Madison Opera Inc

Analysis

Madison Opera Inc is a registered charity in United States, based in Madison, WI. It received its IRS tax-exemption ruling in January 1995, 31 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 August 2024, Madison Opera Inc reported income of $2.6m and spending of $2.8m, spending 106% of what it took in. Across the 6 years on record, from August 2019 to August 2024, income grew from $2.2m to $2.6m (+17%), an average of +3.1% a year. The sharpest change came in the year to August 2024, when income rose by 21%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Madison Opera Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within WI. Charities of a similar size with the same main cause include Roots of Humanity Foundation Inc ($2.6m), Nonprofit Information Networking Association ($2.6m) and Taproot Theatre ($2.6m).

On its Form 990 for the period ending August 2024, revenue came from contributions and grants 68% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $164k (5.9% of expenses). Other salaries and wages came to $358k. At year end it held assets of $2.4m against liabilities of $328k, net assets of $2.1m. It reported 11 employees.

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.