Civic Intelligence

Virginia Opera Foundation

990 • Fiscal year 2016 • EIN 54-1647973

Jul 01, 2015 to Jun 30, 2016 • Filed on May 15, 2017

Organization ProfileN/A
PO Box 2580Norfolk, VA 23501

(757) 627-9545

Siviq Scores

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

Liabilities / Assets

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

98th percentile

89%

Higher net margin than 98% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

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

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

86th percentile

58%

Faster asset growth than 86% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

5th percentile

-70%

Faster revenue growth than 5% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$4,287

Up $1,575 (+58%) from 2015

Net Assets

Up

$4,287

Up $1,575 (+58%) from 2015

Liabilities

Flat

$0

Flat from 2015

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin98th percentile

Revenue

Down

$1,765

Down $4,099 (-70%) from 2015

Expenses

Down

$190

Down $3,965 (-95%) from 2015

Net Income

Down

$1,575

Down $134 (-7.8%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth86th percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $2,488,127Liabilities 2011: $0Net Assets 2011: $2,488,1272011Assets 2012: $2,303,424Liabilities 2012: $0Net Assets 2012: $2,303,4242012Assets 2013: $12,336Liabilities 2013: $0Net Assets 2013: $12,3362013Assets 2014: $303Liabilities 2014: $0Net Assets 2014: $3032014Assets 2015: $2,712Liabilities 2015: $0Net Assets 2015: $2,7122015Assets 2016: $4,287Liabilities 2016: $0Net Assets 2016: $4,2872016Assets 2017: $11,321Liabilities 2017: $0Net Assets 2017: $11,3212017Assets 2018: $11,603Liabilities 2018: $0Net Assets 2018: $11,6032018Assets 2019: $18,848Liabilities 2019: $0Net Assets 2019: $18,8482019Assets 2020: $22,888Liabilities 2020: $0Net Assets 2020: $22,8882020Assets 2021: $24,803Liabilities 2021: $0Net Assets 2021: $24,8032021Assets 2022: $48,480Liabilities 2022: $0Net Assets 2022: $48,4802022Assets 2023: $86,996Liabilities 2023: $0Net Assets 2023: $86,9962023Assets 2024: $103,412Liabilities 2024: $0Net Assets 2024: $103,4122024

Highlighted filing

2016

Assets$4,287
Liabilities$0
Net Assets$4,287
Open 2016 Filing

Operations Trend

Revenue Growth5th percentile

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

$4.0M$2.0M$0-$2.0M-$4.0MRevenue 2011: $200,750Expenses 2011: $102,952Net Income 2011: $97,7982011Revenue 2012: $81,429Expenses 2012: $91,914Net Income 2012: -$10,4852012Revenue 2013: $135,217Expenses 2013: $2,306,779Net Income 2013: -$2,171,5622013Revenue 2014: $0Expenses 2014: $12,033Net Income 2014: -$12,0332014Revenue 2015: $5,864Expenses 2015: $4,155Net Income 2015: $1,7092015Revenue 2016: $1,765Expenses 2016: $190Net Income 2016: $1,5752016Revenue 2017: $7,034Expenses 2017: $0Net Income 2017: $7,0342017Revenue 2018: $282Expenses 2018: $0Net Income 2018: $2822018Revenue 2019: $7,245Expenses 2019: $0Net Income 2019: $7,2452019Revenue 2020: $4,040Expenses 2020: $0Net Income 2020: $4,0402020Revenue 2021: $1,915Expenses 2021: $0Net Income 2021: $1,9152021Revenue 2022: $33,083Expenses 2022: $0Net Income 2022: $33,0832022Revenue 2023: $38,149Expenses 2023: $0Net Income 2023: $38,1492023Revenue 2024: $1,627Expenses 2024: $0Net Income 2024: $1,6272024

Highlighted filing

2016

Revenue$1,765
Expenses$190
Net Income$1,575
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 15, 2017
Return Version
2015v3.0
Gross Receipts
$1,765
Mission and Program Overview

Mission

To raise funds in support of the virginia opera association, inc, a 501(c)(3) organization. The virginia opera association enriches the lives of the general public through opera performances, education, and community outreach.

To raise funds in support of the virginia opera associations, inc., a 501 (c)(3) organization.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$2,712$4,287▲ $1,575
Total Assets$2,712$4,287▲ $1,575
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets-$4,287-
Permanently Rstr Net Assets$2,712--
Total Net Assets Fund Balance$2,712$4,287▲ $1,575
Total Liabilities and Net Assets / Fund Balance$2,712$4,287▲ $1,575

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$4,287--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$3,004-▲ $1,764-$4,768
2015$6,360---$3,004
2014$8,393$10,000-$12,033$6,360
2013$3,098,507$45,014▲ $104,070$3,240,198$8,393
2012$3,005,109$13,448▼ $88,599$168,549$3,098,507
Compensation and Service Providers
Top Officer Pay75th percentile

Board Members and Trustees

NameTitle
Robert VelandDirector of
Alan HessTrustee
Allan ReynoldsTrustee
Beth McclellandTrustee
Henry GarrityTrustee
Mary Z ZeugnerTrustee
The Honorable Lydia C TaylorTrustee
William M WaldropTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$1,765
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,765
Change in Net Assets
$1,575

