ARIZONA OPERA COMPANY (EIN 237169261) - 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

1971

Legal Domicile

Principal Officer

DAVID HEAP

Phone

6022667464

Tax Period

2023-07-01 to 2024-06-30

ARIZONA OPERA COMPANY, founded in 1971, is a community nonprofit in the Arts, Culture & Humanities sector that reported $6.7M in total revenue in fiscal year 2023. Revenue surged 20% from the prior year, signaling strong growth momentum. Expenses of $8.2M exceeded revenue, resulting in a 24% operating deficit.

Mission

ARIZONA OPERA ELEVATES THE TRANSFORMATIVE POWER OF STORYTELLING THROUGH MUSIC - CULTIVATING COMMUNITY AND STRENGTHENING A STATE AND PEOPLE AS ADVENTUROUS AND DIVERSE AS THE PLACE THEY CALL HOME.

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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 $4,791,605

Program Service Revenue $1,337,000

Investment Income $462,950

Other Revenue $58,547

TOTAL REVENUE $6,650,102

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,812,882

Fundraising Expenses $724,755

Program Expenses $5,744,207

Other Expenses $4,410,788

TOTAL EXPENSES $8,223,670

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,650,102	$5,527,418	+0.2%
Expenses	$8,223,670	$8,875,073	-0.1%
Net Income	$-1,573,568	$-3,347,655	-0.5%

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

485

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

$308,362

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SUSAN ESCO CHANDLER	DIRECTOR	2.00	Director	$0	$0	$0
JEAN S COOPER	DIRECTOR	2.00	Director	$0	$0	$0
ANDREA CRANE	DIRECTOR	2.00	Director	$0	$0	$0
RICHARD CREATH	DIRECTOR	2.00	Director	$0	$0	$0
BARRY FINGERHUT	DIRECTOR	2.00	Director	$0	$0	$0
NANCY FOSTER	DIRECTOR	2.00	Director	$0	$0	$0
ROSIE GARCIA	DIRECTOR	2.00	Director	$0	$0	$0
GARY GREENBAUM	DIRECTOR	2.00	Director	$0	$0	$0
ANN HAND	DIRECTOR	2.00	Director	$0	$0	$0
STEPHEN HARDY	DIRECTOR	2.00	Director	$0	$0	$0
GARY JACKSON	DIRECTOR	2.00	Director	$0	$0	$0
SHARON LANDIS	DIRECTOR	2.00	Director	$0	$0	$0
MIRANDA LUMER	DIRECTOR	2.00	Director	$0	$0	$0
JENNY AUGER MAW	DIRECTOR	2.00	Director	$0	$0	$0
SHERRY MIDDLEMAS	DIRECTOR	2.00	Director	$0	$0	$0
DR HERSCHEL ROSENZWEIG	DIRECTOR	2.00	Director	$0	$0	$0
JEANNETTE J SEGEL	DIRECTOR	2.00	Director	$0	$0	$0
COLONEL RET KIMBERLY SMITH	DIRECTOR	2.00	Director	$0	$0	$0
LINDA STAUBITZ	DIRECTOR	2.00	Director	$0	$0	$0
HEATHER M STRICKLAND	DIRECTOR	2.00	Director	$0	$0	$0
JENNY HOLSMAN TETREAULT	DIRECTOR	2.00	Director	$0	$0	$0
ROMA WITTCOFF	DIRECTOR	2.00	Director	$0	$0	$0
DR JUDITH G WOLF	DIRECTOR	2.00	Director	$0	$0	$0
DAVID HEAP	CHAIR	2.00	Officer Director	$0	$0	$0
KIMBERLY J KAUFFMAN	VICE CHAIR	2.00	Officer Director	$0	$0	$0
ERIK PETERSON	VICE CHAIR	2.00	Officer Director	$0	$0	$0
SCOTT STALLARD	TREASURER	2.00	Officer Director	$0	$0	$0
KAY MCDOUGALL	SECRETARY	2.00	Officer Director	$0	$0	$0
DR STEPHEN MUNK	IMMEDIATE PAST CHAIR	2.00	Officer Director	$0	$0	$0
JOEPH SPECTER	PRESIDENT & GENERAL DIRECTOR	45.00	Officer	$296,250	$12,112	$308,362
JOANN SERRA	DIRECTOR OF FINANCE, ADMINISTRATION AND HUMAN RESO	40.00	Highest	$122,396	$8,736	$131,132

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	No data	No data	No data	No data
2024	$6,650,102	$8,223,670	$16,278,411	$-1,573,568
2023	$5,527,418	$8,875,073	$17,923,049	$-3,347,655
2022	$12,029,280	$7,997,957	$13,623,494	$4,031,323
2021	$5,203,116	$4,295,525	$9,811,779	$907,591
2020	$6,725,476	$7,058,810	$8,418,890	$-333,334
2019	$9,313,582	$7,231,197	$8,142,535	$2,082,385
2018	$9,626,845	$7,315,726	$6,325,861	$2,311,119

ARIZONA OPERA COMPANY