Civic Intelligence

New York City Opera

EIN 13-2974347 • 501(c)3 • New York, NY

Profile

New york city opera was famously dubbed "the people's opera" by mayor fiorello laguardia at its founding in 1943. More than 70 years later, city opera continues its historic mission to inspire audiences with innovative and theatrically compelling opera, nurture the work of promising american artists, and build new audiences through affordable ticket prices and extensive outreach and education programs.

513 W 26th StreetNew York, NY 10001

www.nycopera.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

99th percentile

7.17x

Higher debt load relative to assets than 99% of similar nonprofits.

NTEE A • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

92nd percentile

1.15x

Higher debt load relative to revenue than 92% of similar nonprofits.

NTEE A • $1M-$5M nonprofits • Source year 2024

Net Margin

11th percentile

-35%

Higher net margin than 11% of similar nonprofits.

NTEE A • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

41st percentile

$9,615

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

NTEE A • $1M-$5M nonprofits • Source year 2024

Asset Growth

1st percentile

-72%

Faster asset growth than 1% of similar nonprofits.

NTEE A • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

26th percentile

-10%

Faster revenue growth than 26% of similar nonprofits.

NTEE A • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Down

$269,459

Down $707,844 (-72%) from 2023

Liabilities

Down

$1,931,480

Down $123,621 (-6.0%) from 2023

Net Assets

Down

-$1,662,021

Down $584,223 (-54%) from 2023

Revenue

Down

$1,686,729

Down $197,594 (-10%) from 2023

Expenses

Down

$2,274,260

Down $562,216 (-20%) from 2023

Net Income

Up

-$587,531

Up $364,622 (+38%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$20M$15M$10M$5.0M$0-$5.0MAssets 2010: $17,633,068Liabilities 2010: $7,978,961Net Assets 2010: $9,654,1072010Assets 2011: $11,673,581Liabilities 2011: $5,772,061Net Assets 2011: $5,901,5202011Assets 2012: $9,457,777Liabilities 2012: $6,574,723Net Assets 2012: $2,883,0542012Assets 2013: $7,572,241Liabilities 2013: $5,599,728Net Assets 2013: $1,972,5132013Assets 2014: $5,911,118Liabilities 2014: $5,825,085Net Assets 2014: $86,0332014Assets 2015: $5,644,401Liabilities 2015: $6,013,967Net Assets 2015: -$369,5662015Assets 2016: $10,529,000Liabilities 2016: $5,880,309Net Assets 2016: $4,648,6912016Assets 2017: $5,921,086Liabilities 2017: $5,696,737Net Assets 2017: $224,3492017Assets 2018: $4,990,381Liabilities 2018: $2,949,390Net Assets 2018: $2,040,9912018Assets 2019: $2,973,515Liabilities 2019: $2,190,293Net Assets 2019: $783,2222019Assets 2020: $2,669,880Liabilities 2020: $3,782,925Net Assets 2020: -$1,113,0452020Assets 2021: $2,464,472Liabilities 2021: $1,955,962Net Assets 2021: $508,5102021Assets 2022: $1,694,292Liabilities 2022: $1,806,983Net Assets 2022: -$112,6912022Assets 2023: $977,303Liabilities 2023: $2,055,101Net Assets 2023: -$1,077,7982023Assets 2024: $269,459Liabilities 2024: $1,931,480Net Assets 2024: -$1,662,0212024

Highlighted filing

2024

Assets$269,459
Liabilities$1,931,480
Net Assets-$1,662,021

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$40M$30M$20M$10M$0-$10MExpenses 2010: $30,799,9312010Expenses 2011: $30,338,8182011Expenses 2012: $14,883,1422012Revenue 2013: $13,312,876Expenses 2013: $14,392,958Net Income 2013: -$1,080,0822013Revenue 2014: $2,819,298Expenses 2014: $4,198,275Net Income 2014: -$1,378,9772014Revenue 2015: $381,975Expenses 2015: $608,712Net Income 2015: -$226,7372015Revenue 2016: $7,246,136Expenses 2016: $2,586,703Net Income 2016: $4,659,4332016Revenue 2017: $5,527,586Expenses 2017: $10,055,048Net Income 2017: -$4,527,4622017Revenue 2018: $10,250,400Expenses 2018: $8,386,980Net Income 2018: $1,863,4202018Revenue 2019: $4,038,309Expenses 2019: $5,251,872Net Income 2019: -$1,213,5632019Revenue 2020: $1,188,329Expenses 2020: $2,000,002Net Income 2020: -$811,6732020Revenue 2021: $3,221,600Expenses 2021: $1,719,328Net Income 2021: $1,502,2722021Revenue 2022: $2,207,574Expenses 2022: $2,626,443Net Income 2022: -$418,8692022Revenue 2023: $1,884,323Expenses 2023: $2,836,476Net Income 2023: -$952,1532023Revenue 2024: $1,686,729Expenses 2024: $2,274,260Net Income 2024: -$587,5312024

