Piedmont Opera Inc

Analysis

Piedmont Opera Inc is a registered charity in United States, based in Winston Salem, NC. It received its IRS tax-exemption ruling in June 1977, 49 years ago. 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, Piedmont Opera Inc reported income of $884k and spending of $1.1m, spending 119% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $949k to $884k (-6.9%), an average of -1.8% a year. The sharpest change came in the year to June 2022, when income rose by 55%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Piedmont Opera Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within NC. Charities of a similar size with the same main cause include Willits Seniors Inc ($884k), Anas Friends Inc ($884k) and Community Renewal Inc ($883k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 68% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $145k (14% of expenses). Other salaries and wages came to $197k. At year end it held assets of $1.2m against liabilities of $5,850, net assets of $1.2m. It reported 12 employees.