Civic Intelligence

Syracuse Opera Company Inc.

990 • Fiscal year 2019 • EIN 23-7167068

Jul 01, 2018 to Jun 30, 2019 • Filed on May 14, 2020

PO Box 1223Syracuse, NY 13201

(315) 475-5915

Siviq Scores

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

Liabilities / Assets

98th percentile

2.08x

Higher debt load relative to assets than 98% of similar nonprofits.

2019 filings • NTEE A • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

93rd percentile

0.70x

Higher debt load relative to revenue than 93% of similar nonprofits.

2019 filings • NTEE A • $500k-$1M nonprofits • Source year 2019

Net Margin

29th percentile

-5.2%

Higher net margin than 29% of similar nonprofits.

2019 filings • NTEE A • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

81st percentile

$72,388

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 13.5% of source-year revenue.

2019 filings • NTEE A • $500k-$1M nonprofits • Source year 2019

Asset Growth

3rd percentile

-51%

Faster asset growth than 3% of similar nonprofits.

2019 filings • NTEE A • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

37th percentile

-1.7%

Faster revenue growth than 37% of similar nonprofits.

2019 filings • NTEE A • $500k-$1M nonprofits • Annualized from 2018 to 2019

Assets

Down

$179,469

Down $190,445 (-51%) from 2018

Net Assets

Down

-$193,723

Down $27,777 (-17%) from 2018

Liabilities

Down

$373,192

Down $162,668 (-30%) from 2018

Revenue

Down

$536,745

Down $9,037 (-1.7%) from 2018

Expenses

Up

$564,522

Up $20,451 (+3.8%) from 2018

Net Income

Down

-$27,777

Down $29,488 (-1723%) from 2018

Historical Trend

Balance Sheet Trend

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

$1.0M$500K$0-$500KAssets 2012: $700,167Liabilities 2012: $501,117Net Assets 2012: $199,0502012Assets 2013: $518,353Liabilities 2013: $603,912Net Assets 2013: -$85,5592013Assets 2014: $561,837Liabilities 2014: $704,597Net Assets 2014: -$142,7602014Assets 2015: $572,616Liabilities 2015: $719,669Net Assets 2015: -$147,0532015Assets 2016: $487,645Liabilities 2016: $628,261Net Assets 2016: -$140,6162016Assets 2017: $398,079Liabilities 2017: $565,736Net Assets 2017: -$167,6572017Assets 2018: $369,914Liabilities 2018: $535,860Net Assets 2018: -$165,9462018Assets 2019: $179,469Liabilities 2019: $373,192Net Assets 2019: -$193,7232019Assets 2020: $39,906Liabilities 2020: $249,401Net Assets 2020: -$209,4952020Assets 2021: $259,906Liabilities 2021: $256,360Net Assets 2021: $3,5462021Assets 2022: $186,797Liabilities 2022: $304,517Net Assets 2022: -$117,7202022Assets 2023: $40,608Liabilities 2023: $343,381Net Assets 2023: -$302,7732023Assets 2024: $11,895Liabilities 2024: $340,367Net Assets 2024: -$328,4722024

Highlighted filing

2019

Assets$179,469
Liabilities$373,192
Net Assets-$193,723

Operations Trend

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

$1.5M$1.0M$500K$0-$500KExpenses 2012: $845,5492012Expenses 2013: $999,9662013Revenue 2014: $727,876Expenses 2014: $785,078Net Income 2014: -$57,2022014Revenue 2015: $1,076,405Expenses 2015: $783,757Net Income 2015: $292,6482015Revenue 2016: $619,886Expenses 2016: $613,449Net Income 2016: $6,4372016Revenue 2017: $525,875Expenses 2017: $552,916Net Income 2017: -$27,0412017Revenue 2018: $545,782Expenses 2018: $544,071Net Income 2018: $1,7112018Revenue 2019: $536,745Expenses 2019: $564,522Net Income 2019: -$27,7772019Revenue 2020: $446,746Expenses 2020: $462,518Net Income 2020: -$15,7722020Revenue 2021: $421,792Expenses 2021: $217,749Net Income 2021: $204,0432021Revenue 2022: $331,499Expenses 2022: $452,765Net Income 2022: -$121,2662022Revenue 2023: $320,681Expenses 2023: $505,734Net Income 2023: -$185,0532023Revenue 2024: $10,341Expenses 2024: $36,039Net Income 2024: -$25,6982024

Highlighted filing

2019

Revenue$536,745
Expenses$564,522
Net Income-$27,777
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
May 14, 2020
Return Version
2018v3.1
Gross Receipts
$547,838
Mission and Program Overview

Mission

The syracuse opera company, inc. Is a not-for-profit company whose core values are artistic excellence, integrity, and community enrichment. Its purpose is to enrich the lives of the people of upstate new york through locally produced opera, the one all inclusive art form that celebrates the beauty of human singing voice energized through the spectacle of live theater.

