CEDAR RAPIDS OPERA THEATRE

EIN: 421476568 501(c)(3) Arts, Culture & Humanities

CEDAR RAPIDS, IA

Total Revenue
$450,651
Total Expenses
$481,201
Total Assets
$101,138
Net Assets
$56,580
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1998
Legal Domicile
IA
Principal Officer
JONI WALLACE
Phone
3193657401
Tax Period
2024-09-01 to 2025-08-31

CEDAR RAPIDS OPERA THEATRE, founded in 1998, is a small nonprofit in the Arts, Culture & Humanities sector that reported $451K in total revenue in fiscal year 2024. Revenue fell 23% from the prior year — a significant decline worth monitoring.

Mission

THE MISSION OF THE CEDAR RAPIDS OPERA THEATRE IS TO ADVANCE OPERA AS A VITAL, LIVING AMERICAN ART FORM AND TO DEVELOP THE ARTISTS WHO CREATE IT, AS WELL AS THE AUDIENCE THAT APPRECIATES AND SUPPORTS IT.

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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 $339,975
Program Service Revenue $83,925
Investment Income $3,168
Other Revenue $23,583
TOTAL REVENUE $450,651

Expense Breakdown

Grants Paid $0
Salaries & Benefits $146,133
Fundraising Expenses $0
Program Expenses $439,701
Other Expenses $335,068
TOTAL EXPENSES $481,201

Year-over-Year Comparison

2024 2023 Change
Revenue $450,651 $588,775 -0.2%
Expenses $481,201 $656,975 -0.3%
Net Income $-30,550 $-68,200 -0.6%
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

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Liquidity & Cash Position

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Governance

Voting Members
15
Independent Members
15
Employees
2
Volunteers
36

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
4
$1,000
Total Directors
15
$106,262
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JONI WALLACE PRESIDENT 2.00
Officer Director
$0 $0 $0
ABIGAIL RETHWISCH VICE PRESIDE 2.00
Officer Director
$1,000 $0 $1,000
SCOT BROWN TREASURER 8.00
Officer Director
$0 $0 $0
VIRGINIA MICHALICEK SECRETARY 2.00
Officer Director
$0 $0 $0
DAVID CAVES PAST PRESIDE 2.00
Director
$0 $0 $0
MARTHA BROWN BOARD MEMBER 1.00
Director
$0 $0 $0
DAVID CHADIMA BOARD MEMBER 1.00
Director
$0 $0 $0
ADAM KAEFRING BOARD MEMBER 1.00
Director
$0 $0 $0
TROY REINEKE BOARD MEMBER 1.00
Director
$0 $0 $0
CECILIA ROKUSEK BOARD MEMBER 1.00
Director
$0 $0 $0
CHAD SONKA BOARD MEMBER 1.00
Director
$1,500 $0 $1,500
DAVID SWANEY BOARD MEMBER 1.00
Director
$0 $0 $0
MIKE THOME BOARD MEMBER 1.00
Director
$0 $0 $0
DANIEL KLEINKNECHT EX OFFCIO BO 8.00
Director
$37,672 $0 $37,672
THADDEUS ENNEN EX OFFICIO B 40.00
Director
$66,090 $0 $66,090
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 $450,651 $481,201 $101,138 $-30,550
2024 $588,775 $656,975 $149,130 $-68,200
2023 $491,555 $464,955 $457,917 $26,600
2022 $386,856 $384,916 $166,372 $1,940
2021 $305,349 $184,584 $144,760 $120,765
2020 $338,076 $295,521 $26,114 $42,555
2019 $390,976 $344,947 $20,085 $46,029
2018 $432,785 $486,774 $47,689 $-53,989
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