Opus 40 INC FY2023 filing

Tax-deductible

Saugerties, NY501(c)(3)Since 1978EIN 13-2956748

To bring natural and creative resources to the public through a park, museum, performance space, and an educational facility.

501(c)(3) charity; gifts are tax-deductible.
83¢ of each $1 spent went to programs.
$51K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $210K a year · 24% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$51K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 3.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $16K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$583K
33% of total assets
Looks good: liabilities are 33% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 8 voting members
Looks good: 10 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.3M
+46% vs prior year
Spent
$1.1M
To programs
83%
Net assets
$1.2M
By yearFY2020–FY2024
Revenue
$1.3M
FY2023▲ +46%
Revenue by fiscal year
FY2020$359K
FY2021$825K
FY2022$918K
FY2023$1.3M
FY2024$972K
Expenses
$1.1M
FY2023▲ +38%
Expenses by fiscal year
FY2020$333K
FY2021$470K
FY2022$792K
FY2023$1.1M
FY2024$676K
Net assets
$1.2M
FY2023▲ +27%
Net assets by fiscal year
FY2020$440K
FY2021$795K
FY2022$922K
FY2023$1.2M
FY2024$1.5M

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 1978.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $906K Management & general 15% · $166K Fundraising 2% · $23K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

11 people listed on the 990; $51K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$50,933Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Caroline Crumpacker$19,013$50,933$50,233$47,033$57,000
Katherine Mithcell$40,961————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers public access to nature, art, performances, and learning through its park and facilities.

Provided by the organization

This section is blank until Opus 40 INC claims this page.

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1 program service account for $906K of program spending, described in the organization's own filed words · FY2023.
01

The maintenance of the property and presenting of arts programs.

$906Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 4 funders$16K
See all 4 funders →

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$1.3M
Ln 12
Gifts and grantsLn 1h$885K
Fees for servicesLn 2g$430K
Other incomeLn 4–11$24K
Money outPt IX
$1.1M
Ln 25
Programscol B$906K
Managementcol C$166K
Fundraisingcol D$23K
Owns and owesPt X
$1.2M
net assets · Ln 32
Cash and savingsLn 1–2$332K
Total assetsLn 16$1.8M
LiabilitiesLn 26$583K
PeoplePt VI, VII
11
listed · VII A
PaidVII A1
Voting boardVI 1a8
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$885K
Government grantsLn 1e$600K
Fees for servicesLn 2g$430K
Investment incomeLn 3$54
Other incomeLn 4–11$24K
Total revenueLn 12$1.3M
Assets in detailPt X, end of year
CashLn 1$332K
Cash and savings togetherLn 1–2$332K
Land, buildings, equipmentLn 10c$1.4M
Other assetsLn 15$3K
Total assetsLn 16$1.8M
LiabilitiesLn 26$583K
Net assetsLn 32$1.2M
OperationsPt I, VI
EmployeesI 526
VolunteersI 610
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$507K$332K
Land, buildings, equipmentLn 10c$402K$1.4M
Total assetsLn 16$940K$1.8M
LiabilitiesLn 26$18K$583K
Net assetsLn 32$922K$1.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$51K$36K$12K$3K
Other salaries and wagesLn 7$213K$151K$49K$13K
Other employee benefitsLn 9$23K$16K$5K$1K
Payroll taxesLn 10$23K$16K$5K$1K
Legal feesLn 11b$250$250
Accounting feesLn 11c$19K$19K
Other fees for servicesLn 11g$4K$4K
Advertising and promotionLn 12$15K$7K$7K$1K
Office expensesLn 13$13K$9K$4K
OccupancyLn 16$27K$20K$5K$905
TravelLn 17$6K$6K$631
InterestLn 20$14K$14K
Depreciation, depletion and amortizationLn 22$31K$25K$6K
InsuranceLn 23$19K$13K$6K
Other expenses (24a–d)Ln 24$549K$530K$18K
All other expensesLn 24e$89K$76K$11K$2K
Total functional expensesLn 25$1.1M$906K$166K$23K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $972K$676K$296K$1.5M 990 PDF
FY2023 Viewing $1.3M$1.1M$245K$1.2M 990 PDF
FY2022 $918K$792K$127K$922K 990 PDF
FY2021 $825K$470K$356K$795K 990 PDF
FY2020 $359K$333K$26K$440K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (4 parts)
Part VIII · Statement of revenue $1,338,744 across 7 lines filed
Lines not itemized here account for $23,562 of total revenue; see the IRS return.
VIII-1b Membership dues$29,575
VIII-1e Government grants$600,000
VIII-1f All other contributions, gifts and grants$255,559
VIII-1h Total contributions, gifts and grants$885,134
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $429,994$429,994
VIII-3 Investment incomeExcluded from tax $54$54
VIII-12 Total revenueRelated to mission $429,994 · Unrelated business $0 · Excluded from tax $23,616$1,338,744
Part IX · Statement of functional expenses $1,093,831 across 16 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $36,162 · Management $11,715 · Fundraising $3,056$50,933
IX-7 Other salaries and wagesPrograms $150,948 · Management $48,898 · Fundraising $12,756$212,602
IX-9 Other employee benefitsPrograms $16,035 · Management $5,194 · Fundraising $1,354$22,583
IX-10 Payroll taxesPrograms $16,441 · Management $5,326 · Fundraising $1,389$23,156
IX-11b Legal feesManagement $250$250
IX-11c Accounting feesManagement $18,829$18,829
IX-11g Other fees for servicesManagement $3,575$3,575
IX-12 Advertising and promotionPrograms $7,021 · Management $7,021 · Fundraising $1,100$15,142
IX-13 Office expensesPrograms $9,163 · Management $3,927$13,090
IX-16 OccupancyPrograms $20,417 · Management $5,331 · Fundraising $905$26,653
IX-17 TravelPrograms $5,688 · Management $631$6,319
IX-20 InterestManagement $13,835$13,835
IX-22 Depreciation, depletion and amortizationPrograms $24,522 · Management $6,130$30,652
IX-23 InsurancePrograms $13,192 · Management $5,653$18,845
IX-24 Other expenses (24a–d)Programs $530,324 · Management $18,375$548,699
IX-24e All other expensesPrograms $75,609 · Management $10,881 · Fundraising $2,178$88,668
IX-25 Total functional expensesPrograms $905,522 · Management $165,571 · Fundraising $22,738$1,093,831
Part X · Balance sheet $1,750,319 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $506,739$332,002
X-3 Pledges and grants receivable$15,000
X-8 Inventories for sale or useStart of year $17,419$18,315
X-10c Land, buildings and equipment, netStart of year $402,267$1,382,085
X-15 Other assetsStart of year $14,008$2,917
X-16 Total assetsStart of year $940,433$1,750,319
X-17 Accounts payable and accrued expensesStart of year $3,427$2,356
X-19 Deferred revenue$15,000
X-25 Other liabilitiesStart of year $14,727$15,771
X-26 Total liabilitiesStart of year $18,154$583,127
X-27 Net assets without donor restrictionsStart of year $538,047$782,960
X-28 Net assets with donor restrictionsStart of year $384,232$384,232
X-32 Total net assets or fund balancesStart of year $922,279$1,167,192
X-33 Total liabilities and net assetsStart of year $940,433$1,750,319
Part XI · Reconciliation of net assets $1,167,192 net assets at year end
XI-1 Total revenue$1,338,744
XI-2 Total expenses$1,093,831
XI-3 Revenue less expenses$244,913
XI-4 Net assets at start of year$922,279
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,167,192

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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