Goodspeed Opera House Foundation Inc
Goodspeed Opera House Foundation maintains stable assets despite fluctuating annual operating results and reports no officer compensation.
EIN: 131969314 · East Haddam, CT · NTEE: A650 · Updated: 2026-03-28
Is Goodspeed Opera House Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Goodspeed Opera House Foundation Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Goodspeed Opera House Foundation Inc
Goodspeed Opera House Foundation Inc (EIN: 131969314) is a nonprofit organization based in East Haddam, CT, classified under NTEE code A650. The organization reported total revenue of $18.9M and total assets of $31.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Goodspeed Opera House Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Goodspeed Opera House Foundation Inc is a large nonprofit that has been operating for 65 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 0.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $12.1M |
| Total Expenses | $13.8M |
| Surplus / Deficit | $-1,751,141 |
| Total Assets | $32.6M |
| Total Liabilities | $3.7M |
| Net Assets | $29.0M |
| Operating Margin | -14.5% |
| Debt-to-Asset Ratio | 11.3% |
| Months of Reserves | 28.3 months |
Financial Health Grade: B
In 2023, Goodspeed Opera House Foundation Inc reported a deficit of $1.8M with expenses exceeding revenue, holds 28.3 months of operating reserves (strong position), has a debt-to-asset ratio of 11.3% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Goodspeed Opera House Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 0.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -3.3% | +22.0% | +1.5% |
| 2022 | +34.8% | +93.4% | -10.0% |
| 2021 | +61.8% | -4.0% | +10.4% |
| 2020 | -48.6% | -52.2% | +0.9% |
| 2019 | -0.3% | +5.2% | -1.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 1961 |
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 Goodspeed Opera House Foundation Inc with a Mission Score of 88 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Goodspeed Opera House Foundation Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $1.8M, with expenses exceeding revenue.
- Debt-to-asset ratio: 11.3%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating either that executive leadership is not compensated or that compensation is categorized differently, which is a strong positive for financial transparency and resource allocation.
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 Goodspeed Opera House Foundation Inc's IRS 990 filings:
- Operating deficits in multiple years (e.g., 2023, 2019, 2018, 2017, 2016) where expenses exceeded revenue, which could indicate reliance on reserves or other funding sources.
Strengths
The following positive indicators were identified for Goodspeed Opera House Foundation Inc:
- Consistent asset base, demonstrating long-term financial stability (e.g., $32,642,086 in 2023).
- No reported officer compensation across all filings, indicating strong transparency and efficient use of funds.
- Strong program spending ratio, suggesting a focus on its core mission.
- Significant revenue generation, with latest reported revenue at $18,862,532, indicating strong public support.
Frequently Asked Questions about Goodspeed Opera House Foundation Inc
Is Goodspeed Opera House Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Goodspeed Opera House Foundation Inc (EIN: 131969314) some concerns. Mission Score: 88/100. 1 red flag identified, 4 strengths noted.
How does Goodspeed Opera House Foundation Inc spend its money?
Goodspeed Opera House Foundation Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Goodspeed Opera House Foundation Inc tax-deductible?
Goodspeed Opera House Foundation Inc is registered as a tax-exempt nonprofit (EIN: 131969314). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Goodspeed Opera House Foundation Inc. financially stable?
Yes, the organization demonstrates financial stability with consistent asset levels, generally ranging from $31 million to $35 million over the past decade, despite annual fluctuations in revenue and expenses. For example, assets were $32,642,086 in 2023.
How does Goodspeed Opera House Foundation Inc. manage executive compensation?
The organization consistently reports 0% officer compensation in all available IRS 990 filings, suggesting a highly efficient or volunteer-driven leadership structure, or that compensation is reported under different categories.
What is the trend in the organization's revenue and expenses?
Revenue and expenses have fluctuated over the years. For instance, revenue was $12,089,132 in 2023, down from $12,508,073 in 2022, while expenses were $13,840,273 in 2023, up from $11,347,438 in 2022. There have been periods of both operating surpluses and deficits.
