2022-12-16T14:23:54-06:00 2022-05-31 580692043 MAULDIN & JENKINS LLC 1401 MANATEE AVE W STE 1200 BRADENTON FL 34205 990 2021-06-01 237089047 SARASOTA OPERA ASSOCIATION INC SARA 9413668450 61 N PINEAPPLE AVENUE SARASOTA FL 34236 RICHARD A RUSSELL GENERAL DIRECTOR 9413668450 2022-12-13 1 RICHARD RUSSELL 999009999 BRIAN CARTER P00536712 9417474483 2022-12-13 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z RICHARD A RUSSELL 61 N PINEAPPLE AVENUE SARASOTA FL 34236 13306704 0 X WWW.SARASOTAOPERA.ORG X 1961 FL TO PRODUCE OUTSTANDING OPERA TRUE TO THE VISION OF THE COMPOSER, TO ENTERTAIN, ENRICH, AND EDUCATE THE COMMUNITIES IN SOUTHWEST FLORIDA AS WELL AS PATRONS FROM ACROSS THE STATE AND AROUND THE WORLD. 29 27 102 150 0 0 5036758 7023820 576965 2325153 431227 756689 436579 552010 6481529 10657672 0 9000 0 0 3439074 4940876 0 0 591164 2628769 4160710 6067843 9110586 413686 1547086 28037945 28856599 3954480 4076383 24083465 24780216 X TO PRODUCE OUTSTANDING OPERA TRUE TO THE VISION OF THE COMPOSER, TO ENTERTAIN, ENRICH, AND EDUCATE THE COMMUNITIES IN SOUTHWEST FLORIDA AS WELL AS PATRONS FROM ACROSS THE STATE AND AROUND THE WORLD. TO PRODUCE SUCH OPERAS; AND TO FOSTER, PROMOTE, AND INCREASE PUBLIC KNOWLEDGE AND APPRECIATION OF OPERA AND SIMILAR PRESENTATIONS; TO INSTRUCT, TRAIN AND EDUCATE BOTH STUDENTS AND THE PUBLIC, GENERALLY, IN OPERA, MUSIC, AND RELATED PREFORMING ARTS; AND TO RENT, ACQUIRE FOR USE, OR OWN, MAINTAIN, AND OPERATE A PLACE OR PLACES TO ACCOMPLISH THESE OBJECTIVES. 0 0 6784809 9000 2717695 SARASOTA OPERA BEGAN ITS RETURN TO A NORMAL OPERATING SCHEDULE, BUT WAS STILL IMPACTED BY THE LINGERING EFFECTS OF COVID. COVID CAUSED THE CANCELLATION OF ONE PERFORMANCE AND THE POSTPONEMENT OF ANOTHER. THE OPERA PRESENTED 31 OPERA PERFORMANCES AS WELL AS 4 CONCERTS AND 11 HD MOVIE SHOWINGS. THE OPERA'S YOUTH OPERA PROGRAM WAS LIMITED TO A CONCERT, BUT EFFORTS TO RE-BUILD AND GROW THIS UNIQUE PROGRAM, POST-COVID, ARE CONTINUING. A NEW COURTYARD DINING SERIES WAS ADDED TO SPECIAL EVENTS AND THE ANNUAL GALA WAS RE-ESTABLISHED. THE OPERA'S TWO GUILDS ALSO RE-STARTED THEIR FUNDRAISING EVENTS. 6784809 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 149 0 102 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 29 27 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 FL X X X KEN TARASI 9413668450 61 N PINEAPPLE AVENUE SARASOTA FL 34236 WALDRON KRAEMER CHAIR 5.00 X X 0 0 0 ROSANNE MARTORELLA VICE CHAIR 5.00 X X 0 0 0 ARTHUR SICILIANO TREASURER 5.00 X X 0 0 0 KATHERINE BENOIT SECRETARY 2.00 X X 0 0 0 STAN ABSHIER TRUSTEE 2.00 X 0 0 0 RON ARCHBOLD TRUSTEE 2.00 X 0 0 0 J SUMNER BAGBY TRUSTEE 2.00 X 0 0 0 EDWARD C BAVARIA TRUSTEE 2.00 X 0 0 0 ULYSSES BRUALDI TRUSTEE 2.00 X 0 0 0 DAVID CHAIFETZ TRUSTEE 2.00 X 0 0 0 RICHARD DEGENNARO TRUSTEE 2.00 X 0 0 0 VICTOR DERENZI TRUSTEE 2.00 X 0 0 0 SYBLE DI GIROLAMO IMMEDIATE PAST CHAIR 2.00 X 0 0 0 CAROL ENGLISH TRUSTEE 2.00 X 0 0 0 FRANCES DALY FERGUSSON TRUSTEE 2.00 X 0 0 0 ROGER S KAUFMAN TRUSTEE 2.00 