Los Angeles Opera Company
- Assets
- $101.7m
- Revenue
- $46.2m
- Investments
- $24.2m
- Employees
- 725
- Location
- Los Angeles, CA
- Founding
- 05/1960
- Data as of
- 06/2022
- EIN
- 95-2096402
Organization Overview
Los Angeles Opera Company is located in Los Angeles, CA. The organization was established in 1960. 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, Los Angeles Opera Company employed 725 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Los Angeles Opera Company 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 06/2022, Los Angeles Opera Company generated $46.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $47.8m during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE LOS ANGELES OPERA COMPANY (LA OPERA) IS A NON-PROFIT ENTITY. SEE SCHEDULE O ORGANIZED TO PROVIDE AN OPPORTUNITY FOR ALL TO ENJOY THE RICH EMOTIONAL AND CULTURAL EXPERIENCE OF OPERA.
Describe the Organization's Program Activity:
OPERA: THE COMPANY PERFORMED 36 OPERA PERFORMANCES FOR THE FISCAL YEAR ENDED JUNE 30, 2022. THE COMPANY SOLD OVER 51,000 TICKETS TO MAINSTAGE OPERAS DURING THE YEAR, GENERATING REVENUE OF OVER $7 MILLION.
THE YOUNG ARTIST PROGRAM SEEKS TO SUPPORT AND DEVELOP THE CAREERS OF PROMISING SINGERS AND PIANISTS. THIS RESIDENCY PROGRAM PROVIDES EXTENSIVE TRAINING AND PERFORMANCE EXPERIENCE THROUGH MAIN-STAGE ROLES,COVER ROLES, CONCERTS AND OTHER PRODUCTIONS. DURING THE YEAR, TWELVE ARTISTS WERE GIVEN 46 MAIN-STAGE ASSIGNMENTS (ROLES, COVERS) AND PERFORMED IN MORE THAN 24 RECITALS THROUGHOUT THE COMMUNITY.
OTHER ARTISTIC PROGRAMS (RECITALS AND OFF GRAND): THE COMPANY PRESENTS OPERAS BOTH DIGITALLY AND IN PERSON IN A VARIETY OF LOCATIONS TO INCREASE ACCESSIBILITY, EXPAND THE AUDIENCE, AND PROMOTE THE ART FORM. THESE ACTIVITIES INCLUDE OUR "OFF GRAND" PROGRAMS AND RECITALS FEATURING WORLD RENOWNED OPERA SINGERS. THE COMPANY HELD 13 PERFORMANCES DURING THE FISCAL YEAR, SELLING OVER 13,000 TICKETS WHICH GENERATED OVER $955K OF REVENUE.
LA OPERA CONNECTS: LA OPERA CONNECTS IS A PROGRAMMING WING FOCUSING ON EQUITABLE ACCESS TO OPERA, PROVIDING UNIQUE PROGRAMS TO STUDENTS, CHILDREN, AND FAMILIES, AMONGST OTHER AUDIENCES, IN THE LOS ANGELES REGION. IN THE 2021-2022 SEASON, LA OPERA PARTNERED WITH NUMEROUS SCHOOLS AND COMMUNITY ORGANIZATIONS TO PROVIDE PROGRAMMING TO OVER 130,000 INDIVIDUALS. PROGRAMS INCLUDED ARTS AND HEALTHCARE PROGRAMS, STUDENT FIELD TRIPS, PUBLIC PERFORMANCES, AND COMMUNITY OPERA ENSEMBLES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Conlon Ex.off.dir. See Sch. J Pt. Iii | Trustee | 20 | $541,742 |
Christopher Koelsch Ex.officio Dir, Pres & CEO | OfficerTrustee | 40 | $339,155 |
Marc I Stern Honorary Chairman | OfficerTrustee | 10 | $0 |
Keith R Leonard Chairman Of Exec Committee | OfficerTrustee | 10 | $0 |
Bernard A Greenberg Vice Chairman Emeritus | OfficerTrustee | 5 | $0 |
Sebastian Paul Musco Thru 91921 Vice Chairman | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Daz Investment Lcc Warehouse Storage | 6/29/22 | $265,760 |
112 Beverly Llc Costume Shop Rent | 6/29/22 | $696,929 |
Amadeus Music Production Corp Artist | 6/29/22 | $541,742 |
Special Occasions Event Planning Llc Event Planning | 6/29/22 | $429,985 |
Levy Restaurants Catering | 6/29/22 | $199,842 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $3,496,662 |
| Related organizations | $0 |
| Government grants | $4,818,846 |
| All other contributions, gifts, grants, and similar amounts not included above | $22,977,623 |
| Noncash contributions included in lines 1a–1f | $3,526,838 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,293,131 |
| Total Program Service Revenue | $8,700,522 |
| Investment income | $1,525,690 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $624,406 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$1,180,771 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $46,172,417 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $60,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,429,695 |
| Compensation of current officers, directors, key employees. | $739,246 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $23,006,845 |
| Pension plan accruals and contributions | $1,159,561 |
| Other employee benefits | $2,506,689 |
| Payroll taxes | $1,220,516 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $743,369 |
| Fees for services: Accounting | $168,357 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $143,500 |
| Fees for services: Investment Management | $103,421 |
| Fees for services: Other | $1,799,159 |
| Advertising and promotion | $1,445,519 |
| Office expenses | $712,684 |
| Information technology | $256,703 |
| Royalties | $0 |
| Occupancy | $3,106,053 |
| Travel | $1,021,201 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,713 |
| Interest | $174,854 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $506,171 |
| Insurance | $418,084 |
| All other expenses | $160,690 |
| Total functional expenses | $47,787,630 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,782,115 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $31,687,684 |
| Accounts receivable, net | $2,000,410 |
| 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 | $2,479,830 |
| Net Land, buildings, and equipment | $1,082,110 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $24,230,609 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $37,443,614 |
| Total assets | $101,706,372 |
| Accounts payable and accrued expenses | $5,823,397 |
| Grants payable | $0 |
| Deferred revenue | $4,747,118 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $33,333 |
| Secured mortgages and notes payable | $3,750,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $14,353,848 |
| Net assets without donor restrictions | -$7,821,462 |
| Net assets with donor restrictions | $95,173,986 |
| 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 | $101,706,372 |