OPERA SAN JOSE INCORPORATED

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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

1983

Legal Domicile

Principal Officer

SHAWNA LUCEY

Phone

4084374450

Tax Period

2024-07-01 to 2025-06-30

OPERA SAN JOSE INCORPORATED, founded in 1983, is a community nonprofit in the Arts, Culture & Humanities sector that reported $7.3M in total revenue in fiscal year 2024. Revenue surged 25% from the prior year, signaling strong growth momentum. Expenses of $6.3M left a modest 13% surplus.

Mission

TO PRODUCE EMOTIONALLY THRILLING ENTERTAINMENT THAT ENGAGES AND REFLECTS OUR DIVERSE SILICON VALLEY COMMUNITY WHILE DEVELOPING THE NEXT GENERATION OF OPERA TALENT.

Program Service Accomplishments

Program 1

Expenses: $4,637,614 Revenue: $1,838,163

IN FY25 OPERA SAN JOSE PRESENTED FOUR MAINSTAGE PRODUCTIONS, WITH SIX PERFORMANCES OF EACH OPERA, ROUGHLY 15,104 PEOPLE ATTENDING DURING THE SEASON. IN THE HEIMAN DIGITAL STUDIO, SHOWCASES OF THE...

IN FY25 OPERA SAN JOSE PRESENTED FOUR MAINSTAGE PRODUCTIONS, WITH SIX PERFORMANCES OF EACH OPERA, ROUGHLY 15,104 PEOPLE ATTENDING DURING THE SEASON. IN THE HEIMAN DIGITAL STUDIO, SHOWCASES OF THE RESIDENT ARTIST ARE LIVESTREAMED, A RECITAL AND BEHIND THE SCENES QUESTION AND ANSWER SESSIONS ARE STREAMED.

Program 2

Expenses: $81,206

COMMUNITY OUTREACH EVENTS INCLUDED FREE PUBLIC PERFORMANCES, INCLUDING "OPERA ON FIRST", LIBRARY PERFORMANCES AND "OPERA IN THE PARK", REACHING OVER 6,000 PEOPLE.

Program 3

Expenses: $17,164

YOUTH EDUCATION PREPARATION FOR A SINGER ACADEMY, BACKSTAGE TOURS, OPPORTUNITY FOR STUDENTS TO ATTEND FOUR MAINSTAGE PERFORMANCES WITH 1,180 STUDENTS ATTENDING.

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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 $5,160,910

Program Service Revenue $1,838,163

Investment Income $320,000

Other Revenue $595

TOTAL REVENUE $7,319,668

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,126,602

Fundraising Expenses $826,497

Program Expenses $4,735,984

Other Expenses $2,212,468

TOTAL EXPENSES $6,339,070

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,319,668	$5,849,294	+0.3%
Expenses	$6,339,070	$6,190,187	+0.0%
Net Income	$980,598	$-340,893	-3.9%

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

581

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

$377,868

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CATHY LAZARUS	PRESIDENT	1.00	Officer Director	$0	$0	$0
MICHAEL KALKSTEIN	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
JANE DECKER	SECRETARY	1.00	Officer Director	$0	$0	$0
LAWRENCE KERN	TREASURER	1.00	Officer Director	$0	$0	$0
MIMI CARLSON	DIRECTOR	1.00	Director	$0	$0	$0
GEORGE CROW	DIRECTOR	1.00	Director	$0	$0	$0
CHARLES F HANES	DIRECTOR	1.00	Director	$0	$0	$0
PROF JOHN HEINEKE	DIRECTOR	1.00	Director	$0	$0	$0
PEGGY HEIMAN	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER AR HSU	DIRECTOR	1.00	Director	$0	$0	$0
JEANNE MCCANN	DIRECTOR	1.00	Director	$0	$0	$0
PRAVESH MEHRA	DIRECTOR	1.00	Director	$0	$0	$0
GILLIAN MORAN	DIRECTOR	1.00	Director	$0	$0	$0
DR H ANDREA NEVES	DIRECTOR	1.00	Director	$0	$0	$0
JOYCE SCOTT	DIRECTOR	1.00	Director	$0	$0	$0
MARK CHAMBERS-BRAY	DIRECTOR	1.00	Director	$0	$0	$0
NILAB HESSABI	DIRECTOR	1.00	Director	$0	$0	$0
MATT BORNSKI	DIRECTOR	1.00	Director	$0	$0	$0
OCEANE LI	DIRECTOR	1.00	Director	$0	$0	$0
SHAWNA LUCEY	GENERAL DIRECTOR	50.00	Officer	$239,561	$41,121	$280,682
PAIGE SWEETIN	CHIEF OPERATING OFFICER	50.00	Officer	$89,114	$8,072	$97,186

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	$7,319,668	$6,339,070	$12,204,310	$980,598
2024	$5,849,294	$6,190,187	$11,074,563	$-340,893
2023	$5,896,573	$6,306,436	$11,574,079	$-409,863
2022	$5,708,046	$5,086,225	$12,036,831	$621,821
2021	$4,136,604	$2,691,316	$12,606,207	$1,445,288
2020	$4,520,860	$4,558,451	$8,719,212	$-37,591
2019	$4,082,423	$5,204,710	$8,516,453	$-1,122,287
2018	$6,202,155	$6,276,101	$9,402,280	$-73,946