Fort Worth Opera Association Inc

Analysis

Fort Worth Opera Association Inc is a registered charity in United States, based in Fort Worth, TX. It received its IRS tax-exemption ruling in April 1948, 78 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Fort Worth Opera Association Inc reported income of $2.9m and spending of $2.5m, spending 86% of its income. Across the 6 years on record, from August 2019 to June 2024, income fell from $3.0m to $2.9m (-3.8%), an average of -0.8% a year. The sharpest change came in the year to August 2020, when income dropped by 45%. 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, Fort Worth 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 91st percentile within TX. Charities of a similar size with the same main cause include Richmond Performing Arts Alliance ($2.9m), Mosaic Theater Company of DC ($2.9m) and Carmel Bach Festival Inc ($2.9m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 88% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $151k (6.1% of expenses). Other salaries and wages came to $639k. At year end it held assets of $1.2m against liabilities of $779k, net assets of $405k. It reported 34 employees.