Better Business Bureau Report for
Kentucky Opera

Better Business Bureau Report issued April 2018
Better Business Bureau Report expires April 2020


This BBB Accredited charity meets all 20 Standards for Charity Accountability and is a Seal Holder. Find out more...


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Charity Contact Information

Name: Kentucky Opera
Address: 323 West Broadway
  Louisville , KY 40202
Phone: (502) 584-4500
Web Address: https://kyopera.org/
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Better Business Bureau Comments

Year, State Incorporated: 1952, Kentucky
Affiliates: The Guild of Kentucky Opera
Stated Purpose: Kentucky Opera's mission is to enrich and engage the community through spectacular music, creative storytelling and the thrill of the human voice.

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Evaluation Conclusions

              

Kentucky Opera meets the 20 Standards for Charity Accountability.
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Programs

              

Kentucky Opera (KO) is one of the oldest opera companies in the United States and the only major opera company in Kentucky. It offers a robust, exciting season with innovative education and engagement programs. KO delivers a highly entertaining, accessible, affordable arts experience and continues to cultivate future generations to enjoy the art form. The organization presents rare works from master composers in new and modern operas that provoke the audiences imagination and artistic vision. These well-thought productions promote the necessity of opera in Kentucky. KO's passion is to reach beyond traditional boundaries, be a regional leader in artistic quality, and a national leader in training emerging young artists. KO will continue to showcase new operatic works and expand repertory and production design in new, exciting directions. Kentucky Opera draws from 257 zip codes and engages 480 artists annually in three productions in Louisville.

For the fiscal year ended May 31, 2017, Kentucky OperaKentucky Opera 's program expenses were:

  
Production 1,272,173
Marketing 275,491
Education 105,416
Total Program Expenses: $1,653,080
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Governance

              

Chief Executive : Ian Derrer, General Director
Compensation*: 
$105,000

Chair of the Board: William A Blodgett, Jr.
Chair's Profession / Business Affiliation: Attorney

Board Size: 33

Paid Staff Size: 18

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

              

Method(s) Used:

Direct mail, telephone, invitations to fund raising events, print advertisements, television, radio, grant proposals, internet, planned giving arrangements, membership, personal solicitations, direct mail appeals, participation in community events designed to raise profile and build awareness.
Fund raising costs were 14% of related contributions. (Related contributions, which totaled $1,716,632, are donations received as a result of fund raising activities.)
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Tax Status

              

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

              

The following information is based on Kentucky Opera's audited financial statements for the fiscal year ended May 31, 2017.

Ending net assets as reported below include $238,857 in unrestricted net assets, $1,267,463 in temporarily restricted net assets and $2,485,253 in permanently restricted assets.

Total assets as reported include $31,144 invested in property and equipment, net.

Source of Funds  
Grants and Donations 1,481,635
Ticket Sales & Related Revenue 314,441
Other Fundraising Activities 234,997
Other Earned Revenue 81,386
Total Income $2,112,459


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Uses of Funds as a % of Total Expenses

Programs: 75%  Fund Raising: 11%  Administrative: 14% 

Total income $2,112,459
Program expenses $1,653,080
Fund raising expenses 247,613
Administrative expenses 321,088
Total expenses $2,221,781
Expenses in Excess of Income (109,322)
Beginning net assets 3,782,410
Other Changes in Net Assets 318,485
Ending net assets 3,991,573
Total liabilities 239,131
Total assets $4,230,704


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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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