2020-01-10T15:12:42-06:00 2019-05-31 580692043 MAULDIN & JENKINS LLC 1401 MANATEE AVE W SUITE 1200 BRADENTON FL 34205 990 2018-06-01 237089047 SARASOTA OPERA ASSOCIATION INC SARA 9413668450 61 N PINEAPPLE AVENUE SARASOTA FL 34236 RICHARD A RUSSELL EXECUTIVE DIRECTOR 9413668450 2019-12-23 1 BRIAN CARTER P00536712 9417474483 2019-12-19 50.192.51.169 2019-12-23 12:56:36 ES P B154A02D11882DB1195C090D0DC39E07FB4048DF A70BCDBD55F25748A4D145A5BB363823577BED14 2018 2020-09-23 17:36:50Z RICHARD A RUSSELL 61 N PINEAPPLE AVENUE SARASOTA FL 34236 17753833 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. 27 25 163 300 0 0 3621657 3959949 3494081 3519074 47786 329702 278080 399799 7441604 8208524 12000 19000 0 0 4432468 5350481 0 0 680279 4926421 4104359 9370889 9473840 -1929285 -1265316 27524752 26510657 2752349 3105224 24772403 23405433 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 7110509 19000 3808505 SARASOTA OPERA PRESENTED 44 OPERA PERFORMANCES, INCLUDING 2 YOUTH OPERA PERFORMANCES; 12 CONCERTS; WEEKLY HD MOVIE PRESENTATIONS THROUGH THE SUMMER MONTHS, OPERA HOUSE TOURS, OUTREACH AND EDUCATIONAL PROGRAMS INCLUDING COLLABORATIONS WITH OTHER ORGANIZATIONS REACHING NEARLY 50,000 PATRONS IN SOUTHWEST FLORIDA. 2,000 YOUTHS PARTICIPATED IN SCHOOL-BASED CULTURAL EVENTS THROUGH THE OPERA'S YOUTH OPERA PROGRAM, WHICH ALSO SERVES AS A CONDUIT FOR APPEARANCES IN FULLY-STAGED OPERA PRODUCTIONS. 7110509 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 1 264 0 1 163 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 27 25 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 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 ROBERT BENJAMIN TRUSTEE 2.00 X 0 0 0 MURRAY BRING CHAIRMAN 15.00 X X 0 0 0 ULYSSES BRUALDI TRUSTEE 2.00 X 0 0 0 DAVID CHAIFETZ IMMEDIATE PAST CHAIR 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 VICE CHAIRMAN 5.00 X X 0 0 0 ANTOINETTE DOWLING TRUSTEE 2.00 X 0 0 0 CAROL ENGLISH TRUSTEE 2.00 X 0 0 0 ANGELO M FATTA TRUSTEE 2.00 X 0 0 0 JANET HUELSTER SECRETARY 5.00 X X 0 0 0 WALDRON KRAEMER TREASURER 5.00 X X 0 0 0 ROSANNE MARTORELLA TRUSTEE 2.00 X 0 0 0 KIM NETTLES 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 ARTHUR SICILIANO TRUSTEE 2.00 X 0 0 0 TOBY SIEGEL TRUSTEE 2.00 X 0 0 0 WILLIAM D TOMPKINS TRUSTEE 2.00 X 0 0 0 MICHAL WADSWORTH TRUSTEE 2.00 X 0 0 0 DONALD J WORTHINGTON TRUSTEE 2.00 X 0 0 0 JACK WRIGHT TRUSTEE 2.00 X 0 0 0 RICHARD RUSSELL EXECUTIVE DIRECTOR 50.00 X 259941 0 9087 KENNETH TARASI DIRECTOR OF FINANCE 50.00 X 104475 0 8921 STACY RIDENOUR DEVELOPMENT DIRECTOR 50.00 X 113580 0 8950 477996 0 26958 3 0 1 0 DERENZI & SUNDINE INC 1111 N GULFSTREAM AVE SARASOTA FL 34236 ARTISTIC DIRECTION, CONDUCTING, STAGE DI 409791 ASOLO SCENIC STUDIO 5555 N TAMIAMI TRAIL SARASOTA FL 34243 SET BUILDING 150532 ALDINA LC 1247 MANDALAY POINT SARASOTA FL 34242 WAREHOUSE STORAGE FOR SETS & COSTUMES 108000 3 2211 122410 3835328 3959949 OPERA