NORTH CAROLINA OPERA

EIN: 311486222 501(c)(3) Arts, Culture & Humanities

RALEIGH, NC

Total Revenue
$1,579,573
Total Expenses
$1,790,759
Total Assets
$564,978
Net Assets
$332,158
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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
2010
Legal Domicile
NC
Principal Officer
ERIC MITCHKO
Phone
9197923851
Tax Period
2024-07-01 to 2025-06-30

NORTH CAROLINA OPERA, founded in 2010, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.6M in total revenue in fiscal year 2024. Expenses of $1.8M exceeded revenue, resulting in a 13% operating deficit.

Mission

THE MISSION OF NORTH CAROLINA OPERA IS TO ENHANCE THE CULTURAL LIFE IN THE TRIANGLE BY PRESENTING THE HIGHEST POSSIBLE QUALITY PROFESSIONAL OPERA PERFORMANCES, DEVELOPING AND INCREASING AN APPRECIATION OF THE OPERA ART FORM IN THE AREA, AND PROVIDING LOCAL ARTISTS WITH THE OPPORTUNITY TO DEVELOP THEIR TALENT.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $896,767
Program Service Revenue $499,301
Investment Income $10,108
Other Revenue $173,397
TOTAL REVENUE $1,579,573

Expense Breakdown

Grants Paid $0
Salaries & Benefits $430,949
Fundraising Expenses $180,911
Program Expenses $1,455,208
Other Expenses $1,359,810
TOTAL EXPENSES $1,790,759

Year-over-Year Comparison

2024 2023 Change
Revenue $1,579,573 $1,516,808 +0.0%
Expenses $1,790,759 $1,558,014 +0.1%
Net Income $-211,186 $-41,206 +4.1%
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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Governance

Voting Members
24
Independent Members
24
Employees
7
Volunteers
24

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
5
$146,179
Total Directors
23
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
NANCY HABLUTZEL CHAIR 2.00
Officer Director
$0 $0 $0
BRIGETTE WILDS VICE CHAIR 2.00
Director
$0 $0 $0
JOHN LUNSFORD TREASURER 2.00
Officer Director
$0 $0 $0
CARL NOLD SECRETARY 2.00
Officer Director
$0 $0 $0
JOEL ADAMS BOARD MEMBER 1.00
Director
$0 $0 $0
AMANDA BAMBRICK BOARD MEMBER 1.00
Director
$0 $0 $0
YVONNE BRYANT BOARD MEMBER 1.00
Director
$0 $0 $0
KELVIN CURRIE BOARD MEMBER 1.00
Director
$0 $0 $0
BRYAN GILLIAM BOARD MEMBER 1.00
Director
$0 $0 $0
JAMES GULICK BOARD MEMBER 1.00
Director
$0 $0 $0
DOUGLAS HOLBROOK BOARD MEMBER 1.00
Director
$0 $0 $0
VALERIE JOHNSON BOARD MEMBER 1.00
Director
$0 $0 $0
RALPH ROBERSON BOARD MEMBER 1.00
Director
$0 $0 $0
BILL RUSTIN BOARD MEMBER 1.00
Director
$0 $0 $0
RICHARD SARLES BOARD MEMBER 1.00
Director
$0 $0 $0
NERRE SHURIAH BOARD MEMBER 1.00
Director
$0 $0 $0
CATHY STUART BOARD MEMBER 1.00
Director
$0 $0 $0
SHOHREH TAAVONI BOARD MEMBER 1.00
Director
$0 $0 $0
JIM HARGROVE BOARD MEMBER 2.00
Officer Director
$0 $0 $0
JEAN WOZENCRAFT-ORNELLAS BOARD MEMBER 1.00
Director
$0 $0 $0
ROSEMARIE SWEENEY BOARD MEMBER 1.00
Director
$0 $0 $0
PAUL FOMBERG BOARD MEMBER 1.00
Director
$0 $0 $0
PATRICIA MCWATERS BOARD MEMBER 1.00
Director
$0 $0 $0
ERIC MITCHKO GENERAL DIRECTOR 40.00
Officer
$128,930 $17,249 $146,179
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 $1,579,573 $1,790,755 $564,978 $-211,182
2025 $1,579,573 $1,790,759 $564,978 $-211,186
2024 $1,516,808 $1,558,014 $712,286 $-41,206
2023 $1,427,583 $1,569,951 $762,869 $-142,368
2022 $2,021,484 $1,548,686 $892,706 $472,798
2021 $583,965 $523,043 $458,261 $60,922
2020 $944,623 $944,559 $328,799 $64
2019 $1,461,491 $1,211,578 $360,672 $249,913
2018 $1,282,817 $1,394,422 $99,545 $-111,605
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