Civic Intelligence

Schenectady Light Opera Company Inc

990 • Fiscal year 2019 • EIN 23-7224835

Jun 01, 2018 to May 31, 2019 • Filed on Oct 07, 2019

PO Box 1006Schenectady, NY 12301

(877) 350-7378

Siviq Scores

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

Liabilities / Assets

70th percentile

0.27x

Higher debt load relative to assets than 70% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

85th percentile

0.87x

Higher debt load relative to revenue than 85% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

82nd percentile

27%

Higher net margin than 82% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2019

Asset Growth

63rd percentile

8.0%

Faster asset growth than 63% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

89th percentile

54%

Faster revenue growth than 89% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Up

$1,470,299

Up $109,032 (+8.0%) from 2018

Net Assets

Up

$1,079,376

Up $122,623 (+13%) from 2018

Liabilities

Down

$390,923

Down $13,591 (-3.4%) from 2018

Revenue

Up

$449,831

Up $157,966 (+54%) from 2018

Expenses

Up

$327,208

Up $25,252 (+8.4%) from 2018

Net Income

Up

$122,623

Up $132,714 (+1315%) from 2018

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2015: $1,420,682Liabilities 2015: $450,725Net Assets 2015: $969,9572015Assets 2016: $1,433,512Liabilities 2016: $434,152Net Assets 2016: $999,3602016Assets 2017: $1,374,215Liabilities 2017: $412,842Net Assets 2017: $961,3732017Assets 2018: $1,361,267Liabilities 2018: $404,514Net Assets 2018: $956,7532018Assets 2019: $1,470,299Liabilities 2019: $390,923Net Assets 2019: $1,079,3762019Assets 2019: $1,508,321Liabilities 2019: $390,923Net Assets 2019: $1,117,3982019Assets 2020: $1,485,532Liabilities 2020: $405,242Net Assets 2020: $1,080,2902020Assets 2021: $1,485,017Liabilities 2021: $334,450Net Assets 2021: $1,150,5672021Assets 2022: $1,455,811Liabilities 2022: $336,756Net Assets 2022: $1,119,0552022Assets 2023: $1,388,319Liabilities 2023: $287,935Net Assets 2023: $1,100,3842023Assets 2024: $1,424,431Liabilities 2024: $279,929Net Assets 2024: $1,144,5022024

Highlighted filing

2019

Assets$1,470,299
Liabilities$390,923
Net Assets$1,079,376

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2015: $337,031Expenses 2015: $257,626Net Income 2015: $79,4052015Revenue 2016: $274,447Expenses 2016: $245,044Net Income 2016: $29,4032016Revenue 2017: $242,214Expenses 2017: $280,201Net Income 2017: -$37,9872017Revenue 2018: $291,865Expenses 2018: $301,956Net Income 2018: -$10,0912018Revenue 2019: $449,831Expenses 2019: $327,208Net Income 2019: $122,6232019Revenue 2019: $472,589Expenses 2019: $310,276Net Income 2019: $162,3132019Revenue 2020: $249,765Expenses 2020: $288,559Net Income 2020: -$38,7942020Revenue 2021: $235,578Expenses 2021: $188,249Net Income 2021: $47,3292021Revenue 2022: $223,254Expenses 2022: $250,713Net Income 2022: -$27,4592022Revenue 2023: $315,999Expenses 2023: $332,704Net Income 2023: -$16,7052023Revenue 2024: $359,366Expenses 2024: $334,487Net Income 2024: $24,8792024

Highlighted filing

2019

Revenue$449,831
Expenses$327,208
Net Income$122,623
Jump To
Filing Snapshot
Filing Period
Jun 1, 2018 to May 31, 2019
Signed
Oct 7, 2019
Return Version
2018v3.1
Gross Receipts
$449,831
Mission and Program Overview

Mission

Sloc's purpose is to develop an appreciation of the musical arts in the local comm by promoting and producing musical productions, and by taking an active role in local comm activities which foster art apprec

