 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,628 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $21,936 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,887 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $0 |
| Total functional expenses | $24,823 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $316,791 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $316,791 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| 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 | $316,791 |
| Total liabilities and net assets/fund balances | $316,791 |
Endowment Analysis
| Beg. Balance | $457,023 |
| Earnings | -$115,409 |
| Admin Expense | $2,887 |
| Grants | $21,936 |
| Ending Balance | $316,791 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Opera Theatre Of Saint Louis St Louis, MO | $111,453,146 | $9,625,492 |
The Atlanta Opera Inc Atlanta, GA | $26,985,184 | $12,248,438 |
Lyric Opera Of Kansas City Inc Kansas City, MO | $27,451,625 | $5,560,944 |
Springer Opera House Arts Association Inc Columbus, GA | $18,672,738 | $4,001,433 |
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 |
Opera Birmingham Birmingham, AL | $1,161,984 | $594,696 |
Greensboro Opera Company Greensboro, NC | $506,881 | $836,842 |