Heartbeat Opera Ltd

Analysis

Heartbeat Opera Ltd is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in June 2015, 11 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, Heartbeat Opera Ltd reported income of $658k and spending of $735k, spending 112% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $334k to $658k (+97%), an average of +18% a year. The sharpest change came in the year to June 2020, when income rose by 89%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Heartbeat Opera Ltd sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 70th percentile within NY. Charities of a similar size with the same main cause include Ballet Co-Laboratory ($657k), Orchestra Indiana Inc ($658k) and Gettysburg Battlefield Preservation Association Inc ($657k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% and program service revenue 7.3% of the total. Compensation of current officers, directors and key employees was $142k (19% of expenses). Other salaries and wages came to $183k. At year end it held assets of $419k against liabilities of $15k, net assets of $404k. It reported 9 employees.