Sloc's purpose is to develop an appreciation of the musical arts in the local community by promoting and producing musical productions, and by taking an active role in local community activities which foster an art appreciation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,199,517$1,242,990▲ $43,473
Cash and Non-Interest-Bearing Accounts$52,326$122,892▲ $70,566
Prepaid Expenses and Deferred Charges$50,489$51,078▲ $589
Investments Program Related$49,970$51,057▲ $1,087
Savings and Temporary Cash Investments$7,269--
Accounts Receivable$0$0→ $0
Total Assets$1,361,267$1,470,299▲ $109,032
Other Assets Total$1,696$2,282▲ $586
Liabilities
Mortgage Notes Payable Secured by Investment Property$293,735$281,870▼ $11,865
Accounts Payable and Accrued Expenses$80,154$71,353▼ $8,801
Deferred Revenue$27,625$34,700▲ $7,075
Other Liabilities$3,000$3,000→ $0
Total Liabilities$404,514$390,923▼ $13,591
Net Assets / Fund Balance
Unrestricted Net Assets$956,753$1,079,376▲ $122,623
Total Net Assets Fund Balance$956,753$1,079,376▲ $122,623
Total Liabilities and Net Assets / Fund Balance$1,361,267$1,470,299▲ $109,032

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,192,208$468,063$1,660,271
Equipment$50,782$146,646$197,428
Investment Program Related Org$51,057--
Land$0--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Michael CameloPresident
Connie RauhauserVice President
Amy ClarkBoard Member
Audrey CarltonBoard Member
Diane SkibinskiBoard Member
Elizabeth Sherwood-MackBoard Member
Gary HoffmannBoard Member
Kelly SanfordBoard Member
Trish Scott- DemblingBoard Member
Adrienne ShermanSecretary
Mark ViscusiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$170,054
Program Service Revenue
$221,077
Investment Income
$2,800
Other Revenue
$55,900
All Other Contributions
$169,584
Change in Net Assets
$122,623
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$327,208
Total Fundraising Expense$1,557
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$81,503$0$0$81,503
Other Expenses$71,913$0$0$71,913
Depreciation Depletion$66,283$0$0$66,283
Insurance$38,961$0$0$38,961
Fees for Services Accounting$0$18,454$0$18,454
Interest$16,930$0$0$16,930
Advertising$6,523$350$0$6,873
Information Technology$0$6,500$0$6,500
All Other Expenses$1,988$0$1,557$3,545
Office Expenses$0$397$0$397
Total Functional Expenses$291,660$33,991$1,557$327,208
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
Security Deposit$3,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
No
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
Filing and Contact Details

Filer

Filer Name
Schenectady Light Opera Company Inc
EIN
23-7224835
Phone
8773507378
Address
PO BOX 1006, SCHENECTADY, NY 12301

Signing Officer

Name
Michael Camelo
Title
Board President
Phone
8773507378
Signed
2019-10-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Camelo
Formed
1979
Legal Domicile
Ny
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
250

Preparer

Firm
Stark & Basila CPAs PC
Address
132 Mohawk Street, Cohoes, NY 12047
Preparer
Marie E Stark
Phone
5182373641
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

The treasurer reviews and reports to the full board.

Pt VI, Line 19

Upon Request.

Pt XII, Line 2C

Finance Committee

Pt VI, Line 12C

Board requires annual conflict of interest statements

Pt XI

Rounding

Pt VI, Line 6

A voting member is a person who in the last two years has actively participated on a committee, in a production or otherwise volunteered their time and has paid annual dues.

Pt VI, Line 7A

Members of the Board are elected by the voting membersto 3 year terms at the annual meeting. Vacancies on the Board which arise mid-year are appointed by the remaining members of the Board to fill the opening until the next annual meeting.

Form 990, Part IX, Line 24E

Fundraising Expenses 1557. 0. 0. 1557.

Form 990, Part IX, Line 24E

Miscellaneous Expenses 320. 320. 0. 0.

Form 990, Part IX, Line 24E

Unrealized Loss 1668. 1668. 0. 0.

Financial Statement Notes

Pt X, Line 2

U.S. generally accepted accounting principles require Schenectady Light Opera Company, Inc. management to evalute tax positions taken by the Company and recognize a tax liability (or asset) if the Company has taken an uncertain tax position tht more than likely would not be sustained upon examination by the IRS. The Company's management has analyzed the tax positions taken by the Company and have concluded that as of July 15, 2020, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Company is subject to rotine audits by taxing jurisdictions, however, there are currently no audits for any tax period in progress.

