Opera on Tap

Nonprofit profile at a glance

EIN
204554125
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-EZ 2017, Form 990-N 2009
Location
Brooklyn, NY, USA
Phone
9175387413
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities

Reported finances

Revenue
$443,565
Expenses
$463,083
Assets
$90,716
Liabilities
$621,707

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

Leadership & pay

12 people listed

Executive titles in this filing

  • Anne Hiatt (President, Executive & Artistic Director)

Highest reported compensation

  • Anne Hiatt (President, Executive & Artistic Director): $112,546 total reported compensation

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

Overview

Mission

To bring traditional opera and newly commissioned opera to new audiences in non-traditional venues and to give opera performance singing opportunities. To teach the beauty of opera to elementary school children

What it reported doing in 2024

See schedule o

Operating model

Revenue model
Donor-supported. 64% 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.

The verdict

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

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 92
  • Accountability: 80
  • Sustainability: 19
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.5%; rating input score 69
  • Program expense ratio: 66.5%; rating input score 67
  • Fundraising efficiency: $4.67 raised per $1 spent on fundraising; rating input score 21; 21st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 91.7%; rating input score 92; 25th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -4.4%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 0.2; rating input score 11; 11th percentile among comparable filings
  • Liabilities to assets ratio: 6.85; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 24.3%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: 17.6% per year; rating input score 100; 82nd percentile among comparable filings
  • Revenue growth: 16.3% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 25.9% per year; rating input score 100; 89th percentile among comparable filings

Details

  • Where the money goes: 69.5% of revenue deployed · 66.5% of spending went to programs
  • Governance: 11 of 12 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $308K in reported program spending
  • Leadership: top reported pay $113K · 12 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 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.

  • High — Financial Efficiency: Fundraising efficiency scored 21/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 30/100.
  • High — Sustainability: Total-asset coverage ratio scored 11/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.