X 0 0 0 MARY J MITCHELL TRUSTEE 2.00 X 0 0 0 HAROLD R RONSON TRUSTEE 2.00 X 0 0 0 STEVE SABATO TRUSTEE 2.00 X 0 0 0 TOBY SIEGEL TRUSTEE 2.00 X 0 0 0 THOMAS STEINER TRUSTEE 2.00 X 0 0 0 JOHN F SUHRE TRUSTEE 2.00 X 0 0 0 WILLIAM D TOMPKINS TRUSTEE 2.00 X 0 0 0 JEFF TROIANO TRUSTEE 2.00 X 0 0 0 MICHAL WADSWORTH TRUSTEE 2.00 X 0 0 0 ANN WALLER TRUSTEE 2.00 X 0 0 0 DONALD J WORTHINGTON TRUSTEE 2.00 X 0 0 0 JEANNE YEAGLE TRUSTEE 2.00 X 0 0 0 RICHARD RUSSELL GENERAL DIRECTOR 50.00 X X 346435 0 7485 KENNETH TARASI DIRECTOR OF FINANCE 50.00 X 121145 0 6731 467580 0 14216 2 0 1 0 DERENZI & SUNDINE INC 1111 N GULFSTREAM AVE SARASOTA FL 34236 ARTISTIC DIRECTION, STAGE DIRECTION, CON 464856 ALDINA LC 1247 MANDALAY POINT SARASOTA FL 34242 WAREHOUSE STORAGE FOR SETS & COSTUMES 180000 PLANIFORM (1983) INC 1060 RUE NATIONALE TERREBONNE QUEBEC CA J6W6C1 COSTUME RACKS AND INSTALLATION IN NEW WA 162507 SCHOOL OF RUSSIAN BALLET 8031 COOPER CREEK BLVD UNIVERSITY PARK FL 34201 PROCEEDS FROM TICKET SALES FOR THEATER R 133997 ROSEMARY SQUARE LLC 555 S OSPREY AVENUE SARASOTA FL 34236 MAINTENANCE 119646 5 2634134 4389686 7023820 OPERA PRODUCTIONS 711110 1840907 1840907 RENTAL 711110 419868 419868 SARASOTA YOUTH OPERA 711110 64378 64378 2325153 217865 217865 1733927 1186047 1581765 799385 152162 386662 538824 538824 427350 267882 159468 159468 OTHER INCOME 711110 392542 392542 392542 10657672 2717695 0 916157 9000 9000 763757 184716 341408 237633 3687209 2964342 689408 33459 312417 194190 87922 30305 177493 94105 64138 19250 8857 8857 21600 21600 101236 101236 317529 317529 137607 11031 116102 10474 115467 3679 111450 338 820207 749058 71149 567348 565591 428 1329 33699 4991 26630 2078 141435 95106 39943 6386 817802 794301 23501 164187 161377 2810 PRODUCTION MATERIALS 532699 532699 GUILDS 123090 123090 OTHER PROGRAM EXP 103094 103094 FUNDRAISING 84980 84980 69873 28031 41842 9110586 6784809 1734613 591164 193264 284163 224265 1263431 272327 70472 349757 18721 14357 117164 28608682 12741502 16620397 15867180 10349307 11218599 14271 16869 28037945 28856599 134749 320111 410237 958919 3409494 2797353 3954480 4076383 X 15080192 16190255 9003273 8589961 24083465 24780216 28037945 28856599 1547086 -850335 0 X X 0 1 X 1 1 1 X 3621657 3959949 4675075 5036758 7023820 24317259 3494081 3519074 2822084 576965 2752503 13164707 7115738 7479023 7497159 5613723 9776323 37481966 285250 744741 1192559 470000 400000 3092550 0 285250 744741 1192559 470000 400000 3092550 34389416 47786 217322 196339 183958 217865 863270 47786 217322 196339 183958 217865 863270 278080 289431 199948 399271 392542 1559272 7441604 7985776 7893446 6196952 10386730 39904508 0.86180 0.82690 0.02160 0.02820 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10349307 1461502 -592210 11218599 8066100 809487 1714720 241000 10349307 8547272 36963 529865 1048000 8066100 8453072 286562 156660 349022 8547272 7960245 351500 478327 337000 8453072 0.23620 0.69190 0.07190 0 0 464466 464466 22984206 8979552 14004654 4086276 