Civic Intelligence

Portland Opera Association Inc.

990 • Fiscal year 2017 • EIN 93-6034321

Oct 01, 2016 to Sep 30, 2017 • Filed on Feb 06, 2018

211 SE CaruthersPortland, OR 97214

(503) 241-1407

Siviq Scores

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

Liabilities / Assets

40th percentile

0.17x

Higher debt load relative to assets than 40% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Liabilities / Revenue

70th percentile

0.71x

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

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Net Margin

31st percentile

-0.6%

Higher net margin than 31% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Top Officer Pay

61st percentile

$289,380

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 4.1% of source-year revenue.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Asset Growth

59th percentile

7.3%

Faster asset growth than 59% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Revenue Growth

74th percentile

17%

Faster revenue growth than 74% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Assets

Up

$30,037,260

Up $2,049,460 (+7.3%) from 2016

Net Assets

Up

$24,984,648

Up $12,875,317 (+106%) from 2016

Liabilities

Down

$5,052,612

Down $10,825,857 (-68%) from 2016

Revenue

Up

$7,069,826

Up $1,039,381 (+17%) from 2016

Expenses

Up

$7,109,987

Up $65,237 (+0.9%) from 2016

Net Income

Up

-$40,161

Up $974,144 (+96%) from 2016

Historical Trend

Balance Sheet Trend

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

$40M$30M$20M$10M$0Assets 2010: $24,305,088Liabilities 2010: $10,575,943Net Assets 2010: $13,729,1452010Assets 2011: $24,791,952Liabilities 2011: $11,032,978Net Assets 2011: $13,758,9742011Assets 2012: $23,947,008Liabilities 2012: $11,272,413Net Assets 2012: $12,674,5952012Assets 2013: $25,039,416Liabilities 2013: $12,062,021Net Assets 2013: $12,977,3952013Assets 2014: $27,105,413Liabilities 2014: $13,562,713Net Assets 2014: $13,542,7002014Assets 2015: $27,201,043Liabilities 2015: $13,873,797Net Assets 2015: $13,327,2462015Assets 2016: $27,987,800Liabilities 2016: $15,878,469Net Assets 2016: $12,109,3312016Assets 2017: $30,037,260Liabilities 2017: $5,052,612Net Assets 2017: $24,984,6482017Assets 2018: $30,960,833Liabilities 2018: $5,635,298Net Assets 2018: $25,325,5352018Assets 2019: $29,989,646Liabilities 2019: $7,240,432Net Assets 2019: $22,749,2142019Assets 2020: $29,168,847Liabilities 2020: $6,778,780Net Assets 2020: $22,390,0672020Assets 2021: $29,661,046Liabilities 2021: $6,018,089Net Assets 2021: $23,642,9572021Assets 2022: $27,962,888Liabilities 2022: $6,422,059Net Assets 2022: $21,540,8292022Assets 2023: $20,771,910Liabilities 2023: $8,007,980Net Assets 2023: $12,763,9302023Assets 2024: $17,226,720Liabilities 2024: $7,320,515Net Assets 2024: $9,906,2052024

Highlighted filing

2017

Assets$30,037,260
Liabilities$5,052,612
Net Assets$24,984,648

Operations Trend

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

$10M$5.0M$0-$5.0MExpenses 2010: $7,264,9862010Expenses 2011: $7,070,5892011Expenses 2012: $6,710,9152012Expenses 2013: $6,962,9722013Revenue 2014: $6,863,757Expenses 2014: $7,206,293Net Income 2014: -$342,5362014Revenue 2015: $7,988,447Expenses 2015: $8,031,274Net Income 2015: -$42,8272015Revenue 2016: $6,030,445Expenses 2016: $7,044,750Net Income 2016: -$1,014,3052016Revenue 2017: $7,069,826Expenses 2017: $7,109,987Net Income 2017: -$40,1612017Revenue 2018: $6,623,014Expenses 2018: $7,804,689Net Income 2018: -$1,181,6752018Revenue 2019: $5,351,974Expenses 2019: $7,575,925Net Income 2019: -$2,223,9512019Revenue 2020: $5,323,206Expenses 2020: $5,495,480Net Income 2020: -$172,2742020Revenue 2021: $4,509,949Expenses 2021: $3,475,331Net Income 2021: $1,034,6182021Revenue 2022: $6,427,298Expenses 2022: $7,098,809Net Income 2022: -$671,5112022Revenue 2023: $6,330,002Expenses 2023: $8,725,554Net Income 2023: -$2,395,5522023Revenue 2024: $5,434,546Expenses 2024: $7,333,523Net Income 2024: -$1,898,9772024

