2025-02-05T14:28:41-06:00 2024-05-31 580692043 MAULDIN & JENKINS LLC 1401 MANATEE AVE W STE 1200 BRADENTON FL 34205 990 2023-06-01 237089047 SARASOTA OPERA ASSOCIATION INC SARA 9413668450 61 N PINEAPPLE AVENUE SARASOTA FL 34236 RICHARD A RUSSELL GENERAL DIRECTOR 9413668450 2025-01-30 1 1 BRIAN CARTER P00536712 9417474483 2025-01-30 2023 2025-03-06 01:10:19Z RICHARD A RUSSELL 61 N PINEAPPLE AVENUE SARASOTA FL 34236 16778410 0 X WWW.SARASOTAOPERA.ORG X 1961 FL TO PRODUCE OUTSTANDING OPERA TRUE TO THE VISION OF THE COMPOSER, TO ENTERTAIN, ENRICH, AND EDUCATE THE COMMUNITIES IN SOUTHWEST FLORIDA AS WELL AS PATRONS FROM ACROSS THE STATE AND AROUND THE WORLD. 27 25 154 250 0 0 3633048 4391593 3388505 3608610 206672 434595 407494 485717 7635719 8920515 9000 14000 0 0 5225278 5149700 0 0 682102 4548726 4641274 9783004 9804974 -2147285 -884459 28294534 30963445 5876552 8266232 22417982 22697213 X TO PRODUCE OUTSTANDING OPERA TRUE TO THE VISION OF THE COMPOSER, TO ENTERTAIN, ENRICH, AND EDUCATE THE COMMUNITIES IN SOUTHWEST FLORIDA AS WELL AS PATRONS FROM ACROSS THE STATE AND AROUND THE WORLD. TO PRODUCE SUCH OPERAS; AND TO FOSTER, PROMOTE, AND INCREASE PUBLIC KNOWLEDGE AND APPRECIATION OF OPERA AND SIMILAR PRESENTATIONS; TO INSTRUCT, TRAIN AND EDUCATE BOTH STUDENTS AND THE PUBLIC, GENERALLY, IN OPERA, MUSIC, AND RELATED PREFORMING ARTS; AND TO RENT, ACQUIRE FOR USE, OR OWN, MAINTAIN, AND OPERATE A PLACE OR PLACES TO ACCOMPLISH THESE OBJECTIVES. 0 0 7244592 14000 3905154 SARASOTA OPERA CONTINUED ITS JOURNEY TOWARD A PRE-COVID OPERATING SCHEDULE. IN THE FALL OF 2023, THE OPERA PRESENTED TWO PERFORMANCES OF PUCCINI'S MUSIC TO SOLD OUT HOUSES. THE WINTER FESTIVAL CONSISTED OF THIRTY-ONE PERFORMANCES, TWO MORE THAN THE PREVIOUS YEAR AND ONLY FIVE FEWER THAN THE PRE-COVID SEASON. FOUR DIFFERENT OPERAS WERE PRESENTED IN FRONT OF NEARLY 27,000 PATRONS. IN ADDITION TO THESE THIRTY-ONE MAIN STAGE PERFORMANCES, THE OPERA'S YOUTH OPERA PROGRAM PRESENTED TWO PERFORMANCES IN THE FALL OF 2023. IT EXPANDED ITS COMMUNITY OUTREACH EVENTS, IN-SCHOOL PERFORMANCES AND TEACHER WORKSHOPS. THE OPERA'S TWO GUILD ORGANIZATIONS ALSO ADDED FUNDRAISING EVENTS AND ACTIVITIES. 7244592 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 254 0 154 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 27 25 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 FL X X X KEN TARASI 9413668450 61 N PINEAPPLE AVENUE SARASOTA FL 34236 ARTHUR SICILIANO CHAIR 5.00 X X 0 0 0 KATHERINE BENOIT VICE CHAIR 5.00 X X 0 0 0 RON ARCHBOLD TREASURER 5.00 X X 0 0 0 STEVE SABATO SECRETARY 5.00 X X 0 0 0 J SUMNER BAGBY TRUSTEE 2.00 X 0 0 0 ULYSSES BRUALDI TRUSTEE 2.00 X 0 0 0 DAVID CHAIFETZ TRUSTEE 2.00 X 0 0 0 RICHARD DEGENNARO TRUSTEE 2.00 X 0 0 0 PAUL DELAURO TRUSTEE 2.00 X 0 0 0 VICTOR DERENZI TRUSTEE 2.00 X 0 0 0 SYBLE DI GIROLAMO TRUSTEE 2.00 X 0 0 0 CAROL ENGLISH TRUSTEE 2.00 X 0 0 0 FRANCES DALY FERGUSSON TRUSTEE 2.00 X 0 0 0 MERYL GALE TRUSTEE 2.00 X 0 0 0 ROGER S KAUFMAN TRUSTEE 2.00 X 0 0 0 PHILIP J LOMBARDO