Civic Intelligence

Michigan Opera Theatre

990 • Fiscal year 2014 • EIN 38-2052726

Jul 01, 2013 to Jun 30, 2014 • Filed on May 11, 2015

1526 BroadwayDetroit, MI 48226

(313) 961-3500

Siviq Scores

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

Liabilities / Assets

36th percentile

0.18x

Higher debt load relative to assets than 36% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Liabilities / Revenue

70th percentile

0.89x

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

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Net Margin

9th percentile

-14%

Higher net margin than 9% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Top Officer Pay

37th percentile

$263,220

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 2.5% of source-year revenue.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Asset Growth

16th percentile

-2.7%

Faster asset growth than 16% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2013 to 2014

Revenue Growth

20th percentile

-6.2%

Faster revenue growth than 20% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2013 to 2014

Assets

Down

$51,017,028

Down $1,439,182 (-2.7%) from 2013

Net Assets

Down

$41,678,967

Down $1,398,380 (-3.2%) from 2013

Liabilities

Down

$9,338,061

Down $40,802 (-0.4%) from 2013

Revenue

Down

$10,521,715

Down $697,149 (-6.2%) from 2013

Expenses

Up

$12,023,736

Up $567,235 (+5.0%) from 2013

Net Income

Down

-$1,502,021

Down $1,264,384 (-532%) from 2013

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2010: $57,584,335Liabilities 2010: $23,203,088Net Assets 2010: $34,381,2472010Assets 2011: $55,123,580Liabilities 2011: $22,709,108Net Assets 2011: $32,414,4722011Assets 2012: $53,277,423Liabilities 2012: $9,957,690Net Assets 2012: $43,319,7332012Assets 2013: $52,456,210Liabilities 2013: $9,378,863Net Assets 2013: $43,077,3472013Assets 2014: $51,017,028Liabilities 2014: $9,338,061Net Assets 2014: $41,678,9672014Assets 2015: $51,190,535Liabilities 2015: $8,569,410Net Assets 2015: $42,621,1252015Assets 2016: $52,272,620Liabilities 2016: $8,970,305Net Assets 2016: $43,302,3152016Assets 2017: $53,189,004Liabilities 2017: $8,825,731Net Assets 2017: $44,363,2732017Assets 2018: $47,857,990Liabilities 2018: $7,415,494Net Assets 2018: $40,442,4962018Assets 2019: $48,765,402Liabilities 2019: $7,008,942Net Assets 2019: $41,756,4602019Assets 2020: $46,258,681Liabilities 2020: $6,179,345Net Assets 2020: $40,079,3362020Assets 2021: $46,812,293Liabilities 2021: $6,335,032Net Assets 2021: $40,477,2612021Assets 2022: $51,625,944Liabilities 2022: $9,131,661Net Assets 2022: $42,494,2832022Assets 2023: $51,718,290Liabilities 2023: $9,174,324Net Assets 2023: $42,543,9662023Assets 2024: $49,591,867Liabilities 2024: $9,342,013Net Assets 2024: $40,249,8542024

Highlighted filing

2014

Assets$51,017,028
Liabilities$9,338,061
Net Assets$41,678,967

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2010: $11,994,7922010Expenses 2011: $11,989,8432011Expenses 2012: $12,051,4672012Revenue 2013: $11,218,864Expenses 2013: $11,456,501Net Income 2013: -$237,6372013Revenue 2014: $10,521,715Expenses 2014: $12,023,736Net Income 2014: -$1,502,0212014Revenue 2015: $13,836,941Expenses 2015: $12,823,595Net Income 2015: $1,013,3462015Revenue 2016: $15,437,009Expenses 2016: $14,796,119Net Income 2016: $640,8902016Revenue 2017: $16,515,482Expenses 2017: $15,538,195Net Income 2017: $977,2872017Revenue 2018: $12,560,900Expenses 2018: $15,945,158Net Income 2018: -$3,384,2582018Revenue 2019: $19,092,403Expenses 2019: $17,522,933Net Income 2019: $1,569,4702019Revenue 2020: $12,539,753Expenses 2020: $14,203,243Net Income 2020: -$1,663,4902020Revenue 2021: $9,178,032Expenses 2021: $8,909,778Net Income 2021: $268,2542021Revenue 2022: $20,610,976Expenses 2022: $18,177,656Net Income 2022: $2,433,3202022Revenue 2023: $20,797,237Expenses 2023: $21,017,080Net Income 2023: -$219,8432023Revenue 2024: $17,012,919Expenses 2024: $19,517,916Net Income 2024: -$2,504,9972024

Highlighted filing

2014

Revenue$10,521,715
Expenses$12,023,736
Net Income-$1,502,021
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
May 11, 2015
Return Version
2013v4.0
Gross Receipts
$11,584,214
Mission and Program Overview

Mission

The mission of the detroit opera is to be one of the outstanding opera companies in the united states and, in particular, to serve as a major cultural resource to the city of detroit and the state of michigan.

