Civic Intelligence

Opera House Arts

990 • Fiscal year 2014 • EIN 01-0526734

Nov 01, 2013 to Oct 31, 2014 • Filed on Mar 20, 2015

PO Box 56Stonington, ME 04681

(207) 367-2788

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

48th percentile

0.09x

Higher debt load relative to assets than 48% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

51st percentile

0.12x

Higher debt load relative to revenue than 51% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

93rd percentile

56%

Higher net margin than 93% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

43rd percentile

$46,539

Higher top officer pay than 43% of similar nonprofits.

Top officer pay equals 2.7% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

95th percentile

79%

Faster asset growth than 95% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

96th percentile

149%

Faster revenue growth than 96% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Assets

Up

$2,196,589

Up $968,623 (+79%) from 2013

Net Assets

Up

$1,992,699

Up $985,988 (+98%) from 2013

Liabilities

Down

$203,890

Down $17,365 (-7.8%) from 2013

Revenue

Up

$1,751,753

Up $1,048,407 (+149%) from 2013

Expenses

Up

$774,409

Up $80,747 (+12%) from 2013

Net Income

Up

$977,344

Up $967,660 (+9992%) from 2013

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2011: $1,060,012Liabilities 2011: $235,908Net Assets 2011: $824,1042011Assets 2012: $1,214,292Liabilities 2012: $225,898Net Assets 2012: $988,3942012Assets 2013: $1,227,966Liabilities 2013: $221,255Net Assets 2013: $1,006,7112013Assets 2014: $2,196,589Liabilities 2014: $203,890Net Assets 2014: $1,992,6992014Assets 2015: $2,549,696Liabilities 2015: $631,902Net Assets 2015: $1,917,7942015Assets 2016: $2,352,304Liabilities 2016: $564,737Net Assets 2016: $1,787,5672016Assets 2017: $2,028,911Liabilities 2017: $332,796Net Assets 2017: $1,696,1152017Assets 2018: $1,972,362Liabilities 2018: $141,600Net Assets 2018: $1,830,7622018Assets 2019: $1,988,162Liabilities 2019: $142,291Net Assets 2019: $1,845,8712019Assets 2020: $2,104,182Liabilities 2020: $127,971Net Assets 2020: $1,976,2112020Assets 2021: $2,484,317Liabilities 2021: $119,505Net Assets 2021: $2,364,8122021Assets 2022: $2,089,674Liabilities 2022: $117,567Net Assets 2022: $1,972,1072022Assets 2023: $2,000,631Liabilities 2023: $127,873Net Assets 2023: $1,872,7582023Assets 2024: $2,550,469Liabilities 2024: $156,658Net Assets 2024: $2,393,8112024

Highlighted filing

2014

Assets$2,196,589
Liabilities$203,890
Net Assets$1,992,699

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.0M$0-$1.0MRevenue 2011: $612,899Expenses 2011: $621,594Net Income 2011: -$8,6952011Expenses 2012: $686,6362012Revenue 2013: $703,346Expenses 2013: $693,662Net Income 2013: $9,6842013Revenue 2014: $1,751,753Expenses 2014: $774,409Net Income 2014: $977,3442014Revenue 2015: $686,359Expenses 2015: $758,135Net Income 2015: -$71,7762015Revenue 2016: $711,221Expenses 2016: $839,772Net Income 2016: -$128,5512016Revenue 2017: $611,762Expenses 2017: $711,885Net Income 2017: -$100,1232017Revenue 2018: $896,322Expenses 2018: $767,087Net Income 2018: $129,2352018Revenue 2019: $929,063Expenses 2019: $915,849Net Income 2019: $13,2142019Revenue 2020: $634,869Expenses 2020: $518,233Net Income 2020: $116,6362020Revenue 2021: $996,461Expenses 2021: $668,188Net Income 2021: $328,2732021Revenue 2022: $553,744Expenses 2022: $916,461Net Income 2022: -$362,7172022Revenue 2023: $737,845Expenses 2023: $857,924Net Income 2023: -$120,0792023Revenue 2024: $1,451,119Expenses 2024: $971,161Net Income 2024: $479,9582024

Highlighted filing

2014

Revenue$1,751,753
Expenses$774,409
Net Income$977,344
Jump To
Filing Snapshot
Filing Period
Nov 1, 2013 to Oct 31, 2014
Signed
Mar 20, 2015
Return Version
2013v4.0
Gross Receipts
$1,787,213
Mission and Program Overview

