Glimmerglass Opera Theatre Inc
Glimmerglass Opera Theatre reports recent operational deficits despite strong asset base and no direct officer compensation.
EIN: 161053970 · Cooperstown, NY · NTEE: A6A0 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $10.3M |
| Total Expenses | $10.8M |
| Program Spending | 75% |
| CEO/Top Officer Pay | $10 |
| Net Assets | $14.0M |
| Transparency Score | 75/100 |
Is Glimmerglass Opera Theatre Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Glimmerglass Opera Theatre Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Glimmerglass Opera Theatre Inc
Glimmerglass Opera Theatre Inc (EIN: 161053970) is a nonprofit organization based in Cooperstown, NY, classified under NTEE code A6A0. The organization reported total revenue of $10.3M and total assets of $16.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Glimmerglass Opera Theatre Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Glimmerglass Opera Theatre Inc is a large nonprofit that has been operating for 51 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $7.7M |
| Total Expenses | $10.8M |
| Surplus / Deficit | $-3,067,019 |
| Total Assets | $16.4M |
| Total Liabilities | $2.5M |
| Net Assets | $14.0M |
| Operating Margin | -39.6% |
| Debt-to-Asset Ratio | 15.1% |
| Months of Reserves | 18.2 months |
Financial Health Grade: B
In 2023, Glimmerglass Opera Theatre Inc reported a deficit of $3.1M with expenses exceeding revenue, holds 18.2 months of operating reserves (strong position), has a debt-to-asset ratio of 15.1% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Glimmerglass Opera Theatre Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -22.3% | +2.9% | -0.9% |
| 2022 | +16.4% | +52.1% | -13.7% |
| 2021 | +43.3% | +24.0% | +21.0% |
| 2020 | -45.4% | -42.8% | -8.3% |
| 2019 | +14.4% | +4.1% | +10.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1975 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Glimmerglass Opera Theatre Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Glimmerglass Opera Theatre Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $3.1M, with expenses exceeding revenue.
- Debt-to-asset ratio: 15.1%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an entity with annual revenues exceeding $10 million. This suggests executive compensation may be categorized differently or the organization relies heavily on unpaid leadership, warranting further scrutiny for complete transparency.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Glimmerglass Opera Theatre Inc's IRS 990 filings:
- Consistent operational deficits in the last two reported periods (202309 and 202209), with expenses exceeding revenue.
- Unusually low liabilities in 202209 ($545,728) compared to other years, which could indicate a one-time event or reclassification.
- 0% officer compensation reported across all filings, which is highly unusual for an organization of this scale and could obscure actual executive remuneration.
Strengths
The following positive indicators were identified for Glimmerglass Opera Theatre Inc:
- Strong asset base of $16,478,803, providing financial stability and a buffer against deficits.
- Consistent history of IRS 990 filings (13 filings), indicating good transparency and compliance.
- Generally stable revenue streams over the past decade, typically ranging from $8M to $10M annually.
Frequently Asked Questions about Glimmerglass Opera Theatre Inc
Is Glimmerglass Opera Theatre Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Glimmerglass Opera Theatre Inc (EIN: 161053970) some concerns. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
How does Glimmerglass Opera Theatre Inc spend its money?
Glimmerglass Opera Theatre Inc directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Glimmerglass Opera Theatre Inc tax-deductible?
Glimmerglass Opera Theatre Inc is registered as a tax-exempt nonprofit (EIN: 161053970). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Glimmerglass Opera Theatre Inc CEO make?
Glimmerglass Opera Theatre Inc's highest-compensated officer earns $10 annually. The organization reported $10.3M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Glimmerglass Opera Theatre Inc's spending goes to programs?
Glimmerglass Opera Theatre Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Glimmerglass Opera Theatre Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Glimmerglass Opera Theatre Inc is above average for NTEE category A6A0 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Glimmerglass Opera Theatre Inc located?
Glimmerglass Opera Theatre Inc is headquartered in Cooperstown, New York and files with the IRS under EIN 161053970. It is classified under NTEE code A6A0.
How many years of IRS 990 filings does Glimmerglass Opera Theatre Inc have?
Glimmerglass Opera Theatre Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $10.3M in total revenue.
Is Glimmerglass Opera Theatre Inc. financially sustainable given recent operational deficits?
