Civic Intelligence

Opera House Arts

990 • Fiscal year 2017 • EIN 01-0526734

Nov 01, 2016 to Oct 31, 2017 • Filed on May 11, 2018

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

59th percentile

0.16x

Higher debt load relative to assets than 59% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

79th percentile

0.54x

Higher debt load relative to revenue than 79% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

15th percentile

-16%

Higher net margin than 15% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

52nd percentile

$67,160

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 11.0% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

9th percentile

-14%

Faster asset growth than 9% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

17th percentile

-14%

Faster revenue growth than 17% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Down

$2,028,911

Down $323,393 (-14%) from 2016

Net Assets

Down

$1,696,115

Down $91,452 (-5.1%) from 2016

Liabilities

Down

$332,796

Down $231,941 (-41%) from 2016

Revenue

Down

$611,762

Down $99,459 (-14%) from 2016

Expenses

Down

$711,885

Down $127,887 (-15%) from 2016

Net Income

Up

-$100,123

Up $28,428 (+22%) from 2016

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

2017

Assets$2,028,911
Liabilities$332,796
Net Assets$1,696,115

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

2017

Revenue$611,762
Expenses$711,885
Net Income-$100,123
Jump To
Filing Snapshot
Filing Period
Nov 1, 2016 to Oct 31, 2017
Signed
May 11, 2018
Return Version
2016v3.1
Gross Receipts
$824,474
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$2,062,351$1,825,945▼ $236,406
Pledges and Grants Receivable$172,620$45,893▼ $126,727
Accounts Receivable$7,360$23,260▲ $15,900
Cash and Non-Interest-Bearing Accounts$50,983$14,845▼ $36,138
Savings and Temporary Cash Investments$850$7,616▲ $6,766
Inventories for Sale or Use$4,106$5,210▲ $1,104
Prepaid Expenses and Deferred Charges$2,204$231▼ $1,973
Total Assets$2,352,304$2,028,911▼ $323,393
Other Assets Total$51,830$105,911▲ $54,081
Liabilities
Mortgage Notes Payable Secured by Investment Property$519,963$286,463▼ $233,500
Accounts Payable and Accrued Expenses$28,606$39,038▲ $10,432
Escrow Account Liability$5,903$4,903▼ $1,000
Other Liabilities$10,265$2,392▼ $7,873
Total Liabilities$564,737$332,796▼ $231,941
Net Assets / Fund Balance
Unrestricted Net Assets$1,754,849$1,614,386▼ $140,463
Temporarily Rstr Net Assets$32,718$81,729▲ $49,011
Total Net Assets Fund Balance$1,787,567$1,696,115▼ $91,452
Total Liabilities and Net Assets / Fund Balance$2,352,304$2,028,911▼ $323,393

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,443,991$441,943$1,885,934
Land$381,954-$381,954
Other Assets Org$105,911--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$24,111-▲ $5,011$3,040$26,082
2015$100,283-▲ $4,164$80,336$24,111
2014$107,194-▼ $2,661$4,250$100,283
2013$110,634$300▲ $8,730$12,470$107,194
2012$98,354$500▲ $11,780-$110,634
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Meg TaintorArtistic DirectorFT$62,000$5,160$67,160

Board Members and Trustees

NameTitle
Mary Kay RicksCo-chair
Ray MccaskeyCo-chair
Annie HollandDirector
Ariane Van BurenDirector
Bill AndersonDirector
Grace GregorDirector
John McveighDirector
John OllmanDirector
John SteedDirector
Judy MccaskeyDirector
Lynn KneedlerDirector
Martha SpectorDirector
Morgan WithamDirector
Peter RichardsDirector
Robert TobinDirector
Carol EsteyDirector Eme
Joan SorensenDirector Eme
Judith JeromeDirector Eme
Linda NelsonDirector Eme
Linda PattieDirector Eme
Richard K HoweDirector Eme
Stan BergenDirector Eme
Debbie WeilClerk
Robert T LaskyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$407,164
Program Service Revenue
$172,614
Investment Income
$-44,550
Other Revenue
$76,534
All Other Contributions
$407,164
Change in Net Assets
$-100,123

Audited Revenue Reconciliation

Revenue per Audited Statements
$611,762
Revenue Not Reported on Form 990
$76,937
Total Revenue per Audited Statements
$688,699
Total Revenue per Form 990
$611,762
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$379,155
Salaries, Compensation, and Employee Benefits$332,730
Total Fundraising Expense$54,985
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$202,387$37,180$45,438$285,005
Depreciation Depletion$59,268--$59,268
Occupancy$51,375$2,259-$53,634
Advertising$32,576$2,005$3,339$37,920
Payroll Taxes$16,435$11,512$3,757$31,704
Interest$18,949$1,635-$20,584
Other Employee Benefits$5,335$8,706-$14,041
Insurance-$12,614-$12,614
Other Expenses$4,068$3,127$43$7,238
Fees for Services Accounting$4,325$2,175-$6,500
Office Expenses$3,389$1,960-$5,349
All Other Expenses$1,105$3,210-$4,315
Pension Plan Contributions$1,980--$1,980
Travel$89$1,265$284$1,638
Fees for Services Legal-$1,493-$1,493
Fees for Services Other$68$49-$117
Total Functional Expenses$562,290$94,610$54,985$711,885

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$743,776
Expenses per Audited Statements$711,885
Total Expenses per Form 990$711,885
Expenses Not Reported on Form 990$31,891
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$82,690
Fundraising Direct Expenses$13,265
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$82,690$82,690$13,265$69,425
Total Events$82,690$82,690$13,265$69,425
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Cnb Line-of-credit$2,392
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

Ray mccaskey judy mccaskey vice chair director married linda nelson judith jerome director eme director eme domestic partners

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

The producing artistic director and the treasurer review 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 an 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 a direct or indirect interest.

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

As provided in the employment agreement between opera house arts and the producing artistic director, the process of determining compensation for the producing artistic director includes 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.

Form 990, Page 6, Part VI, Line 19

Governing documents, policies and financial statements are made available upon request.

Filing and Contact Details

Filer

Filer Name
Opera House Arts
EIN
01-0526734
Address
PO BOX 56, STONINGTON, ME 04681

Signing Officer

Name
Robert T Lasky
Title
Treasurer
Signed
2018-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ray Mccaskey
Formed
1999
Legal Domicile
Me
Voting Board Members
18
Independent Board Members
17
Employees
39
Volunteers
100

Preparer

Firm
Cheryl L Boulet CPA
Address
PO BOX 775, BLUE HILL, ME 04614-5929
Preparer
Cheryl L Boulet CPA
Phone
2073742400
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Realized & unrealized gains 8,671

Financial Statement Notes

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

From time to time, opera house arts enters 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 board-designated endowment fund has been established to provide funding for the organization's programs.

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

Cost of goods sold 18,626 event expenses 13,265 loss on sale of assets 45,046

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

Cost of goods sold 18,626 event expenses 13,265

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IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR EME
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Document Assets

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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