Omaha Performing Arts

Legal name: Opas Foundation

Nonprofit profile at a glance

EIN
203523938
IRS 990 coverage
2009–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Omaha, NE, USA
Phone
4023450202
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$18,638,327
Expenses
$11,774,017
Assets
$332,064,388
Liabilities
$4,400,295

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

Leadership & pay

10 people listed

Executive titles in this filing

  • JOAN H SQUIRES (PRESIDENT)

Highest reported compensation

  • JOAN H SQUIRES (PRESIDENT): $673,607 total reported compensation
  • ARNOLD REEVES (SENIOR VP AND COO, TREASURER): $259,268 total reported compensation
  • SABRINA WEISS (SENIOR VP OF DEVELOPMENT): $210,121 total reported compensation

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

Overview

Mission

Our mission is to enrich the community through: the presentation of the highest quality arts and entertainment experiences education and community engagement programs.

What it reported doing in 2024

OPAS Foundation owns the Holland Performing Arts Center and Steelhouse Omaha and leases these buildings to Omaha Performing Arts Society to further the mission of that organization.

Operating model

Revenue model
Donor-supported. 62% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 45% for direct work, and 55% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 68
  • Accountability: 95
  • Sustainability: 93
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.6%; rating input score 92
  • Program expense ratio: 97.4%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 8th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th 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: 36.8%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 28.2; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 0.6%; rating input score 89; 89th percentile among comparable filings

Growth

  • Program expense growth: 10% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: 16.5% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 12.2% per year; rating input score 100; 73rd percentile among comparable filings

Details

  • What they do: 1 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 91.6% of revenue deployed · 97.4% of spending went to programs
  • Governance: 7 of 7 board members independent · 8 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $11.5M in reported program spending
  • Leadership: top reported pay $674K · 10 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $50.2M reported
  • Consistency: 42 of 43 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.