Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1974.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
75 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Who runs it and what they're paid
19 people listed on the 990; $109K paid to officers and key staff.
Lawrence Edelson’s $151K as General Dir. is at the 67th percentile of top reported officer pay among 3924 $1–10M 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 · 4 named individuals · Part VII
| Name | FY2024 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Lawrence Edelson | $150,815 | $72,115 | — | — | — | — |
| Lidiya Yankovskaya | — | $126,308 | — | $103,417 | — | — |
| Ashley Magnus | — | $36,154 | $107,055 | $115,139 | $108,939 | $96,791 |
| Meaghan Smallwood | $97,115 | $103,266 | — | — | — | — |
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
Presents innovative opera experiences, focusing on new and rarely performed works.
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Production
Since its founding in 1973, in a city where storefront theaters and global icons thrive side by side, cot has grown from a grassroots, community-based company to a national leader in an increasingly vibrant, diverse, and forward-looking art form.
Other Programs
Cot young artists - the COT/CCPA young artist program is a specialized opportunity for developing pianists and singers. It allows developing artists with exceptional career promise and mastery of basic skills to focus on all areas of their artistic growth.
Educational Programs
Opera for all - opera for all (ofa) is an elementary program for chicago public school students. Ofa inspires students to understand the art by participating in it, both in production and in performance.
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Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2021 990, line by line.
Download 990
| Line | Start FY21 | End FY21 |
|---|---|---|
| Cash and savingsLn 1–2 | $681K | $461K |
| Land, buildings, equipmentLn 10c | $9K | $5K |
| Total assetsLn 16 | $1.7M | $1.8M |
| LiabilitiesLn 26 | $438K | $225K |
| Net assetsLn 32 | $1.2M | $1.6M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $109K | $54K | $33K | $22K |
| Other salaries and wagesLn 7 | $740K | $500K | $110K | $130K |
| Other employee benefitsLn 9 | $52K | $42K | $3K | $6K |
| Payroll taxesLn 10 | $69K | $42K | $16K | $12K |
| Accounting feesLn 11c | $18K | $18K | ||
| Other fees for servicesLn 11g | $419K | $238K | $11K | $169K |
| Advertising and promotionLn 12 | $8K | $7K | $550 | |
| Office expensesLn 13 | $39K | $24K | $5K | $10K |
| RoyaltiesLn 15 | $2K | $2K | ||
| OccupancyLn 16 | $103K | $97K | $2K | $4K |
| TravelLn 17 | $75K | $71K | $2K | $727 |
| InterestLn 20 | $3 | $3 | ||
| Depreciation, depletion and amortizationLn 22 | $4K | $4K | ||
| InsuranceLn 23 | $33K | $19K | $6K | $8K |
| Other expenses (24a–d)Ln 24 | $698K | $683K | $15K | $300 |
| All other expensesLn 24e | $11K | $6K | $5K | |
| Total functional expensesLn 25 | $2.4M | $1.8M | $226K | $362K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 | $2.1M | $2.7M | −$616K | $1.3M | 990 PDF |
| FY2023 | $2.7M | $3.4M | −$759K | $2.0M | 990 PDF |
| FY2022 | $4.1M | $3.1M | $1.1M | $2.6M | 990 PDF |
| FY2021 Viewing | $2.7M | $2.4M | $355K | $1.6M | 990 PDF |
| FY2020 | $3.3M | $2.5M | $803K | $1.2M | 990 PDF |
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Schedules filed Part IV
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $2,733,025 across 10 lines filed
Part IX · Statement of functional expenses $2,378,350 across 16 lines filed
Part X · Balance sheet $1,804,521 assets, 15 lines filed
Part XI · Reconciliation of net assets $1,579,250 net assets at year end
Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File
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