TRUSTEE 2.00 X 0 0 0 ROSANNE MARTORELLA TRUSTEE 2.00 X 0 0 0 MARY J MITCHELL TRUSTEE 2.00 X 0 0 0 TOBY SIEGEL TRUSTEE 2.00 X 0 0 0 JANET STERN SOLOMON TRUSTEE 2.00 X 0 0 0 SUSAN K STRAUS TRUSTEE 2.00 X 0 0 0 JOHN F SUHRE TRUSTEE 2.00 X 0 0 0 WILLIAM D TOMPKINS TRUSTEE 2.00 X 0 0 0 JEFF TROIANO TRUSTEE 2.00 X 0 0 0 MICHAL WADSWORTH TRUSTEE 2.00 X 0 0 0 DONALD J WORTHINGTON TRUSTEE 2.00 X 0 0 0 RICHARD RUSSELL GENERAL DIRECTOR 50.00 X X 285022 0 9818 KENNETH TARASI DIRECTOR OF FINANCE 50.00 X 109480 0 9609 394502 0 19427 2 0 1 0 DERENZI & SUNDINE INC 1111 N GULFSTREAM AVE SARASOTA FL 34236 ARTISTIC DIRECTION, STAGE DIRECTION, CON 480593 M OLIVIA ATTN MARK FAMIGLIA 1247 MANDALAY P SARASOTA FL 34242 WAREHOUSE STORAGE SPACE FOR SETS 270000 OPERA SAN JOSE INC 2149 PARAGON DR SAN JOSE CA 95131 SET BUILDING 112229 TESSITURA NETWORK INC PO BOX 222234 DALLAS TX 75222 TICKETING AND FUNDRAISING SOFTWARE & SUP 110957 ROSEMARY SQUARE LLC C/O RED PROPERTY MNGMT 555 S OSPRE SARASOTA FL 34236 COMMON AREA MAINTENANCE FOR ARTISTS RESI 106477 5 237908 4153685 4391593 OPERA PRODUCTIONS 711110 2539202 2539202 RENTAL 711110 860528 860528 SARASOTA YOUTH OPERA 711110 208880 208880 3608610 288595 288595 7659732 92 7513824 0 145908 92 146000 146000 533244 344071 189173 189173 OTHER INCOME 711110 296544 296544 296544 8920515 3905154 0 623768 14000 14000 736801 164850 347163 224788 3869168 3095689 644235 129244 363960 260902 64844 38214 179771 97906 60890 20975 3392 3392 26000 26000 97149 97149 330772 330772 190376 13966 160763 15647 154719 256 154463 1257411 1184378 73033 548675 548349 326 33012 12891 17753 2368 207917 69254 132941 5722 826309 806906 19403 176795 170875 5920 PRODUCTION MATERIALS 446996 446996 GUILDS 165059 165059 FUNDRAISING 79759 79759 GENERAL & ADMINISTRATIV 45079 45079 51854 26602 25252 9804974 7244592 1878280 682102 132212 135727 70004 270765 301448 288915 78986 20000 106325 133992 29344209 14338557 15480201 15005652 10860172 11764300 1265186 3344094 28294534 30963445 237159 297757 1079807 1018592 3292054 3582928 1267532 3366955 5876552 8266232 X 14168705 13772945 8249277 8924268 22417982 22697213 28294534 30963445 -884459 1163690 0 X X 0 1 X 1 0 X 4675075 5036758 7023820 3633048 4391593 24760294 2822084 576965 2752503 3719122 4141854 14012528 7497159 5613723 9776323 7352170 8533447 38772822 1193059 470000 400000 100000 725150 2888209 0 1193059 470000 400000 100000 725150 2888209 35884613 196339 183958 217865 272254 288595 1159011 196339 183958 217865 272254 288595 1159011 199948 399271 392542 305406 296544 1593711 7893446 6196952 10386730 7929830 9118586 41525544 0.86420 0.86180 0.02790 0.02690 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10860172 40838 1498914 635624 11764300 11218599 47800 -109237 296990 10860172 10349307 1461502 -592210 11218599 8066100 809487 1714720 241000 10349307 8547272 36963 529865 1048000 8066100 0.27130 0.66390 0.06480 0 0 464466 464466 23001415 10074644 12926771 4492920 3225883 1267037 1385408 1038030 347378 15005652 DEPOSITS 