CHICAGO OPERA THEATER (EIN 237354963) - 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

1973

Legal Domicile

Phone

3127048414

Tax Period

2023-09-01 to 2024-08-31

CHICAGO OPERA THEATER, founded in 1973, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.1M in total revenue in fiscal year 2023. Revenue decreased 18% compared to the prior year. Expenses of $2.7M exceeded revenue, resulting in a 29% operating deficit.

Mission

CHICAGO OPERA THEATER EXPANDS THE TRADITION OF OPERA AS A LIVING ART FORM BY ENGAGING LOVERS OF MUSIC AND STORYTELLING THROUGH INNOVATIVE EXPERIENCES, PREDOMINANTLY OF NEW AND RARELY PERFORMED WORKS.

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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 $1,845,221

Program Service Revenue $247,971

Investment Income $6,898

Other Revenue $26,214

TOTAL REVENUE $2,126,304

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,111,192

Fundraising Expenses $315,432

Program Expenses $2,068,724

Other Expenses $1,630,867

TOTAL EXPENSES $2,742,059

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,126,304	$2,599,908	-0.2%
Expenses	$2,742,059	$3,465,399	-0.2%
Net Income	$-615,755	$-865,491	-0.3%

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

198

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

$72,115

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LAWRENCE EDELSON	GEN. DIRECTOR	40.00	Officer	$72,115	$0	$72,115
ASHLEY MAGNUS	FORMER GENERAL DIRECTOR	40.00		$36,154	$0	$36,154
ALISSA ANDRASKI	Director	1.00	Director	$0	$0	$0
ALLEN HEINEMANN	Secretary	1.00	Officer Director	$0	$0	$0
DAVID MCNEEL	Director	1.00	Director	$0	$0	$0
DOROTHY OSBORN	Director	1.00	Director	$0	$0	$0
HENRY FOGEL	IMMD. PAST PRES	1.00	Officer Director	$0	$0	$0
JAMES MCCORMICK	Director	1.00	Director	$0	$0	$0
KATERRI KELLY	Director	1.00	Director	$0	$0	$0
MARIA LAGIOS	Director	1.00	Director	$0	$0	$0
MARY LUNZ HOUSTON	Director	1.00	Director	$0	$0	$0
MERRILL BLAU	Director	1.00	Director	$0	$0	$0
MICHAEL HANSEN	Director	1.00	Director	$0	$0	$0
PAUL FREEHLING	Director	1.00	Director	$0	$0	$0
PAVITRA RAMACHANDRAN	Director	1.00	Director	$0	$0	$0
PETER ASCOLI	Director	1.00	Director	$0	$0	$0
ROBERT SHAPIRO	Director	1.00	Director	$0	$0	$0
RON BAUER	Director	1.00	Director	$0	$0	$0
STEPHANIE HART	Director	1.00	Director	$0	$0	$0
SUSAN IRION	President	1.00	Officer Director	$0	$0	$0
SUSAN NOEL	Director	1.00	Director	$0	$0	$0
VIRGINIA TOBIASON	Director	1.00	Director	$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
2024	No data	No data	No data	No data
2024	$2,126,304	$2,742,059	$1,516,738	$-615,755
2023	$2,599,908	$3,465,399	$2,142,383	$-865,491
2023	$2,689,527	$3,448,776	$2,184,233	$-759,249
2022	$4,145,281	$3,073,362	$3,231,505	$1,071,919
2021	$2,733,025	$2,378,350	$1,804,521	$354,675
2020	$3,322,408	$2,519,387	$1,662,734	$803,021
2019	$2,598,863	$2,898,716	$665,026	$-299,853

CHICAGO OPERA THEATER