Seattle Opera Foundation FY2024 filing

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To support Seattle Opera in pursuing its exempt purpose through contribution support.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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 6
filings with a surplus
Average deficit $904K a year · 79% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
15 mo
of spending, in cash
Plus $27.9M in investments, Pt X · Ln 11–13
Looks good: 14.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.5M
×15 vs prior year
Spent
$1.5M
To programs
91%
Net assets
$29.9M
By yearFY2020–FY2025
Revenue
$2.5M
FY2024▲ ×15
Tap a bar for its year
Revenue by fiscal year
FY2020$1.0M
FY2021$1.5M
FY2022$470K
FY2023−$191K
FY2024$2.5M
FY2025$1.6M
Expenses
$1.5M
FY2024▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2020$3.8M
FY2021$1.8M
FY2022$2.2M
FY2023$1.4M
FY2024$1.5M
FY2025$1.5M
Net assets
$29.9M
FY2024▲ +10%
Tap a bar for its year
Net assets by fiscal year
FY2020$24.3M
FY2021$30.5M
FY2022$25.3M
FY2023$27.2M
FY2024$29.9M
FY2025$32.0M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 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 Jun 1982.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $1.4M Management & general 9% · $127K

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

10 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
See Seattle Opera Foundation executive salaries →

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 15aNo

Programs and updates

Provides financial support to Seattle Opera for its artistic mission.

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1 program · $1.4M · in their own filed words · FY2023
01

Seattle opera foundation distributions provide support exculsively to seattle opera, an internal revenue code 501(c)3 public charity. During seattle opera's 2023/2024 season, the company witnessed continued growth of in-person attendence at mccaw hall, tagney jones hall, and other venues, especially as people became more comfortable with…

$1.4Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 6 grants · $11.8M · 2019–2024
Seattle OperaWA · FY2024$1,361,504
Seattle OperaWA · FY2023$1,355,530
Seattle OperaWA · FY2022$1,331,952
Seattle OperaWA · FY2021$2,097,229
Seattle OperaWA · FY2020$1,817,666
Seattle OperaWA · FY2019$3,803,000

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$2.5M
Ln 12
Investment incomeLn 3$1.3M
Gifts and grantsLn 1h$1.2M
Money outPt IX
$1.5M
Ln 25
Programscol B$1.4M
Managementcol C$127K
Owns and owesPt X
$29.9M
net assets · Ln 32
Cash and savingsLn 1–2$1.8M
Total assetsLn 16$29.9M
LiabilitiesLn 26$0
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.2M
Government grantsLn 1e$0
Noncash giftsLn 1g$532K
Fundraising eventsLn 1c$0
Investment incomeLn 3$1.3M
Gains on assetsLn 7$531K
Total revenueLn 12$2.5M
Assets in detailPt X, end of year
CashLn 1$1.8M
Cash and savings togetherLn 1–2$1.8M
InvestmentsLn 11–13$27.9M
Other assetsLn 15$128K
Total assetsLn 16$29.9M
LiabilitiesLn 26$0
Net assetsLn 32$29.9M
OperationsPt I, VI
EmployeesI 50
VolunteersI 69
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$532K
Investment feesPt IX, Sch D
Investment fees, as reportedPt IX 11f$116K
Share of the $29.9M endowmentSch D 1g0.39%
Typical, median of 1,806 orgs0.44%
EndowmentSch D · Pt V
LineFY24FY23FY22FY21FY20
End of yearLn 1g$29.9M$27.2M$25.3M$30.5M$24.3M
Given inLn 1b$1.2M$773K$12K$1.1M$155K
SpentLn 1d–1f$1.4M$1.4M$2.2M$1.8M$3.8M
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$819K$1.8M
InvestmentsLn 11–13$26.3M$27.9M
Total assetsLn 16$27.2M$29.9M
LiabilitiesLn 26$1K$0
Net assetsLn 32$27.2M$29.9M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.4M$1.4M
Accounting feesLn 11c$10K$10K
Investment management feesLn 11f$116K$116K
Office expensesLn 13$125$125
InsuranceLn 23$2K$2K
Total functional expensesLn 25$1.5M$1.4M$127K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Dec 18, 2025 $1.6M$1.5M$86K$32.0M 990 PDF
FY2024 ViewingFiled with the IRS Apr 8, 2025 $2.5M$1.5M$986K$29.9M 990 PDF
FY2023Filed with the IRS Apr 26, 2024 −$191K$1.4M−$1.6M$27.2M 990 PDF
FY2022Filed with the IRS Apr 10, 2023 $470K$2.2M−$1.7M$25.3M 990 PDF
FY2021Filed with the IRS Mar 16, 2022 $1.5M$1.8M−$316K$30.5M 990 PDF
FY2020Filed with the IRS Mar 21, 2021 $1.0M$3.8M−$2.8M$24.3M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $2,468,174 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $773,289$1,181,710
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year −$964,545$1,286,464
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year −$191,256$2,468,174
I-13 Grants and similar amounts paidPrior year $1,331,952$1,355,530
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $109,640$127,028
I-18 Total expensesPrior year $1,441,592$1,482,558
I-19 Revenue less expensesPrior year −$1,632,848$985,616
Part VI · Governance 10 of 10 board members independent, 1 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $2,468,174 across 12 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$1,181,710
VIII-1g Noncash contributions (included above)$532,206
VIII-1h Total contributions, gifts and grants$1,181,710
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $0 · Excluded from tax $755,662$755,662
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax $530,802$530,802
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $1,286,464$2,468,174
Part IX · Statement of functional expenses $1,482,558 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $1,355,530$1,355,530
IX-11c Accounting feesManagement $9,600$9,600
IX-11f Investment management feesManagement $115,524$115,524
IX-13 Office expensesManagement $125$125
IX-23 InsuranceManagement $1,779$1,779
IX-25 Total functional expensesPrograms $1,355,530 · Management $127,028 · Fundraising $0$1,482,558
Part X · Balance sheet $29,876,145 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $818,673$1,830,117
X-11 Publicly traded securitiesStart of year $26,300,578$27,918,420
X-15 Other assetsStart of year $114,001$127,608
X-16 Total assetsStart of year $27,233,252$29,876,145
X-26 Total liabilitiesStart of year $1,435$0
X-27 Net assets without donor restrictionsStart of year −$579−$579
X-28 Net assets with donor restrictionsStart of year $27,232,396$29,876,724
X-32 Total net assets or fund balancesStart of year $27,231,817$29,876,145
X-33 Total liabilities and net assetsStart of year $27,233,252$29,876,145
Part XI · Reconciliation of net assets $29,876,145 net assets at year end
XI-1 Total revenue$2,468,174
XI-2 Total expenses$1,482,558
XI-3 Revenue less expenses$985,616
XI-4 Net assets at start of year$27,231,817
XI-5 Net unrealized gains (losses) on investments$1,645,105
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$13,607
XI-10 Net assets at end of year$29,876,145

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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