While the organization has a strong asset base of $16,478,803, recent filings show expenses exceeding revenue (e.g., $10.8M expenses vs. $7.7M revenue in 202309). Sustained deficits could impact long-term financial health.
How does Glimmerglass Opera Theatre Inc. manage executive compensation if 0% is reported?
The consistent reporting of 0% officer compensation is atypical for an organization of this size. It suggests executive compensation might be reported under other expense categories or that the organization operates with unpaid leadership, which would require deeper investigation into their financial statements for clarity.
What is the trend in Glimmerglass Opera Theatre Inc.'s revenue and expenses over the past five years?
Over the past five years, revenue has fluctuated, peaking at $10.9M in 201909 and dropping to $7.7M in 202309. Expenses have generally tracked revenue but have exceeded it in the last two periods, indicating a shift towards operational deficits.
Filing History
IRS 990 filing history for Glimmerglass Opera Theatre Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Glimmerglass Opera Theatre Inc's revenue has grown by 18.8%, moving from $6.5M to $7.7M. Total assets increased by 44.2% over the same period, from $11.4M to $16.4M. Total functional expenses rose by 51.6%, from $7.1M to $10.8M. In its most recent filing year (2023), Glimmerglass Opera Theatre Inc reported a deficit of $3.1M, with expenses exceeding revenue. The organization holds $2.5M in liabilities against $16.4M in assets (debt-to-asset ratio: 15.1%), resulting in net assets of $14.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $7.7M | $10.8M | $16.4M | $2.5M | — | View 990 |
| 2022 | $10.0M | $10.5M | $16.6M | $546K | — | View 990 |
| 2021 | $8.6M | $6.9M | $19.2M | $766K | — | View 990 |
| 2020 | $6.0M | $5.6M | $15.9M | $660K | — | View 990 |
| 2019 | $10.9M | $9.7M | $17.3M | $3.4M | — | View 990 |
| 2018 | $9.6M | $9.3M | $15.7M | $3.3M | — | View 990 |
| 2017 | $8.9M | $8.6M | $15.8M | $3.9M | — | View 990 |
| 2016 | $7.7M | $8.2M | $14.2M | $3.2M | — | View 990 |
| 2015 | $8.8M | $8.1M | $14.2M | $3.3M | — | View 990 |
| 2014 | $9.1M | $7.6M | $13.8M | $3.0M | — | View 990 |
| 2013 | $6.7M | $6.5M | $11.6M | $2.5M | — | View 990 |
| 2012 | $7.2M | $7.9M | $11.4M | $2.6M | — | View 990 |
| 2011 | $6.5M | $7.1M | $11.4M | $2.4M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $7.7M, expenses of $10.8M, and assets of $16.4M (revenue -22.3% year-over-year).
- 2022: Revenue of $10.0M, expenses of $10.5M, and assets of $16.6M (revenue +16.4% year-over-year).
- 2021: Revenue of $8.6M, expenses of $6.9M, and assets of $19.2M (revenue +43.3% year-over-year).
- 2020: Revenue of $6.0M, expenses of $5.6M, and assets of $15.9M (revenue -45.4% year-over-year).
- 2019: Revenue of $10.9M, expenses of $9.7M, and assets of $17.3M (revenue +14.4% year-over-year).
- 2018: Revenue of $9.6M, expenses of $9.3M, and assets of $15.7M (revenue +8.0% year-over-year).
- 2017: Revenue of $8.9M, expenses of $8.6M, and assets of $15.8M (revenue +15.7% year-over-year).
- 2016: Revenue of $7.7M, expenses of $8.2M, and assets of $14.2M (revenue -13.0% year-over-year).
- 2015: Revenue of $8.8M, expenses of $8.1M, and assets of $14.2M (revenue -2.9% year-over-year).
- 2014: Revenue of $9.1M, expenses of $7.6M, and assets of $13.8M (revenue +34.5% year-over-year).
- 2013: Revenue of $6.7M, expenses of $6.5M, and assets of $11.6M (revenue -6.3% year-over-year).
- 2012: Revenue of $7.2M, expenses of $7.9M, and assets of $11.4M (revenue +10.3% year-over-year).
- 2011: Revenue of $6.5M, expenses of $7.1M, and assets of $11.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Glimmerglass Opera Theatre Inc:
Data Sources and Methodology
This transparency report for Glimmerglass Opera Theatre Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.