FINGER LAKES 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

2016

Legal Domicile

Principal Officer

BLISS OWEN

Phone

5854503880

Tax Period

2023-01-01 to 2023-12-31

FINGER LAKES OPERA INC, founded in 2016, is a small nonprofit in the Arts, Culture & Humanities sector that reported $541K in total revenue in fiscal year 2023. Revenue surged 76% from the prior year, signaling strong growth momentum. Expenses of $633K exceeded revenue, resulting in a 17% operating deficit.

Mission

TO CREATE AND PRODUCE PROFESSIONAL OPERA PRODUCTIONS AND PROGRAMS ON A NOT-FOR-PROFIT BASIS IN THE GREATER ROCHESTER & FINGER LAKES AREAS OF NEW YORK STATE. FLO IS COMMITTED TO CULTIVATING, PROMOTING, DEVELOPING, AND PROVIDING OPERATIC EXPERIENCES TO THE FINGER LAKES AREA ENCOMPASSING ONTARIO & MONROE COUNTIES.

Program Service Accomplishments

Program 1

Expenses: $530,328

FINGER LAKES OPERA, INC. (FLO) IS COMMITTED TO THE PROFESSIONAL CREATION AND PRODUCTION OF OPERA IN ROCHESTER AND THE FINGER LAKES REGION WITH A ROSTER OF MAINSTAGE AND EMERGING YOUNG ARTISTS DRAWN FROM DIVERSE REGIONS AND BACKGROUNDS. THROUGH ENGAGEMENT AND ACCESSIBILITY, FLO ADDS VALUE TO THE CULTURAL AND ECONOMIC LANDSCAPE OF THE COMMUNITY. FLO PRESENTS A TICKETED SUMMER FESTIVAL AS WELL AS ENGAGEMENT YEAR-ROUND.

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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 $416,423

Program Service Revenue $106,192

Investment Income $3

Other Revenue $18,671

TOTAL REVENUE $541,289

Expense Breakdown

Grants Paid $0

Salaries & Benefits $106,170

Fundraising Expenses $2,497

Program Expenses $530,328

Other Expenses $526,543

TOTAL EXPENSES $632,713

Year-over-Year Comparison

	2023	2022	Change
Revenue	$541,289	$307,269	+0.8%
Expenses	$632,713	$369,178	+0.7%
Net Income	$-91,424	$-61,909	+0.5%

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

$43,125

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ELIZABETH LONG	Executive Dir.	40.00	Officer	$43,125	$0	$43,125
ROSE-MARIE KLIPSTEIN	President	25.00	Officer Director	$0	$0	$0
PATRICIA CAREY	Treasurer	25.00	Officer Director	$0	$0	$0
MARION ROBINSON	Trustee	5.00	Director	$0	$0	$0
ROBERT SHAPIRO	Trustee	5.00	Director	$0	$0	$0
KAREN TINSMON	Trustee	5.00	Director	$0	$0	$0
BLISS OWEN	Trustee	2.00	Director	$0	$0	$0
MARGARET SANCHEZ	Trustee	2.00	Director	$0	$0	$0
JAMES WALKER	Trustee	2.00	Director	$0	$0	$0
DANIELLE ABRAMSON	Trustee	2.00	Director	$0	$0	$0
HELEN ZAMBONI	Vice President	5.00	Officer 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
2024	No data	No data	No data	No data
2023	$541,289	$632,713	$52,036	$-91,424
2022	$307,269	$369,178	$48,995	$-61,909
2021	$335,519	$380,779	$145,874	$-45,260
2020	$148,206	$160,551	$181,464	$-12,345
2019	$486,655	$300,997	$242,694	$185,658