Production of professional opera performances

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$364,164$107,508▼ $256,656
Pledges and Grants Receivable-$69,000-
Loans From Officers Directors$10,000$55,000▲ $45,000
Prepaid Expenses and Deferred Charges$1,972$2,072▲ $100
Land, Buildings, and Equipment, Net$3,778$889▼ $2,889
Total Assets$369,914$179,469▼ $190,445
Liabilities
Mortgage Notes Payable Secured by Investment Property$434,829$165,699▼ $269,130
Accounts Payable and Accrued Expenses$51,433$98,433▲ $47,000
Deferred Revenue$39,598$54,060▲ $14,462
Total Liabilities$535,860$373,192▼ $162,668
Net Assets / Fund Balance
Permanently Rstr Net Assets$346,129$125,701▼ $220,428
Unrestricted Net Assets$-512,075$-319,424▲ $192,651
Total Net Assets Fund Balance$-165,946$-193,723▼ $27,777
Total Liabilities and Net Assets / Fund Balance$369,914$179,469▼ $190,445
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Lisa SmithExecutive DiFT$72,388$72,388

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$366,889
Program Service Revenue
$163,475
Investment Income
$1,763
Other Revenue
$4,618
All Other Contributions
$217,617
Change in Net Assets
$-27,777

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
Other Non Cash Contri Table15$91,924
Total Noncash Contributions15$91,924

Audited Revenue Reconciliation

Revenue per Audited Statements
$536,745
Revenue Not Reported on Form 990
$72,963
Total Revenue per Audited Statements
$609,708
Total Revenue per Form 990
$536,745
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$440,558
Salaries, Compensation, and Employee Benefits$123,964
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$66,885$13,683-$80,568
Current Officers, Directors, Trustees, and Key Employees-$72,388-$72,388
Other Salaries and Wages-$36,457-$36,457
Other Expenses$33,721--$33,721
Occupancy-$21,900-$21,900
Travel$20,062--$20,062
Interest$14,853--$14,853
Office Expenses-$12,401-$12,401
Advertising-$12,126-$12,126
Fees for Services Accounting-$12,050-$12,050
Other Employee Benefits-$9,188-$9,188
Insurance-$6,577-$6,577
Payroll Taxes-$5,931-$5,931
Fees for Services Other-$3,885-$3,885
Depreciation Depletion-$2,889-$2,889
Total Functional Expenses$355,047$209,475$0$564,522

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$637,485
Expenses per Audited Statements$564,522
Total Expenses per Form 990$564,522
Expenses Not Reported on Form 990$72,963
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$11,093
Fundraising Gross Income$10,114
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Special Event$30,114$10,114$11,093$-979
Total Events$30,114$10,114$11,093$-979
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$10,000$55,000▲ $45,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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, Page 6, Part VI, Line 11B

The form 990 was delivered to the finance committee within the board, for review and approval before submission to the irs.

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

A copy of this policy shall be given to all board members, staff members, volunteers or other key stakeholders upon commencement of such person's relationship with syracuse opera, or at the official adoption of stated policy. Each board member, officer, staff member, and volunteer shall sign and date the policy at the beginning of her/his term of service or employment and each year thereafter. Failure to sign does not nullify the policy. This policy and disclosure form must be filed annually by all specified parties

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

The process for determining compensation for the general and artistic director, or any key members of the organization is voted on by the board after deliberation.

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

The process for determining compensation for the general and artistic director, or any key members of the organization is voted on by the board after deliberation.

Form 990, Page 6, Part VI, Line 18

AVAILABLE UPON REQUEST

Form 990, Page 6, Part VI, Line 19

AVAILABLE UPON REQUEST

Filing and Contact Details

Filer

Filer Name
Syracuse Opera Company Inc
EIN
23-7167068
Phone
3154755915
Address
PO BOX 1223, SYRACUSE, NY 13201

Signing Officer

Name
Lisa Smith
Title
Executive Director
Phone
3154755915
Signed
2020-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lisa Smith
Formed
1974
Voting Board Members
19
Independent Board Members
19
Employees
5

Preparer

Firm
Tette Ingersoll & Co Cpas Pc
Address
6536 ANTHONY DR SUITE B, VICTOR, NY 14564-1403
Preparer
Jason J Mayausky CPA
Phone
5854106733
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The syracuse opera company, inc. Is a not-for-profit company whose core values are artistic excellence, integrity, and community enrichment. Its purpose is to enrich the lives of the people of upstate new york through locally produced opera, the one all inclusive

Form 990, Part IX, Line 24E

Production costs 31,819 0 0 coustumes & make-up 12,958 0 0 equipment rental 7,000 0 0 bank and credit card fees 0 6,289 0 miscellaneous 0 5,811 0 light designer 4,620 0 0 scenery 4,428 0 0 set design 3,173 0 0 music 2,002 0 0 telecommunications 0 1,411 0 piano tuning 475 0 0 storgae 250 0 0 computer and it 0 172 0 auditions 160 0 0 total 66,885 13,683 0

Form 990, Part X

Part x, line 2: under fasb asc, income taxes, the organization recognizes potential liabilities associated with anticipated tax audit issues that may arise during an examination. Management analyzed its tax positions taken on their federal and state tax returns for the open years june 30, 2014 2015and 2016 based on management's analysis, the organization determined that there were no uncertain tax positions and that the organization should prevail upon examination by the taxing authorities.