Highlighted filing

2024

Revenue$1,686,729
Expenses$2,274,260
Net Income-$587,531

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.27$1.93$1.66$1.69$2.27$0.59
2023Detailed filing. Detailed filing data is available for this year.$0.98$2.06$1.08$1.88$2.84$0.95
2022Detailed filing. Detailed filing data is available for this year.$1.69$1.81$0.11$2.21$2.63$0.42
2021Detailed filing. Detailed filing data is available for this year.$2.46$1.96$0.51$3.22$1.72$1.50
2020Detailed filing. Detailed filing data is available for this year.$2.67$3.78$1.11$1.19$2.00$0.81
2019Detailed filing. Detailed filing data is available for this year.$2.97$2.19$0.78$4.04$5.25$1.21
2018Detailed filing. Detailed filing data is available for this year.$4.99$2.95$2.04$10.3$8.39$1.86
2017Summary only. Only limited summary data is available for this year.$5.92$5.70$0.22$5.53$10.1$4.53
2016Summary only. Only limited summary data is available for this year.$10.5$5.88$4.65$7.25$2.59$4.66
2015Detailed filing. Detailed filing data is available for this year.$5.64$6.01$0.37$0.38$0.61$0.23
2014Detailed filing. Detailed filing data is available for this year.$5.91$5.83$0.09$2.82$4.20$1.38
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.57$5.60$1.97$13.3$14.4$1.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.46$6.57$2.88$14.9
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.7$5.77$5.90$30.3
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.6$7.98$9.65$30.8
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 12, 2025
Return Version
2023v6.0
Gross Receipts
$1,686,729
Mission and Program Overview

Mission

New york city opera was famously dubbed "the people's opera" by mayor fiorello laguardia at its founding in 1943. More than 70 year later, city opera continues its historic mission to inspire audiences with innovative and theatrically compelling opera, nurture the work of promising american artists, and build new audiences through affordable ticket prices and extensive outreach and education programs.

To inspire audiences with innovative and theatrically compelling opera.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$731,333$99,416▼ $631,917
Land, Buildings, and Equipment, Net$61,869$26,947▼ $34,922
Cash and Non-Interest-Bearing Accounts$103,230$14,302▼ $88,928
Prepaid Expenses and Deferred Charges$5,929$5,718▼ $211
Total Assets$977,303$269,459▼ $707,844
Other Assets Total$74,942$123,076▲ $48,134
Liabilities
Other Liabilities$1,145,606$1,068,862▼ $76,744
Accounts Payable and Accrued Expenses$862,802$862,618▼ $184
Deferred Revenue$46,693--
Total Liabilities$2,055,101$1,931,480▼ $123,621
Net Assets / Fund Balance
Net Assets With Donor Restrictions$4,757,461$4,757,461→ $0
Net Assets Without Donor Restrictions$-5,835,259$-6,419,482▼ $584,223
Total Net Assets Fund Balance$-1,077,798$-1,662,021▼ $584,223
Total Liabilities and Net Assets / Fund Balance$977,303$269,459▼ $707,844

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$398$1,119,854$1,120,252
Other Land Buildings$26,549$125,663$152,212
Leasehold Improvements-$24,677$24,677
Other Assets Org$32,171--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$731,333-▲ $18,084-$99,417
2022$1,415,302-▲ $41,031-$731,333
2021$2,022,210-▼ $131,908-$1,415,302
2020$1,838,305-▲ $183,905-$2,022,210
2019$1,952,418-▲ $35,960-$1,838,305
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Michael CapassoGeneral DireFT$9,615$9,615

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Dolland Transportation LLC--$146,912
Revenue and Support

Revenue Composition

Contributions and Grants
$363,746
Program Service Revenue
$245,088
Investment Income
$17,811
Other Revenue
$1,060,084
All Other Contributions
$363,746
Change in Net Assets
$-587,531

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,686,729
Revenue Not Reported on Form 990
$3,308
Total Revenue per Audited Statements
$1,690,037
Total Revenue per Form 990
$1,686,729
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,419,762
Salaries, Compensation, and Employee Benefits$854,498
Total Fundraising Expense$101,693
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$401,770$206,230$37,576$645,576
Office Expenses$163,186$83,384$15,409$261,979
Other Employee Benefits$91,810$46,915$8,667$147,392
All Other Expenses$49,154$11,196$2,069$62,419
Payroll Taxes$32,338$16,521$3,056$51,915
Travel$29,994$15,326$2,833$48,153
Insurance-$36,447-$36,447
Depreciation Depletion$21,753$11,116$2,054$34,923
Other Expenses$27,782$3,589$3,278$34,649
Fees for Services Accounting-$30,800-$30,800
Current Officers, Directors, Trustees, and Key Employees$6,346$2,308$961$9,615
Fees for Services Legal-$6,155-$6,155
Interest-$707-$707
Total Functional Expenses$1,562,317$610,250$101,693$2,274,260

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,274,260
Total Expenses per Audited Statements$2,274,260
Total Expenses per Form 990$2,274,260
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Sba Loan$500,000
Pension Accrual$232,340
Notes to General Unsecured Creditors$135,000
Pension Fund$101,369
Ppp Loan$52,109
Loans Payable$26,771
Checks in Transit$21,273
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
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
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

On september 6, 2024, constantine orbelian, the signer of form 990 and char500 for fiscal year june 30, 2024, replaced michael capasso who retired from his position as executive director. Constantine orbelian receives no compensation.

