Knoxville Opera Company
- Assets
- $1.7m
- Revenue
- $1.4m
- Investments
- $11.2k
- Employees
- 8
- Location
- Knoxville, TN
- Founding
- 03/1978
- Data as of
- 06/2022
- EIN
- 62-1015262
Organization Overview
Knoxville Opera Company is located in Knoxville, TN. The organization was established in 1978. 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 06/2022, Knoxville Opera Company employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Knoxville Opera Company 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, Knoxville Opera Company generated $1.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $1.3m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (2.9%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PERFORMANCE OF OPERA AND MUSICALS
Describe the Organization's Program Activity:
Part 3 - Line 4a
KNOXVILLE OPERA IS ENGAGED IN THE PERFORMANCE OF OPERA AND MUSICAL PRODUCTIONS IN THE EAST TENNESSEE AREA. EXPENSES WERE INCURRED RELATING TO FIVE PERFORMANCES OF THREE MAJOR PRODUCTIONS AND 100+ EDUCATIONAL OUTREACH EVENTS WHICH WERE COMPLETED IN THE YEAR ENDED JUNE 30, 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Salesky Artistic Director/conductor | Officer | 40 | $165,000 |
Jason Hardy Executive Director-New | Officer | 50 | $87,895 |
Julia Mullaney Secretary | OfficerTrustee | 3 | $0 |
Robert Baird Treasurer | OfficerTrustee | 5 | $0 |
Frank Rosamond Chair | OfficerTrustee | 5 | $0 |
Emily Anderson Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $860,874 |
| All other contributions, gifts, grants, and similar amounts not included above | $423,628 |
| Noncash contributions included in lines 1a–1f | $103,050 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,284,502 |
| Total Program Service Revenue | $345,776 |
| Investment income | -$208,412 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,430,096 |
| 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. | $125,000 |
| Compensation of current officers, directors, key employees. | $33,750 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $231,871 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $35,548 |
| Payroll taxes | $26,901 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,800 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $132,363 |
| Office expenses | $11,103 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $23,882 |
| Travel | $6,129 |
| 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 | $1,502 |
| Insurance | $13,894 |
| All other expenses | $140,754 |
| Total functional expenses | $1,253,435 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $449,790 |
| Savings and temporary cash investments | $7,253 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $105,018 |
| 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 | $14,852 |
| Net Land, buildings, and equipment | $4,508 |
| Investments—publicly traded securities | $1,150,577 |
| Investments—other securities | $11,176 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,743,174 |
| Accounts payable and accrued expenses | $44,220 |
| 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 | $15,150 |
| Total liabilities | $59,370 |
| Net assets without donor restrictions | $1,612,962 |
| Net assets with donor restrictions | $70,842 |
| 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 | $1,743,174 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Knoxville Opera Company has recieved totaling $109,940.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $60,400 |
Arts And Culture Alliance Of Greater Knoxville Knoxville, TN PURPOSE: TO SUPPORT ARTS IN THE COMMUNITY | $31,200 |
Ahb Foundation Knoxville, TN PURPOSE: TO PERFORM OPERA AND MUSICALS. | $5,000 |
Charis Foundation Knoxville, TN PURPOSE: GENERAL OPERATING SUPPORT | $5,000 |
Charis Foundation Knoxville, TN PURPOSE: GENERAL OPERATING SUPPORT | $5,000 |
L A M P Foundation Knoxville, TN PURPOSE: GENERAL SUPPORT | $2,500 |
Endowment Analysis
| Beg. Balance | $113,275 |
| Earnings | -$49,686 |
| Ending Balance | $63,589 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Opera Theatre Of Saint Louis St Louis, MO | $111,453,146 | $9,625,492 |
The Atlanta Opera Inc Atlanta, GA | $26,985,184 | $12,248,438 |
Lyric Opera Of Kansas City Inc Kansas City, MO | $27,451,625 | $5,560,944 |
Springer Opera House Arts Association Inc Columbus, GA | $18,672,738 | $4,001,433 |
Virginia Opera Assoc Inc Norfolk, VA | $2,261,019 | $3,745,037 |
Kentucky Opera Association Inc Louisville, KY | $4,939,443 | $2,050,260 |
Nashville Opera Association Nashville, TN | $10,829,028 | $1,740,899 |
Opera Carolina Charlotte, NC | $1,027,140 | $1,727,592 |
Knoxville Opera Company Knoxville, TN | $1,743,174 | $1,430,096 |
Opera Memphis Inc Memphis, TN | $5,037,117 | $1,438,726 |
Opera Birmingham Birmingham, AL | $1,161,984 | $594,696 |
Greensboro Opera Company Greensboro, NC | $506,881 | $836,842 |