Civic Intelligence

Tri-Cities Opera Company Inc.

990 • Fiscal year 2015 • EIN 15-0544166

Jul 01, 2014 to Jun 30, 2015 • Filed on Oct 26, 2015

Organization ProfileWWW.TRICITIESOPERA.COM
315 Clinton StreetBinghamton, NY 13905

(607) 729-3444

Siviq Scores

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

Liabilities / Assets

81st percentile

0.38x

Higher debt load relative to assets than 81% of similar nonprofits.

2015 filings • NTEE A • $500k-$1M nonprofits • Source year 2015

Liabilities / Revenue

86th percentile

0.46x

Higher debt load relative to revenue than 86% of similar nonprofits.

2015 filings • NTEE A • $500k-$1M nonprofits • Source year 2015

Net Margin

12th percentile

-25%

Higher net margin than 12% of similar nonprofits.

2015 filings • NTEE A • $500k-$1M nonprofits • Source year 2015

Top Officer Pay

48th percentile

$0

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • NTEE A • $500k-$1M nonprofits • Source year 2015

Asset Growth

59th percentile

3.8%

Faster asset growth than 59% of similar nonprofits.

2015 filings • NTEE A • $500k-$1M nonprofits • Annualized from 2014 to 2015

Revenue Growth

18th percentile

-20%

Faster revenue growth than 18% of similar nonprofits.

2015 filings • NTEE A • $500k-$1M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$932,825

Up $34,481 (+3.8%) from 2014

Net Assets

Down

$578,627

Down $201,627 (-26%) from 2014

Liabilities

Up

$354,198

Up $236,108 (+200%) from 2014

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin12th percentile

Revenue

Down

$768,334

Down $190,028 (-20%) from 2014

Expenses

Down

$960,026

Down $111,436 (-10%) from 2014

Net Income

Down

-$191,692

Down $78,592 (-69%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth59th percentile

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

$1.5M$1.0M$500K$0Assets 2012: $1,355,126Liabilities 2012: $158,405Net Assets 2012: $1,196,7212012Assets 2013: $1,012,673Liabilities 2013: $119,320Net Assets 2013: $893,3532013Assets 2014: $898,344Liabilities 2014: $118,090Net Assets 2014: $780,2542014Assets 2015: $932,825Liabilities 2015: $354,198Net Assets 2015: $578,6272015Assets 2016: $938,627Liabilities 2016: $499,729Net Assets 2016: $438,8982016Assets 2017: $995,428Liabilities 2017: $506,833Net Assets 2017: $488,5952017Assets 2018: $1,246,326Liabilities 2018: $590,778Net Assets 2018: $655,5482018Assets 2019: $995,876Liabilities 2019: $584,861Net Assets 2019: $411,0152019Assets 2021: $861,485Liabilities 2021: $414,482Net Assets 2021: $447,0032021Assets 2022: $1,346,820Liabilities 2022: $235,057Net Assets 2022: $1,111,7632022Assets 2023: $1,085,227Liabilities 2023: $224,904Net Assets 2023: $860,3232023Assets 2024: $988,026Liabilities 2024: $330,879Net Assets 2024: $657,1472024

Highlighted filing

2015

Assets$932,825
Liabilities$354,198
Net Assets$578,627
Open 2015 Filing

Operations Trend

Revenue Growth18th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2012: $951,2382012Expenses 2013: $941,0772013Revenue 2014: $958,362Expenses 2014: $1,071,462Net Income 2014: -$113,1002014Revenue 2015: $768,334Expenses 2015: $960,026Net Income 2015: -$191,6922015Revenue 2016: $894,689Expenses 2016: $1,019,734Net Income 2016: -$125,0452016Revenue 2017: $979,812Expenses 2017: $930,078Net Income 2017: $49,7342017Revenue 2018: $1,124,973Expenses 2018: $958,183Net Income 2018: $166,7902018Revenue 2019: $716,654Expenses 2019: $963,607Net Income 2019: -$246,9532019Revenue 2021: $417,630Expenses 2021: $340,720Net Income 2021: $76,9102021Revenue 2022: $1,617,088Expenses 2022: $954,205Net Income 2022: $662,8832022Revenue 2023: $659,972Expenses 2023: $980,054Net Income 2023: -$320,0822023Revenue 2024: $863,726Expenses 2024: $1,068,693Net Income 2024: -$204,9672024

