Heartbeat Opera Ltd (EIN 474122815) - 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

2015

Legal Domicile

Principal Officer

Jacob Ashworth

Phone

6462466307

Tax Period

2024-07-01 to 2025-06-30

Heartbeat Opera Ltd, founded in 2015, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.0M in total revenue in fiscal year 2024. Revenue grew 20% year-over-year, indicating healthy expansion. Expenses of $1.1M exceeded revenue, resulting in a 14% operating deficit.

Mission

Grounded in the belief that excellent opera making should build community and radiate beauty, Heartbeat Opera creates incisive adaptations, revelatory arrangements of classics, and interdisciplinary collaboration. We reckon with the harmful aspects of opera's past and pioneer an equitable and inclusive future for our art form, centered in love.

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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 $835,298

Program Service Revenue $173,387

Investment Income $0

Other Revenue $968

TOTAL REVENUE $1,009,653

Expense Breakdown

Grants Paid $0

Salaries & Benefits $570,736

Fundraising Expenses $119,223

Program Expenses $936,225

Other Expenses $575,809

TOTAL EXPENSES $1,146,545

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,009,653	$842,777	+0.2%
Expenses	$1,146,545	$913,424	+0.3%
Net Income	$-136,892	$-70,647	+0.9%

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

Volunteers

N/A

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

$78,200

Total Directors

$78,200

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jacob Ashworth	Artistic Dir.	40.00	Officer Director	$78,200	$0	$78,200
Therese Esperdy	Board Chair	3.00	Officer Director	$0	$0	$0
Robert Fitzpatrick	Board member	2.00	Director	$0	$0	$0
Sonja Berggren	Board member	2.00	Director	$0	$0	$0
Stephen Foster	Board member	2.00	Director	$0	$0	$0
Louise Proske	Board member	2.00	Director	$0	$0	$0
Ethan Heard	Board member	2.00	Director	$0	$0	$0
Liz Diamond	Board member	2.00	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
2025	$1,009,653	$1,146,545	$324,518	$-136,892
2024	$842,777	$913,424	$348,278	$-70,647
2023	$657,521	$735,162	$418,934	$-77,641
2022	$977,495	$890,346	$491,262	$87,149
2021	$613,627	$433,984	$440,241	$179,643
2020	$630,570	$514,056	$214,990	$116,514
2019	$334,480	$301,829	$101,318	$32,651
2018	$248,125	$233,095	$75,068	$15,030

Heartbeat Opera Ltd