Palm Beach Opera INC FY2021 filing

Tax-deductible

West Palm Bch, FL501(c)(3)Since 1962Arts & CultureEIN 59-1060864Revenue $3.2M in FY2021

On file with the IRSpbopera.org425 24th St, 33407-5401 · West Palm Bch, FLTax-exempt since Aug 1965Publicly supported — 509(a)(2)

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Palm Beach Opera is dedicated to producing live Opera at an international standard of excellence and enriching the life of the communities IT serves with a diverse offering of educational programs, concerts and lectures.

501(c)(3) charity; gifts are tax-deductible.
76¢ of each $1 spent went to programs.
$202K 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

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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $377K a year · 6% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
76%
of spending
Looks good: 76% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$202K
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
10 mo
of spending, in cash
Looks good: 10.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $112K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$693K
12% of total assets
Looks good: liabilities are 12% of assets; 50% or less.
Pt X · Ln 26
Independent board members
26
of 26 voting members
Looks good: 26 of 26 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.2M
Spent
$4.2M
To programs
76%
Net assets
$4.9M
By yearFY2021–FY2025
Revenue
$3.2M
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$3.2M
FY2022$9.9M
FY2023$4.2M
FY2024$5.0M
FY2025$7.3M
Expenses
$4.2M
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$4.2M
FY2022$5.1M
FY2023$5.7M
FY2024$6.4M
FY2025$6.3M
Net assets
$4.9M
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$4.9M
FY2022$10.1M
FY2023$8.5M
FY2024$7.0M
FY2025$8.1M

From the FY2021 Form 990 (year ending May 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1965.

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

Where the money goes

76 cents of each dollar spent went to programs.

Program services 76% · $3.2M Management & general 14% · $579K Fundraising 10% · $427K

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

27 people listed on the 990; $202K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
General Dir
$201,787Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A

David Walker’s $213K as Former Direc is at the 87th 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 · 5 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
David Walker$213,182$246,295———
Mr David Walker——$224,823$215,387$201,787
James Barbato$164,166$112,606———
Frederick J Cremona—$123,654———
Mr Joseph Cremona——$116,511$121,104—

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 world-class live opera and offers educational programs, concerts, and lectures.

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Provided by the organization

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3 programs · $3.2M · in their own filed words · FY2020
01

Pbo's core programs are fully staged world-class opera productions featuring a professional orchestra, internationally acclaimed soloists, conductors, directors, and scenic designers, as well as local chorus and stage crew.

$2.9Mprogram expense
02

During the entire pandemic, pbo was able to maintain its two artist training programs for emerging post-graduate singers selected from national auditions. The benenson young artists cover lead roles and sing smaller roles for the mainstage productions, sing lead roles in the children's performance, and sing orchestral concerts.

$309Kprogram expense
03

Outside of adapting its programming to digital and virtual content during the pandemic, pbo's education and community engagement programs normally are delivered to a broad segment of the community through free or low-cost presentations and activities designed to broaden awareness and enthusiasm for the art to people of all ages.

