Operalex INC EIN 61-1170162 Form 990 (PDF) Claim this org

Operalex INC

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Promotes opera awareness in Central Kentucky and across the Commonwealth. For fiscal year 2025 it reported $195K in revenue, $250K in expenses, and $455K in net assets.Pt I

Type
Public charity (501(c)(3)) · Arts & Culture
Location
Lexington, KY
Website
www.operalex.org
Filings
4 on file (2021–2025)
Revenue
$195KFY2025
Expenses
$250K
Net assets
$455K
People
27
Filings
4
Updates
0
More identity details & actions ⌄
EIN  61-1170162 Public charity (501(c)(3)) Lexington, KY
Form 990 (PDF)
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Size
$100K–1M
What they do
Promotes opera awareness in Central Kentucky and across the Commonwealth.
Leadership
Money in and out
$195K revenue, $250K expenses
Bottom line
79% program efficiency
Where the money goes · FY2025
Total revenue
$195K
Pt VIII · Ln 12
Total expenses
$250K
Pt IX · Ln 25
Net assets
$455K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$55K
Where spending went · Part IX cols B–D
Program services $0.79 Management & general $0.21
Program efficiency
79%
of spending reaches programs▼ -5% vs prior filing year
Operating runway
21.7mo
months of highly liquid reserves at operating expense rate▼ -20% vs prior filing year
Surplus margin
-28%
revenue over expenses, this year▼ -268% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$195K
FY2025▼ -6%
Expenses
$250K
FY2025▲ +12%
Total assets
$455K
FY2025▼ -11%
Total liabilities
$487
FY2025
Total revenue
$195K
Pt VIII · Ln 12
Total expenses
$250K
Pt IX · Ln 25
Net assets
$455K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$55K
Total assetsPt X · Ln 16$455K
Program-expense ratioPt IX · col B79%
Voting members of governing bodyPt I · Ln 327
Independent voting membersPt I · Ln 427

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item COperalex INC
EINHdr · item D61-1170162
Principal addressHdr · item CLexington, KY
WebsiteHdr · item Jwww.operalex.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MKY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A65Z)
Ruling yearIRS BMFSep 1990

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a27
Independent voting membersPt VI · Ln 1b27
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14Yes
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 · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

3 program services account for $197K of program spending, described in the organization's own filed words · FY2024.
01

Operalex supports many operatic performances, scholarship auditions, and opera promotional events such as luncheons, receptions, cast feeds, and opera classes.

$181Kprogram expense
02

Operalex participated in the metropolitan opera national council's kentucky district and central region auditions.

$15Kprogram expense
03

The outreach program includes websites, newsletters mailed to over 1,300 recipients, maintaining a database, and e-mailing an on-line weekly bulletin newsletter of current and upcoming cultural events.

Pt IX · col B

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Statement of Revenue

Part VIII
Program service revenue$79K · 41%
Contributions & grants$67K · 35%
Other revenue$40K · 20%
Investment income$9K · 4%
Program service revenue41%$79K
Contributions & grants35%$67K
Other revenue20%$40K
Investment income4%$9K
— government grantsLn 1e$16K
Total revenueLn 12$195K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.79 Management & general $0.21
Program services79%$197K
Management & general21%$53K
Total functional expensesLn 25$250K

Balance Sheet

Part X · end of year
CashLn 1$452K
Total assetsLn 16$455K
Total liabilitiesLn 26$487
Total net assetsLn 32$455K
Months of cash on handcomputed21.7

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $452K · Operating expenses/yr $250K
21.7 months
Where the money goes
Program services
Program services $197K · Total expenses $250K
79%
Management & General
Management & general $53K · Total expenses $250K
21%
Fundraising
Fundraising $0 · Total expenses $250K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $95K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $67K · Total revenue $195K
35%
Government reliance
Government grants $16K · Total revenue $195K
8%
Earned-income share
Program service revenue $79K · Total revenue $195K
41%
Investment reliance
Investment income $9K · Total revenue $195K
+4%
Program self-sufficiency
Program service revenue $79K · Total expenses $250K
32%
Growth & trend
Revenue growth (YoY)
This year $195K · Prior year $207K
-6%
Revenue CAGR
FY2020 $401K · FY2024 $195K
-17%
Net-asset trend (YoY)
End of year $455K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $195K · Expenses $250K
-28%
Liabilities-to-Assets
Total liabilities — · Total assets $455K
Net-asset ratio
Net assets $455K · Total assets $455K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $455K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Ann Elizabeth Delahanty · Reported title DIRECTOR · Highest reported compensation $0 · Total expenses $250K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $250K
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 79%
Overhead ratio 21%
Fundraising cost ratio 0%
Revenue growth -6%
Accounting fee ratio 5%

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
Total grants receivedfrom 1 funder$19K
Grants paid · 4 grants · $38K · 2020–2024
Unitemized GrantFY2024$8,351
Unitemized GrantFY2023$6,736
Unitemized GrantFY2022$6,373
Unitemized GrantFY2020$16,553

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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 (Latest)$195K revenue · viewing · ⤓ 990 PDF
FY2024$207K revenue · ⤓ 990 PDF
FY2023$365K revenue · ⤓ 990 PDF
FY2022not on file
FY2021$401K 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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