Gulfshore Opera LLC: FY2023 Nonprofit Profile & Form 990 (EIN 47-0989874)

Steffanie Pearce’s $85K as Presidentgeneral Director is at the 22nd 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.

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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 classical vocal music and empowers underserved youth through music programs.

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1 program · $984K · in their own filed words · FY2022

01

Presented high quality, diverse classical and popular music performance in a variety of styles, including grand opera, vignettes of classical opera favorites and operetta 7

$984Kprogram 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 · FY2025

Moorings Park Foundation INCFY2025$10K

Total grants receivedfrom 1 funder$10K

By the numbers

The FY2023 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$1.1M

Ln 12

Gifts and grantsLn 1h$719K

Fees for servicesLn 2g$363K

Investment incomeLn 3$24K

Money outPt IX

$984K

Ln 25

Programscol B$984K

Owns and owesPt X

$571K

net assets · Ln 32

Cash and savingsLn 1–2$366K

Total assetsLn 16$585K

LiabilitiesLn 26$14K

PeoplePt VI, VII

8

listed · VII A

PaidVII A0

Voting boardVI 1a8

IndependentVI 1b7

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$719K

Government grantsLn 1e$119K

Fundraising eventsLn 1c$33K

Fees for servicesLn 2g$363K

Investment incomeLn 3$24K

Total revenueLn 12$1.1M

Assets in detailPt X, end of year

CashLn 1$239K

SavingsLn 2$128K

Cash and savings togetherLn 1–2$366K

InvestmentsLn 11–13$190K

Land, buildings, equipmentLn 10c$22K

Total assetsLn 16$585K

LiabilitiesLn 26$14K

Net assetsLn 32$571K

OperationsPt I, VI

EmployeesI 53

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY23	End FY23
Cash and savingsLn 1–2	$263K	$366K
InvestmentsLn 11–13	$190K	$190K
Land, buildings, equipmentLn 10c	$21K	$22K
Total assetsLn 16	$498K	$585K
LiabilitiesLn 26	$22K	$14K
Net assetsLn 32	$476K	$571K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Other salaries and wagesLn 7	$167K	$167K
Accounting feesLn 11c	$15K	$15K
Other fees for servicesLn 11g	$620K	$620K
Advertising and promotionLn 12	$94K	$94K
Office expensesLn 13	$39K	$39K
OccupancyLn 16	$33K	$33K
Depreciation, depletion and amortizationLn 22	$779	$779
InsuranceLn 23	$11K	$11K
Other expenses (24a–d)Ln 24	$4K	$4K
Total functional expensesLn 25	$984K	$984K	$0	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$1.1M	$1.2M	−$43K	$650K	990 PDF
FY2024	Not on file
FY2023 Viewing	$1.1M	$984K	$123K	$571K	990 PDF
FY2022	$1.2M	$999K	$175K	$476K	990 PDF
FY2021	$579K	$497K	$82K	$301K	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations

See the full FY2023 990 (6 parts)

Part I · Summary $1,106,270 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $830,839$718,661

I-9 Program service revenuePrior year $343,548$363,186

I-10 Investment income$24,423

I-11 Other revenue$0

I-12 Total revenuePrior year $1,174,387$1,106,270

I-13 Grants and similar amounts paid$0

I-14 Benefits paid to members$0

I-15 Salaries and benefitsPrior year $176,862$166,591

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $822,514$816,979

I-18 Total expensesPrior year $999,376$983,570

I-19 Revenue less expensesPrior year $175,011$122,700

Part VI · Governance 7 of 8 board members independent, 1 to look at

VI-1a Voting members of the governing body8

VI-1b Independent voting members7

VI-14 Document retention and destruction policyNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $1,106,270 across 7 lines filed

VIII-1c Fundraising events$33,261

VIII-1e Government grants$118,782

VIII-1f All other contributions, gifts and grants$566,618

VIII-1h Total contributions, gifts and grants$718,661

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $363,186$363,186

VIII-3 Investment incomeRelated to mission $24,423$24,423

VIII-12 Total revenueRelated to mission $387,609 · Unrelated business $0 · Excluded from tax $0$1,106,270

Part IX · Statement of functional expenses $983,570 across 9 lines filed

IX-7 Other salaries and wagesPrograms $166,591$166,591

IX-11c Accounting feesPrograms $14,810$14,810

IX-11g Other fees for servicesPrograms $620,023$620,023

IX-12 Advertising and promotionPrograms $94,470$94,470

IX-13 Office expensesPrograms $38,657$38,657

IX-16 OccupancyPrograms $33,142$33,142

IX-22 Depreciation, depletion and amortizationPrograms $779$779

IX-23 InsurancePrograms $10,632$10,632

IX-24 Other expenses (24a–d)Programs $4,466$4,466

IX-25 Total functional expensesPrograms $983,570 · Management $0 · Fundraising $0$983,570

Part X · Balance sheet $585,229 assets, 12 lines filed

X-1 Cash, non-interest-bearingStart of year $262,686$238,902

X-2 Savings and temporary cash investments$127,545

X-3 Pledges and grants receivable$2,500

X-9 Prepaid expenses and deferred chargesStart of year $24,486$4,613

X-10c Land, buildings and equipment, netStart of year $21,043$22,043

X-11 Publicly traded securitiesStart of year $189,783$189,626

X-16 Total assetsStart of year $497,998$585,229

X-25 Other liabilitiesStart of year $22,301$13,737

X-26 Total liabilitiesStart of year $22,301$13,737

X-27 Net assets without donor restrictionsStart of year $1$571,492

X-32 Total net assets or fund balancesStart of year $475,697$571,492

X-33 Total liabilities and net assetsStart of year $497,998$585,229

Part XI · Reconciliation of net assets $571,492 net assets at year end

XI-1 Total revenue$1,106,270

XI-2 Total expenses$983,570

XI-3 Revenue less expenses$122,700

XI-4 Net assets at start of year$475,697

XI-8 Prior period adjustments−$26,905

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$571,492

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

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Gulfshore Opera LLC FY2023 filing

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