Virginia Opera Assoc Inc

Analysis

Virginia Opera Assoc Inc is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in March 1975, 51 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 June 2023, Virginia Opera Assoc Inc reported income of $5.5m and spending of $5.2m, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.1m to $5.5m (+7.9%), an average of +1.9% a year. The sharpest change came in the year to June 2021, when income dropped by 27%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Virginia Opera Assoc Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within VA. Charities of a similar size with the same main cause include Pilchuck Glass School ($5.5m), Alcohol and Drug Abuse Services Inc ($5.5m) and Fairbanks Museum and Planetarium ($5.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 72% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $931k (18% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $1.7m against liabilities of $853k, net assets of $863k. It reported 107 employees.