Virginia Opera Assoc Inc
- Assets
- $2.3m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 107
- Location
- Norfolk, VA
- Founding
- 03/1975
- Data as of
- 06/2021
- EIN
- 54-0985006
Organization Overview
Virginia Opera Assoc Inc is located in Norfolk, VA. The organization was established in 1975. 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 06/2023, Virginia Opera Assoc Inc employed 107 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Opera Assoc 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, Virginia Opera Assoc Inc generated $3.7m 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 (6.6%) each year. All expenses for the organization totaled $2.2m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (12.8%) 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
TO ATTRACT, EDUCATE, DEVELOP AND ENGAGE A DIVERSE BASE OF AUDIENCES, VOLUNTEERS AND PROFESSIONALS THROUGH THE PROMOTION AND PRODUCTION OF QUALITY OPERA PERFORMANCES IN THE COMMONWEALTH OF VIRGINIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PERFORMANCE OF OPERAS FOR THE PUBLIC AS WELL AS CULTURAL EDUCATION PROGRAMS FOR STUDENTS AND OTHER GROUPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donna Allen Trustee | Trustee | 0.5 | $0 |
Deborah Wyld Chair | OfficerTrustee | 0.5 | $0 |
Michael Lott Vice Chair | OfficerTrustee | 0.5 | $0 |
Cynthia Holmes Trustee | Trustee | 0.5 | $0 |
Josee Covington Trustee | Trustee | 0.5 | $0 |
Dr Elisabeth Muhlenfeld Wollan Trustee | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Richmond Symphony Music Support | 6/29/23 | $131,440 |
Virginia Symphony Music Support | 6/29/23 | $275,543 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,763,296 |
| Investment income | $2 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $12,368 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,182 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,745,037 |
| 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. | $831,223 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $302,537 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $55,618 |
| Payroll taxes | $93,485 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $26,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $220,772 |
| Advertising and promotion | $75,983 |
| Office expenses | $72,938 |
| Information technology | $55,186 |
| Royalties | $0 |
| Occupancy | $158,042 |
| Travel | $12,050 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $839 |
| Interest | $5,802 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $62,683 |
| Insurance | $68,800 |
| All other expenses | $0 |
| Total functional expenses | $2,169,818 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,115,447 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $795,511 |
| Accounts receivable, net | $58,264 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $7,340 |
| Prepaid expenses and deferred charges | $116,814 |
| Investments—publicly traded securities | $5,286 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,806 |
| Total assets | $2,261,019 |
| Accounts payable and accrued expenses | $629,027 |
| Grants payable | $0 |
| Deferred revenue | $508,921 |
| 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 | $154,177 |
| Other liabilities | $299,000 |
| Total liabilities | $1,591,125 |
| 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 | $669,894 |