Knoxville Opera Company

Analysis

Knoxville Opera Company is a registered charity in United States, based in Knoxville, TN. It received its IRS tax-exemption ruling in March 1978, 48 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, Knoxville Opera Company reported income of $1.6m and spending of $1.6m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.5m to $1.6m (+7.8%), an average of +1.9% a year. The sharpest change came in the year to June 2022, when income rose by 53%. 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, Knoxville Opera Company sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within TN. Charities of a similar size with the same main cause include Bayview Opera House Inc ($1.6m), Preservation Chicago NFP ($1.6m) and Modern Quilt Guild Inc ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 60% and program service revenue 29% of the total. Compensation of current officers, directors and key employees was $113k (7.1% of expenses). Other salaries and wages came to $208k. At year end it held assets of $1.7m against liabilities of $23k, net assets of $1.7m. It reported 11 employees.