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Nonprofiteer
← SARASOTA OPERA ASSOCIATION INC

Form 990 for tax year 2024

Filed by SARASOTA OPERA ASSOCIATION INC.

Totals

Total revenue
$16,304,896
Total expenses
$10,554,868
Contributions and grants received
$11,640,944
Grants paid
$15,000
Program service revenue
$3,617,865
Investment income
$703,610
Other revenue
$342,477
Total assets, end of year
$36,969,853
Total liabilities, end of year
$8,069,205
Net assets or fund balances, end of year
$28,900,648
Program services expenses (Part IX)
$7,830,337
Management and general expenses
$1,964,432
Fundraising expenses
$760,099
Program service expenses (Part III)
$7,830,337

Program services were 74.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $80,926

  • 1e · Government grants (contributions)

    $95,925

  • 1f · All other contributions, gifts and grants

    $11,464,093

  • 1g · Noncash contributions included above

    $878,770

  • 2a · Program service revenue: OPERA PRODUCTIONS

    total $2,578,817 · related or exempt $2,578,817

  • 2b · Program service revenue: RENTALS

    total $822,279 · related or exempt $822,279

  • 2c · Program service revenue: SARASOTA YOUTH OPERA

    total $216,769 · related or exempt $216,769

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $287,195 · excluded $287,195

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $15,027,186

  • 7b · Less cost or other basis and sales expenses

    securities $14,588,876 · other assets $21,895

  • 7c · Gain or loss

    securities $438,310 · other assets -$21,895

  • 7d · Net gain or loss

    total $416,415 · excluded $416,415

  • 8a · Fundraising events: gross income

    $472,610

  • 8a · Fundraising events: contributions included on line 1c

    $80,926

  • 8b · Fundraising events: direct expenses

    $429,922

  • 8c · Net income from fundraising events

    total $42,688 · excluded $42,688

  • 11a · Other revenue: OTHER INCOME

    total $299,789 · related or exempt $299,789

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $299,789

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $15,000 · program services $15,000

  • 5 · Compensation of officers, directors and key employees

    total $575,222 · program services $170,014 · management and general $371,205 · fundraising $34,003

  • 7 · Other salaries and wages

    total $4,681,784 · program services $3,499,218 · management and general $696,004 · fundraising $486,562

  • 9 · Other employee benefits

    total $398,547 · program services $278,826 · management and general $78,554 · fundraising $41,167

  • 10 · Payroll taxes

    total $191,073 · program services $107,986 · management and general $62,691 · fundraising $20,396

  • 11b · Fees: legal

    total $14,891 · management and general $14,891

  • 11c · Fees: accounting

    total $27,500 · management and general $27,500

  • 11f · Fees: investment management

    total $101,001 · management and general $101,001

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $400,844 · program services $400,844

  • 13 · Office expenses

    total $190,488 · program services $13,037 · management and general $159,079 · fundraising $18,372

  • 14 · Information technology

    total $149,312 · program services $7,430 · management and general $138,495 · fundraising $3,387

  • 16 · Occupancy

    total $1,192,975 · program services $1,118,624 · management and general $74,351

  • 17 · Travel

    total $663,843 · program services $659,792 · management and general $2,258 · fundraising $1,793

  • 19 · Conferences, conventions and meetings

    total $57,975 · program services $23,448 · management and general $30,350 · fundraising $4,177

  • 20 · Interest

    total $160,200 · program services $65,881 · management and general $88,807 · fundraising $5,512

  • 22 · Depreciation, depletion and amortization

    total $835,664 · program services $798,843 · management and general $36,821

  • 23 · Insurance

    total $193,594 · program services $188,131 · management and general $5,463

  • 24a · Other expenses: PRODUCTION MATERIALS

    total $461,402 · program services $461,402

  • 24b · Other expenses: GUILDS

    total $143,233 · fundraising $143,233

  • 24c · Other expenses: GENERAL & ADMINISTRATIVE

    total $59,142 · management and general $59,142

  • 24d · Other expenses: Other

    total $23,358 · program services $21,861 · fundraising $1,497

  • 24e · All other expenses

    total $17,820 · program services $0 · management and general $17,820 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $135,727 · end of year $257,136

  • 2 · Savings and temporary cash investments

    beginning of year $270,765 · end of year $66,992

  • 3 · Pledges and grants receivable

    beginning of year $288,915 · end of year $5,503,024

  • 4 · Accounts receivable

    beginning of year $20,000 · end of year $295,925

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $133,992 · end of year $251,294

  • 10a · Land, buildings and equipment: cost or other basis

    $29,844,620

  • 10b · Land, buildings and equipment: accumulated depreciation

    $14,946,882

  • 10c · Land, buildings and equipment, net

    beginning of year $15,005,652 · end of year $14,897,738

  • 11 · Investments: publicly traded securities

    beginning of year $11,764,300 · end of year $12,713,072

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $3,344,094 · end of year $2,984,672

  • 17 · Accounts payable and accrued expenses

    beginning of year $297,757 · end of year $467,576

  • 19 · Deferred revenue

    beginning of year $1,018,592 · end of year $1,120,171

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $3,582,928 · end of year $3,418,352

  • 25 · Other liabilities

    beginning of year $3,366,955 · end of year $3,063,106

  • 27 · Net assets without donor restrictions

    beginning of year $13,772,945 · end of year $20,036,600

  • 28 · Net assets with donor restrictions

    beginning of year $8,924,268 · end of year $8,864,048

Mission and programs · 2024

Mission

Sarasota Opera produces impassioned opera performances true to the vision of the composer, to entertain, enrich, educate, and inspire a life-long love of opera in our diverse and growing communities.

  • In the Fall of 2024, the Opera presented two performances of Giuseppe Verdi's music to nearly sold out houses, while our Youth Opera program, with it's growing participation, presented two performances of The Hobbit. The Winter Festival consisted of thirty-three performances, two more than the previous year. Four different operas were presented in front of over 28,000 patrons. In addition to these live main stage performances, the Opera continued its presentation of classic and classical HD movies. Community outreach events, in-school programs and teacher workshops continued to expand. The Opera's two guild organizations are growing and creating additional fundraising events and activities.

    Expenses $7,830,337 · Grants $15,000 · Revenue $3,917,654

As filed on the 2024 return.

Listed in Part VII

  • Arthur Siciliano

    CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Katherine Benoit

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Ron Archbold

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Steve Sabato

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Alastair Hunter-Henderson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Carol English

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • David Chaifetz

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • David L Bialosky

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Donald J Worthington

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • J Sumner Bagby

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Janet Stern Solomon

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Jeff Troiano

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • John F Suhre

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Joseph Mallof

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Mary J Mitchell

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Michal Wadsworth

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Patricia Dodge

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Paul Delauro

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Richard Degennaro

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Rosanne Martorella

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Sue Neumann

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Susan K Straus

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Syble Di Girolamo

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Tamara Jacobs

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Thomas Garden

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Toby Siegel

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Ulysses Brualdi

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • William D Tompkins

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Kenneth Tarasi

    DIRECTOR OF FINANCE

    Total calculated
    $127,413
    From this org
    $117,070
    From related orgs
    $0
    Other
    $10,343
    Hours/week
    50

  • Richard Russell

    GENERAL DIRECTOR

    Total calculated
    $335,807
    From this org
    $325,139
    From related orgs
    $0
    Other
    $10,668
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $325,139
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $10,668
    Filer's total
    $335,807

  • Victor Derenzi

    TRUSTEE

    Total calculated
    $0
    Hours/week
    35

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
23 December 2025
IRS schema version
2024v5.1
Source object
202513579349301011

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