Kentucky Opera Association Inc

Analysis

Kentucky Opera Association Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in January 1968, 58 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, Kentucky Opera Association Inc reported income of $2.9m and spending of $2.6m, spending 89% of its income. Across the 6 years on record, from May 2019 to June 2023, income grew from $1.8m to $2.9m (+65%), an average of +11% a year. The sharpest change came in the year to June 2023, when income rose by 2816%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Kentucky Opera Association Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within KY. Charities of a similar size with the same main cause include The Shakespeare Theatre of New Jersey Inc ($2.9m), The Art League Inc ($2.9m) and Make a Wish of New Hampshire Inc ($2.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 88% and program service revenue 10% of the total. Compensation of current officers, directors and key employees was $141k (5.4% of expenses). Other salaries and wages came to $630k. At year end it held assets of $6.0m against liabilities of $1.2m, net assets of $4.8m. It reported 90 employees.