Toledo Opera Association

Analysis

Toledo Opera Association is a registered charity in United States, based in Toledo, OH. It received its IRS tax-exemption ruling in August 1961, 65 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, Toledo Opera Association reported income of $1.1m and spending of $1.7m, spending 151% of what it took in. Across the 5 years on record, from May 2019 to May 2023, income fell from $1.1m to $1.1m (-0.6%), an average of -0.1% a year. The sharpest change came in the year to May 2022, when income rose by 37%. Over the whole period it spent 107% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Toledo Opera Association sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 80th percentile within OH. Charities of a similar size with the same main cause include Colour of Music Inc ($1.1m), Larchmont-Mamaroneck Community Television Inc ($1.1m) and Museum of Western Colorado ($1.1m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 65% and program service revenue 24% of the total. Other salaries and wages came to $357k. At year end it held assets of $4.0m against liabilities of $270k, net assets of $3.7m. It reported 56 employees.