Florentine Opera Co Inc

Analysis

Florentine Opera Co Inc is a registered charity in United States, based in Milwaukee, WI. It received its IRS tax-exemption ruling in September 1968, 58 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 June 2024, Florentine Opera Co Inc reported income of $2.8m and spending of $3.4m, spending 120% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $3.8m to $2.8m (-25%), an average of -5.5% a year. The sharpest change came in the year to June 2022, when income rose by 70%. Over the whole period it spent 74% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Florentine Opera Co Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within WI. Charities of a similar size with the same main cause include Windtree Foundation ($2.8m), Coastal Georgia Historical Society Inc ($2.8m) and Town Hall Association ($2.8m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 84% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $224k (6.6% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $8.2m against liabilities of $618k, net assets of $7.6m. It reported 68 employees.