Fremont Opera House Inc

Analysis

Fremont Opera House Inc is a registered charity in United States, based in Fremont, NE. It received its IRS tax-exemption ruling in April 1979, 47 years ago. 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 December 2023, Fremont Opera House Inc reported income of $53k and spending of $54k, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $57k to $53k (-7.3%), an average of -1.9% a year. The sharpest change came in the year to December 2022, when income rose by 34%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Fremont Opera House Inc sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 18th percentile within NE. Charities of a similar size with the same main cause include Achilles Figure Skating Club ($53k), Conscious Leadership Guild ($53k) and The Clay County Hospital Foundation ($53k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 12% and program service revenue 85% of the total. At year end it held assets of $170k against liabilities of $5,500, net assets of $164k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.