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

The form 990 is prepared by an independent accounting firm and is reviewed by management with the accountants. The entire form 990 with all schedules is e-mailed in pdf format to every voting board member prior to submitting the form to the internal revenue service.

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

The organization has a conflict of interest policy that covers all members of the board of directors and officers. Covered persons are required to disclose annually any actual and potential conflicts to the board chair, who shall bring the matter to the attention of the entire board for review and determination of whether any actual conflict exists and the appropriate action to be taken. Any board member with a potential conflict of interest is to recuse oneself from participating in the discussion and voting on the matter.

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

The organization's personnel committee chaired by the treasurer is responsible for reviewing and approving the general director's annual compensation. The personnel committee reviews comparable data of similar types of organizations within the same geographic area to determine the compensation of the general director. The personnel committee communicates its conclusions reached on the general director's compensation to the board of directors.

Form 990, Page 6, Part VI, Line 19

The organization will make its form 990 available for public inspection as required under section 6104 of the internal revenue code by posting it on guidestar.org and other similar types of websites. In addition, forms 990 and 1023 are availabe upon written requests.

Filing and Contact Details

Filer

Filer Name
New York City Opera
EIN
13-2974347
Phone
6469811888
Address
513 W 26TH STREET, NEW YORK, NY 10001

Signing Officer

Name
Constantine Orbelian
Title
Executive Director
Phone
6469811888
Signed
2025-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Constantine Orbelian
Formed
1978
Legal Domicile
Ny
Voting Board Members
11
Independent Board Members
11
Employees
57
Volunteers
10

Preparer

Firm
Hutman & Hutman Llp
Address
435 E COUNTY LINE RD, LAKEWOOD, NJ 08701-1426
Preparer
David Hutman CPA
Phone
7329616272
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

New york city opera was famously dubbed "the people's opera" by mayor fiorello laguardia at its founding in 1943. More than 70 years later, city opera continues its historic mission to inspire audiences with innovative and theatrically compelling opera, nurture the work of promising american artists, and build new audiences through affordable ticket prices and extensive outreach and education programs.

Form 990, Page 2, Part III, Line 4A

City opera's current administration utilizes a unique, entrepreneurial business model by creating artistic and operational partnerships, forging strong relationships with union and venues, and engaging both new and traditional audiences. Continuing its historic commitment to educational outreach, the company provides opportunities for thousand of new york city school children to attend city opera dress rehearsals, where they meet cast members and crew and learn about careers in the performing arts. For many, this is their first live opera experience. Throughout its season, city opera also presented hour-long, family-friendly adaptations of classic opera, introducing opera to the very youngest audiences. Renewing its tradition of bringing opera to the widest possible audience, city opera also presented free opera performances in bryant park, enabling thousands of new yorkers to experience opera in a relaxed, familiar environment.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0CITY OPERA'S CURRENT ADMINISTRATION UTILIZES A UNIQUE, ENTREPRENEURIAL BUSINESS MODEL BY CREATING ARTISTIC AND OPERATIONAL PARTNERSHIPS, FORGING STRONG RELATIONSHIPS WITH UNION AND VENUES, AND ENGAGING BOTH NEW AND TRADITIONAL AUDIENCES. CONTINUING ITS HISTORIC COMMITMENT TO EDUCATIONAL OUTREACH, THE COMPANY PROVIDES OPPORTUNITIES FOR THOUSAND OF NEW YORK CITY SCHOOL CHILDREN TO ATTEND CITY OPERA DRESS REHEARSALS, WHERE THEY MEET CAST MEMBERS AND CREW AND LEARN ABOUT CAREERS IN THE PERFORMING ARTS. FOR MANY, THIS IS THEIR FIRST LIVE OPERA EXPERIENCE. THROUGHOUT ITS SEASON, CITY OPERA ALSO PRESENTED HOUR-LONG, FAMILY-FRIENDLY ADAPTATIONS OF CLASSIC OPERA, INTRODUCING OPERA TO THE VERY YOUNGEST AUDIENCES. RENEWING ITS TRADITION OF BRINGING OPERA TO THE WIDEST POSSIBLE AUDIENCE, CITY OPERA ALSO PRESENTED FREE OPERA PERFORMANCES IN BRYANT PARK, ENABLING THOUSANDS OF NEW YORKERS TO EXPERIENCE OPERA IN A RELAXED, FAMILIAR ENVIRONMENT.
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