Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $506,338

• 1e · Government grants (contributions)

  $123,555

• 1f · All other contributions, gifts and grants

  $21,843,967

• 1g · Noncash contributions included above

  $455,293

• 2a · Program service revenue: PERFORMANCE ADMISSIONS

  total $9,763,136 · related or exempt $9,763,136

• 2b · Program service revenue: AUXILIARY OPERATIONS

  total $1,507,996 · related or exempt $1,392,201 · unrelated business $115,795

• 3 · Investment income

  total $4,965,802 · excluded $4,965,802

• 6a · Gross rents

  real property $522,180 · personal property $27,972

• 6b · Less rental expenses

  real property $561,929 · personal property $618

• 6c · Rental income or loss

  real property -$39,749 · personal property $27,354

• 6d · Net rental income or loss

  total -$12,395 · excluded -$12,395

• 7a · Gross sales of assets other than inventory

  securities $7,482,469 · other assets $44,086

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

  securities $5,032,110 · other assets $1,071

• 7c · Gain or loss

  securities $2,450,359 · other assets $43,015

• 7d · Net gain or loss

  total $2,493,374 · excluded $2,493,374

• 8a · Fundraising events: gross income

  $187,431

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

  $506,338

• 8b · Fundraising events: direct expenses

  $190,344

• 8c · Net income from fundraising events

  total -$2,913 · excluded -$2,913

• 10a · Gross sales of inventory

  $441,438

• 10b · Cost of goods sold

  $351,506

• 10c · Net income from sales of inventory

  total $89,932 · related or exempt $75,835 · unrelated business $14,097

• 11a · Other revenue: ADVERTISING REVENUE

  total $356,012 · unrelated business $250,033 · excluded $105,979

• 11b · Other revenue: COPRODUCTION

  total $244,247 · related or exempt $244,247

• 11c · Other revenue: SPONSORSHIP REVENUE

  total $74,500 · unrelated business $74,500

• 11d · All other revenue

  total $137,026 · excluded $137,026

• 11e · Other revenue, total

  $811,785

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $1,134,047 · program services $388,531 · management and general $459,112 · fundraising $286,404

• 7 · Other salaries and wages

  total $11,790,427 · program services $9,651,359 · management and general $1,511,672 · fundraising $627,396

• 8 · Pension plan contributions

  total $261,636 · program services $102,614 · management and general $151,178 · fundraising $7,844

• 9 · Other employee benefits

  total $1,241,707 · program services $940,138 · management and general $222,783 · fundraising $78,786

• 10 · Payroll taxes

  total $918,820 · program services $732,530 · management and general $122,155 · fundraising $64,135

• 11b · Fees: legal

  total $136,378 · management and general $136,378

• 11c · Fees: accounting

  total $119,734 · management and general $119,734

• 11d · Fees: lobbying

  total $31,215 · management and general $31,215

• 11f · Fees: investment management

  total $468,286 · management and general $468,286

• 11g · Fees: other

  total $3,877,338 · program services $3,318,636 · management and general $333,915 · fundraising $224,787

• 12 · Advertising and promotion

  total $831,343 · program services $829,865 · management and general $1,406 · fundraising $72

• 13 · Office expenses

  total $773,434 · program services $462,602 · management and general $175,466 · fundraising $135,366

• 14 · Information technology

  total $453,048 · program services $213,121 · management and general $161,821 · fundraising $78,106

• 15 · Royalties

  total $103,337 · program services $103,337

• 16 · Occupancy

  total $1,337,907 · program services $1,302,123 · management and general $35,784

• 17 · Travel

  total $2,731,535 · program services $2,652,075 · management and general $44,049 · fundraising $35,411

• 19 · Conferences, conventions and meetings

  total $40,824 · program services $10,212 · management and general $30,577 · fundraising $35

• 22 · Depreciation, depletion and amortization

  total $2,377,890 · program services $1,562,051 · management and general $802,858 · fundraising $12,981

• 23 · Insurance

  total $956,559 · program services $533,566 · management and general $422,993

• 24a · Other expenses: PRODUCTION CREATION/MAT

  total $1,267,180 · program services $1,267,180

• 24b · Other expenses: ENTERTAINMENT/CULTIVATI

  total $1,213,966 · program services $730,546 · management and general $118,102 · fundraising $365,318

• 24e · All other expenses

  total $353,538 · program services $328,390 · management and general $25,109 · fundraising $39

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,937,115 · end of year $1,615,131

