Civic Intelligence

Finger Lakes Opera Inc.

990 • Fiscal year 2020 • EIN 81-4716749

Jan 01, 2020 to Dec 31, 2020 • Filed on Sep 21, 2021

PO Box 18610Rochester, NY 14618

(585) 576-7774

Siviq Scores

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

Liabilities / Assets

48th percentile

0.00x

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

2020 filings • NTEE A • <$500k nonprofits • Source year 2020

Liabilities / Revenue

47th percentile

0.00x

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

2020 filings • NTEE A • <$500k nonprofits • Source year 2020

Net Margin

32nd percentile

-8.3%

Higher net margin than 32% of similar nonprofits.

2020 filings • NTEE A • <$500k nonprofits • Source year 2020

Top Officer Pay

87th percentile

$25,730

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 17.4% of source-year revenue.

2020 filings • NTEE A • <$500k nonprofits • Source year 2020

Asset Growth

16th percentile

-25%

Faster asset growth than 16% of similar nonprofits.

2020 filings • NTEE A • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

17th percentile

-70%

Faster revenue growth than 17% of similar nonprofits.

2020 filings • NTEE A • <$500k nonprofits • Annualized from 2019 to 2020

Assets

Down

$181,464

Down $61,230 (-25%) from 2019

Net Assets

Down

$181,464

Down $1,230 (-0.7%) from 2019

Liabilities

Down

$0

Down $60,000 (-100%) from 2019

Revenue

Down

$148,206

Down $338,449 (-70%) from 2019

Expenses

Down

$160,551

Down $140,446 (-47%) from 2019

Net Income

Down

-$12,345

Down $198,003 (-107%) from 2019

Historical Trend

Balance Sheet Trend

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

$300K$200K$100K$0-$100KAssets 2016: $1,000Liabilities 2016: $02016Assets 2017: $137,871Liabilities 2017: $74,942Net Assets 2017: $62,9292017Assets 2018: $44,200Liabilities 2018: $47,164Net Assets 2018: -$2,9642018Assets 2019: $242,694Liabilities 2019: $60,000Net Assets 2019: $182,6942019Assets 2020: $181,464Liabilities 2020: $0Net Assets 2020: $181,4642020Assets 2021: $145,874Liabilities 2021: $0Net Assets 2021: $145,8742021Assets 2022: $48,995Liabilities 2022: $3,511Net Assets 2022: $45,4842022Assets 2023: $52,036Liabilities 2023: $97,976Net Assets 2023: -$45,9402023Assets 2024: $32,507Liabilities 2024: $121,284Net Assets 2024: -$88,7772024

Highlighted filing

2020

Assets$181,464
Liabilities$0
Net Assets$181,464

Operations Trend

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

$800K$600K$400K$200K$0-$200KRevenue 2016: $1,000Expenses 2016: $0Net Income 2016: $1,0002016Revenue 2017: $279,325Expenses 2017: $217,396Net Income 2017: $61,9292017Revenue 2018: $210,340Expenses 2018: $276,233Net Income 2018: -$65,8932018Revenue 2019: $486,655Expenses 2019: $300,997Net Income 2019: $185,6582019Revenue 2020: $148,206Expenses 2020: $160,551Net Income 2020: -$12,3452020Revenue 2021: $335,519Expenses 2021: $380,779Net Income 2021: -$45,2602021Revenue 2022: $307,269Expenses 2022: $369,178Net Income 2022: -$61,9092022Revenue 2023: $541,289Expenses 2023: $632,713Net Income 2023: -$91,4242023Revenue 2024: $508,935Expenses 2024: $551,772Net Income 2024: -$42,8372024

Highlighted filing

2020

Revenue$148,206
Expenses$160,551
Net Income-$12,345
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Sep 21, 2021
Return Version
2020v4.1
Gross Receipts
$148,206
Mission and Program Overview

Mission

To create and produce professional opera productions and programs on a not-for-profit basis in the greater rochester & finger lakes areas of new york state. Flo is committed to cultivating, promoting, developing and providing operatic experiences to the finger lakes area encompassing ontario & monroe counties.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities-$153,921-
Loans From Officers Directors$60,000--
Cash and Non-Interest-Bearing Accounts$242,694$27,543▼ $215,151
Total Assets$242,694$181,464▼ $61,230
Liabilities
Total Liabilities$60,000$0▼ $60,000
Net Assets / Fund Balance
Net Assets With Donor Restrictions$150,000$137,500▼ $12,500
Net Assets Without Donor Restrictions$32,694$43,964▲ $11,270
Total Net Assets Fund Balance$182,694$181,464▼ $1,230
Total Liabilities and Net Assets / Fund Balance$242,694$181,464▼ $61,230
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Elizabeth LongExecutive DirectorFT$24,333$1,397$25,730

Board Members and Trustees

NameTitle
Rose-marie KlipsteinPresident
Suzanne GouvernetVice President
Barbara WalkerBoard Member
Christopher DahlBoard Member
Deborah OnslowBoard Member
James WalkerBoard Member
Johanna LesterBoard Member
Margaret SanchezBoard Member
Nancy WilliamsBoard Member
Helen ZamboniSecretary
Patricia CareyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$126,118
Program Service Revenue
$16,336
Investment Income
$2,889
Other Revenue
$2,863
All Other Contributions
$113,218
Change in Net Assets
$-12,345

Audited Revenue Reconciliation

Revenue per Audited Statements
$148,206
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$11,115
Total Revenue per Audited Statements
$159,321
Total Revenue per Form 990
$148,206
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$119,502
Salaries, Compensation, and Employee Benefits$41,049
Total Fundraising Expense$3,587
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$40,449$23,072-$63,521
Advertising$33,761-$3,587$37,348
Current Officers, Directors, Trustees, and Key Employees-$25,730-$25,730
Other Salaries and Wages$13,833--$13,833
Office Expenses$2,386$1,761-$4,147
Insurance-$1,607-$1,607
Payroll Taxes-$1,486-$1,486
Travel$1,050--$1,050
Other Expenses$1,402$377-$377
All Other Expenses-$282-$282
Total Functional Expenses$102,649$54,315$3,587$160,551

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$160,551
Total Expenses per Audited Statements$160,551
Total Expenses per Form 990$160,551
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$60,000--
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Business relationship with 35% controlled entity
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, Section A, Line 2

Barbara and james walker are married and are both board members.

