Cincinnati Opera Association
- Assets
- $40.4m
- Revenue
- $5.1m
- Investments
- $9.6m
- Employees
- 42
- Location
- Cincinnati, OH
- Founding
- 11/1942
- Data as of
- 08/2020
- EIN
- 31-0549044
Organization Overview
Cincinnati Opera Association is located in Cincinnati, OH. The organization was established in 1942. 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, Cincinnati Opera Association employed 42 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cincinnati Opera Association 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 08/2020, Cincinnati Opera Association generated $5.1m 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 (8.5%) each year. All expenses for the organization totaled $6.2m during the year ending 08/2020. As we would expect to see with falling revenues, expenses have declined by (5.2%) 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO ENRICH AND CONNECT THE COMMUNITY THROUGH DIVERSE OPERA EXPERIENCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AFTER CANCELING ITS 100TH-ANNIVERSARY CELEBRATIONS IN 2020, DUE TO THE COVID-19 PANDEMIC, CINCINNATI OPERA WAS DETERMINED TO SHARE LIVE, IN-PERSON OPERA WITH THE COMMUNITY AGAIN IN 2021. THE COMPANY REIMAGINED ITS 2021 SUMMER FESTIVAL AS THE FIRST-EVER, ALL-OUTDOOR SUMMER AT SUMMIT, LOCATED AT SUMMIT PARK IN BLUE ASH, OHIO. OVER TEN SOLD-OUT EVENINGS, UNDER THE MOON AND STARS, 265 OF THE WORLD'S GREATEST ARTISTS AND CREATIVES CAME TOGETHER TO SHARE MUSIC THAT HAD BEEN SO DEEPLY MISSED. PRODUCTIONS INCLUDED CARMEN, TOSCA, AND THE BARBER OF SEVILLE. AUDIENCES WERE OVER 11,000 PATRONS STRONG AND THE RESULT WAS, TO PUT IT SIMPLY, MAGICAL AND UNFORGETTABLE. PRIOR TO SUMMER AT SUMMIT, THE COMPANY ALSO PRESENTED ITS FIRST ALL-DIGITAL WINTER FESTIVAL, AS WELL AS LIVELY POP-UP PERFORMANCES BY THE SHARE THE LOVE TRUCK TOUR THROUGHOUT GREATER CINCINNATI.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher A Milligan General Director & CEO | Officer | 50 | $203,252 |
Evans J Mirageas Artistic Director | Officer | 50 | $203,144 |
Patricia K Beggs General Director & CEO - Left 8/20 | Officer | 50 | $196,610 |
Michael J Veroni Chief Financial Officer | Officer | 50 | $125,737 |
Glenn L Plott Director Of Production - Left 10/20 | 50 | $114,637 | |
Joseph F Peacock Director Of Patron Engagement | 50 | $106,830 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Anthem Blue Cross & Blue Shield Health Insurance | 8/30/20 | $229,250 |
Pnc Bank Credit Cards | 8/30/20 | $183,298 |
Cincinnati Symphony Orchestra Orchestra | 8/30/20 | $735,520 |
Cincinnati Symphony Orchestra Orchestra | 8/30/20 | $735,520 |
Pnc Bank Credit Cards | 8/30/20 | $183,298 |
Terra Firma - Reinhold Llc Warehouse Rent | 8/30/20 | $317,445 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,272,301 |
| Investment income | $806,800 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$386,106 |
| Net Income from Fundraising Events | $71,653 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,063,717 |
| 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. | $966,081 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,616,839 |
| Pension plan accruals and contributions | $27,422 |
| Other employee benefits | $176,816 |
| Payroll taxes | $200,824 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,153 |
| Fees for services: Accounting | $28,675 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,000 |
| Advertising and promotion | $184,249 |
| Office expenses | $81,819 |
| Information technology | $105,281 |
| Royalties | $0 |
| Occupancy | $514,811 |
| Travel | $72,263 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,627 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $87,650 |
| Insurance | $52,291 |
| All other expenses | $0 |
| Total functional expenses | $6,184,167 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $757,888 |
| Pledges and grants receivable | $1,885,496 |
| Accounts receivable, net | $169,540 |
| 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 | $266,226 |
| Investments—publicly traded securities | $22,646,744 |
| Investments—other securities | $9,590,351 |
| Investments—program-related | $1,617,878 |
| Intangible assets | $0 |
| Other assets | $11,014 |
| Total assets | $40,351,951 |
| Accounts payable and accrued expenses | $190,699 |
| Grants payable | $0 |
| Deferred revenue | $168,344 |
| 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 | $3,362,640 |
| Total liabilities | $3,721,683 |
| 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 | $36,630,268 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Cincinnati Opera Association has recieved totaling $11,350.
| Awarding Organization | Amount |
|---|---|
The Fullgraf Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $10,000 |
Peter And Mary Levin Family Foundation Cincinnati, OH PURPOSE: IN HONOR OF TED SILBERSTEIN | $1,250 |
Gannett Foundations Inc Mclean, VA PURPOSE: CHARITABLE PURPOSE | $100 |
Endowment Analysis
| Beg. Balance | $22,646,744 |
| Earnings | $4,796,044 |
| Admin Expense | $309,364 |
| Net Contributions | $406,023 |
| Other Expense | $1,657,572 |
| Ending Balance | $25,881,875 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Opera Philadelphia Philadelphia, PA | $10,821,353 | $11,047,971 |
Pittsburgh Opera Inc Pittsburgh, PA | $33,685,056 | $15,132,156 |
Cincinnati Opera Association Cincinnati, OH | $40,351,951 | $5,063,717 |
Civic Light Opera Association Pittsburgh, PA | $18,382,442 | $7,903,885 |
Fulton Theatre Company Lancaster, PA | $42,962,045 | $8,952,577 |
Kentucky Opera Association Inc Louisville, KY | $4,939,443 | $2,050,260 |
Opera Association Of Central Ohio Columbus, OH | $1,269,312 | $1,287,831 |
Toledo Opera Association Toledo, OH | $4,577,028 | $1,254,776 |
Indianapolis Opera Company Indianapolis, IN | $3,256,088 | $1,429,356 |
Opera Grand Rapids Grand Rapids, MI | $2,048,436 | $784,571 |
Pittsburgh Opera Theater Inc Pittsburgh, PA | $277,338 | $656,627 |
Charleston Light Opera Guild Inc Charleston, WV | $394,018 | $206,076 |