PRODUCTIONS 711110 3023161 3023161 RENTAL 711110 403640 403640 SARASOTA YOUTH OPERA 711110 92273 92273 3519074 217322 217322 9426200 9312143 1677 114057 -1677 112380 112380 341857 2211 231489 110368 110368 OTHER INCOME 711110 289431 289431 289431 8208524 3808505 0 440070 19000 19000 527108 157283 161614 208211 4352557 3383605 823442 145510 293173 191822 74178 27173 177643 92810 61184 23649 12350 12350 27685 27685 68647 68647 392716 392716 178125 13904 151341 12880 128412 1919 126493 833670 764306 69364 586451 581867 1056 3528 32705 26029 4108 2568 82522 27272 55250 692074 686543 5531 131514 128504 3010 PRODUCTION MATERIALS 540073 540073 GUILDS 136252 136252 OTHER PRESENTATIONS 115022 115022 GENERAL & ADMINISTRATIV 50263 50263 95878 15106 15514 65258 9473840 7110509 1683052 680279 55680 157462 79298 161741 1423781 819029 103949 27279 155357 108471 27027080 10344826 17229222 16682254 8453074 8547272 24391 7149 27524752 26510657 319191 268004 1048538 1066743 1384620 1770477 2752349 3105224 X 15600215 14625821 1623592 1055539 7548596 7724073 24772403 23405433 27524752 26510657 -1265316 -101654 0 X X 0 1 X 1 0 X 6655916 5037037 7443911 3621657 3959949 26718470 3341081 3745135 3202405 3494081 3519074 17301776 9996997 8782172 10646316 7115738 7479023 44020246 1689301 644196 2333497 0 1689301 644196 2333497 41686749 1929670 496242 505395 47786 217322 3196415 1929670 496242 505395 47786 217322 3196415 319722 326316 137804 278080 289431 1351353 12246389 9604730 11289515 7441604 7985776 48568014 0.85830 0.90160 0.06580 0.06990 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8453072 286562 156660 349022 8547272 7960245 351500 478327 337000 8453072 6142545 1440227 674973 297500 7960245 6661402 156210 -131567 543500 6142545 5697513 880000 301890 218001 6661402 0.04160 0.90040 0.05800 0 0 464466 464466 22984206 7320564 15663642 2645404 2506036 139368 933004 518226 414778 16682254 X 8269712 -101654 231489 129835 8139877 68647 68647 8208524 9636682 231489 231489 9405193 68647 68647 9473840 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, 2019, 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 231,489. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 231,489. OPENING NIGHT GALA 143068 143068 13107 78494 2798 2008 SPRING FUNDRAISER 35165 35165 1192 5500 34461 350 5 165835 2211 163624 2341 70598 1255 19385 344068 2211 341857 1192 20948 183553 4403 21393 231489 110368 1 FINANCIAL SCHOLARSHIPS 11 19000 X X X X X 0 0 0 0 0 0 0 0 0 RICHARD RUSSELL EXECUTIVE DIRECTOR 259941 0 0 0 0 0 0 0 9087 0 269028 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE BOARD THROUGH ITS FINANCE COMMITTEE, REVIEWS AND APPROVES THE FORM 990 PRIOR TO ITS FILING WITH THE IRS. THE FINANCE COMMITTEE REPORTS ITS REVIEW AND UPON FINAL APPROVAL BY THE BOARD, THE 990 IS FILED 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. FORM 990, PART XII, LINE 2C THE PROCESS IS UNCHANGED FROM THE PRIOR YEAR.