PALM BEACH OPERA INC

EIN: 591060864 501(c)(3) Arts, Culture & Humanities

WEST PALM BEACH, FL

Total Revenue
$7,309,161
Total Expenses
$6,340,150
Total Assets
$9,526,361
Net Assets
$8,076,504
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1962
Legal Domicile
FL
Principal Officer
JAMES BARBATO
Phone
5618337888
Tax Period
2024-06-01 to 2025-05-31

PALM BEACH OPERA INC, founded in 1962, is a community nonprofit in the Arts, Culture & Humanities sector that reported $7.3M in total revenue in fiscal year 2024. Revenue surged 45% from the prior year, signaling strong growth momentum. Expenses of $6.3M left a modest 13% surplus.

Mission

PALM BEACH OPERA IS DEDICATED TO PRODUCING LIVE OPERA AT AN INTERNATIONAL STANDARD OF EXCELLENCE AND ENRICHING THE LIFE OF THE COMMUNITIES IT SERVES WITH A DIVERSE OFFERING OF EDUCATIONAL PROGRAMS, CONCERTS AND LECTURES.

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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 $4,966,936
Program Service Revenue $1,689,413
Investment Income $96,884
Other Revenue $555,928
TOTAL REVENUE $7,309,161

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,688,563
Fundraising Expenses $426,865
Program Expenses $4,837,493
Other Expenses $2,651,587
TOTAL EXPENSES $6,340,150

Year-over-Year Comparison

2024 2023 Change
Revenue $7,309,161 $5,042,467 +0.4%
Expenses $6,340,150 $6,432,630 0.0%
Net Income $969,011 $-1,390,163 -1.7%
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

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Governance

Voting Members
27
Independent Members
27
Employees
306
Volunteers
15

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
11
$0
Total Directors
15
$0
Key Employees
1
$173,520
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MR DAVID GENSER CHAIRMAN N/A
Officer
$0 $0 $0
JAMES BARBATO GENERAL DIRE N/A
Key Emp
$164,166 $9,354 $173,520
MR DENNIS K WILLIAMS PRESIDENT N/A
Officer
$0 $0 $0
MRS INGRID KOSOWSKY SECRETARY N/A
Officer
$0 $0 $0
MR DAVID BRODSKY TREASURER N/A
Officer
$0 $0 $0
MR WILLIAM G BROWN VICE PRESIDE N/A
Officer
$0 $0 $0
DR ROBERT DESNICK VICE PRESIDE N/A
Officer
$0 $0 $0
MR SANFORD FISHER VICE PRESIDE N/A
Officer
$0 $0 $0
MRS JUDITH KAUFMAN PHILANTHROPY N/A
Officer
$0 $0 $0
DR MARSHA LAUFER YOUNG ARTIST N/A
Officer
$0 $0 $0
MRS JACQUELINE MCCABE GOVERNANCE C N/A
Officer
$0 $0 $0
MRS ARI RIFKIN VICE PRESIDE N/A
Officer
$0 $0 $0
MR STEVE ACUNTO DIRECTOR N/A
Director
$0 $0 $0
MR SANFORD M BAKLOR DIRECTOR N/A
Director
$0 $0 $0
DR ROBERT BISCUP DIRECTOR N/A
Director
$0 $0 $0
MRS ERIKA FRANKE BROWN DIRECTOR N/A
Director
$0 $0 $0
MRS PATRICIA FALKENBERG DIRECTOR N/A
Director
$0 $0 $0
MRS ANN FROMER DIRECTOR N/A
Director
$0 $0 $0
MR CHARLES GOTTESMAN DIRECTOR N/A
Director
$0 $0 $0
MR PETER A HOFFMAN DIRECTOR N/A
Director
$0 $0 $0
MR ROBERT IOMMAZZO DIRECTOR N/A
Director
$0 $0 $0
MRS PAULETTE KOCH DIRECTOR N/A
Director
$0 $0 $0
MR TODD LAZENBY DIRECTOR N/A
Director
$0 $0 $0
DR PETER MCCOMBS DIRECTOR N/A
Director
$0 $0 $0
DR DONNA KESSELMAN RAGGIO DIRECTOR N/A
Director
$0 $0 $0
MR MARC S SOLOMON DIRECTOR N/A
Director
$0 $0 $0
MRS ANNE STERNLICHT DIRECTOR N/A
Director
$0 $0 $0
DAVID WALKER FORMER DIREC N/A
$213,182 $8,387 $221,569
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 $7,309,161 $6,340,150 $9,526,361 $969,011
2024 $5,042,467 $6,432,630 $8,896,968 $-1,390,163
2023 $4,224,318 $5,741,904 $10,212,309 $-1,517,586
2022 $9,924,286 $5,070,921 $12,939,353 $4,853,365
2021 $3,191,039 $4,222,819 $5,610,221 $-1,031,780
2020 $4,317,649 $5,197,552 $6,193,266 $-879,903
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