Florentine Opera Company Inc

Nonprofit profile at a glance

EIN
391098132
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Milwaukee, WI, USA
Phone
4142915700
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities

Reported finances

Revenue
$4,190,595
Expenses
$3,546,942
Assets
$8,026,236
Liabilities
$442,358

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

19 people listed

Executive titles in this filing

  • DR DAVID PARIS (PRESIDENT)
  • CATHERINE COSTANTINI (PAST PRESIDENT)
  • ADAM ARNDT (PRESIDENT ELECT)
  • MAGGEY OPLINGER (GENERAL DIRECTOR & CEO)

Highest reported compensation

  • MAGGEY OPLINGER (GENERAL DIRECTOR & CEO): $158,659 total reported compensation
  • CAMILLE YIP (FINANCE & HR MANAGER): $83,946 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The florentine opera company is driven to produce the full range of operatic works reflecting the highest musical and theatrical standards, and to support community and education programs that foster the current and next generation of opera audiences and practitioners.

What it reported doing in 2024

Mainstage opera achievements: artistic excellence: the florentine opera presents high-quality productions, often featuring renowned artists and innovative staging, which elevates the cultural landscape of the community. Diverse repertoire: the program includes a mix of classic and contemporary operas, appealing to a wide audience and promoting the art form. Community engagement: through outreach initiatives, the mainstage productions engage diverse community groups, fostering a love for opera among new audiences. The organization allocates a significant portion of its budget to mainstage productions, receiving grants from local arts councils and private foundations. No foreign grants are included in this program.artistic development achievements: emerging artist programs: the florentine opera supports emerging artists through the baumgartner studio artist program and summer studio ensemble, providing them with essential performance experience and professional training.this program receives funding through grants specifically aimed at artist development and training initiatives. No foreign grants are included in this category.each of these programs plays a vital role in fulfilling the florentine opera's mission, contributing to the arts community, and promoting the growth of opera. The organization reports relevant financial information as required by IRS regulations, ensuring transparency in its operations.

Operating model

Revenue model
Donor-supported. 75% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 74
  • Accountability: 95
  • Sustainability: 66
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 83.6%; rating input score 84
  • Fundraising efficiency: $12.96 raised per $1 spent on fundraising; rating input score 46; 46th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 15.4%; rating input score 71; 71st percentile among comparable filings
  • Total-asset coverage ratio: 2.26; rating input score 66; 66th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 6.8%; rating input score 42; 42nd percentile among comparable filings

Growth

  • Program expense growth: 0.9% per year; rating input score 100; 17th percentile among comparable filings
  • Revenue growth: 2.5% per year; rating input score 100; 23rd percentile among comparable filings
  • Asset growth: 7.1% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 83.6% of spending went to programs
  • Governance: 17 of 17 board members independent · 8 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $3M in reported program spending
  • Leadership: top reported pay $159K · 19 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $180K reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 46/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 42/100.