Glimmerglass Opera Theatre Inc

Analysis

Glimmerglass Opera Theatre Inc is a registered charity in United States, based in Cooperstown, NY. It received its IRS tax-exemption ruling in December 1975, 51 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Glimmerglass Opera Theatre Inc reported income of $7.7m and spending of $10.8m, spending 140% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $10.9m to $7.7m (-29%), an average of -8.3% a year. The sharpest change came in the year to September 2020, when income dropped by 45%. Over the whole period it spent 101% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Glimmerglass Opera Theatre Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 92nd percentile within NY. Charities of a similar size with the same main cause include The 74 Media Inc ($7.7m), Mississippi Gulf Coast Model Railroad Club Museum & Education D ($7.7m) and Women in Film ($7.7m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 54% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $306k (2.8% of expenses). Other salaries and wages came to $6.4m. At year end it held assets of $16.4m against liabilities of $2.5m, net assets of $14.0m. It reported 323 employees.