PALM BEACH OPERA INC

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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

1962

Legal Domicile

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, ENRICHING THE LIVES OF THE COMMUNITIES IT SERVES WITH A DIVERSE OFFERING OF EDUCATIONAL PROGRAMS, AND TO TRAINING THE NEXT GENERATION OF OPERA STARS.

Program Service Accomplishments

Program 1

Expenses: $4,128,244 Revenue: $1,582,049

PBO'S CORE PROGRAMS ARE FULLY STAGED WORLD-CLASS OPERA PRODUCTIONS FEATURING INTERNATIONALLY ACCLAIMED SOLOISTS, CONDUCTORS, DIRECTORS, AND DESIGNERS, AS WELL AS A PROFESSIONAL ORCHESTRA, CHORUS, AND STAGE CREW. PBO ATTRACTS A DIVERSE AUDIENCE OF OVER 20,000 OPERA LOVERS AND MAKES A SIGNIFICANT CONTRIBUTION TO THE ECONOMIC HEALTH AND SOCIAL VITALITY OF PALM BEACH COUNTY. THIS YEAR, THE OPERA PRODUCED THREE MAIN STAGE OPERAS: ROMEO ET JULIETTE, LA TRAVIATA, AND THE MARRIAGE OF FIGARO. THE ANNUAL FUNDRAISING GALA FEATURED INTERNATIONALLY RENOWNED SOPRANO ANNA NETREBKO.

Program 2

Expenses: $551,701 Revenue: $63,695

PBO OFFERS THREE ARTIST TRAINING PROGRAMS. THE PBO STUDIO PROGRAM IS FREE TO HIGH SCHOOL STUDENTS WHO WISH TO RECEIVE TRAINING AND PREPARATION FOR A FUTURE COLLEGE DEGREE IN THE VOCAL ARTS...

PBO OFFERS THREE ARTIST TRAINING PROGRAMS. THE PBO STUDIO PROGRAM IS FREE TO HIGH SCHOOL STUDENTS WHO WISH TO RECEIVE TRAINING AND PREPARATION FOR A FUTURE COLLEGE DEGREE IN THE VOCAL ARTS. APPRENTICE ARTISTS ARE EMERGING POST-GRADUATE SINGERS WHO PERFORM IN THE COMPANY'S EDUCATION AND COMMUNITY ENGAGEMENT PROGRAMS (SEE BELOW), AND SING IN THE CHORUS THROUGHOUT THE SEASON TO GAIN STAGE EXPERIENCE. LAUFER YOUNG ARTISTS ARE MORE ADVANCED SINGERS WHO COVER LEAD ROLES AND SING SMALLER ROLES FOR THE MAINSTAGE PRODUCTIONS. SINGERS IN EACH PROGRAM PERFORM FREQUENT CONCERTS AND RECEIVE VOCAL, MUSICAL, DICTION, AND DRAMATIC TRAINING THROUGH MASTERCLASSES AND COACHING.

Program 3

Expenses: $157,548 Revenue: $43,669

PBO'S EDUCATION AND COMMUNITY ENGAGEMENT PROGRAMS ARE DELIVERED TO A BROAD SEGMENT OF THE COMMUNITY THROUGH FREE PRESENTATIONS AND ACTIVITIES DESIGNED TO BROADEN AWARENESS AND ENTHUSIASM FOR OPERA...

PBO'S EDUCATION AND COMMUNITY ENGAGEMENT PROGRAMS ARE DELIVERED TO A BROAD SEGMENT OF THE COMMUNITY THROUGH FREE PRESENTATIONS AND ACTIVITIES DESIGNED TO BROADEN AWARENESS AND ENTHUSIASM FOR OPERA, FOR PEOPLE OF ALL AGES. PROGRAMS SUCH AS CONCERTS IN THE CLASSROOM, STORYTIME SERIES, OPERA REHEARSAL 101, OPERA IMMERSION PROGRAM WITH THE BOYS & GIRLS CLUB, ANIMA, AND CONVERSATIONS SERIES PROVIDE A DEEPER APPRECIATION OF THE OPERA ART FORM TO MORE THAN 7,000 INDIVIDUALS ANNUALLY, INCLUDING OVER 6,000 LOCAL CHILDREN WHILE PROVIDING SUPPLEMENTARY EDUCATIONAL MATERIALS FOR EDUCATORS THAT FIT STATE ACADEMIC STANDARDS.

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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 $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

Governance

Voting Members

Independent Members

Employees

306

Volunteers

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

Total Directors

Key Employees

$173,520

Highest Compensated

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