Cedar Rapids Opera Theatre

Analysis

Cedar Rapids Opera Theatre is a registered charity in United States, based in Cedar Rapids, IA. It received its IRS tax-exemption ruling in August 1998, 28 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 2023, Cedar Rapids Opera Theatre reported income of $492k and spending of $465k, spending 95% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $391k to $492k (+26%), an average of +5.9% a year. The sharpest change came in the year to August 2023, when income rose by 27%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Cedar Rapids Opera Theatre sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 72nd percentile within IA. Charities of a similar size with the same main cause include Players by the Sea Inc ($492k), Boston Main Streets Foundation ($492k) and Anabaptist Renaissance Consortium ($491k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 94% and program service revenue 12% of the total. Other salaries and wages came to $57k. At year end it held assets of $458k against liabilities of $303k, net assets of $155k. It reported 2 employees.