GREATER LITCHFIELD OPERA HOUSE ASSN

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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

2007

Principal Officer

ART ELLSON

Phone

3205350829

Tax Period

2024-01-01 to 2024-12-31

GREATER LITCHFIELD OPERA HOUSE ASSN, founded in 2007, is a small nonprofit in the Arts, Culture & Humanities sector that reported $164K in total revenue in fiscal year 2024. Revenue surged 147% from the prior year, signaling strong growth momentum. The organization ran a surplus of $116K, a strong 71% operating margin.

Mission

TO MAINTAIN AND IMPROVE THE OPERA HOUSE AND CONTACT CURRENT AND PROSPECTIVE DONORS.

Program Service Accomplishments

Program 1

Expenses: $46,877 Revenue: $24,344

TO MAINTAIN AND IMPROVE THE OPERA HOUSE AND CONTACT CURRENT AND PROSPECTIVE DONORS.

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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 $141,053

Program Service Revenue $22,354

Investment Income $10

Other Revenue $605

TOTAL REVENUE $164,022

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $46,877

Other Expenses $47,852

TOTAL EXPENSES $47,852

Year-over-Year Comparison

	2024	2023	Change
Revenue	$164,022	$66,341	+1.5%
Expenses	$47,852	$60,157	-0.2%
Net Income	$116,170	$6,184	+17.8%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PAM DILLE	BOARD MEMBER	0.02	Director	$0	$0	$0
REBECCA DODSON	BOARD MEMBER	0.01	Director	$0	$0	$0
ART ELLSON	PRESIDENT	0.04	Officer Director	$0	$0	$0
KEVIN HOVEY	VICE PRESIDE	0.02	Officer Director	$0	$0	$0
CONNIE LIES	SECRETARY	0.15	Officer Director	$0	$0	$0
ROSE MORTIMER	TREASURER	0.07	Officer Director	$0	$0	$0
KAREN URDAHL	RECORDING SE	0.12	Officer Director	$0	$0	$0
MARY WAREDECKE	PRODUCTION	0.01	Director	$0	$0	$0
CAROLE WENDT	BOARD MEMBER	0.01	Director	$0	$0	$0
JEAN HANSON	VICE PRESIDE	0.01		$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	$164,022	$47,852	$732,915	$116,170
2023	$66,341	$60,157	$616,121	$6,184
2022	$80,635	$45,918	$609,007	$34,717
2021	$100,835	$50,597	$570,637	$50,238
2020	$131,133	$38,812	$525,364	$92,321