Highlighted filing

2015

Revenue$768,334
Expenses$960,026
Net Income-$191,692
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Oct 26, 2015
Return Version
2014v5.0
Gross Receipts
$792,235
Mission and Program Overview

Mission

To benefit, enrich and educate our community by producing professional quality opera using the talents of young artists, in addition to educating young audiences and developing new audiences to appreciate opera

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$429,905$439,159▲ $9,254
Investments in Publicly Traded Securities$330,972$262,741▼ $68,231
Accounts Receivable$40,684$97,539▲ $56,855
Loans From Officers Directors-$75,000-
Cash and Non-Interest-Bearing Accounts$62,128$73,324▲ $11,196
Prepaid Expenses and Deferred Charges$11,698$17,874▲ $6,176
Inventories for Sale or Use$2,252$2,832▲ $580
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Total Assets$898,344$932,825▲ $34,481
Other Assets Total$20,705$39,356▲ $18,651
Liabilities
Mortgage Notes Payable Secured by Investment Property$50,114$203,555▲ $153,441
Deferred Revenue$32,370$48,321▲ $15,951
Accounts Payable and Accrued Expenses$35,606$22,688▼ $12,918
Other Liabilities-$4,634-
Total Liabilities$118,090$354,198▲ $236,108
Net Assets / Fund Balance
Unrestricted Net Assets$691,978$397,435▼ $294,543
Permanently Rstr Net Assets$88,276$101,743▲ $13,467
Temporarily Rstr Net Assets-$79,449-
Total Net Assets Fund Balance$780,254$578,627▼ $201,627
Total Liabilities and Net Assets / Fund Balance$898,344$932,825▲ $34,481

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$319,593$481,925$801,518
Other Land Buildings$14,437$735,438$749,875
Equipment$57,083$212,455$269,538
Land$48,046-$48,046

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$88,276$13,467▲ $37,988$2,300$137,431
2013$88,276---$88,276
2012$88,276---$88,276
2011$88,276---$88,276
2010$88,276---$88,276
Compensation and Service Providers
Top Officer Pay48th percentile

Board Members and Trustees

NameTitle
Michael BogdasarianBoard Chair
Bari SklaroffVice Chair
Deborah EpsteinBoard Member
Donald GauseBoard Member
Joe MunkBoard Member
Mary Louise PerotBoard Member
Nancy BeckerBoard Member
Nicholas WanBoard Member
Robert DavisBoard Member
Susan AshbakerGen. Director
Nancy McreynoldsSecretary
Ronald PlattTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$520,042
Program Service Revenue
$219,243
Investment Income
$8,668
Other Revenue
$20,381
All Other Contributions
$474,042
Change in Net Assets
$-191,692

Audited Revenue Reconciliation

Revenue per Audited Statements
$768,334
Revenue Not Reported on Form 990
$21,551
Total Revenue per Audited Statements
$789,885
Total Revenue per Form 990
$768,334
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$525,681
Other Expenses$421,582
Grants and Similar Amounts Paid$12,763
Total Fundraising Expense$2,495
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$243,809$126,430-$370,239
Fees for Services Other$102,214--$102,214
Current Officers, Directors, Trustees, and Key Employees-$75,272-$75,272
All Other Expenses$8,588$52,107$2,495$63,190
Other Employee Benefits-$46,040-$46,040
Payroll Taxes$18,679$15,451-$34,130
Insurance-$28,474-$28,474
Fees for Services Accounting-$22,720-$22,720
Depreciation Depletion$359$17,819-$18,178
Other Expenses$118,700$14,442-$14,442
Grants to Domestic Individuals$12,763--$12,763
Advertising-$3,860-$3,860
Interest-$2,347-$2,347
Fees for Service Investment Mgmnt Fees-$280-$280
Travel-$53-$53
Total Functional Expenses$505,112$452,419$2,495$960,026

