KENTUCKY OPERA ASSOCIATION INC (EIN 616013111) - 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

1952

Legal Domicile

Principal Officer

BARBARA LYNNE JAMISON

Phone

5025844500

Tax Period

2023-07-01 to 2024-06-30

KENTUCKY OPERA ASSOCIATION INC, founded in 1952, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.7M in total revenue in fiscal year 2023. Revenue fell 42% from the prior year — a significant decline worth monitoring. Expenses of $2.6M exceeded revenue, resulting in a 54% operating deficit.

Mission

KENTUCKY OPERA SPARKS DISCOVERY, JOY, AND CONNECTION AMONG COMMUNITIES THROUGHOUT THE COMMONWEALTH WITH THE SHARED EXPERIENCE OF OPERA.

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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 (2023)

Revenue Breakdown

Contributions & Grants $962,345

Program Service Revenue $315,908

Investment Income $426,793

Other Revenue $-606

TOTAL REVENUE $1,704,440

Expense Breakdown

Grants Paid $0

Salaries & Benefits $980,479

Fundraising Expenses $226,139

Program Expenses $1,626,196

Other Expenses $1,641,979

TOTAL EXPENSES $2,622,458

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,704,440	$2,935,192	-0.4%
Expenses	$2,622,458	$2,611,849	+0.0%
Net Income	$-918,018	$323,343	-3.8%

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

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

$153,356

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MATTHEW E HAMEL	CHAIR	4.00	Officer Director	$0	$0	$0
THOMAS P O'BRIEN III	SENIOR VICE CHAIR	3.00	Officer Director	$0	$0	$0
ANITA M STREETER	IMMEDIATE PAST CHAIR	3.00	Officer Director	$0	$0	$0
MATTHEW WILLIAMS	SECRETARY	2.00	Officer Director	$0	$0	$0
ERIC D SCOTT	TREASURER	2.00	Officer Director	$0	$0	$0
ANNE-MARIE BLANCQUAERT DVM	TRUSTEE	1.00	Director	$0	$0	$0
ROLANDAS T BYRD	TRUSTEE	1.00	Director	$0	$0	$0
CHARLES CASH	TRUSTEE	1.00	Director	$0	$0	$0
JOHN J DAVIS III	TRUSTEE	1.00	Director	$0	$0	$0
TRACY E DAVIS	TRUSTEE	1.00	Director	$0	$0	$0
BENJAMIN J EVANS	TRUSTEE	1.00	Director	$0	$0	$0
J TODD FLOWERS	TRUSTEE	1.00	Director	$0	$0	$0
SPENCER E HARPER III	TRUSTEE	1.00	Director	$0	$0	$0
THOMAS JAMES III MD	TRUSTEE	1.00	Director	$0	$0	$0
DANAIL KELISAKIEV	TRUSTEE	1.00	Director	$0	$0	$0
HENRY KUEHN	TRUSTEE	1.00	Director	$0	$0	$0
VON PURDY	TRUSTEE	1.00	Director	$0	$0	$0
ERNEST W WILLIAMS	TRUSTEE	1.00	Director	$0	$0	$0
BARBARA LYNNE JAMISON	GENERAL DIRECTOR/CEO	40.00	Officer	$133,649	$19,707	$153,356

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	No data	No data	No data	No data
2024	$1,704,440	$2,622,458	$5,629,355	$-918,018
2023	$2,935,192	$2,611,849	$6,048,772	$323,343
2022	$2,050,260	$2,133,621	$4,939,443	$-83,361
2022	$100,664	$91,766	$4,722,411	$8,898
2021	$1,798,931	$1,127,853	$5,122,729	$671,078
2020	$1,872,590	$2,401,113	$3,977,863	$-528,523
2019	$1,775,444	$2,206,832	$3,977,257	$-431,388
2018	$2,469,259	$2,242,811	$4,567,713	$226,448

KENTUCKY OPERA ASSOCIATION INC