Mission

To advance the public interest in and understanding of the performing and visual arts, to provide a forum for regional and national artists to expose their work, and to offer workshops, classes and seminars to the public.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$936,061$1,172,207▲ $236,146
Pledges and Grants Receivable$32,950$365,750▲ $332,800
Investments in Publicly Traded Securities$110,508$329,119▲ $218,611
Savings and Temporary Cash Investments$23,855$177,973▲ $154,118
Accounts Receivable$435$21,781▲ $21,346
Cash and Non-Interest-Bearing Accounts$3,935$16,047▲ $12,112
Inventories for Sale or Use$7,779$4,709▼ $3,070
Prepaid Expenses and Deferred Charges$1,809$1,809→ $0
Total Assets$1,227,966$2,196,589▲ $968,623
Other Assets Total$110,634$107,194▼ $3,440
Liabilities
Mortgage Notes Payable Secured by Investment Property$173,180$162,755▼ $10,425
Accounts Payable and Accrued Expenses$38,750$24,340▼ $14,410
Escrow Account Liability$9,325$16,795▲ $7,470
Total Liabilities$221,255$203,890▼ $17,365
Net Assets / Fund Balance
Unrestricted Net Assets$813,205$1,033,369▲ $220,164
Temporarily Rstr Net Assets$133,156$898,980▲ $765,824
Permanently Rstr Net Assets$60,350$60,350→ $0
Total Net Assets Fund Balance$1,006,711$1,992,699▲ $985,988
Total Liabilities and Net Assets / Fund Balance$1,227,966$2,196,589▲ $968,623

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$688,735$140,709$829,444
Land$406,767-$406,767
Equipment$76,705$163,259$239,964

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$110,634$300▲ $8,730$12,470$107,194
2012$98,354$500▲ $11,780-$110,634
2011$63,952$25,484▲ $9,918$1,000$98,354
2010$64,317-▼ $365-$63,952
2009$57,250$3,100▲ $3,967-$64,317
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Linda NelsonExecutive DiFT$46,539$46,539
Judith JeromeClerkFT$31,538$31,538

Board Members and Trustees

NameTitle
Richard K HoweChair
Bob TobinVice Chair
Annie HollandDirector
Cherie MasonDirector
Debbie WeilDirector
John OllmanDirector
Judy MccaskeyDirector
Mary Kay RicksDirector
Meredith GrayDirector
Ray MccaskeyDirector
Woody OsborneDirector
Carol EsteyDirector Eme
Joan SorensenDirector Eme
Stan BergenDirector Eme
Robert T LaskyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,365,292
Program Service Revenue
$321,607
Investment Income
$3,126
Other Revenue
$61,728
All Other Contributions
$1,365,292
Change in Net Assets
$977,344

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Real Estate Residential1$186,000
Securities Publicly Traded6$86,828
Other Non Cash Contri Table1$14,113
Total Noncash Contributions8$286,941

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,751,753
Revenue Not Reported on Form 990
$35,460
Total Revenue per Audited Statements
$1,787,213
Total Revenue per Form 990
$1,751,753
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$390,021
Other Expenses$384,388
Total Fundraising Expense$62,914
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$266,380$27,593$44,360$338,333
Occupancy$36,791$1,834$72$38,697
Advertising$26,436-$10,134$36,570
Payroll Taxes$25,132$2,545$4,136$31,813
Depreciation Depletion$31,469--$31,469
Other Employee Benefits$12,046$2,759$1,696$16,501
Insurance$10,458$4,482-$14,940
Office Expenses$1,798$9,310-$11,108
Fees for Services Accounting-$7,125-$7,125
Interest$6,002--$6,002
Other Expenses$2,929$2,201$9$5,139
All Other Expenses$875$3,693-$4,568
Travel$809$1,726$848$3,383
Pension Plan Contributions$2,720$327$327$3,374
Fees for Services Other-$2,000-$2,000
Fees for Services Legal-$110-$110
Total Functional Expenses$639,824$71,671$62,914$774,409

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$809,869
Expenses per Audited Statements$774,409
Total Expenses per Form 990$774,409
Expenses Not Reported on Form 990$35,460
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$60,780
Fundraising Direct Expenses$13,231
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$60,780$60,780$13,231$47,549
Total Events$60,780$60,780$13,231$47,549
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

Linda nelson, executive director judith jerome, artistic director domestic partners judy mccaskey, director ray mccaskey, director married

Form 990, Page 6, Part VI, Line 11B

The finance committee of the board of directors, which includes the executive director, reviews the form 990. The board reviews and adopts the completed 990 prior to its public release.