Form 990, Part VI, Section B, Line 11B

A draft copy of form 990 is provided electronically to the board of directors for review and comment prior to filing the return.

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

The organization requires board members and officers to disclose conflicts of interest on an annual basis. Any conflicts of interest that are identified are evaluated by the board of directors and evaluated for appropriateness.

Form 990, Part VI, Section B, Line 15

The organization's executive and artistic directors were independent contractors in 2019. Midway through 2020 the executive and artistic directors were hired as w-2 employees. The board evaluated and approved the executive and artistic directors' compensation as w-2 employees.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available upon request.

Filing and Contact Details

Filer

Filer Name
Finger Lakes Opera
EIN
81-4716749
Phone
5855767774
Address
PO BOX 18610, ROCHESTER, NY 14618

Signing Officer

Name
Patricia Carey
Title
Treasurer
Phone
5855767774
Signed
2021-09-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Patricia Carey
Formed
2016
Legal Domicile
Ny
Voting Board Members
11
Independent Board Members
11
Employees
2
Volunteers
10

Preparer

Firm
Bonadio & Co Llp
Address
171 SULLYS TRAIL, PITTSFORD, NY 14534
Preparer
Joseph Peplin
Phone
5853811000
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Professional fees: program service expenses 0. Management and general expenses 6,405. Fundraising expenses 0. Total expenses 6,405. Contracted employees: program service expenses 40,449. Management and general expenses 16,667. Fundraising expenses 0. Total expenses 57,116.

Form 990 Part XII Line 1

No changes from prior year

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

FUNDRAISING EXPENSES

PART XII, LINE 2D - OTHER ADJUSTMENTS:

FUNDRAISING EXPENSES

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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt17000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt21069
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3400
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0323115
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt011000
IRS990/PYInvestmentIncomeAmt0331
IRS990/PYOtherExpensesAmt0289997
IRS990/PYOtherRevenueAmt07681
IRS990/PYProgramServiceRevenueAmt0155528
IRS990/PYRevenuesLessExpensesAmt0185658
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0300997
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0486655
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-12345
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt019199
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0126118
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0323115
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0142345
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0218771
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0811349
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt02889
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0331
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0705
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0834
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt04759
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0306700
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.70390
IRS990ScheduleA/PublicSupportTotal170Amt0574471
IRS990ScheduleA/SubstantialContributorsTotAmt0236878
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0126118
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0323115
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0142345
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0218771
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0811349
IRS990ScheduleA/TotalSupportAmt0816108
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0160551
IRS990ScheduleD/NetUnrealizedGainsInvstAmt011115
IRS990ScheduleD/RevenueNotReportedAmt011115
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0148206
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FUNDRAISING EXPENSES
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FUNDRAISING EXPENSES
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0160551
IRS990ScheduleD/TotalRevenuePerForm990Amt0148206
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0159321
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0160551
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd11
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd10
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0TO FINANCE OPERATIONS
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt1TO FINANCE OPERATIONS
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd1X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt030000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt130000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0ROSE-MARIE KLIPSTEIN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1SUZANNE GOUVERNET
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0PRESIDENT OF THE BOARD OF DIRECTORS
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt1VICE PRESIDENT OF THE BOARD OF DIRECTORS
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd10
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BARBARA AND JAMES WALKER ARE MARRIED AND ARE BOTH BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A DRAFT COPY OF FORM 990 IS PROVIDED ELECTRONICALLY TO THE BOARD OF DIRECTORS FOR REVIEW AND COMMENT PRIOR TO FILING THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION REQUIRES BOARD MEMBERS AND OFFICERS TO DISCLOSE CONFLICTS OF INTEREST ON AN ANNUAL BASIS. ANY CONFLICTS OF INTEREST THAT ARE IDENTIFIED ARE EVALUATED BY THE BOARD OF DIRECTORS AND EVALUATED FOR APPROPRIATENESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S EXECUTIVE AND ARTISTIC DIRECTORS WERE INDEPENDENT CONTRACTORS IN 2019. MIDWAY THROUGH 2020 THE EXECUTIVE AND ARTISTIC DIRECTORS WERE HIRED AS W-2 EMPLOYEES. THE BOARD EVALUATED AND APPROVED THE EXECUTIVE AND ARTISTIC DIRECTORS' COMPENSATION AS W-2 EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 6,405. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,405. CONTRACTED EMPLOYEES: PROGRAM SERVICE EXPENSES 40,449. MANAGEMENT AND GENERAL EXPENSES 16,667. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 57,116.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6NO CHANGES FROM PRIOR YEAR
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990 PART XII LINE 1
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0242694
IRS990/TotalAssetsEOYAmt0181464
IRS990/TotalAssetsGrp/BOYAmt0242694
IRS990/TotalAssetsGrp/EOYAmt0181464
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0126118
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt03587
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt054315
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0102649
IRS990/TotalFunctionalExpensesGrp/TotalAmt0160551
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt060000
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt060000
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0182694
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0181464
IRS990/TotalOtherCompensationAmt01397
IRS990/TotalProgramServiceExpensesAmt0102649
IRS990/TotalProgramServiceRevenueAmt016336

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