Operalex Inc
- Assets
- $404.5k
- Revenue
- $59.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Lexington, KY
- Founding
- 09/1990
- Data as of
- 06/2022
- EIN
- 61-1170162
Organization Overview
Operalex Inc is located in Lexington, KY. The organization was established in 1990. According to its NTEE Classification (A65) the organization is classified as: Theater, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Operalex 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 06/2022, Operalex Inc generated $59.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (12.7%) each year. All expenses for the organization totaled $156.7k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (7.2%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ENHANCE THE GENERAL PUBLIC'S AWARENESS OF OPERA IN CENTRAL KENTUCKY AND THROUGHOUT THE COMMONWEALTH
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERALEX SUPPORTS MANY OPERATIC PERFORMANCES, SCHOLARSHIP AUDITIONS, AND OPERA PROMOTIONAL EVENTS SUCH AS LUNCHEONS, RECEPTIONS, CAST FEEDS AND OPERA CLASSES. DUE TO COVID, THE OPERATIC PERFORMANCES, SCHOLARSHIP AUDITIONS AND OPERA CLASSES WERE HELD VIRTUALLY AND OFFERED TO OUR AUDIENCES ON FACEBOOK, YOUTUBE AND THE OPERALEX WEBSITE. LUNCHEONS, RECREATION AND CAST FEED GATHERINGS WERE NOT ALLOWED DUE TO COVID RESTRICTIONS.
OPERALEX PARTICIPATED IN THE METROPOLITAN OPERA NATIONAL COUNCIL'S KENTUCKY DISTRICT AND CENTRAL REGION AUDITIONS WHICH WERE HELD VIRTUALLY DUE TO THE COVID PANDEMIC.
THE OUTREACH PROGRAM INCLUDED THREE WEBSITES, THREE ISSUES OF THE NEWSLETTER MAILED TO OVER 1,300 RECIPIENTS, MAINTAINING A DATABASE, AND E-MAILING AN ON-LINE WEEKLY BULLETIN NEWSLETTER OF CURRENT AND UPCOMING CULTURAL EVENTS. DUE TO COVID, ALL SPECIAL EVENTS WERE HELD VIRTUALLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sandy Archer Director | Trustee | 3 | $0 |
Leslie Ann Asbury Director | Trustee | 2 | $0 |
Harry Clarke Immediate Pa | OfficerTrustee | 30 | $0 |
Sylvia Davis Director | Trustee | 5 | $0 |
Ann Elizabeth Delahanty Director | Trustee | 2 | $0 |
Jean Dorton Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $35,161 |
| Investment income | $6,002 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,731 |
| Net Income from Fundraising Events | -$6,270 |
| Net Income from Gaming Activities | -$386 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $59,642 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $20,268 |
| 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 to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $525 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $13,765 |
| Office expenses | $1,124 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,882 |
| All other expenses | $0 |
| Total functional expenses | $156,673 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $404,458 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $404,458 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| 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 | $404,458 |