The production and presentation of opera, ballet and musical theater to the general public.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$47,580,507$46,265,258▼ $1,315,249
Cash and Non-Interest-Bearing Accounts$2,642,850$1,951,502▼ $691,348
Investments in Publicly Traded Securities$1,691,528$1,868,623▲ $177,095
Pledges and Grants Receivable$73,074$396,031▲ $322,957
Prepaid Expenses and Deferred Charges$327,535$259,621▼ $67,914
Accounts Receivable$68,483$221,818▲ $153,335
Total Assets$52,456,210$51,017,028▼ $1,439,182
Other Assets Total$72,233$54,175▼ $18,058
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,431,723$5,259,220▼ $172,503
Accounts Payable and Accrued Expenses$2,769,856$3,009,739▲ $239,883
Deferred Revenue$1,177,284$1,069,102▼ $108,182
Total Liabilities$9,378,863$9,338,061▼ $40,802
Net Assets / Fund Balance
Unrestricted Net Assets$38,903,719$37,202,739▼ $1,700,980
Permanently Rstr Net Assets$3,470,500$3,470,500→ $0
Temporarily Rstr Net Assets$703,128$1,005,728▲ $302,600
Total Net Assets Fund Balance$43,077,347$41,678,967▼ $1,398,380
Total Liabilities and Net Assets / Fund Balance$52,456,210$51,017,028▼ $1,439,182

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$38,947,516$20,377,765$59,325,281
Land$7,096,772-$7,096,772
Equipment$220,970$4,902,368$5,123,338

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$4,173,628$427,600-$125,000$4,476,228
2013$3,570,500$653,128-$50,000$4,173,628
2012$3,470,500$100,000--$3,570,500
2011$3,500,500--$30,000$3,470,500
2010$3,675,500--$175,000$3,500,500
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr David Dichiera Pres Thru1/15/14 Founder & Artistic DirectorFT$215,093$48,127$263,220

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Sd&a TeleservicesMarketing/fundraising-$262,008
US FoodserviceFood Delivery-$123,104
Building Service Specialists INCMaintenance-$103,024
Revenue and Support

Revenue Composition

Contributions and Grants
$3,946,698
Program Service Revenue
$3,438,145
Investment Income
$78,062
Other Revenue
$3,058,810
All Other Contributions
$3,512,348
Change in Net Assets
$-1,502,021

Audited Revenue Reconciliation

Revenue per Audited Statements
$10,521,715
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$814,105
Total Revenue per Audited Statements
$11,335,820
Total Revenue per Form 990
$10,521,715
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,504,888
Salaries, Compensation, and Employee Benefits$4,442,098
Total Fundraising Expense$696,816
Professional Fundraising Fees$76,750
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,638,394$1,632,906$308,808$3,580,108
Depreciation Depletion$1,559,687$39,504-$1,599,191
All Other Expenses$691,255$122,079$19,494$832,828
Advertising$770,516$17,744$583$788,843
Occupancy$565,842$134,361$65,534$765,737
Current Officers, Directors, Trustees, and Key Employees$138,242$185,638$71,095$394,975
Payroll Taxes$144,839$149,708$29,024$323,571
Interest$145,058$96,705-$241,763
Other Expenses$232,429--$232,429
Insurance$155,813$51,937-$207,750
Office Expenses$72,546$100,163$32,032$204,741
Fees for Services Other-$146,614-$146,614
Other Employee Benefits$11,955$107,997$23,492$143,444
Information Technology$90,177$33,944-$124,121
Fees for Services Professional Fundraising--$76,750$76,750
Royalties$66,998--$66,998
Conferences and Meetings--$65,841$65,841
Travel$37,845$24,934$1,335$64,114
Fees for Services Accounting$37,845$2,827$2,828$43,500
Fees for Services Legal$1,938$1,938-$3,876
Total Functional Expenses$8,477,921$2,848,999$696,816$12,023,736

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$12,734,200
Expenses per Audited Statements$12,023,736
Total Expenses per Form 990$12,023,736
Expenses Not Reported on Form 990$710,464
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$523,518
Fundraising Direct Expenses$304,120
Professional Fundraising Fees$76,750

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$814,918$523,518$168,547$354,971
Total Events$814,918$523,518$304,120$219,398
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
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 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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Herman frankel and barbara frankel, both on the board of directors are married.

