Grand Opera House Inc

Analysis

Grand Opera House Inc is a registered charity in United States, based in Wilmington, DE. It received its IRS tax-exemption ruling in December 1972, 54 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2023, Grand Opera House Inc reported income of $6.1m and spending of $7.7m, spending 127% of what it took in. Across the 5 years on record, from July 2019 to July 2023, income fell from $6.6m to $6.1m (-7.1%), an average of -1.8% a year. The sharpest change came in the year to July 2022, when income rose by 193%. Over the whole period it spent 86% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Grand Opera House Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within DE. Charities of a similar size with the same main cause include Culturesource ($6.1m), Santa Barbara International Film Festival Inc ($6.1m) and Adirondack Historical Association ($6.1m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 30% and program service revenue 41% of the total. Compensation of current officers, directors and key employees was $197k (2.5% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $18.2m against liabilities of $3.1m, net assets of $15.1m. It reported 235 employees.