• 2 · Savings and temporary cash investments

  beginning of year $1,642,948 · end of year $4,493,971

• 3 · Pledges and grants receivable

  beginning of year $7,468,202 · end of year $3,549,857

• 4 · Accounts receivable

  beginning of year $235,735 · end of year $578,984

• 8 · Inventories for sale or use

  beginning of year $115,534 · end of year $113,825

• 9 · Prepaid expenses and deferred charges

  beginning of year $593,881 · end of year $756,547

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

  $85,128,565

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

  $46,223,244

• 10c · Land, buildings and equipment, net

  beginning of year $40,870,500 · end of year $38,905,321

• 11 · Investments: publicly traded securities

  beginning of year $113,625,106 · end of year $136,929,808

• 12 · Investments: other securities

  beginning of year $21,327,230 · end of year $26,676,993

• 14 · Intangible assets

  beginning of year $83,897 · end of year $83,896

• 15 · Other assets

  beginning of year $329,503 · end of year $329,503

• 17 · Accounts payable and accrued expenses

  beginning of year $1,732,846 · end of year $2,006,741

• 19 · Deferred revenue

  beginning of year $1,009,359 · end of year $1,322,495

• 25 · Other liabilities

  beginning of year $79,033 · end of year $75,349

• 27 · Net assets without donor restrictions

  beginning of year $59,206,305 · end of year $67,476,534

• 28 · Net assets with donor restrictions

  beginning of year $129,202,108 · end of year $143,152,717

The filer's explanations (Part III)

PART I, LINE 1A

THE SANTA FE OPERA OWNS A RESIDENCE IMMEDIATELY ADJACENT TO THE OPERA'S FACILITIES. THE CLOSE PROXIMITY OF THE RESIDENCE AND THE GENERAL DIRECTOR LIVING THEREIN HAVE IMPORTANT BENEFITS FOR THE OPERA. THE GENERAL DIRECTOR IS THEREBY AVAILABLE ON SHORT NOTICE FOR IMPORTANT BUSINESS ON THE OPERA GROUNDS AS WELL AS IS ABLE TO ENTERTAIN AND MEET WITH THE OPERA'S GUESTS, ARTISTIC PARTNERS AND STAFF. THE GENERAL DIRECTOR, AS A CONDITION OF EMPLOYMENT, IS REQUIRED BY THE OPERA TO RESIDE IN THE GENERAL DIRECTOR'S RESIDENCE. THE SANTA FE OPERA REPORTS TO THE INTERNAL REVENUE SERVICE AS COMPENSATION TO THE GENERAL DIRECTOR ADDITIONAL TAXABLE INCOME FOR THE FAIR MARKET RENTAL VALUE AND UTILITY COSTS OF THE PREMISES. THE OPERA HAS AGREED TO REIMBURSE THE GENERAL DIRECTOR FOR ANY OUT-OF-POCKET COSTS INCURRED DURING THE USE OF THE GENERAL DIRECTOR'S RESIDENCE FOR OPERA BUSINESS. DETAILED RECORDS ARE REQUIRED TO BE MAINTAINED OF THE OPERA'S OFFICIAL USE OF THE RESIDENCE AND SUBMITTED TO THE PRESIDENT AND THE CHIEF FINANCIAL OFFICER. THE TAX INDEMNIFICATION AND GROSS UP PAYMENTS REPRESENT THE TAX PAID BY THE OPERA, AND INCLUDED IN ROBERT MEYA'S W-2, TO COVER THE TAX ON THE HOUSING ALLOWANCE. THE HOUSING IS VALUED AT $84,000, AND THE GROSS-UP IS VALUED AT $56,702.

PART I, LINES 4A-B

MICHAEL VANAARTSEN RECEIVED A SEVERANCE PAYMENT OF $54,000. STARTING IN 2024, ROBERT MEYA PARTICIPATED IN A 457(F) PLAN.

PART I, LINE 7

BONUSES WERE AWARDED IN 2024. THE COMPENSATION COMMITTEE MET TO DETERMINE THE GENERAL DIRECTOR'S BONUS. THE GENERAL DIRECTOR DETERMINES BONUSES FOR THE REST OF THE STAFF.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• SIMULTEXT SYSTEMS LLC

  LICENSING OF IP · NM · income -$53,572 · assets $0

  Directly controlled by THE SANTA FE OPERA

• OPERA ASSOCIATION OF NEW MEXICO LLC

  TO SECURE THE OPERA'S ORIGINAL NAME · NM · income $0 · assets $0

  Directly controlled by THE SANTA FE OPERA