$33Kprogram 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
See all 4 funders →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$3.2M
Ln 12
Gifts and grantsLn 1h$2.9M
Fees for servicesLn 2g$252K
Investment incomeLn 3$18K
Money outPt IX
$4.2M
Ln 25
Programscol B$3.2M
Managementcol C$579K
Fundraisingcol D$427K
Owns and owesPt X
$4.9M
net assets · Ln 32
Cash and savingsLn 1–2$3.6M
Total assetsLn 16$5.6M
LiabilitiesLn 26$693K
PeoplePt VI, VII
27
listed · VII A
PaidVII A1
Voting boardVI 1a26
IndependentVI 1b26
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.9M
Government grantsLn 1e$265K
Noncash giftsLn 1g$67K
Fees for servicesLn 2g$252K
Investment incomeLn 3$18K
Total revenueLn 12$3.2M
Assets in detailPt X, end of year
SavingsLn 2$3.6M
Cash and savings togetherLn 1–2$3.6M
Land, buildings, equipmentLn 10c$123K
Other assetsLn 15$601K
Total assetsLn 16$5.6M
LiabilitiesLn 26$693K
Net assetsLn 32$4.9M
OperationsPt I, VI
EmployeesI 5160
VolunteersI 65
Fiscal year endsHeaderMay
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 FY21End FY21
Cash and savingsLn 1–2$3.4M$3.6M
Land, buildings, equipmentLn 10c$150K$123K
Total assetsLn 16$6.2M$5.6M
LiabilitiesLn 26$1.0M$693K
Net assetsLn 32$5.2M$4.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$1.8M$1.4M$176K$282K
Pension plan contributionsLn 8$24K$10K$9K$6K
Other employee benefitsLn 9$41K$20K$5K$16K
Payroll taxesLn 10$69K$39K$8K$22K
Accounting feesLn 11c$18K$18K
Advertising and promotionLn 12$160K$160K−$24
Office expensesLn 13$37K$9K$28K
Information technologyLn 14$42K$21K$17K$4K
OccupancyLn 16$208K$67K$141K
TravelLn 17$75K$75K$316
InsuranceLn 23$91K$91K
Other expenses (24a–d)Ln 24$1.4M$1.4M
All other expensesLn 24e$195K$13K$85K$97K
Total functional expensesLn 25$4.2M$3.2M$579K$427K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $7.3M$6.3M$969K$8.1M 990 PDF
FY2024 $5.0M$6.4M−$1.4M$7.0M 990 PDF
FY2023 $4.2M$5.7M−$1.5M$8.5M 990 PDF
FY2022 $9.9M$5.1M$4.9M$10.1M 990 PDF
FY2021 Viewing $3.2M$4.2M−$1.0M$4.9M 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 (6 parts)
Part I · Summary $3,191,039 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,893,114$2,947,324
I-9 Program service revenuePrior year $1,034,304$251,630
I-10 Investment incomePrior year $22,239$17,882
I-11 Other revenuePrior year $367,992−$25,797
I-12 Total revenuePrior year $4,317,649$3,191,039
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $3,045,824$1,949,478
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $2,151,728$2,273,341
I-18 Total expensesPrior year $5,197,552$4,222,819
I-19 Revenue less expensesPrior year −$879,903−$1,031,780
Part VI · Governance 26 of 26 board members independent, no flags
VI-1a Voting members of the governing body26
VI-1b Independent voting members26
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $3,191,039 across 9 lines filed
VIII-1d Related organizations$35,000
VIII-1e Government grants$265,027
VIII-1f All other contributions, gifts and grants$2,647,297
VIII-1g Noncash contributions (included above)$66,800
VIII-1h Total contributions, gifts and grants$2,947,324
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $251,630$251,630
VIII-3 Investment incomeExcluded from tax $17,882$17,882
VIII-8 Net income from fundraising events−$25,797
VIII-12 Total revenueRelated to mission $251,630 · Excluded from tax $17,882$3,191,039
Part IX · Statement of functional expenses $4,222,819 across 13 lines filed
IX-7 Other salaries and wagesPrograms $1,356,907 · Management $176,375 · Fundraising $282,124$1,815,406
IX-8 Pension plan contributionsPrograms $9,757 · Management $8,669 · Fundraising $5,775$24,201
IX-9 Other employee benefitsPrograms $19,703 · Management $5,031 · Fundraising $16,353$41,087
IX-10 Payroll taxesPrograms $38,827 · Management $7,858 · Fundraising $22,099$68,784
IX-11c Accounting feesManagement $18,400$18,400
IX-12 Advertising and promotionPrograms $159,938 · Fundraising −$24$159,914
IX-13 Office expensesPrograms $8,834 · Management $28,310$37,144
IX-14 Information technologyPrograms $21,323 · Management $17,028 · Fundraising $3,795$42,146
IX-16 OccupancyPrograms $66,800 · Management $140,801$207,601
IX-17 TravelPrograms $75,144 · Management $316$75,460
IX-23 InsuranceManagement $90,670$90,670
IX-24 Other expenses (24a–d)Programs $1,446,653$1,446,653
IX-24e All other expensesPrograms $12,833 · Management $85,356 · Fundraising $97,164$195,353
IX-25 Total functional expensesPrograms $3,216,719 · Management $578,814 · Fundraising $427,286$4,222,819
Part X · Balance sheet $5,610,221 assets, 14 lines filed
X-2 Savings and temporary cash investmentsStart of year $3,438,442$3,617,432
X-3 Pledges and grants receivableStart of year $2,043,199$1,195,112
X-9 Prepaid expenses and deferred chargesStart of year $93,346$73,743
X-10c Land, buildings and equipment, netStart of year $149,833$123,210
X-15 Other assetsStart of year $468,446$600,724
X-16 Total assetsStart of year $6,193,266$5,610,221
X-17 Accounts payable and accrued expensesStart of year $59,780$85,013
X-19 Deferred revenueStart of year $517,445$382,478
X-24 Unsecured notes and loans payableStart of year $463,286$225,450
X-26 Total liabilitiesStart of year $1,040,511$692,941
X-27 Net assets without donor restrictionsStart of year $1,511,527$2,199,715
X-28 Net assets with donor restrictionsStart of year $3,641,228$2,717,565
X-32 Total net assets or fund balancesStart of year $5,152,755$4,917,280
X-33 Total liabilities and net assetsStart of year $6,193,266$5,610,221
Part XI · Reconciliation of net assets $4,917,280 net assets at year end
XI-1 Total revenue$3,191,039
XI-2 Total expenses$4,222,819
XI-3 Revenue less expenses−$1,031,780
XI-4 Net assets at start of year$5,152,755
XI-5 Net unrealized gains (losses) on investments$15,541
XI-9 Other changes in net assets$780,764
XI-10 Net assets at end of year$4,917,280

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

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