Los Angeles Opera Company

Analysis

Los Angeles Opera Company is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in May 1960, 66 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, Los Angeles Opera Company reported income of $39.7m and spending of $49.7m, spending 125% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $50.9m to $39.7m (-22%), an average of -6.0% a year. The sharpest change came in the year to June 2022, when income rose by 38%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Los Angeles Opera Company sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within CA. Charities of a similar size with the same main cause include Franklin Institute ($39.6m), American Film Institute Inc ($39.7m) and Milwaukee Repertory Theater Inc ($39.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 64% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $3.6m (7.3% of expenses). Other salaries and wages came to $25.0m. It paid $28k in professional fundraising fees. At year end it held assets of $100.3m against liabilities of $18.4m, net assets of $81.9m. It reported 1,026 employees.