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$981,577
Expenses per Audited Statements$960,026
Total Expenses per Form 990$960,026
Expenses Not Reported on Form 990$21,551
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$39,450
Fundraising Direct Expenses$21,551
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Misc Events$23,524$23,524$12,397$11,127
NEW YEAR'S EVE EVENT$15,926$15,926$9,154$6,772
Total Events$39,450$39,450$21,551$17,899
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees-$75,000-
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Set and Costume Deposits$4,634
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
Yes
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, Part VI, Line 11B: Form 990 Review Process

“Form 990 and financial statements are reviewed and discussed by board prior to filing”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Monitors during board meetings”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“Discussed at board meeting”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“Discussed at board meeting”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“All information is available upon request”

Filing and Contact Details

Filer

Filer Name
Tri-cities Opera Company Inc
EIN
15-0544166
Phone
6077293444
Address
315 CLINTON STREET, BINGHAMTON, NY 13905

Signing Officer

Name
Ronald Platt
Title
Treasurer
Signed
2015-10-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ronald Platt
Formed
1959
Legal Domicile
Ny
Voting Board Members
11
Independent Board Members
11
Employees
124
Volunteers
100

Preparer

Firm
Piaker & Lyons PC
Address
PO Box 1330, Binghamton, NY 13902-1330
Preparer
Amy E Brown
Phone
6077299373
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D: Other Program Services Description

“Other program services 4: the company gives scholarships to resident artists, obtains sponsorships during prouctions, and conducts auditions”

Financial Statement Notes

Part X : FIN48 Footnote

“The Company has adopted the provisions of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) No. 740, Income Taxes, as amended. Management has determined there were no liabilities for unrecognized tax benefits as a result of this implementation. Furthermore, management has estimated that there are no material unrecognized tax benefits for either the U.S. Federal or New York State jurisdictions for which it would be subject to income tax as of June 30, 2015 and as such, has not recognized any interest or penalties that would have been related to these benefits, if applicable.”

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

“Special events expenses $21551”

Part XII, Line 2D: Other expenses and losses per audited F/S

“Special events expenses $21551”

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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/MissionDesc0TO BENEFIT, ENRICH AND EDUCATE OUR COMMUNITY BY PRODUCING PROFESSIONAL QUALITY OPERA USING THE TALENTS OF YOUNG ARTISTS, IN ADDITION TO EDUCATING YOUNG AUDIENCES AND DEVELOPING NEW AUDIENCES TO APPRECIATE OPERA
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$932,825
Liabilities
$354,198
Net assets
$578,627
Revenue
$768,334
Expenses
$960,026
Net income
-$191,692
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.99$0.33$0.66$0.86$1.07$0.20
2023Summary only. Only limited summary data is available for this year.$1.09$0.22$0.86$0.66$0.98$0.32
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.35$0.24$1.11$1.62$0.95$0.66
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.86$0.41$0.45$0.42$0.34$0.08
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.00$0.58$0.41$0.72$0.96$0.25
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.25$0.59$0.66$1.12$0.96$0.17
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.00$0.51$0.49$0.98$0.93$0.05
2016Detailed filing. Detailed filing data is available for this year.$0.94$0.50$0.44$0.89$1.02$0.13
2015Detailed filing. Detailed filing data is available for this year.$0.93$0.35$0.58$0.77$0.96$0.19
2014Detailed filing. Detailed filing data is available for this year.$0.90$0.12$0.78$0.96$1.07$0.11
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.01$0.12$0.89$0.94
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.36$0.16$1.20$0.95
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2015 filings • 501(c)3 • $500k-$1M nonprofits