The Minnesota Opera

Analysis

The Minnesota Opera is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in January 1969, 57 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 2023, The Minnesota Opera reported income of $16.7m and spending of $13.1m, leaving 22% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $21.3m to $16.7m (-22%), an average of -5.9% a year. The sharpest change came in the year to June 2020, when income dropped by 65%. Over the whole period it spent 80% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Minnesota Opera sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within MN. Charities of a similar size with the same main cause include The Tech Interactive ($16.7m), Pearl Harbor Aviation Museum ($16.7m) and Memorial Hermann Community Benefit Corporation ($16.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 71% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $425k (3.3% of expenses). Other salaries and wages came to $6.7m. At year end it held assets of $38.1m against liabilities of $2.2m, net assets of $36.0m. It reported 310 employees.