Opera on Tap FY2021 filing

Brooklyn, NY · Public charity (501(c)(3)) · Since 2008 · Arts & Culture

✓ Tax-deductible
Revenue
$281K
+35% vs prior year
Spent
$378K
To programs
73%
Net assets
−$149K
By yearFY2020–FY2024
Revenue
$281K
FY2021▲ +35%
Revenue by fiscal year
FY2020$209K
FY2021$281K
FY2022$499K
FY2024$582K
FY2024$444K
Expenses
$378K
FY2021▲ +77%
Expenses by fiscal year
FY2020$214K
FY2021$378K
FY2022$746K
FY2024$665K
FY2024$463K
Net assets
−$149K
FY2021▼ -161%
Net assets by fiscal year
FY2020−$57K
FY2021−$149K
FY2022−$396K
FY2024−$510K
FY2024−$531K

From the FY2021 Form 990 · see the original

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Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item COpera on Tap
EINHdr · item D20-4554125
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFJan 2007
Year of formationHdr · item L2008
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CBrooklyn, NY
NTEE classificationIRS BMFArts & Culture (A6A)
WebsiteHdr · item Joperaontap.org

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.73 Management & general $0.23 Fundraising $0.04
Program services73%$277K
Management & general23%$86K
Fundraising4%$15K
Total functional expensesLn 25$378K

Financial health

Is it on solid ground?

Program efficiency
73%
of spending reaches programs
Operating runway
7.4mo
months of highly liquid reserves at operating expense rate
Surplus margin
-34%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Total assets
$238K
FY2021▲ ×12
Total assets by fiscal year
FY2020$19K
FY2021$238K
FY2022$108K
FY2024$92K
FY2024$91K
Total liabilities
$387K
FY2021▲ +407%
Total liabilities by fiscal year
FY2020$76K
FY2021$387K
FY2022$503K
FY2024$603K
FY2024$622K
Revenue less expensesPt I · Ln 19−$97K
Total assetsPt X · Ln 16$238K
Program-expense ratioPt IX · col B73%
Voting members of governing bodyPt I · Ln 311
Independent voting membersPt I · Ln 410

Balance Sheet

Part X · end of year
CashLn 1$234K
Total assetsLn 16$238K
Total liabilitiesLn 26$387K
Total net assetsLn 32−$149K
Months of cash on handcomputed7.4

Statement of Revenue

Part VIII
Contributions & grants$223K · 79%
Program service revenue$59K · 21%
Contributions & grants79%$223K
Program service revenue21%$59K
— government grantsLn 1e$103K
Total revenueLn 12$281K

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $234K · Operating expenses/yr $378K
7.4 months
Where the money goes
Program services
Program services $277K · Total expenses $378K
73%
Management & General
Management & general $86K · Total expenses $378K
23%
Fundraising
Fundraising $15K · Total expenses $378K
4%
Cost to raise $1
Fundraising expense (2-yr avg) $7K · Solicited contributions (2-yr avg) $98K
$0.07 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $223K · Total revenue $281K
79%
Government reliance
Government grants $103K · Total revenue $281K
37%
Earned-income share
Program service revenue $59K · Total revenue $281K
21%
Investment reliance
Investment income $0 · Total revenue $281K
0%
Program self-sufficiency
Program service revenue $59K · Total expenses $378K
16%
Growth & trend
Revenue growth (YoY)
This year $281K · Prior year $209K
+35%
Net-asset trend (YoY)
End of year −$149K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $281K · Expenses $378K
-34%
Liabilities-to-Assets
Total liabilities — · Total assets $238K
—
Net-asset ratio
Net assets −$149K · Total assets $238K
-63%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $238K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Anne Hiatt · Reported title Assistant Secretary · Highest reported compensation $54K · Total expenses $378K
14%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $50K · Total expenses $378K
13%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 73%——
Overhead ratio 23%——
Fundraising cost ratio 7%——
Revenue growth 35%——
Investment management fee ratio 0%——
Legal fee ratio 3%——
Accounting fee ratio 0%——
Fundraising fee ratio 0%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Assistant Secretary
$54,407Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Anne Hiatt’s $113K as President, Executive & Artistic Director is at the 93rd percentile of top reported officer pay among 2215 $100K–1M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2024FY2022FY2021FY2020
Anne Hiatt$112,546$99,248$106,879$54,407$50,391

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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Governance & Policies

Part VI
  • 11Voting board membersPt VI · Ln 1a
  • 10Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14No
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Brings opera to new audiences in unusual places and teaches children its beauty.

Provided by the organization

This section is blank until Opera on Tap claims this page.

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Mission & Programs · Part III

Where the work happens

3 program services account for $188K of program spending, described in the organization's own filed words · FY2021.
01

The Playground Operas program is a school day program that immerses students in the creation, production and performance of an opera. With the pandemic, Opera on Tap has produced virtual programming with the same objective.

$97Kprogram expense
02

Miscellaneous performances, including bar shows and other alternative venues, among the OOT chapters in 22 cities and New York City. New audiences and new singers given the opportunity to perform. These took place sporadically in 2021 because of covid.

$88Kprogram expense
03

Immersive Opera Project

investment in new forms of performance media. No performances in this area took place because of the pandemic. The expenses paid in 2021 relate to production expenses for future projects

$4Kprogram 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 · FY2025
Total grants receivedfrom 1 funder$10K

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 $582K$665K+17% 990 PDF
FY2023 Not on file
FY2022 $499K$746K+77% 990 PDF
FY2021 Viewing $281K$378K+35% 990 PDF
FY2020 $209K$214K 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

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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