Chicago Opera Theater
- Assets
- $1.8m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 66
- Location
- Chicago, IL
- Founding
- 10/1974
- Data as of
- 08/2021
- EIN
- 23-7354963
Organization Overview
Chicago Opera Theater is located in Chicago, IL. The organization was established in 1974. 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 08/2021, Chicago Opera Theater employed 66 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chicago Opera Theater 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, Chicago Opera Theater generated $2.7m 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 (6.2%) each year. All expenses for the organization totaled $2.4m during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (0.1%) 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
CHICAGO OPERA THEATER EXPANDS THE TRADITION OF OPERA AS A LIVING ART FORM BY ENGAGING LOVERS OF MUSIC AND STORYTELLING THROUGH INNOVATIVE EXPERIENCES, PREDOMINANTLY OF NEW AND RARELY PERFORMED WORKS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRODUCTION: SINCE ITS FOUNDING IN 1973, IN A CITY WHERE STOREFRONT THEATERS AND GLOBAL ICONS THRIVE SIDE BY SIDE, COT HAS GROWN FROM A GRASSROOTS, COMMUNITY-BASED COMPANY TO A NATIONAL LEADER IN AN INCREASINGLY VIBRANT, DIVERSE, AND FORWARD-LOOKING ART FORM. COT HAS STAGED OVER 150 OPERAS, INCLUDING 78 CHICAGO PREMIERES AND 45 OPERAS BY AMERICAN COMPOSERS.IN ADDITION TO ITS MAINSTAGE SEASON, COT IS DEVOTED TO THE DEVELOPMENT AND PRODUCTION OF NEW OPERA IN THE UNITED STATES THROUGH ITS VANGUARD INITIATIVE, LAUNCHED IN 2018. THE VANGUARD INITIATIVE TRAINS EMERGING OPERA COMPOSERS, INVESTS TIME AND TALENT IN NEW OPERA AT VARIOUS STAGES OF THE CREATIVE PROCESS, AND OPENS UP OPPORTUNITIES FOR CHICAGO AUDIENCES TO BECOME PART OF THE DEVELOPMENT OF NEW WORK, IN DIALOGUE WITH THE CREATORS THEMSELVES.
EDUCATIONAL PROGRAMS:OPERA FOR ALL - OPERA FOR ALL (OFA) IS AN ELEMENTARY PROGRAM FOR CHICAGO PUBLIC SCHOOL STUDENTS. OFA INSPIRES STUDENTS TO UNDERSTAND THE ART BY PARTICIPATING IN IT, BOTH IN PRODUCTION AND IN PERFORMANCE.
OTHER PROGRAMS:COT YOUNG ARTISTS - THE COT/CCPA YOUNG ARTIST PROGRAM IS A SPECIALIZED OPPORTUNITY FOR DEVELOPING PIANISTS AND SINGERS. IT ALLOWS DEVELOPING ARTISTS WITH EXCEPTIONAL CAREER PROMISE AND MASTERY OF BASIC SKILLS TO FOCUS ON ALL AREAS OF THEIR ARTISTIC GROWTH. THE PROGRAM AFFORDS THEM PROFESSIONAL EXPERIENCE, PARTICULARLY IN THE DEVELOPMENT AND PERFORMANCE OF INNOVATIVE NEW WORK, WHILE ALSO SUPPORTING THEM WITH VOICE LESSONS, VOCAL COACHING, AND DRAMATIC TRAINING FROM THE ILLUSTRIOUS MUSIC AND PERFORMANCE FACULTY AT CCPA.EMERGNG COMPOSERS - CHICAGO OPERA THEATER'S VANGUARD EMERGING OPERA COMPOSER RESIDENCY IS A TWO-YEAR DEVELOPMENT PROGRAM THAT PLACES AN EMPHASIS ON BUILDING SKILLS AND CONNECTIONS FOR EMERGING OPERA COMPOSERS IN CHICAGO AND THE MIDWEST. THE PROGRAM AIMS TO BRIDGE THE GAP BETWEEN GENERAL COMPOSITIONAL SKILLS TAUGHT IN UNIVERSITY MUSIC PROGRAMS AND THE REAL-WORLD OBSERVATION AND EXPERIENCE THAT HELP INFORM AN OPERATIC COMPOSER'S WORK. LAUNCHED IN 2018, THE PROGRAM IDENTIFIES SKILLED COMPOSERS WHO HAVE NOT YET HAD SUFFICIENT OPPORTUNITIES FOR WRITING OPERA AND PROVIDES THEM WITH A TWO-YEAR COMPREHENSIVE COURSE OF STUDY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ashley Magnus General Director | Officer | 40 | $108,939 |
Allen Heinemann Secretary | OfficerTrustee | 1 | $0 |
Susan Irion President | OfficerTrustee | 1 | $0 |
Roger Baskes Member | Trustee | 1 | $0 |
Paul Freehling Member | Trustee | 1 | $0 |
Jim Mccormick Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $75,015 |
| Related organizations | $0 |
| Government grants | $662,750 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,911,900 |
| Noncash contributions included in lines 1a–1f | $53,779 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,649,665 |
| Total Program Service Revenue | $69,635 |
| Investment income | $983 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$18,717 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,733,025 |
| 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. | $108,940 |
| Compensation of current officers, directors, key employees. | $32,682 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $739,629 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $52,154 |
| Payroll taxes | $68,882 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,626 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $418,608 |
| Advertising and promotion | $7,844 |
| Office expenses | $39,237 |
| Information technology | $0 |
| Royalties | $2,090 |
| Occupancy | $103,393 |
| Travel | $74,519 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,136 |
| Insurance | $32,522 |
| All other expenses | $11,055 |
| Total functional expenses | $2,378,350 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $72,010 |
| Savings and temporary cash investments | $389,323 |
| Pledges and grants receivable | $1,016,154 |
| Accounts receivable, net | $19,725 |
| 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 | $301,974 |
| Net Land, buildings, and equipment | $5,335 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,804,521 |
| Accounts payable and accrued expenses | $69,439 |
| Grants payable | $0 |
| Deferred revenue | $155,832 |
| 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 | $225,271 |
| Net assets without donor restrictions | $394,080 |
| Net assets with donor restrictions | $1,185,170 |
| 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 | $1,804,521 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Chicago Opera Theater has recieved totaling $672,522.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $453,000 |
John R Halligan Charitable Fund Bannockburn, IL PURPOSE: UNRESTRICTED FOR GENERAL USE OF CHARITY | $50,000 |
Edlis-Neeson Foundation Nfp Chicago, IL PURPOSE: UNRESTRICTED | $50,000 |
Frankel Foundation Chicago, IL PURPOSE: GENERAL OPERATING PURPOSES | $50,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $30,000 |
Robert And Isabelle Bass Foundation Inc Chicago, IL PURPOSE: SUPPORT FOR WORK, | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Florentine Opera Co Inc Milwaukee, WI | $7,598,617 | $5,457,526 |
Chicago Opera Theater Chicago, IL | $1,804,521 | $2,733,025 |
Kentucky Opera Association Inc Louisville, KY | $4,939,443 | $2,050,260 |
Madison Opera Inc Madison, WI | $2,864,319 | $1,938,281 |
Music Theater Works Wilmette, IL | $813,169 | $1,440,067 |
Indianapolis Opera Company Indianapolis, IN | $3,256,088 | $1,429,356 |
Chamber Opera Of Chicago Chicago, IL | $429,252 | $422,110 |
Pella Opera House Commission Pella, IA | $2,774,493 | $769,782 |