Form 990, Part VI, Section B, Line 11

The form 990 will not be reviewed before it is submitted to the irs.

Form 990, Part VI, Section B, Line 12C

Each year, all board of directors' are asked to read and sign a conflict of interest statement.

Form 990, Part VI, Section B, Line 15

Compensation packages of officers and key employees are reviewed by the president and the finance committee (when requiring approval by the board) and/or selection committee.

Form 990, Part VI, Section C, Line 18

All documents are made available to the public upon request.

Form 990, Part VI, Section C, Line 19

The governing documents, conflict of interest policy and financial statements are available to the public upon request.

Filing and Contact Details

Filer

EIN
38-2052726
Phone
3139613500

Signing Officer

Name
Dr David Dichiera
Title
President & CEO
Phone
3132373411
Signed
2015-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Wayne Brown
Formed
1971
Legal Domicile
Mi
Voting Board Members
49
Independent Board Members
48
Employees
610
Volunteers
650

Preparer

Preparer
Robert Gawthrop CPA
Phone
2482443000
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The organization has not changed the oversight process for the audit of its financial statements.

Financial Statement Notes

PART V, LINE 4:

The intended use of the organization's endowment funds is to support and sponsor school programs for opera, support young artists future performances and development, to support significant principal artists in future opera performances, and to support the operations of the opera house.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Direct expenses netted to special events gross revenue 304,120. Cost of goods sold 265,771. Rental expenses 140,573.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Direct expenses netted to special events gross revenue 304,120. Cost of goods sold 265,771. Rental expenses 140,573.

