City Opera House Heritage Association Inc

Analysis

City Opera House Heritage Association Inc is a registered charity in United States, based in Traverse City, MI. It received its IRS tax-exemption ruling in March 1979, 47 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 June 2023, City Opera House Heritage Association Inc reported income of $645k and spending of $968k, spending 150% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $1.6m to $645k (-60%), an average of -26% a year. The sharpest change came in the year to June 2022, when income rose by 349%. Over the whole period it spent 87% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, City Opera House Heritage Association Inc sits at the 81st percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 74th percentile within MI. Charities of a similar size with the same main cause include National Museum of Polo and Hall of Fame ($644k), Nichi Bei Foundation ($645k) and Korean American Center ($644k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 42% and program service revenue 54% of the total. Compensation of current officers, directors and key employees was $91k (9.4% of expenses). Other salaries and wages came to $208k. At year end it held assets of $6.7m against liabilities of $97k, net assets of $6.6m. It reported 12 employees.