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IRS990/OtherExpensesGrp/ProgramServicesAmt00
IRS990/OtherExpensesGrp/ProgramServicesAmt10
IRS990/OtherExpensesGrp/ProgramServicesAmt27559
IRS990/OtherExpensesGrp/ProgramServicesAmt371913
IRS990/OtherExpensesGrp/TotalAmt01549
IRS990/OtherExpensesGrp/TotalAmt16741
IRS990/OtherExpensesGrp/TotalAmt27559
IRS990/OtherExpensesGrp/TotalAmt371913
IRS990/OtherLiabilitiesGrp/BOYAmt03000
IRS990/OtherLiabilitiesGrp/EOYAmt03000
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt050489
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt051078
IRS990/PrincipalOfficerNm0Michael Camelo
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0711110
IRS990/ProgramServiceRevenueGrp/BusinessCd1711120
IRS990/ProgramServiceRevenueGrp/Desc0Income from Shows
IRS990/ProgramServiceRevenueGrp/Desc1Program Activity Fees
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/ExclusionAmt10
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0220372
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1705
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt10
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt037869
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt01874
IRS990/PYOtherExpensesAmt0301956
IRS990/PYOtherRevenueAmt056325
IRS990/PYProgramServiceRevenueAmt0195797
IRS990/PYRevenuesLessExpensesAmt0-10091
IRS990/PYTotalExpensesAmt0301956
IRS990/PYTotalRevenueAmt0291865
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0122623
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt055900
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0true
IRS990/RevenueAmt0449275
IRS990/SavingsAndTempCashInvstGrp/BOYAmt07269
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0170054
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt037869
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt041640
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt049591
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0134957
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0434111
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt058700
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt058199
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt061089
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt052048
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt059660
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0289696
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0221077
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0195797
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0139485
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0172808
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0142414
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0871581
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt058700
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt058199
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt061089
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt052048
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt059660
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0289696
IRS990ScheduleA/InvestmentIncomeCYPct00.18160
IRS990ScheduleA/InvestmentIncomePYPct00.20410
IRS990ScheduleA/OtherSupportSumAmt00
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IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00.81840
IRS990ScheduleA/PublicSupportPY509Pct00.79590
IRS990ScheduleA/PublicSupportTotal509Amt01305692
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0391131
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0233666
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0181125
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0222399
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0277371
IRS990ScheduleA/Total509Grp/TotalAmt01305692
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01595388
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt01192208
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0468063
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01660271
IRS990ScheduleD/EquipmentGrp/BookValueAmt050782
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0146646
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0197428
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt051057
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0Mutual funds
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0F
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Security Deposit
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0U.S. generally accepted accounting principles require Schenectady Light Opera Company, Inc. management to evalute tax positions taken by the Company and recognize a tax liability (or asset) if the Company has taken an uncertain tax position tht more than likely would not be sustained upon examination by the IRS. The Company's management has analyzed the tax positions taken by the Company and have concluded that as of July 15, 2020, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Company is subject to rotine audits by taxing jurisdictions, however, there are currently no audits for any tax period in progress.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt X, Line 2
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01242990
IRS990ScheduleD/TotalBookValueProgramRltdAmt051057
IRS990ScheduleD/TotalLiabilityAmt03000
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The treasurer reviews and reports to the full board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Upon Request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Finance Committee
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Board requires annual conflict of interest statements
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Rounding
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5A voting member is a person who in the last two years has actively participated on a committee, in a production or otherwise volunteered their time and has paid annual dues.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Members of the Board are elected by the voting membersto 3 year terms at the annual meeting. Vacancies on the Board which arise mid-year are appointed by the remaining members of the Board to fill the opening until the next annual meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Fundraising Expenses 1557. 0. 0. 1557.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Miscellaneous Expenses 320. 320. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Unrealized Loss 1668. 1668. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt XII, Line 2c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt XI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Pt VI, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Pt VI, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Form 990, Part IX, Line 24e
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false

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