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Nonprofiteer
← THE DALLAS OPERA FOUNDATION

Form 990 for tax year 2023

Filed by THE DALLAS OPERA FOUNDATION.

Totals

Total revenue
$1,606,186
Total expenses
$1,554,294
Contributions and grants received
$114,952
Grants paid
$1,522,768
Program service revenue
$0
Investment income
$1,491,234
Other revenue
$0
Total assets, end of year
$30,225,345
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$30,225,345
Program services expenses (Part IX)
$1,522,768
Management and general expenses
$31,526
Fundraising expenses
$0
Program service expenses (Part III)
$1,522,768

Program services were 98.0% 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.

  • 1d · Related organizations

    $114,952

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $1,491,234 · excluded $1,491,234

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,522,768 · program services $1,522,768

  • 11c · Fees: accounting

    total $13,030 · management and general $13,030

  • 11f · Fees: investment management

    total $18,496 · management and general $18,496

  • 11g · Fees: other

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

  • 24e · All other expenses

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

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,591,516 · end of year $1,546,337

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $3,232,275 · end of year $2,232,275

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $25,256,064 · end of year $26,418,991

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $28,575 · end of year $27,742

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $1,000,000 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $2,356,293 · end of year $2,458,213

  • 28 · Net assets with donor restrictions

    beginning of year $26,752,137 · end of year $27,767,132

Mission and programs · 2023

Mission

PROVIDE FINANCIAL SUPPORT TO THE DALLAS OPERA.

Activities or mission (Part I)

TO FINANCIALLY SUPPORT THE DALLAS OPERA AS ENDOWMENT.

  • PROVIDE FINANCIAL SUPPORT TO THE DALLAS OPERA.

    Expenses $1,522,768 · Grants $1,522,768

As filed on the 2023 return.

Listed in Part VII

  • Greg Swalwell

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Leonor Marquez

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Paula Lambert

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Peter Flynn

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Steve Penrose

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Ian L Derrer

    GENERAL DIRECTOR & CEO

    Total calculated
    $327,098
    From this org
    $0
    From related orgs
    $311,725
    Other
    $15,373
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $311,725 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $9,665 related
    Nontaxable benefits
    $0 + $5,708 related
    Filer's total
    $0 + $327,098 related

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

None.

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

The filer's explanations (Part III)

Schedule J, Part I, Line 3 CEO COMEPENSATION
THE CEO IS COMPENSATED BY ITS RELATED ORGANIZATION, THE DALLAS OPERA. THE COMPENSATION IS ESTABLISHED USING THE FOLLOWING METHODS: -COMPENSATION COMMITTEE -WRITTEN EMPLOYMENT CONTRACT -FORM 990 OF OTHER ORGANIZATIONS -APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
11 February 2025
IRS schema version
2023v6.0
Source object
202510429349301641

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