GLIMMERGLASS OPERA THEATRE INC (EIN 161053970) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1975

Legal Domicile

Principal Officer

ROBERT AINSLEY

Phone

6075475704

Tax Period

2023-10-01 to 2024-09-30

GLIMMERGLASS OPERA THEATRE INC, founded in 1975, is a community nonprofit in the Arts, Culture & Humanities sector that reported $8.4M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $10.1M exceeded revenue, resulting in a 20% operating deficit.

Mission

PRODUCE NEW, LITTLE-KNOWN AND FAMILIAR OPERAS AND MUSICAL THEATER IN INNOVATIVE PRODUCTIONS; PROVIDE PROFESSIONAL TRAINING AND PERFORMANCE OPPORTUNITIES FOR EMERGING ARTISTS AND INTERNS; ENGAGE IMPORTANT ARTISTS WHO INSPIRE THE HIGHEST STANDARDS OF ACHIEVEMENT; INSPIRE DIALOGUE AROUND MEANINGFUL ISSUES OF THE DAY THROUGH SONG AND STORY; COLLABORATE WITH REGIONAL ORGANIZATIONS, SCHOOLS AND BUSINESSES TO ENHANCE LIFE IN CENTRAL NEW YORK.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $4,528,337

Program Service Revenue $2,268,134

Investment Income $1,045,245

Other Revenue $572,555

TOTAL REVENUE $8,414,271

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,669,050

Fundraising Expenses $1,202,097

Program Expenses $7,915,800

Other Expenses $3,441,511

TOTAL EXPENSES $10,110,561

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,414,271	$7,745,682	+0.1%
Expenses	$10,110,561	$10,812,701	-0.1%
Net Income	$-1,696,290	$-3,067,019	-0.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

334

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$443,197

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHERWIN M GOLDMAN	TRUSTEE	1.00	Director	$0	$0	$0
THOMAS SIMPSON	TRUSTEE/SECRETARY	2.00	Officer Director	$0	$0	$0
WENDY CURTIS	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL YOUNG	PRESIDENT/CHAIR	10.00	Officer Director	$0	$0	$0
PATRICIA CHADWICK	TRUSTEE	3.00	Director	$0	$0	$0
NELLIE GIPSON	TRUSTEE	1.00	Director	$0	$0	$0
ERNA MORGAN MCREYNOLDS	SECRETARY/VICE CHAIR	2.00	Officer Director	$0	$0	$0
JOHN RYLAND	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL SEKUS	TRUSTEE	3.00	Director	$0	$0	$0
JAMES L SEWARD	TRUSTEE	1.00	Director	$0	$0	$0
TED SNOWDON	TRUSTEE	1.00	Director	$0	$0	$0
KARA UNTERBERG	TRUSTEE	1.00	Director	$0	$0	$0
MARK VILLAMAR	TREASURER	4.00	Officer Director	$0	$0	$0
MARY-JO MERK	FOUNDING TRUSTEE	1.00	Director	$0	$0	$0
PETER DUCHIN	HONORARY CHAIRMAN	1.00	Director	$0	$0	$0
THOMAS C RAGAN	TRUSTEE	2.00	Director	$0	$0	$0
ANNE M CURTIS	TRUSTEE	1.00	Director	$0	$0	$0
ALLISON HILL-EDGAR	TRUSTEE	10.00	Director	$0	$0	$0
DEBRA VALENTINE	TRUSTEE	4.00	Director	$0	$0	$0
GEORGE BUDENBENDER	TRUSTEE	1.00	Director	$0	$0	$0
TIM LORD	TRUSTEE	1.00	Director	$0	$0	$0
EDWARD L TURNER	VICE CHAIRMAN	2.00	Officer	$0	$0	$0
ROBERT AINSLEY	ARTISTIC & GENERAL DIRECTO	30.00	Officer	$232,670	$8,825	$241,495
ANDREA LYONS	COO/EXECUTIVE DIRECTOR	40.00	Officer	$93,564	$14,439	$108,003
KAREN FLANAGAN	DIRECTOR OF FINANCE	40.00	Officer	$80,070	$13,629	$93,699
CARYN REEVES	DIRECTOR OF INSTITUTIONAL	40.00	Highest	$114,367	$13,972	$128,339

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$8,414,271	$10,110,561	$16,478,803	$-1,696,290
2023	$7,745,682	$10,812,701	$16,438,681	$-3,067,019
2022	$9,971,358	$10,503,765	$16,582,618	$-532,407
2021	$8,564,842	$6,905,527	$19,222,270	$1,659,315
2020	$5,976,370	$5,569,584	$15,882,838	$406,786
2019	$10,949,453	$9,734,145	$17,317,778	$1,215,308
2018	$9,571,429	$9,349,451	$15,729,104	$221,978

GLIMMERGLASS OPERA THEATRE INC