Highlighted filing

2017

Revenue$7,069,826
Expenses$7,109,987
Net Income-$40,161
Jump To
Filing Snapshot
Filing Period
Oct 1, 2016 to Sep 30, 2017
Signed
Feb 6, 2018
Return Version
2016v3.0
Gross Receipts
$7,393,798
Mission and Program Overview

Mission

To provide the highest quality professional opera & music theater; develop community support; and help develop local artistic talent.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$1,405,111$930,624▼ $474,487
Prepaid Expenses and Deferred Charges$755,898$547,011▼ $208,887
Land, Buildings, and Equipment, Net$4,854,248$263,419▼ $4,590,829
Cash and Non-Interest-Bearing Accounts$40,689$219,317▲ $178,628
Intangible Assets$172,225$172,225→ $0
Accounts Receivable$119,554$0▼ $119,554
Savings and Temporary Cash Investments$89,938$89,938→ $0
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Inventories for Sale or Use-$0-
Total Assets$26,437,693$30,037,260▲ $3,599,567
Other Assets Total$19,000,030$27,814,726▲ $8,814,696
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,270,000$2,382,047▲ $1,112,047
Other Liabilities$11,768,866$1,129,366▼ $10,639,500
Deferred Revenue$1,483,803$885,610▼ $598,193
Accounts Payable and Accrued Expenses$429,769$642,078▲ $212,309
Unsecured Notes Loans Payable$21,690$13,511▼ $8,179
Total Liabilities$14,974,128$5,052,612▼ $9,921,516
Net Assets / Fund Balance
Unrestricted Net Assets$2,434,507$17,791,896▲ $15,357,389
Permanently Rstr Net Assets$6,012,747$7,192,752▲ $1,180,005
Temporarily Rstr Net Assets$3,016,311--
Total Net Assets Fund Balance$11,463,565$24,984,648▲ $13,521,083
Total Liabilities and Net Assets / Fund Balance$26,437,693$30,037,260▲ $3,599,567

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$230,719$2,017,258$2,247,977
Other Land Buildings$32,700-$32,700
Other Assets Org$2,122,288--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$7,984,925$580,663▲ $886,536$510,419$8,941,705
2015$8,144,917$6,038▲ $296,970$463,000$7,984,925
2014$8,501,508$555,962▲ $64,538$1,265,287$8,144,917
2013$9,187,452$47,947▼ $5,259$728,632$8,501,508
2012$8,416,593$55,534▲ $1,379,375$664,050$9,187,452
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Christopher MattalianoGenrl DirectorFT$252,424$36,956$289,380
Valeria RamirezCOOFT$107,244$9,223$116,467
Susan DixonDirector Ext AffairsFT$99,634$8,860$108,494

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$4,555,315
Program Service Revenue
$1,756,685
Investment Income
$199,694
Other Revenue
$558,132
All Other Contributions
$3,451,432
Change in Net Assets
$-40,161

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 AmountValuation Method
Other Non Cash Contri Table14$53,547Fair Market Value (FMV)
Total Noncash Contributions14$53,547-

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,046,545
Revenue Not Reported on Financial Statements
$23,281
Revenue Not Reported on Form 990
$1,435,079
Total Revenue per Audited Statements
$8,481,624
Total Revenue per Form 990
$7,069,826
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,017,745
Salaries, Compensation, and Employee Benefits$2,092,242
Total Fundraising Expense$576,263
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$534,767$250,354$227,217$1,012,338
Advertising$479,153-$63,165$542,318
Current Officers, Directors, Trustees, and Key Employees-$367,251$109,102$476,353
Other Employee Benefits$184,002$86,029$48,975$319,006
Payroll Taxes$196,222$60,881$27,442$284,545
Occupancy$135,620$86,540-$222,160
Office Expenses$38,981$160,752$10,126$209,859
Fees for Services Other$61,860$35,054-$96,914
Insurance$21,684$30,220-$51,904
Interest-$51,705-$51,705
Travel$43,797$2,026$4,961$50,784
Other Expenses$38,184$74,364$79,205$38,184
Depreciation Depletion-$29,490-$29,490
Information Technology$3,452$9,266$4,003$16,721
Conferences and Meetings$1,153$10,020$2,067$13,240
Total Functional Expenses$5,279,772$1,253,952$576,263$7,109,987