39250 RIGHT OF USE ASSETS 3304844 3344094 LEASE LIABILITIES 3366955 3366955 X 10331127 1163690 344071 1507761 8823366 97149 97149 8920515 10051896 344071 344071 9707825 97149 97149 9804974 PART V, LINE 4: TO PROVIDE A STABLE FLOW OF RESOURCES FOR CURRENT OPERATIONS. PART X, LINE 2: THE OPERA QUALIFIES AS A CHARITABLE ORGANIZATION AS DEFINED BY INTERNAL REVENUE CODE SECTION 501(C)(3) AND, ACCORDINGLY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(A). HOWEVER, THE OPERA IS SUBJECT TO INCOME TAX ON UNRELATED BUSINESS INCOME. FOR THE YEAR ENDED MAY 31, 2024, THE OPERA INCURRED NO INCOME TAX EXPENSE. IT IS THE OPERA'S POLICY TO ACCOUNT FOR ANY UNCERTAINTIES IN INCOME TAX LAW IN ACCORDANCE WITH FASB ASC 740-10 ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. ASC 740-10 CLARIFIES THE ACCOUNTING FOR UNCERTAIN INCOME TAX POSITIONS AND REQUIRES THAT THE OPERA RECOGNIZE THE IMPACT OF SUCH A TAX POSITION IN ITS FINANCIAL STATEMENTS IF, UPON ULTIMATE SETTLEMENT, THAT POSITION IS MORE-LIKELY-THAN-NOT TO BE SUSTAINED. MANAGEMENT HAS EVALUATED THE OPERA'S TAX POSITIONS AND CONCLUDED THAT THE OPERA HAS MAINTAINED ITS TAX-EXEMPT STATUS AND HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS. AS A RESULT, NO PROVISION OR LIABILITY FOR INCOME TAXES HAS BEEN INCLUDED IN THE FINANCIAL STATEMENTS. THE OPERA FILES A 990 RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 344,071. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 344,071. OPENING NIGHT GALA 201162 201162 33378 73932 9902 47099 COURTYARD DINNERS 116834 116834 41080 12493 21499 4047 5 215248 215248 8889 85611 6141 533244 533244 83347 172036 31401 57287 344071 189173 1 FINANCIAL SCHOLARSHIPS 9 14000 X X X X X 0 0 0 0 0 0 0 0 0 RICHARD RUSSELL GENERAL DIRECTOR 285022 0 0 0 0 0 0 0 9818 0 294840 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B A FULL COPY OF FORM 990 IS PROVIDED TO THE FINANCE COMMITTEE FOR THEIR REVIEW AND COMMENT. SUBSEQUENTLY, A FULL COPY OF FORM 990 IS THEN PROVIDED TO ALL MEMBERS OF THE BOARD, PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REQUIRES ALL POTENTIAL CONFLICTS OF INTEREST TO BE REPORTED TO A SUPERVISOR AND/OR TO THE EXECUTIVE DIRECTOR. THE ORGANIZATION REQUIRES CONFLICTS OF INTEREST TO BE AVOIDED OTHER THAN TO THE EXTENT THE EXECUTIVE DIRECTOR HAS PROVIDED THE EMPLOYEE WITH A WRITTEN EXEMPTION. THE BOARD OF TRUSTEES ARE ASKED TO DISCLOSE ANY CONFLICTS OF INTEREST AT THEIR ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION ENGAGES A HUMAN RESOURCE COMMITTEE WHICH FUNCTIONS AS A COMPENSATION COMMITTEE WHICH REVIEWS INDUSTRY COMPENSATION SURVEYS, REVIEWS AND APPROVES OPERA'S ANNUAL BUDGET AND REQUIRES RATIFICATION BY THE BOARD OF TRUSTEES FOR ARTISTIC AND EXECUTIVE DIRECTORS. ARTISTIC AND EXECUTIVE DIRECTORS ARE RESPONSIBLE FOR ALL OTHER PAID EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST OR AT WWW.GUIDESTAR.ORG, WWW.CHARITYNAVIGATOR.ORG, AND WWW.THEGIVINGPARTNER.ORG. FORM 990, PART XII, LINE 2C THE PROCESS IS UNCHANGED FROM THE PRIOR YEAR.