The Minnesota Opera (EIN 410946789) - 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

1963

Legal Domicile

Principal Officer

Ryan Taylor

Phone

6123429551

Tax Period

2024-07-01 to 2025-06-30

The Minnesota Opera, founded in 1963, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $10.5M in total revenue in fiscal year 2024. Revenue fell 23% from the prior year — a significant decline worth monitoring. Net assets of $40.9M represent 47 months of operating reserves.

Mission

The Opera was organized for charitable, artistic, and educational purposes.

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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 $7,665,565

Program Service Revenue $2,210,325

Investment Income $784,548

Other Revenue $-131,347

TOTAL REVENUE $10,529,091

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,245,565

Fundraising Expenses $1,394,313

Program Expenses $8,148,638

Other Expenses $4,268,616

TOTAL EXPENSES $11,557,181

Year-over-Year Comparison

	2024	2023	Change
Revenue	$10,529,091	$13,746,744	-0.2%
Expenses	$11,557,181	$12,624,503	-0.1%
Net Income	$-1,028,090	$1,122,241	-1.9%

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

281

Volunteers

103

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

$416,881

Total Directors

$275,851

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Mark Gordon	Chair	4.00	Officer Director	$0	$0	$0
James Powell	Vice Chair	4.00	Officer Director	$0	$0	$0
Rachelle McCord	Treasurer	4.00	Officer Director	$0	$0	$0
Roma Calatayud-Stocks	Secretary	4.00	Officer Director	$0	$0	$0
Joelle Allen	Board Member	2.50	Director	$0	$0	$0
Meg Blake	Board Member	2.50	Director	$0	$0	$0
Kevin Armstrong	Board Member	2.50	Director	$0	$0	$0
Gayle Fuguitt	Board Member	2.50	Director	$0	$0	$0
Judith Garcia Galiana	Board Member	2.50	Director	$0	$0	$0
Christopher Hermann	Board Member	2.50	Director	$0	$0	$0
Dorothy J Horns MD	Board Member	2.50	Director	$0	$0	$0
Amy Hoffman	Board Member	2.50	Director	$0	$0	$0
Philip Isaacson	Board Member	2.50	Director	$0	$0	$0
Anne Kokayeff MD	Board Member	2.50	Director	$0	$0	$0
Deborah Jiang-Stein	Board Member	2.50	Director	$0	$0	$0
Natalie Volin Lehr	Board Member	2.50	Director	$0	$0	$0
Jeninne McGee	Board Member	2.50	Director	$0	$0	$0
Fayneese Miller PhD	Board Member	2.50	Director	$0	$0	$0
Jodi Mooney	Board Member	2.50	Director	$0	$0	$0
Ben Ollendick	Board Member	2.50	Director	$0	$0	$0
Kay Ness	Board Member	2.50	Director	$0	$0	$0
Ivonne Chand O'Neal	Board Member	2.50	Director	$0	$0	$0
Elizabeth Redleaf	Board Member until March	2.50	Director	$0	$0	$0
Bart Reed	Board Member	2.50	Director	$0	$0	$0
Criss Ross	Board Member	2.50	Director	$0	$0	$0
Kimberly Slay	Board Member	2.50	Director	$0	$0	$0
Mary Schrock	Board Member	2.50	Director	$0	$0	$0
Ti Chang Taylor	Board Member	2.50	Director	$0	$0	$0
Emily Tremblay	Board Member	2.50	Director	$0	$0	$0
Missy Staples Thompson	Board Member	2.50	Director	$0	$0	$0
Paul Wilson	Board Member	2.50	Director	$0	$0	$0
Jonathan Vessey	Board Member	2.50	Director	$0	$0	$0
Ryan Taylor	President & General Director	35.00	Officer Director	$256,985	$18,866	$275,851
Janelle Erickson	VP, Finance	40.00	Officer	$126,101	$14,929	$141,030
Karen Quisenberry	VP, Production	40.00	Highest	$120,431	$13,429	$133,860
Lani Willis	VP, Advancement	40.00	Highest	$175,343	$5,343	$180,686
Darius Gillard	VP, Impact	40.00	Highest	$104,424	$11,066	$115,490

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	$10,529,091	$11,557,181	$42,543,170	$-1,028,090
2024	$13,746,744	$12,624,503	$41,718,702	$1,122,241
2023	$16,686,441	$13,064,521	$38,129,210	$3,621,920
2022	$16,099,693	$10,837,123	$36,038,130	$5,262,570
2021	$9,963,166	$8,098,577	$32,670,274	$1,864,589
2020	$7,409,847	$12,169,363	$28,684,832	$-4,759,516
2019	$21,274,229	$12,846,346	$34,277,908	$8,427,883
2018	$11,085,591	$13,072,085	$25,127,586	$-1,986,494

The Minnesota Opera