Greater Miami Opera Inc

Analysis

Greater Miami Opera Inc is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in July 1977, 49 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 May 2023, Greater Miami Opera Inc reported income of $4.7m and spending of $4.6m, spending 97% of its income. Across the 5 years on record, from May 2019 to May 2023, income grew from $3.3m to $4.7m (+41%), an average of +8.9% a year. The sharpest change came in the year to May 2022, when income rose by 105%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Greater Miami Opera 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 92nd percentile, and in the 93rd percentile within FL. Charities of a similar size with the same main cause include Centrum Foundation ($4.7m), LF Charities Inc ($4.7m) and Arkansas Educational Telecommunications Network FDN ($4.7m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 78% and program service revenue 23% of the total. Other salaries and wages came to $1.6m. At year end it held assets of $222k against liabilities of $3.6m, net assets of -$3.3m.