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$7,133,875
Expenses per Audited Statements$7,109,987
Total Expenses per Form 990$7,109,987
Expenses Not Reported on Form 990$23,888
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$322,710
Fundraising Gross Income$81,750
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$893,554$81,750$276,195$-194,445
Total Events$893,554$81,750$322,710$-240,960
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
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Theater Subsidiary$1,101,625
Deposit$27,741
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
No
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, Line 11B: Form 990 Review Process

The Organization's finance and management team meet with the CPA firm and the Finance Committee to review the 990. The Board Finance Committee presents the 990 to the Board Executive Committee for approval. Once approved, the entire Board of Directors receive a copy of the 990 prior to the return being filed with the IRS.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Each director, officer and member of a committee with board delegated powers shall annually sign a statement which affirms that such person:1) Has received a copy of the conflict of interest policy2) Has read and understands the conflict of interest policy3) Has agreed to comply with the policy; and 4) Understands that the organization is charitable, and that in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The General Director is hired by the Board of Directors. The General Director hires all other employees.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Governing documents and financial information are available on our website and upon request

Filing and Contact Details

Filer

Filer Name
Portland Opera Association Inc
EIN
93-6034321
Phone
5032411407
Address
211 SE Caruthers, Portland, OR 97214

Signing Officer

Name
Christopher Mattaliano
Title
Genrl Director
Signed
2018-02-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kay Abramowitz
Formed
1965
Legal Domicile
Or
Voting Board Members
28
Independent Board Members
28
Employees
366
Volunteers
150