2822186 1264090 1073734 939764 133970 15867180 X 9973983 -850335 267882 -582453 10556436 101236 101236 10657672 9277232 267882 267882 9009350 101236 101236 9110586 PART V, LINE 4: TO PROVIDE A STABLE FLOW OF RESOURCES FOR CURRENT OPERATIONS. PART X, LINE 2: THE OPERA QUALIFIES AS A CHARITABLE ORGANIZATION AS DEFINED BY INTERNAL REVENUE CODE SECTION 501(C)(3) AND, ACCORDINGLY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(A). HOWEVER, THE OPERA IS SUBJECT TO INCOME TAX ON UNRELATED BUSINESS INCOME. FOR THE YEAR ENDED MAY 31, 2022, THE OPERA INCURRED NO INCOME TAX EXPENSE. IT IS THE OPERA'S POLICY TO ACCOUNT FOR ANY UNCERTAINTIES IN INCOME TAX LAW IN ACCORDANCE WITH FASB ASC 740-10 ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. ASC 740-10 CLARIFIES THE ACCOUNTING FOR UNCERTAIN INCOME TAX POSITIONS AND REQUIRES THAT THE OPERA RECOGNIZE THE IMPACT OF SUCH A TAX POSITION IN ITS FINANCIAL STATEMENTS IF, UPON ULTIMATE SETTLEMENT, THAT POSITION IS MORE-LIKELY-THAN-NOT TO BE SUSTAINED. MANAGEMENT HAS EVALUATED THE OPERA'S TAX POSITIONS AND CONCLUDED THAT THE OPERA HAS MAINTAINED ITS TAX-EXEMPT STATUS AND HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS. AS A RESULT, NO PROVISION OR LIABILITY FOR INCOME TAXES HAS BEEN INCLUDED IN THE FINANCIAL STATEMENTS. THE OPERA FILES A 990 RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 267,882. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 267,882. OPENING NIGHT GALA 236472 236472 54537 78922 12714 6323 COURTYARD DINNERS 28035 28035 11666 22089 3055 2136 4 162843 162843 7307 18705 500 49928 427350 427350 73510 119716 16269 58387 267882 159468 1 FINANCIAL SCHOLARSHIPS 7 9000 X X X X X 0 0 0 0 0 0 0 0 0 RICHARD RUSSELL GENERAL DIRECTOR 346435 0 0 0 0 0 0 0 7485 0 353920 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B A FULL COPY OF FORM 990 IS PROVIDED TO THE FINANCE COMMITTEE FOR THEIR REVIEW AND COMMENT. SUBSEQUENTLY, A FULL COPY OF FORM 990 IS THEN PROVIDED TO ALL MEMBERS OF THE BOARD, PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REQUIRES ALL POTENTIAL CONFLICTS OF INTEREST TO BE REPORTED TO A SUPERVISOR AND/OR TO THE EXECUTIVE DIRECTOR. THE ORGANIZATION REQUIRES CONFLICTS OF INTEREST TO BE AVOIDED OTHER THAN TO THE EXTENT THE EXECUTIVE DIRECTOR HAS PROVIDED THE EMPLOYEE WITH A WRITTEN EXEMPTION. THE BOARD OF TRUSTEES ARE ASKED TO DISCLOSE ANY CONFLICTS OF INTEREST AT THEIR ANNUAL MEETING. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION ENGAGES A HUMAN RESOURCE COMMITTEE WHICH FUNCTIONS AS A COMPENSATION COMMITTEE WHICH REVIEWS INDUSTRY COMPENSATION SURVEYS, REVIEWS AND APPROVES OPERA'S ANNUAL BUDGET AND REQUIRES RATIFICATION BY THE BOARD OF TRUSTEES FOR ARTISTIC AND EXECUTIVE DIRECTORS. ARTISTIC AND EXECUTIVE DIRECTORS ARE RESPONSIBLE FOR ALL OTHER PAID EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST OR AT WWW.GUIDESTAR.ORG, WWW.CHARITYNAVIGATOR.ORG, AND WWW.THEGIVINGPARTNER.ORG. FORM 990, PART XII, LINE 2C THE PROCESS IS UNCHANGED FROM THE PRIOR YEAR.