Raw XML AppendixShowing 400 of 939 raw XML fields

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/Form990PartVIISectionAGrp/OtherCompensationAmt048127
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt510
IRS990/Form990PartVIISectionAGrp/PersonNm0DR DAVID DICHIERA PRES THRU
IRS990/Form990PartVIISectionAGrp/PersonNm1R JAMISON WILLIAMS JR
IRS990/Form990PartVIISectionAGrp/PersonNm2CAMERON B DUNCAN
IRS990/Form990PartVIISectionAGrp/PersonNm3C THOMAS TOPPIN
IRS990/Form990PartVIISectionAGrp/PersonNm4MAGGIE ALLESEE
IRS990/Form990PartVIISectionAGrp/PersonNm5DOUGLAS F ALLISON
IRS990/Form990PartVIISectionAGrp/PersonNm6JOSEPH ANGILERI
IRS990/Form990PartVIISectionAGrp/PersonNm7MARIANNE ENDICOTT
IRS990/Form990PartVIISectionAGrp/PersonNm8PAUL E EWING
IRS990/Form990PartVIISectionAGrp/PersonNm9ROBERT BROWN
IRS990/Form990PartVIISectionAGrp/PersonNm10DR LORNA THOMAS
IRS990/Form990PartVIISectionAGrp/PersonNm11JOANNE DANTO
IRS990/Form990PartVIISectionAGrp/PersonNm12RICHARD A BRODIE
IRS990/Form990PartVIISectionAGrp/PersonNm13BARBARA FRANKEL
IRS990/Form990PartVIISectionAGrp/PersonNm14HERMAN FRANKEL
IRS990/Form990PartVIISectionAGrp/PersonNm15BARBARA KRATCHMAN
IRS990/Form990PartVIISectionAGrp/PersonNm16SHELLY COOPER
IRS990/Form990PartVIISectionAGrp/PersonNm17JOHN P HALE
IRS990/Form990PartVIISectionAGrp/PersonNm18MELODY LEE
IRS990/Form990PartVIISectionAGrp/PersonNm19DEAN FRIEDMAN
IRS990/Form990PartVIISectionAGrp/PersonNm20RICHARD G GOETZ
IRS990/Form990PartVIISectionAGrp/PersonNm21JULIA DONOVAN DARLOW
IRS990/Form990PartVIISectionAGrp/PersonNm22DANIALLE KARMANOS
IRS990/Form990PartVIISectionAGrp/PersonNm23W JAMES PROWSE
IRS990/Form990PartVIISectionAGrp/PersonNm24DR CHARLOTTE PODOWSKI
IRS990/Form990PartVIISectionAGrp/PersonNm25LIL ERDELJAN
IRS990/Form990PartVIISectionAGrp/PersonNm26TERRY SHEA
IRS990/Form990PartVIISectionAGrp/PersonNm27DENISE LUTZ
IRS990/Form990PartVIISectionAGrp/PersonNm28NORA MOROUN
IRS990/Form990PartVIISectionAGrp/PersonNm29THOMAS M KRIKORIAN
IRS990/Form990PartVIISectionAGrp/PersonNm30HARRY A LOMASON II
IRS990/Form990PartVIISectionAGrp/PersonNm31DR STEPHEN MUNK
IRS990/Form990PartVIISectionAGrp/PersonNm32ALPHONSE S LUCARELLI
IRS990/Form990PartVIISectionAGrp/PersonNm33GEORGE C VINCENT
IRS990/Form990PartVIISectionAGrp/PersonNm34DANIEL PEHRSON
IRS990/Form990PartVIISectionAGrp/PersonNm35RUTH RATTNER
IRS990/Form990PartVIISectionAGrp/PersonNm36ROY S ROBERTS
IRS990/Form990PartVIISectionAGrp/PersonNm37ELHAM SHAYOTA
IRS990/Form990PartVIISectionAGrp/PersonNm38LEE BARTHEL
IRS990/Form990PartVIISectionAGrp/PersonNm39BETTY BROOKS
IRS990/Form990PartVIISectionAGrp/PersonNm40GLORIA CLARK
IRS990/Form990PartVIISectionAGrp/PersonNm41LAWRENCE N DAVID
IRS990/Form990PartVIISectionAGrp/PersonNm42JENNIFER FISCHER
IRS990/Form990PartVIISectionAGrp/PersonNm43DAVID HANDLEMAN
IRS990/Form990PartVIISectionAGrp/PersonNm44ETHAN DAVIDSON
IRS990/Form990PartVIISectionAGrp/PersonNm45DR IRVIN D REID
IRS990/Form990PartVIISectionAGrp/PersonNm46WAYNE S BROWN
IRS990/Form990PartVIISectionAGrp/PersonNm47DONALD MANVELL
IRS990/Form990PartVIISectionAGrp/PersonNm48DR ALI MOIIN
IRS990/Form990PartVIISectionAGrp/PersonNm49DR BERNARD RUBIN
IRS990/Form990PartVIISectionAGrp/PersonNm50MATTHEW SIMONCINI
IRS990/Form990PartVIISectionAGrp/PersonNm51RICHARD SONENKLAR
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt0215093
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$49.6$9.34$40.2$17.0$19.5$2.50
2023Detailed filing. Detailed filing data is available for this year.$51.7$9.17$42.5$20.8$21.0$0.22
2022Detailed filing. Detailed filing data is available for this year.$51.6$9.13$42.5$20.6$18.2$2.43
2021Detailed filing. Detailed filing data is available for this year.$46.8$6.34$40.5$9.18$8.91$0.27
2020Detailed filing. Detailed filing data is available for this year.$46.3$6.18$40.1$12.5$14.2$1.66
2019Detailed filing. Detailed filing data is available for this year.$48.8$7.01$41.8$19.1$17.5$1.57
2018Detailed filing. Detailed filing data is available for this year.$47.9$7.42$40.4$12.6$15.9$3.38
2017Detailed filing. Detailed filing data is available for this year.$53.2$8.83$44.4$16.5$15.5$0.98
2016Detailed filing. Detailed filing data is available for this year.$52.3$8.97$43.3$15.4$14.8$0.64
2015Detailed filing. Detailed filing data is available for this year.$51.2$8.57$42.6$13.8$12.8$1.01
2014Detailed filing. Detailed filing data is available for this year.$51.0$9.34$41.7$10.5$12.0$1.50
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$52.5$9.38$43.1$11.2$11.5$0.24
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$53.3$9.96$43.3$12.1
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$55.1$22.7$32.4$12.0
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$57.6$23.2$34.4$12.0