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Schenectady Light Opera Company INC FY2021 filing

Tax-deductible

Schenectady, NY501(c)(3)Since 1979Arts & CultureEIN 23-7224835

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The Schenectady Light Opera Company, INC.'s (sloc) purpose is to develop an appreciation of the musical arts in the local community by promoting and producing musical productions.

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

Before you give

FY2021 · 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
2 of 5
filings with a surplus
Average deficit $2K a year · under 1% of revenue · last 5 filings
Concern: a surplus in 2 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
Cash reserves
6 mo
of spending, in cash
Looks good: 6.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $128
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$334K
23% of total assets
Looks good: liabilities are 23% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$236K
-6% vs prior year
Spent
$188K
To programs
83%
Net assets
$1.2M
By yearFY2020–FY2024
Revenue
$236K
FY2021▼ -6%
Revenue by fiscal year
FY2020$250K
FY2021$236K
FY2022$223K
FY2023$316K
FY2024$359K
FY2024$467K
Expenses
$188K
FY2021▼ -35%
Expenses by fiscal year
FY2020$289K
FY2021$188K
FY2022$251K
FY2023$333K
FY2024$334K
FY2024$315K
Net assets
$1.2M
FY2021▲ +7%
Net assets by fiscal year
FY2020$1.1M
FY2021$1.2M
FY2022$1.1M
FY2023$1.1M
FY2024$1.1M
FY2024$1.3M

From the FY2021 Form 990 (year ending May 2021) · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Exemption reinstated (2012-10-15). Per the IRS revocation list. Latest filing on record: FY2024. IRS ruling in Apr 2014.

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% · $156K Management & general 17% · $32K Fundraising 0% · $326

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

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Who runs it and what they're paid

15 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
Adrienne Sherman
Vicepresident
$0Pt VII · Sec A
Amy Clark
Secretary
$0Pt VII · Sec A
Mark Viscusi
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Gary Hoffmann
Bd Member
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Schenectady Light Opera Company INC executive salaries →

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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 15aNo

Programs and updates

Promotes and produces musical productions to foster community appreciation for the arts.

Provided by the organization

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1 program · $156K · in their own filed words · FY2020
01

In the 2020-2021 fiscal year the Company was not able to produce any of its 5 anticipated shows due to restrictions related to and arising from the COVID-19 pandemic. The ever changing environment has allowed SLOC to resume productions in a limited capacity during the 2021-2022 fiscal year, benefiting the local community, cast, and…

$156Kprogram expense

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 · FY2023
Amazonsmile FoundationFY2023$128
Total grants receivedfrom 1 funder$128

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$236K
Ln 12
Gifts and grantsLn 1h$189K
Other incomeLn 4–11$44K
Investment incomeLn 3$3K
Money outPt IX
$188K
Ln 25
Programscol B$156K
Managementcol C$32K
Fundraisingcol D$326
Owns and owesPt X
$1.2M
net assets · Ln 32
Cash and savingsLn 1–2$99K
Total assetsLn 16$1.5M
LiabilitiesLn 26$334K
PeoplePt VI, VII
15
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$189K
Investment incomeLn 3$3K
Other incomeLn 4–11$44K
Total revenueLn 12$236K
Assets in detailPt X, end of year
CashLn 1$92K
SavingsLn 2$7K
Cash and savings togetherLn 1–2$99K
InvestmentsLn 11–13$82K
Land, buildings, equipmentLn 10c$1.2M
Other assetsLn 15$5K
Total assetsLn 16$1.5M
LiabilitiesLn 26$334K
Net assetsLn 32$1.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 6275
Fiscal year endsHeaderMay
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$96K$99K
InvestmentsLn 11–13$56K$82K
Land, buildings, equipmentLn 10c$1.3M$1.2M
Total assetsLn 16$1.5M$1.5M
LiabilitiesLn 26$405K$334K
Net assetsLn 32$1.1M$1.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$4K$4K
Advertising and promotionLn 12$2K$2K$240
Office expensesLn 13$1K$763$490
Information technologyLn 14$657$657
OccupancyLn 16$36K$28K$9K
InterestLn 20$15K$15K
Depreciation, depletion and amortizationLn 22$77K$77K
InsuranceLn 23$45K$45K$345
Other expenses (24a–d)Ln 24$6K$3K$2K$326
Total functional expensesLn 25$188K$156K$32K$326

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $359K$334K$25K$1.1M 990 PDF
FY2023 $316K$333K−$17K$1.1M 990 PDF
FY2022 $223K$251K−$27K$1.1M 990 PDF
FY2021 Viewing $236K$188K$47K$1.2M 990 PDF
FY2020 $250K$289K−$39K$1.1M 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 FY2021 990 (4 parts)
Part VIII · Statement of revenue $235,578 across 7 lines filed
VIII-1b Membership dues$1,215
VIII-1f All other contributions, gifts and grants$187,876
VIII-1h Total contributions, gifts and grants$189,091
VIII-3 Investment incomeRelated to mission $2,812$2,812
VIII-6 Net rental income or lossRelated to mission $43,675$43,675
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $46,487$235,578
Part IX · Statement of functional expenses $188,249 across 9 lines filed
IX-11c Accounting feesManagement $4,157$4,157
IX-12 Advertising and promotionPrograms $1,732 · Management $240$1,972
IX-13 Office expensesPrograms $763 · Management $490$1,253
IX-14 Information technologyManagement $657$657
IX-16 OccupancyPrograms $27,868 · Management $8,607$36,475
IX-20 InterestManagement $15,435$15,435
IX-22 Depreciation, depletion and amortizationPrograms $77,172$77,172
IX-23 InsurancePrograms $44,702 · Management $345$45,047
IX-24 Other expenses (24a–d)Programs $3,414 · Management $2,341 · Fundraising $326$6,081
IX-25 Total functional expensesPrograms $155,651 · Management $32,272 · Fundraising $326$188,249
Part X · Balance sheet $1,485,017 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $88,651$91,648
X-2 Savings and temporary cash investmentsStart of year $7,290$7,297
X-4 Accounts receivable$3,000
X-9 Prepaid expenses and deferred chargesStart of year $69,904$51,418
X-10c Land, buildings and equipment, netStart of year $1,258,532$1,245,502
X-13 Program-related investmentsStart of year $55,866$81,579
X-15 Other assetsStart of year $5,289$4,573
X-16 Total assetsStart of year $1,485,532$1,485,017
X-17 Accounts payable and accrued expensesStart of year $63,634$32,868
X-19 Deferred revenueStart of year $30,278$15,687
X-25 Other liabilitiesStart of year $3,000$3,000
X-26 Total liabilitiesStart of year $405,242$334,450
X-27 Net assets without donor restrictionsStart of year $1,080,290$1,150,567
X-32 Total net assets or fund balancesStart of year $1,080,290$1,150,567
X-33 Total liabilities and net assetsStart of year $1,485,532$1,485,017
Part XI · Reconciliation of net assets $1,150,567 net assets at year end
XI-1 Total revenue$235,578
XI-2 Total expenses$188,249
XI-3 Revenue less expenses$47,329
XI-4 Net assets at start of year$1,080,290
XI-5 Net unrealized gains (losses) on investments$22,950
XI-10 Net assets at end of year$1,150,567

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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