Preparer

Firm
Richard Winkel CPA INC
Address
PO Box 91637, Portland, OR 97291
Preparer
Richard Winkel
Phone
5033326750
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IRS990/Desc0Portland Opera exists to inspire, challenge and uplift our audiences by creating productions of high artistic quality that celebrate the beauty and breadth of opera. On and beyond the stage, we share opera with more than 400,000 people annually through free concerts, previews, lectures, broadcasts and other community programs, including education efforts that reach more than 25,000 young people. The Company is also a leader in the development of new opera talent, with Portland Opera Studio Artist program, considered one of the finest professional residencies for early-career opera singers in the nation. The Company works closely with schools to provide educational and outreach opportunities for certain shows, including backstage tours, "chat backs" with cast members, master classes, and related activities in addition to student group and rush ticket discounts. Our group sales department works closely with a number of not-for-profit organizations on gala and benefit events. Operas during this year included Songs of Love and War, Big Night, La Boheme, Man of La Mancha, Cosi fan Tutte, Difficulty Crossing the Field and The Little Match Girl Passion.
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IRS990/Form990PartVIISectionAGrp/PersonNm0Kay Abramowitz
IRS990/Form990PartVIISectionAGrp/PersonNm1David O'Brien
IRS990/Form990PartVIISectionAGrp/PersonNm2Dr Curtis Thompson
IRS990/Form990PartVIISectionAGrp/PersonNm3Shawn DuBurg
IRS990/Form990PartVIISectionAGrp/PersonNm4Connie Gougler
IRS990/Form990PartVIISectionAGrp/PersonNm5Kregg Arnston
IRS990/Form990PartVIISectionAGrp/PersonNm6Nelson Atkin II
IRS990/Form990PartVIISectionAGrp/PersonNm7Matt Baines
IRS990/Form990PartVIISectionAGrp/PersonNm8Brent Barton
IRS990/Form990PartVIISectionAGrp/PersonNm9George Carter
IRS990/Form990PartVIISectionAGrp/PersonNm10Marilyn Crilley
IRS990/Form990PartVIISectionAGrp/PersonNm11Pam DeBoni
IRS990/Form990PartVIISectionAGrp/PersonNm12Robert K Haley
IRS990/Form990PartVIISectionAGrp/PersonNm13Matthew Haller
IRS990/Form990PartVIISectionAGrp/PersonNm14Jamey Hampton
IRS990/Form990PartVIISectionAGrp/PersonNm15Greg Hinckley
IRS990/Form990PartVIISectionAGrp/PersonNm16Robert E Kerr
IRS990/Form990PartVIISectionAGrp/PersonNm17Dr Dolores Leon MD
IRS990/Form990PartVIISectionAGrp/PersonNm18Dr Louis McCraw MD
IRS990/Form990PartVIISectionAGrp/PersonNm19Carol Mangan
IRS990/Form990PartVIISectionAGrp/PersonNm20Callie Pappas
IRS990/Form990PartVIISectionAGrp/PersonNm21Ruth Poindexter
IRS990/Form990PartVIISectionAGrp/PersonNm22Bruce Ramseyer
IRS990/Form990PartVIISectionAGrp/PersonNm23Karen Schneider
IRS990/Form990PartVIISectionAGrp/PersonNm24Diana Harris
IRS990/Form990PartVIISectionAGrp/PersonNm25Bill Sweat
IRS990/Form990PartVIISectionAGrp/PersonNm26William Lockwood
IRS990/Form990PartVIISectionAGrp/PersonNm27Chris Hermann
IRS990/Form990PartVIISectionAGrp/PersonNm28Christopher Mattaliano
IRS990/Form990PartVIISectionAGrp/PersonNm29Valeria Ramirez
IRS990/Form990PartVIISectionAGrp/PersonNm30Susan Dixon
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IRS990/Form990PartVIISectionAGrp/TitleTxt0President
IRS990/Form990PartVIISectionAGrp/TitleTxt1Past President
IRS990/Form990PartVIISectionAGrp/TitleTxt2Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt3Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt4Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
IRS990/Form990PartVIISectionAGrp/TitleTxt16Director
IRS990/Form990PartVIISectionAGrp/TitleTxt17Director
IRS990/Form990PartVIISectionAGrp/TitleTxt18Director
IRS990/Form990PartVIISectionAGrp/TitleTxt19Director
IRS990/Form990PartVIISectionAGrp/TitleTxt20Director
IRS990/Form990PartVIISectionAGrp/TitleTxt21Director
IRS990/Form990PartVIISectionAGrp/TitleTxt22Director
IRS990/Form990PartVIISectionAGrp/TitleTxt23Director
IRS990/Form990PartVIISectionAGrp/TitleTxt24Director
IRS990/Form990PartVIISectionAGrp/TitleTxt25Director
IRS990/Form990PartVIISectionAGrp/TitleTxt26Director
IRS990/Form990PartVIISectionAGrp/TitleTxt27Director
IRS990/Form990PartVIISectionAGrp/TitleTxt28Genrl Director
IRS990/Form990PartVIISectionAGrp/TitleTxt29COO
IRS990/Form990PartVIISectionAGrp/TitleTxt30Dir Ext Affairs
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$17.2$7.32$9.91$5.43$7.33$1.90
2023Detailed filing. Detailed filing data is available for this year.$20.8$8.01$12.8$6.33$8.73$2.40
2022Detailed filing. Detailed filing data is available for this year.$28.0$6.42$21.5$6.43$7.10$0.67
2021Detailed filing. Detailed filing data is available for this year.$29.7$6.02$23.6$4.51$3.48$1.03
2020Detailed filing. Detailed filing data is available for this year.$29.2$6.78$22.4$5.32$5.50$0.17
2019Detailed filing. Detailed filing data is available for this year.$30.0$7.24$22.7$5.35$7.58$2.22
2018Detailed filing. Detailed filing data is available for this year.$31.0$5.64$25.3$6.62$7.80$1.18
2017Detailed filing. Detailed filing data is available for this year.$30.0$5.05$25.0$7.07$7.11$0.04
2016Detailed filing. Detailed filing data is available for this year.$28.0$15.9$12.1$6.03$7.04$1.01
2015Detailed filing. Detailed filing data is available for this year.$27.2$13.9$13.3$7.99$8.03$0.04
2014Detailed filing. Detailed filing data is available for this year.$27.1$13.6$13.5$6.86$7.21$0.34
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.0$12.1$13.0$6.96
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.9$11.3$12.7$6.71
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.8$11.0$13.8$7.07
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.3$10.6$13.7$7.26