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,765
Total Revenue per Audited Statements
$1,765
Total Revenue per Form 990
$1,765
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$190
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses-$190-$190
Total Functional Expenses$0$190$0$190

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$190
Total Expenses per Audited Statements$190
Total Expenses per Form 990$190
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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

“REVIEWED BY MANAGEMENT”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Virginia Opera Foundation
EIN
54-1647973
Address
PO BOX 2580, NORFOLK, VA 23501

Signing Officer

Name
Robert Veland
Title
Director of Finance
Phone
7576229548
Signed
2017-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Veland
Formed
1992
Legal Domicile
Va
Voting Board Members
8
Independent Board Members
8
Employees
0

Preparer

Firm
Jones CPA Group Pc
Address
749 BOUSH STREET, NORFOLK, VA 23510
Preparer
Kenneth R Kwedar CPA
Phone
7576277672
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

“Endowment funds are used to support the virginia opera associations, which is a related 501(c)(3) organization. The transactions of the endowment funds listed on schedule d, part v are summarized on a consolidated basis with the virginia opera association.”

Schedule D, Page 3, Part X

“The foundation have each been recognized by the internal revenue service as tax exempt under section 501(c)(3) of the internal revenue code. However, income from certain activities not directly related to the associations's tax exempt purpose is subject to taxation as unrelated business income. The association is subject to unrelated business taxable income. The foundation believes they have appropriate support for any tax positions taken and, as such, do not have uncertain tax positions that are material to the combined financial statements. Federal tax returns (from 990) for the foundation for the period from june 30, 2013, 2014, 2015 and the year ended june 30, 2016 are subject to examination by the irs, generally three years after they were filed.”

Raw XML Appendix321 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ENDOWMENT FUNDS ARE USED TO SUPPORT THE VIRGINIA OPERA ASSOCIATIONS, WHICH IS A RELATED 501(C)(3) ORGANIZATION. THE TRANSACTIONS OF THE ENDOWMENT FUNDS LISTED ON SCHEDULE D, PART V ARE SUMMARIZED ON A CONSOLIDATED BASIS WITH THE VIRGINIA OPERA ASSOCIATION.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION HAVE EACH BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS TAX EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE ASSOCIATIONS'S TAX EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. THE ASSOCIATION IS SUBJECT TO UNRELATED BUSINESS TAXABLE INCOME. THE FOUNDATION BELIEVES THEY HAVE APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AND, AS SUCH, DO NOT HAVE UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE COMBINED FINANCIAL STATEMENTS. FEDERAL TAX RETURNS (FROM 990) FOR THE FOUNDATION FOR THE PERIOD FROM JUNE 30, 2013, 2014, 2015 AND THE YEAR ENDED JUNE 30, 2016 ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY THREE YEARS AFTER THEY WERE FILED.
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IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0true
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02712
IRS990/TotalAssetsEOYAmt04287
IRS990/TotalAssetsGrp/BOYAmt02712
IRS990/TotalAssetsGrp/EOYAmt04287
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01765
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0190
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0190
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02712
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04287
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01765
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02712
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04287
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/EOYAmt04287
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ROBERT VELAND
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR OF FINANCE
ReturnHeader/BusinessOfficerGrp/PhoneNum07576229548
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VIRGINIA OPERA FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0VIRG
ReturnHeader/Filer/EIN0541647973
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 2580
ReturnHeader/Filer/USAddress/CityNm0NORFOLK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd023501
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0541208437
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0JONES CPA GROUP PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0749 BOUSH STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NORFOLK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd023510
ReturnHeader/PreparerPersonGrp/PhoneNum07576277672
ReturnHeader/PreparerPersonGrp/PreparationDt02017-05-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KENNETH R KWEDAR CPA
ReturnHeader/ReturnTs02017-05-15T16:57:41-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,287
Liabilities
$0
Net assets
$4,287
Revenue
$1,765
Expenses
$190
Net income
$1,575
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.10$0.00$0.10$0.00$0.00$0.00
2023Detailed filing. Detailed filing data is available for this year.$0.09$0.00$0.09$0.04$0.00$0.04
2022Detailed filing. Detailed filing data is available for this year.$0.05$0.00$0.05$0.03$0.00$0.03
2021Detailed filing. Detailed filing data is available for this year.$0.02$0.00$0.02$0.00$0.00$0.00
2020Detailed filing. Detailed filing data is available for this year.$0.02$0.00$0.02$0.00$0.00$0.00
2019Detailed filing. Detailed filing data is available for this year.$0.02$0.00$0.02$0.01$0.00$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.01$0.00$0.01$0.00$0.00$0.00
2017Detailed filing. Detailed filing data is available for this year.$0.01$0.00$0.01$0.01$0.00$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00
2015Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.01$0.00$0.00
2014Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.01$0.01
2013Summary only. Only limited summary data is available for this year.$0.01$0.00$0.01$0.14$2.31$2.17
2012Summary only. Only limited summary data is available for this year.$2.30$0.00$2.30$0.08$0.09$0.01
2011Summary only. Only limited summary data is available for this year.$2.49$0.00$2.49$0.20$0.10$0.10