Cedar Rapids Opera Theatre
- Assets
- $457.9k
- Revenue
- $491.6k
- Investments
- $0.0
- Employees
- 2
- Location
- Cedar Rapids, IA
- Founding
- 08/1998
- Data as of
- 08/2023
- EIN
- 42-1476568
Organization Overview
Cedar Rapids Opera Theatre is located in Cedar Rapids, IA. The organization was established in 1998. 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 08/2023, Cedar Rapids Opera Theatre employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cedar Rapids Opera Theatre 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 08/2023, Cedar Rapids Opera Theatre generated $491.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $465.0k during the year ending 08/2023. While expenses have increased by 3.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE CEDAR RAPIDS OPERA THEATRE IS TO ADVANCE OPERA AS A VITAL, LIVING AMERICAN ART FORM AND TO DEVELOP THE ARTISTS WHO CREATE IT, AS WELL AS THE AUDIENCE THAT APPRECIATES AND SUPPORTS IT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL PROGRAMMING INCLUDES A PROFESSIONALLY STAGED OPERA, A CHILDREN'S OPERA, AND A YOUNG ARTISTS STAGED OPERA FEATURING YOUNG ARTISTS FROM ACROSS THE COUNTRY. PROGRAMS BENEFIT THE VIEWING AUDIENCE ALONG WITH THE YOUNG ARTISTS WHO RECEIVE VALUABLE STAGE EXPERIENCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Kleinknecht Ex Officio B | Trustee | 1 | $34,883 |
Gail Williams Board Member | Trustee | 1 | $3,122 |
Chad Sonka Board Member | Trustee | 1 | $1,000 |
Anna Barker Board Member | Trustee | 1 | $0 |
Scot Brown Treasurer | OfficerTrustee | 1 | $0 |
David Caves President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $37,250 |
| Related organizations | $0 |
| Government grants | $25,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $399,389 |
| Noncash contributions included in lines 1a–1f | $8,197 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $461,639 |
| Total Program Service Revenue | $57,738 |
| Investment income | $2,232 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$35,171 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $491,555 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $57,201 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,286 |
| Payroll taxes | $4,805 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,531 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $36,457 |
| Office expenses | $2,164 |
| Information technology | $0 |
| Royalties | $21,694 |
| Occupancy | $4,778 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,937 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $480 |
| Insurance | $402 |
| All other expenses | $57,065 |
| Total functional expenses | $464,955 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $63,865 |
| Savings and temporary cash investments | $369,821 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,750 |
| 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 | $20,481 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $457,917 |
| Accounts payable and accrued expenses | $13,601 |
| Grants payable | $0 |
| Deferred revenue | $288,986 |
| 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 | $302,587 |
| 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 | $155,330 |
| Total liabilities and net assets/fund balances | $457,917 |