Seattle Opera Foundation
- Assets
- $25.3m
- Revenue
- $469.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Seattle, WA
- Founding
- 06/1982
- Data as of
- 06/2022
- EIN
- 91-1174712
Organization Overview
Seattle Opera Foundation is located in Seattle, WA. The organization was established in 1982. According to its NTEE Classification (A6A) the organization is classified as: Opera, 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. Seattle Opera Foundation 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, Seattle Opera Foundation generated $469.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $2.2m during the year ending 06/2022. While expenses have increased by 7.9% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT SEATTLE OPERA IN PURSUING ITS EXEMPT PURPOSE THROUGH CONTRIBUTION SUPPORT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEATTLE OPERA FOUNDATION DISTRIBUTIONS PROVIDE SUPPORT EXCLUSIVELY TO SEATTLE OPERA, AN INTERNAL REVENUE CODE501(C)(3) PUBLIC CHARITY. DURING THE 2021/22 SEASON, SEATTLE OPERA LAUNCHED THEIR IN-PERSON REOPENING WITH AN OUTDOOR CONCERT ON THE SEATTLE CENTER CAMPUS AND THEN CONTINUED WITH 41 PERFORMANCES OF THEIR MAIN SEASON. STREAMING OPTIONS CONTINUED FOR SUBSCRIBERS WHO WERE NOT READY TO RETURN TO THE THEATER YET. APPROXIMATELY 42,000 PEOPLE ATTENDED PERFORMANCES AT OUTDOOR VENUES, MCCAW HALL AND THE OPERA CENTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Phelps President | OfficerTrustee | 3 | $0 |
Anne Redman Secretary | OfficerTrustee | 3 | $0 |
Moya Vazquez Vice President | OfficerTrustee | 3 | $0 |
James D Cullen Treasurer | OfficerTrustee | 3 | $0 |
Charles B Cosse Board Member | Trustee | 3 | $0 |
Ellen Evans Board Member | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,500 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $521,032 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$62,687 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $469,845 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,097,229 |
| 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 | $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 | $8,915 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $107,711 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $125 |
| 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 | $1,515 |
| All other expenses | $0 |
| Total functional expenses | $2,215,495 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $25,200,041 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $108,594 |
| Total assets | $25,308,635 |
| 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 | $13,013 |
| Net assets with donor restrictions | $25,295,622 |
| 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 | $25,308,635 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Seattle Opera Foundation has recieved totaling $2,500.
| Awarding Organization | Amount |
|---|---|
Seattle-Sonoran Foundation Seattle, WA PURPOSE: GENERAL PROGRAM SUPPORT | $2,500 |
Endowment Analysis
| Beg. Balance | $30,518,229 |
| Earnings | -$3,005,599 |
| Admin Expense | $118,266 |
| Net Contributions | $11,500 |
| Grants | $2,097,229 |
| Ending Balance | $25,308,635 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Seattle Opera Seattle, WA | $79,324,035 | $23,974,024 |
Portland Opera Association Inc Portland, OR | $27,962,888 | $6,427,298 |
Seattle Opera Foundation Seattle, WA | $25,308,635 | $469,845 |
Anchorage Opera Company Anchorage, AK | $424,330 | $648,106 |
Eugene Opera Eugene, OR | $551,034 | $541,105 |
Opera Idaho Inc Boise, ID | $618,057 | $707,547 |
Pacific Musicworks Seattle, WA | $3,895 | $242,217 |
Tacoma Opera Association Tacoma, WA | $36,365 | $305,267 |
Friends Of The Opera House Elgin, OR | $261,680 | $443,087 |
Vashon Opera Burton, WA | $111,543 | $0 |
Sun Valley Opera Company Ketchum, ID | $167,419 | $179,668 |
Juneau Lyric Opera Assn Juneau, AK | $307,968 | $0 |