Form 990, Part XI

Part xi, line 2d - other adjustments: contributions from special events

Form 990, Part XII

Part xii, line 2d - other adjustments: cost of special events part xii & part xiii 2b part xii and part xiii line 2b is the total in kind donations, which includes donated advertising, office and rehearsal space, that would otherwise be an expense to the organization. Part xii and part xiii line 2d is special events expense form 990, part xii, line 2c: the audit is presented to the finance committee for oversight.

Financial Statement Notes

Schedule D, Page 3, Part X

Under fasb asc, income taxes, the organization recognizes potential liabilities associated with anticipated tax audit issues that may arise during an examination. Management analyzed its tax positions taken on their federal and state tax returns for the open years june 30, 2016 2017 and 2018 based on management's analysis, the organization determined that there were no uncertain tax positions and that the organization should prevail upon examination by the taxing authorities.

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IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14EXECUTIVE DI
IRS990/Form990PartVIISectionAGrp/TitleTxt15SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt16TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt17CHAIRWOMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt18BOARD DEVELO
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IRS990/FormationYr01974
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IRS990/MissionDesc0THE SYRACUSE OPERA COMPANY, INC. IS A NOT-FOR-PROFIT COMPANY WHOSE CORE VALUES ARE ARTISTIC EXCELLENCE, INTEGRITY, AND COMMUNITY ENRICHMENT. ITS PURPOSE IS TO ENRICH THE LIVES OF THE PEOPLE OF UPSTATE NEW YORK THROUGH LOCALLY PRODUCED OPERA, THE ONE ALL INCLUSIVE
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IRS990/OtherExpensesGrp/Desc0ARTISTS
IRS990/OtherExpensesGrp/Desc1SOLOISTS
IRS990/OtherExpensesGrp/Desc2THEATRE COSTS
IRS990/OtherExpensesGrp/Desc3THEATRE RENTAL
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IRS990/OtherInd0X
IRS990/OtherRevenueMiscGrp/BusinessCd0711190
IRS990/OtherRevenueMiscGrp/Desc0OTHER INCOME
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IRS990/PrincipalOfficerNm0LISA SMITH
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IRS990/ProgramServiceRevenueGrp/BusinessCd0711110
IRS990/ProgramServiceRevenueGrp/Desc0TICKET SALES
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IRS990/ProgSrvcAccomActy2Grp/Desc0SYRACUSE OPERA RESIDENT ARTISTS - AN OUTREACH AND EDUCATION PROGRAM FOR THE PRESENTATION OF OPERATIC PROGRAMS THROUGHOUT CENTRAL AND UPSTATE NEW YORK
IRS990/ProhibitedTaxShelterTransInd0false
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IRS990/ReconcilationRevenueExpnssAmt0-27777
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0163475
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt073,030
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt01763
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IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.95960
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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01870837
IRS990ScheduleA/TotalSupportAmt01949641
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0UNDER FASB ASC, INCOME TAXES, THE ORGANIZATION RECOGNIZES POTENTIAL LIABILITIES ASSOCIATED WITH ANTICIPATED TAX AUDIT ISSUES THAT MAY ARISE DURING AN EXAMINATION. MANAGEMENT ANALYZED ITS TAX POSITIONS TAKEN ON THEIR FEDERAL AND STATE TAX RETURNS FOR THE OPEN YEARS JUNE 30, 2016 2017 AND 2018 BASED ON MANAGEMENT'S ANALYSIS, THE ORGANIZATION DETERMINED THAT THERE WERE NO UNCERTAIN TAX POSITIONS AND THAT THE ORGANIZATION SHOULD PREVAIL UPON EXAMINATION BY THE TAXING AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt020000
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IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0SPECIAL EVENT
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.01$0.34$0.33$0.01$0.04$0.03
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.04$0.34$0.30$0.32$0.51$0.19
2022Detailed filing. Detailed filing data is available for this year.$0.19$0.30$0.12$0.33$0.45$0.12
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.26$0.26$0.00$0.42$0.22$0.20
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.04$0.25$0.21$0.45$0.46$0.02
2019Detailed filing. Detailed filing data is available for this year.$0.18$0.37$0.19$0.54$0.56$0.03
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.37$0.54$0.17$0.55$0.54$0.00
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.40$0.57$0.17$0.53$0.55$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.49$0.63$0.14$0.62$0.61$0.01
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.57$0.72$0.15$1.08$0.78$0.29
2014Detailed filing. Detailed filing data is available for this year.$0.56$0.70$0.14$0.73$0.79$0.06
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.52$0.60$0.09$1.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.70$0.50$0.20$0.85