Sarasota Opera Association Inc

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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

1961

Legal Domicile

Phone

9413668450

Tax Period

2024-06-01 to 2025-05-31

Sarasota Opera Association Inc, founded in 1961, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $16.3M in total revenue in fiscal year 2024. Revenue surged 83% from the prior year, signaling strong growth momentum. The organization ran a surplus of $5.8M, a strong 35% operating margin.

Mission

Sarasota Opera produces impassioned opera performances true to the vision of the composer, to entertain, enrich, educate, and inspire a life-long love of opera in our diverse and growing communities.

Program Service Accomplishments

Program 1

Expenses: $7,830,337 Revenue: $3,917,654

In the Fall of 2024, the Opera presented two performances of Giuseppe Verdi's music to nearly sold out houses, while our Youth Opera program, with it's growing participation, presented two...

In the Fall of 2024, the Opera presented two performances of Giuseppe Verdi's music to nearly sold out houses, while our Youth Opera program, with it's growing participation, presented two performances of The Hobbit. The Winter Festival consisted of thirty-three performances, two more than the previous year. Four different operas were presented in front of over 28,000 patrons. In addition to these live main stage performances, the Opera continued its presentation of classic and classical HD movies. Community outreach events, in-school programs and teacher workshops continued to expand. The Opera's two guild organizations are growing and creating additional fundraising events and activities.

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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 (2024)

Revenue Breakdown

Contributions & Grants $11,640,944

Program Service Revenue $3,617,865

Investment Income $703,610

Other Revenue $342,477

TOTAL REVENUE $16,304,896

Expense Breakdown

Grants Paid $15,000

Salaries & Benefits $5,846,626

Fundraising Expenses $760,099

Program Expenses $7,830,337

Other Expenses $4,693,242

TOTAL EXPENSES $10,554,868

Year-over-Year Comparison

	2024	2023	Change
Revenue	$16,304,896	$8,920,515	+0.8%
Expenses	$10,554,868	$9,804,974	+0.1%
Net Income	$5,750,028	$-884,459	-7.5%

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

144

Volunteers

165

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

$463,220

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ARTHUR SICILIANO	CHAIR	5.0	Officer Director	$0	$0	$0
KATHERINE BENOIT	VICE CHAIR	5.0	Officer Director	$0	$0	$0
RON ARCHBOLD	TREASURER	5.0	Officer Director	$0	$0	$0
STEVE SABATO	SECRETARY	5.0	Officer Director	$0	$0	$0
Alastair Hunter-Henderson	TRUSTEE	2.0	Director	$0	$0	$0
CAROL ENGLISH	TRUSTEE	2.0	Director	$0	$0	$0
DAVID CHAIFETZ	TRUSTEE	2.0	Director	$0	$0	$0
David L Bialosky	TRUSTEE	2.0	Director	$0	$0	$0
DONALD J WORTHINGTON	TRUSTEE	2.0	Director	$0	$0	$0
J SUMNER BAGBY	TRUSTEE	2.0	Director	$0	$0	$0
JANET STERN SOLOMON	TRUSTEE	2.0	Director	$0	$0	$0
JEFF TROIANO	TRUSTEE	2.0	Director	$0	$0	$0
JOHN F SUHRE	TRUSTEE	2.0	Director	$0	$0	$0
Joseph Mallof	TRUSTEE	2.0	Director	$0	$0	$0
MARY J MITCHELL	TRUSTEE	2.0	Director	$0	$0	$0
MICHAL WADSWORTH	TRUSTEE	2.0	Director	$0	$0	$0
Patricia Dodge	TRUSTEE	2.0	Director	$0	$0	$0
PAUL DELAURO	TRUSTEE	2.0	Director	$0	$0	$0
RICHARD DEGENNARO	TRUSTEE	2.0	Director	$0	$0	$0
ROSANNE MARTORELLA	TRUSTEE	2.0	Director	$0	$0	$0
Sue Neumann	TRUSTEE	2.0	Director	$0	$0	$0
SUSAN K STRAUS	TRUSTEE	2.0	Director	$0	$0	$0
SYBLE DI GIROLAMO	TRUSTEE	2.0	Director	$0	$0	$0
Tamara Jacobs	TRUSTEE	2.0	Director	$0	$0	$0
Thomas Garden	TRUSTEE	2.0	Director	$0	$0	$0
TOBY SIEGEL	TRUSTEE	2.0	Director	$0	$0	$0
ULYSSES BRUALDI	TRUSTEE	2.0	Director	$0	$0	$0
WILLIAM D TOMPKINS	TRUSTEE	2.0	Director	$0	$0	$0
KENNETH TARASI	DIRECTOR OF FINANCE	50.0	Officer	$117,070	$10,343	$127,413
RICHARD RUSSELL	GENERAL DIRECTOR	50.0	Officer	$325,139	$10,668	$335,807
VICTOR DERENZI	TRUSTEE	35.0	Highest	$0	$0	$0

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
2025	$16,304,896	$10,554,868	$36,969,853	$5,750,028
2024	$8,920,515	$9,804,974	$30,963,445	$-884,459
2023	$7,635,719	$9,783,004	$28,294,534	$-2,147,285
2022	$10,657,672	$9,110,586	$28,856,599	$1,547,086
2021	$6,481,529	$6,067,843	$28,037,945	$413,686
2020	$8,229,528	$9,515,676	$26,888,920	$-1,286,148
2019	$8,208,524	$9,473,840	$26,510,657	$-1,265,316
2018	$7,441,604	$9,370,889	$27,524,752	$-1,929,285