Form 990, Page 6, Part VI, Line 12C

A conflict of interest policy is signed by each board member and officer annually. A conflict of interest transaction must be approved before consummation of the transaction as follows. The board of directors of the corporation may authorize, approve or ratify the transaction if the material facts of the transaction and the director's or officer's interest are disclosed or known to the board. The transaction may be approved only if it is fair and equitable to the corporation as of the date the transaction is authorized, approved or ratified. The party asserting fairness of any such transaction has the burden of establishing fairness. For purposes of this section, a conflict of interest transaction is approved if it receives the affirmative vote of a majority of the directors who have no direct or indirect interest in the transaction, but a transaction may not be approved by a single director. If a majority of the directors on the board who have no direct or indirect interest in the transaction vote to approve the transaction, a quorum is present for the purpose of taking action. Directors may recuse themselves from discussions and/or votes in which they perceive themselves as having direct or indirect interest.

Form 990, Page 6, Part VI, Line 15A

The process of determining compensation for the executive director included a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision.

Form 990, Page 6, Part VI, Line 18

Opera house art's form 990 is made widely available via the guidestar website. Governing documents, policies, and financial statements are made available upon request.

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

EIN
01-0526734
Phone
2073672788

Signing Officer

Name
Linda Nelson
Title
Executive Director
Phone
2073672788
Signed
2015-03-20

Organization Details

Principal Officer
Linda Nelson
Formed
1999
Legal Domicile
Me
Voting Board Members
14
Independent Board Members
12
Employees
36
Volunteers
100

Preparer

Preparer
Andrew K Laslie CPA
Phone
2073749985
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Event expenses 13,231 cost of goods sold 22,229 event expenses -13,231 cost of goods sold -22,229

Form 990, Part XI, Line 9

Realized and unrealized investment gains 8,644

Financial Statement Notes

Schedule D, Page 2, Part IV, Line 2B

Opera house arts enters, from time to time, into signed written contracts to act as a fiscal agent for artists or organizations whose projects fall within the mission of opera house arts. Opera house arts agrees to receive and administer grant funds from public agencies for these entities and, in return, to receive an administrative fee of 5-7% for such services.

Schedule D, Page 2, Part V, Line 4

The endowment funds have been established to provide a predictable stream of funding for the organization's programs while seeking to maintain the purchasing power of the endowment assets.

Schedule D, Page 4, Part XI, Line 2D

Event expenses 13,231 cost of goods sold 22,229

Schedule D, Page 4, Part XII, Line 2D

Event expenses 13,231 cost of goods sold 22,229

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.55$0.16$2.39$1.45$0.97$0.48
2023Detailed filing. Detailed filing data is available for this year.$2.00$0.13$1.87$0.74$0.86$0.12
2022Detailed filing. Detailed filing data is available for this year.$2.09$0.12$1.97$0.55$0.92$0.36
2021Detailed filing. Detailed filing data is available for this year.$2.48$0.12$2.36$1.00$0.67$0.33
2020Detailed filing. Detailed filing data is available for this year.$2.10$0.13$1.98$0.63$0.52$0.12
2019Detailed filing. Detailed filing data is available for this year.$1.99$0.14$1.85$0.93$0.92$0.01
2018Detailed filing. Detailed filing data is available for this year.$1.97$0.14$1.83$0.90$0.77$0.13
2017Detailed filing. Detailed filing data is available for this year.$2.03$0.33$1.70$0.61$0.71$0.10
2016Detailed filing. Detailed filing data is available for this year.$2.35$0.56$1.79$0.71$0.84$0.13
2015Detailed filing. Detailed filing data is available for this year.$2.55$0.63$1.92$0.69$0.76$0.07
2014Detailed filing. Detailed filing data is available for this year.$2.20$0.20$1.99$1.75$0.77$0.98
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.23$0.22$1.01$0.70$0.69$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.21$0.23$0.99$0.69
2011Summary only. Only limited summary data is available for this year.$1.06$0.24$0.82$0.61$0.62$0.01