Cincinnati Opera Association

Analysis

Cincinnati Opera Association is a registered charity in United States, based in Cincinnati, OH. It received its IRS tax-exemption ruling in November 1942, 84 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 August 2023, Cincinnati Opera Association reported income of $7.2m and spending of $8.9m, spending 123% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $10.2m to $7.2m (-29%), an average of -8.2% a year. The sharpest change came in the year to August 2021, when income rose by 71%. Over the whole period it spent 103% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Cincinnati Opera Association 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 94th percentile within OH. Charities of a similar size with the same main cause include Rhode Island Philharmonic Orchestra & Music School ($7.2m), Virginia Foundation for Public Media ($7.2m) and This Is the Place Foundation ($7.2m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 68% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $730k (8.2% of expenses). Other salaries and wages came to $3.7m. At year end it held assets of $38.2m against liabilities of $2.9m, net assets of $35.3m. It reported 156 employees.