Piedmont Opera Inc
- Assets
- $1.6m
- Revenue
- $757.0k
- Investments
- $187.4k
- Employees
- 9
- Location
- Winstonsalem, NC
- Founding
- 06/1977
- Data as of
- 06/2021
- EIN
- 59-1743689
Organization Overview
Piedmont Opera Inc is located in Winstonsalem, NC. The organization was established in 1977. 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 06/2022, Piedmont Opera Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Piedmont Opera 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, Piedmont Opera Inc generated $757.0k 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 (3.9%) each year. All expenses for the organization totaled $519.4k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (7.7%) per year over the past 7 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
OPERA PRODUCTION AND PROMOTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERA PRODUCTION AND RELATED EVENTS - HIRE PROFESSIONAL CAST, ORCHESTRA, STAGE DIRECTOR, TECHNICAL CREW, THEATRE AND FACILITIES TO STAGE EVENTS.
YOUTH CHORUS - TO ENGAGE AND DEVELOP YOUTH FROM DIVERSE BACKGROUNDS AND ENRICH THEIR LIVES BY INSPIRING EXCELLENCE IN CHORAL MUSIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Allbritten General Dire | Officer | 40 | $75,000 |
Jessica Good President | OfficerTrustee | 2 | $0 |
Frank Dickerson VP Finance | OfficerTrustee | 2 | $0 |
Wendy Poteat VP Dei | OfficerTrustee | 2 | $0 |
Ed Hanes VP Strategic | OfficerTrustee | 2 | $0 |
Cynthia Rothschild VP Legal | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $692,284 |
| Investment income | $7,738 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $21,648 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $756,973 |
| Statement of Expenses | |
|---|---|
| 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. | $75,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $185,228 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $20,175 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,340 |
| Advertising and promotion | $23,545 |
| Office expenses | $41,085 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,913 |
| 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 | $8,710 |
| Insurance | $11,259 |
| All other expenses | $0 |
| Total functional expenses | $519,395 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $304,580 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,218 |
| 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 | $15,082 |
| Investments—publicly traded securities | $662,105 |
| Investments—other securities | $187,386 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,581,602 |
| Accounts payable and accrued expenses | $3,787 |
| Grants payable | $0 |
| Deferred revenue | $2,951 |
| 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 | $65,393 |
| Other liabilities | $0 |
| Total liabilities | $72,131 |
| 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 |
| Total liabilities and net assets/fund balances | $1,509,471 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Piedmont Opera Inc has recieved totaling $134,492.
| Awarding Organization | Amount |
|---|---|
Winston-Salem Foundation Winstonsalem, NC PURPOSE: 50 GRANT(S) FOR VARYING PURPOSES | $134,492 |
Endowment Analysis
| Beg. Balance | $207,370 |
| Earnings | -$31,617 |
| Admin Expense | -$2,859 |
| Net Contributions | $134,000 |
| Grants | -$11,125 |
| Ending Balance | $295,768 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Atlanta Opera Inc Atlanta, GA | $26,985,184 | $12,248,438 |
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 |
Newberry Opera House Foundation Inc Newberry, SC | $5,917,873 | $3,673,500 |
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 |
North Carolina Opera Inc Raleigh, NC | $458,261 | $583,965 |
Piedmont Opera Inc Winstonsalem, NC | $1,581,602 | $756,973 |
Opera Roanoke Roanoke, VA | $706,514 | $476,651 |