OPERA COLORADO

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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

1981

Legal Domicile

Principal Officer

BARBARA LYNNE JAMISON

Phone

3037781500

Tax Period

2024-07-01 to 2025-06-30

OPERA COLORADO, founded in 1981, is a community nonprofit in the Arts, Culture & Humanities sector that reported $5.0M in total revenue in fiscal year 2024. Revenue decreased 15% compared to the prior year. Expenses of $6.0M exceeded revenue, resulting in a 20% operating deficit.

Mission

OPERA COLORADO USES THE POWERFUL ART FORM OF OPERA TO CONNECT OUR COMMUNITY THROUGH MUSICAL STORYTELLING. THE COMPANY ACTIVELY COLLABORATES WITH OTHER NON-PROFIT INSTITUTIONS TO AMPLIFY THEIR MISSIONS WITH THE ARTS.

Program Service Accomplishments

Program 1

Expenses: $2,859,059 Revenue: $1,463,579

OPERA COLORADO PRODUCES TWO FULLY STAGED GRAND OPERAS AT THE ELLIE CAULKINS OPERA HOUSE FOR AUDIENCES IN GREATER DENVER AND THE ROCKY MOUNTAIN REGION AT LARGE. THIS PROGRAM SERVES OVER 20,000 PATRONS...

Program 2

Expenses: $1,439,936 Revenue: $296,971

OPERA COLORADO ANNUALLY SERVES OVER 40,000 STUDENTS OF ALL AGES THROUGH EDUCATION AND COMMUNITY ENGAGEMENT PROGRAMS, BRINGING THE ARTS INTO SCHOOLS, CLASSROOMS, AND COMMUNITY CENTERS THROUGH GREATER DENVER AND THE ROCKY MOUNTAIN REGION AT LARGE. OPERA COLORADO ALSO MAKES A SIGNIFICANT INVESTMENT IN SUPPORTING FUTURE OPERA PROFESSIONALS WITH ITS ARTIST IN RESIDENCE PROGRAM, A 9-MONTH RESIDENCY WITH ARTIST TRAINING AND PERFORMANCE OPPORTUNITIES IN A PROFESSIONAL OPERA HOUSE AND IN THE COMMUNITY.

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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 $3,247,893

Program Service Revenue $1,743,948

Investment Income $27,176

Other Revenue $16,602

TOTAL REVENUE $5,035,619

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,850,329

Fundraising Expenses $381,677

Program Expenses $4,298,995

Other Expenses $2,190,462

TOTAL EXPENSES $6,040,791

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,035,619	$5,952,354	-0.2%
Expenses	$6,040,791	$6,818,559	-0.1%
Net Income	$-1,005,172	$-866,205	+0.2%

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

288

Volunteers

122

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

$304,345

Total Directors

$187,131

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BARBARA LYNNE JAMISON	ART DIR. EFF	20.00	Officer Director	$0	$0	$0
GREG CARPENTER	ART DIR. THR	40.00	Officer Director	$180,173	$6,958	$187,131
ARI PELTO	MUSIC DIRECT	40.00	Highest	$182,650	$3,017	$185,667
ERIN WENZEL	DIR. OF DEVE	40.00	Highest	$127,955	$4,788	$132,743
JENNIFER COLGAN	DIR. OF MARK	40.00	Highest	$117,945	$4,426	$122,371
TOM KIRKPATRICK	CFO	40.00	Officer	$112,806	$4,408	$117,214
RICHARD KOSEFF	CHAIR	5.00	Officer Director	$0	$0	$0
ELIZABETH CASWELL DYER	CHAIR EMERIT	5.00	Officer Director	$0	$0	$0
CHEVIS F HORNE	PRESIDENT	5.00	Officer Director	$0	$0	$0
DR LAURENCE K CHAN	VICE PRESIDE	5.00	Officer Director	$0	$0	$0
JUDY LA SPADA	VICE PRESIDE	5.00	Officer Director	$0	$0	$0
PREM S SUBRAMANIAN MD PHD	SECRETARY	5.00	Officer Director	$0	$0	$0
MARK BUSSEY	TREASURER	5.00	Officer Director	$0	$0	$0
MARIA GARCIA BERRY	DIRECTOR	5.00	Director	$0	$0	$0
EDWARD BALKIN	DIRECTOR	5.00	Director	$0	$0	$0
DANIEL G WELCH	DIRECTOR	5.00	Director	$0	$0	$0
RICHARD GARVIN	DIRECTOR	5.00	Director	$0	$0	$0
KELLY ANN HODGES	DIRECTOR	5.00	Director	$0	$0	$0
DON HINDMAN	DIRECTOR	5.00	Director	$0	$0	$0
DR SUSAN RAE JENSEN	DIRECTOR	5.00	Director	$0	$0	$0
HON KENNETH LAFF	DIRECTOR	5.00	Director	$0	$0	$0
JAMES LINFIELD	DIRECTOR	5.00	Director	$0	$0	$0
WILLIAM MANIATIS MD	DIRECTOR	5.00	Director	$0	$0	$0
MAJ KONSTANTINOS G MANIATIS	DIRECTOR	5.00	Director	$0	$0	$0
RONALD OTSUKA	DIRECTOR	5.00	Director	$0	$0	$0
KEVIN D O'CONNOR	DIRECTOR	5.00	Director	$0	$0	$0
EVI WOLF	DIRECTOR	5.00	Director	$0	$0	$0
ROBIN YAEGER	DIRECTOR	5.00	Director	$0	$0	$0
JEFF V BALDWIN	DIRECTOR	5.00	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
2025	$5,035,619	$6,040,791	$1,996,660	$-1,005,172
2024	$5,952,354	$6,818,559	$2,756,200	$-866,205
2023	$5,551,169	$7,117,559	$3,152,693	$-1,566,390
2022	$6,329,194	$6,391,866	$4,277,559	$-62,672
2021	$3,925,553	$2,692,280	$4,199,479	$1,233,273
2020	$4,615,946	$4,094,423	$2,833,168	$521,523
2019	$5,047,106	$4,136,636	$2,438,450	$910,470