Vero Beach Opera INC EIN 59-2883286 Form 990 (PDF) Claim this org

Vero Beach Opera INC

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Promotes and supports opera in Indian River County, Florida. For fiscal year 2025 it reported $886K in revenue, $655K in expenses, and $2.2M in net assets.Pt I

Founded
1988
Type
Public charity (501(c)(3)) · Arts & Culture
Location
Vero Beach, FL
Website
verobeachopera.org
Filings
5 on file (2021–2025)
Revenue
$886KFY2025
Expenses
$655K
Net assets
$2.2M
People
15
Filings
5
Updates
0
More identity details & actions ⌄
EIN  59-2883286 Public charity (501(c)(3)) Vero Beach, FL Founded 1988
Form 990 (PDF)
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Size
$1–10M
What they do
Promotes and supports opera in Indian River County, Florida.
Leadership
Halsey Edward · Treasurer · $9K
Money in and out
$886K revenue, $655K expenses
Bottom line
83% program efficiency
Where the money goes · FY2025
Total revenue
$886K
Pt VIII · Ln 12
Total expenses
$655K
Pt IX · Ln 25
Net assets
$2.2M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $231K
Where spending went · Part IX cols B–D
Program services $0.83 Management & general $0.15 Fundraising $0.02
Program efficiency
83%
of spending reaches programs▲ +3% vs prior filing year
Operating runway
37.8mo
months of highly liquid reserves at operating expense rate▲ +16% vs prior filing year
Surplus margin
+26%
revenue over expenses, this year▼ -40% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$886K
FY2025▼ -18%
Expenses
$655K
FY2025▲ +7%
Total assets
$2.2M
FY2025▲ +22%
Total liabilities
$0
FY2025▼ -100%
Total revenue
$886K
Pt VIII · Ln 12
Total expenses
$655K
Pt IX · Ln 25
Net assets
$2.2M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$231K
Total assetsPt X · Ln 16$2.2M
Program-expense ratioPt IX · col B83%
Voting members of governing bodyPt I · Ln 314
Independent voting membersPt I · Ln 414

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CVero Beach Opera INC
EINHdr · item D59-2883286
Principal addressHdr · item CVero Beach, FL
WebsiteHdr · item Jverobeachopera.org
Year of formationHdr · item L1988
State of legal domicileHdr · item MFL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A6A0)
Ruling yearIRS BMFOct 1989

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a14
Independent voting membersPt VI · Ln 1b14
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Treasurer
$9,400Pt VII · Sec A
Director
$3,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Halsey Edward’s $9K as Treasurer is at the 1st 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

NameFY2025FY2025FY2024
Halsey Edward$9,400$9,400
Franks Russell$9,000
Halsey Edward$4,350
Lemoine Toni$3,000$3,100
Lemoine Toni$400

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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Mission & Programs · Part III

Where the work happens

1 program service account for $545K of program spending, described in the organization's own filed words · FY2025.
01

Encourage and support of the opera in indian river county, florida by producing high quality opera, concerts and vocal competitions, and provide opera education to children and adults, as well as piano and vocal scholarships.

$545Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$632K · 71%
Program service revenue$201K · 23%
Investment income$52K · 6%
Contributions & grants71%$632K
Program service revenue23%$201K
Investment income6%$52K
Other revenue$1K
Total revenueLn 12$886K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.83 Management & general $0.15 Fundraising $0.02
Program services83%$545K
Management & general15%$95K
Fundraising2%$14K
Total functional expensesLn 25$655K

Balance Sheet

Part X · end of year
CashLn 1$123K
Total assetsLn 16$2.2M
Total liabilitiesLn 26$0
Total net assetsLn 32$2.2M
Months of cash on handcomputed2.3

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $2.1M · Operating expenses/yr $655K
37.8 months
Where the money goes
Program services
Program services $545K · Total expenses $655K
83%
Management & General
Management & general $95K · Total expenses $655K
15%
Fundraising
Fundraising $14K · Total expenses $655K
2%
Cost to raise $1
Fundraising expense (3-yr avg) $14K · Solicited contributions (3-yr avg) $627K
$0.02 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $632K · Total revenue $886K
71%
Government reliance
Government grants — · Total revenue $886K
Earned-income share
Program service revenue $201K · Total revenue $886K
23%
Investment reliance
Investment income $52K · Total revenue $886K
+6%
Program self-sufficiency
Program service revenue $201K · Total expenses $655K
31%
Growth & trend
Revenue growth (YoY)
This year $886K · Prior year $1.1M
-18%
Revenue CAGR
FY2020 $356K · FY2025 $886K
+20%
Net-asset trend (YoY)
End of year $2.2M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $886K · Expenses $655K
+26%
Liabilities-to-Assets
Total liabilities — · Total assets $2.2M
Net-asset ratio
Net assets $2.2M · Total assets $2.2M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $1.9M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $2.2M
89%
People & payroll
Highest Reported Total Compensation
Individual Halsey Edward · Reported title TREASURER · Highest reported compensation $9K · Total expenses $655K
1%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $137K · Total expenses $655K
21%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 83%
Overhead ratio 15%
Fundraising cost ratio 2%
Revenue growth -18%

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.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 11 funders →
Grants paid · 2 grants · $13K · 2023–2024
Unitemized GrantFY2024$6,500
Unitemized GrantFY2023$6,410

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025$1.1M revenue · ⤓ 990 PDF
FY2024$657K revenue · ⤓ 990 PDF
FY2023$462K revenue · ⤓ 990 PDF
FY2022$405K revenue · ⤓ 990 PDF
FY2021$356K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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