Does the organization have significant liabilities?
Liabilities have generally been manageable relative to assets. For example, in 2023, liabilities were $3,674,370 against assets of $32,642,086, indicating a healthy balance sheet.
Filing History
IRS 990 filing history for Goodspeed Opera House Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Goodspeed Opera House Foundation Inc's revenue has grown by 5.8%, moving from $11.4M to $12.1M. Total assets decreased by 8.2% over the same period, from $35.5M to $32.6M. Total functional expenses rose by 30.3%, from $10.6M to $13.8M. In its most recent filing year (2023), Goodspeed Opera House Foundation Inc reported a deficit of $1.8M, with expenses exceeding revenue. The organization holds $3.7M in liabilities against $32.6M in assets (debt-to-asset ratio: 11.3%), resulting in net assets of $29.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $12.1M | $13.8M | $32.6M | $3.7M | — | View 990 |
| 2022 | $12.5M | $11.3M | $32.1M | $3.8M | — | View 990 |
| 2021 | $9.3M | $5.9M | $35.7M | $5.6M | — | View 990 |
| 2020 | $5.7M | $6.1M | $32.4M | $5.9M | — | View 990 |
| 2019 | $11.2M | $12.8M | $32.1M | $4.4M | — | View 990 |
| 2018 | $11.2M | $12.1M | $32.5M | $5.0M | — | View 990 |
| 2017 | $10.9M | $12.5M | $34.7M | $4.3M | — | View 990 |
| 2016 | $11.0M | $12.5M | $35.6M | $5.0M | — | View 990 |
| 2015 | $13.9M | $11.9M | $38.0M | $6.1M | — | View 990 |
| 2014 | $13.2M | $11.7M | $41.1M | $6.8M | — | View 990 |
| 2013 | $12.0M | $11.2M | $39.6M | $6.9M | — | View 990 |
| 2012 | $11.1M | $11.2M | $36.4M | $6.9M | — | View 990 |
| 2011 | $11.4M | $10.6M | $35.5M | $7.3M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $12.1M, expenses of $13.8M, and assets of $32.6M (revenue -3.3% year-over-year).
- 2022: Revenue of $12.5M, expenses of $11.3M, and assets of $32.1M (revenue +34.8% year-over-year).
- 2021: Revenue of $9.3M, expenses of $5.9M, and assets of $35.7M (revenue +61.8% year-over-year).
- 2020: Revenue of $5.7M, expenses of $6.1M, and assets of $32.4M (revenue -48.6% year-over-year).
- 2019: Revenue of $11.2M, expenses of $12.8M, and assets of $32.1M (revenue -0.3% year-over-year).
- 2018: Revenue of $11.2M, expenses of $12.1M, and assets of $32.5M (revenue +2.5% year-over-year).
- 2017: Revenue of $10.9M, expenses of $12.5M, and assets of $34.7M (revenue -0.7% year-over-year).
- 2016: Revenue of $11.0M, expenses of $12.5M, and assets of $35.6M (revenue -20.8% year-over-year).
- 2015: Revenue of $13.9M, expenses of $11.9M, and assets of $38.0M (revenue +5.6% year-over-year).
- 2014: Revenue of $13.2M, expenses of $11.7M, and assets of $41.1M (revenue +9.5% year-over-year).
- 2013: Revenue of $12.0M, expenses of $11.2M, and assets of $39.6M (revenue +8.4% year-over-year).
- 2012: Revenue of $11.1M, expenses of $11.2M, and assets of $36.4M (revenue -3.0% year-over-year).
- 2011: Revenue of $11.4M, expenses of $10.6M, and assets of $35.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Goodspeed Opera House Foundation Inc:
Data Sources and Methodology
This transparency report for Goodspeed Opera House Foundation 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.