Lyric Opera Of Chicago in Chicago, Illinois (IL)

Lyric Opera Of Chicago
Employer Identification Number (EIN)	366008929
Name of Organization	Lyric Opera Of Chicago
In Care of Name	Anthony Freud
Address	20 N Wacker Dr, Chicago, IL 60606-2806
Activities	Other cultural or historical activities, Other school related activities, Fundraising
Subsection	Educational Organization
Ruling Date	07/1957
Deductibility	Contributions are deductible
Foundation	Organization which receives a substantial part of its support from a governmental unit or the general public
Organization	Corporation
Exempt Organization Status	Unconditional Exemption
Tax Period	06/2013
Assets	$50,000,000 to greater
Income	$10,000,000 to $49,999,999
Filing Requirement	990 (all other) or 990EZ return
Asset Amount	$282,918,826
Amount of Income	$26,831,162
Form 990 Revenue Amount	$22,891,842
National Taxonomy of Exempt Entities (NTEE)	Arts, Culture and Humanities: Opera

Non-representatives - add comments:

Amount of income in 2013: $26,831,162

Lyric Opera Of Chicago:	$26,831,162
Other organizations performing similar types of work:	$326,346

Assets in 2013: $282,918,826

Lyric Opera Of Chicago:	$282,918,826
Other organizations performing similar types of work:	$157,818

Expenses in 2013: $63,003,591

This organization:	$63,003,591
Other organizations performing similar types of work:	$318,256

Income to expenses ratio in 2013: 0.4

This organization:	0.4
Other organizations performing similar types of work:	1.1

Expenses allocated to program services in 2007: 84.5%

Lyric Opera Of Chicago:	84.5%
Other organizations performing similar types of work:	78.6%

Number of employees in 2013: 936

Lyric Opera Of Chicago:	936
Other organizations performing similar types of work:	12

Employees paid over $100,000 in 2013: 8.8%

Lyric Opera Of Chicago:	8.8%
Other organizations performing similar types of work:	0.0%

Grants share in income in 2013: 52.5%

This organization:	52.5%
Other organizations performing similar types of work:	54.6%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Support schedule

	2012	2013
Checklist
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?	No	No
Is the organization required to complete Schedule B, Schedule of Contributors?	Yes	Yes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?	No	No
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?	No	No
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?	No	No
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?	No	No
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?	No	No
Did the organization maintain collections of works of art, historical treasures, or other similar assets?	No	No
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?	No	No
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?	No	No
Did the organization report an amount for land, buildings, and equipment?	Yes	Yes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?	Yes	Yes
Did the organization report an amount for investments-program related that is 5% or more of its total assets?	No	No
Did the organization report an amount for other assets that is 5% or more of its total assets?	No	No
Did the organization report an amount for other liabilities?	Yes	Yes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?	Yes	Yes
Did the organization obtain separate, independent audited financial statements for the tax year?	No	No
Was the organization included in consolidated, independent audited financial statements for the tax year?	Yes	Yes
Is the organization a school described in section 170(b)(1)(A)(ii)?	No	No
Did the organization maintain an office, employees, or agents outside of the United States?	No	No
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?	No	No
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?	No	No
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?	No	No
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?	No	No
Did the organization report more than $15,000 total of fundraising event gross income and contributions?	Yes	Yes
Did the organization report more than $15,000 of gross income from gaming activities?	Yes	Yes
Did the organization operate one or more hospital facilities?	No	No
Did the organization attach a copy of its audited financial statements?	No	No
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?	Yes	Yes
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?	No	No
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?	Yes	Yes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?	Yes	Yes
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?	No	No
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?	No	No
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?	No	No
Did the organization engage in an excess benefit transaction with a disqualified person during the year?	No	No
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?	No	No
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?	No	No
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?	Yes	Yes
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?	Yes	Yes
A family member of a current or former officer, director, trustee, or key employee?	No	No
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?	No	No
Did the organization receive more than $25,000 in non-cash contributions?	Yes	Yes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?	No	No
Did the organization liquidate, terminate, or dissolve and cease operations?	No	No
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?	No	No
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?	No	No
Was the organization related to any tax-exempt or taxable entity?	No	No
Did the organization have a controlled entity within the meaning of section 512(b)(13)?	No	No
Did the organization make any transfers to an exempt non-charitable related organization?	No	No
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?	No	No

	2011	2012	2013
Statements Regarding Other IRS Filings and Tax Compliance
The number reported in Box 3 of Form 1096		212	263
The number of Forms W-2G		0	1
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?		Yes	Yes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return		790	936
Did the organization file all required federal employment tax returns?		Yes	Yes
Did the organization have unrelated business gross income of $1,000 or more during the year?	Yes	Yes	Yes
Has it filed a Form 990-T for this year?		Yes	No
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?		No	No
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?		No	No
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?		No	No
Did the organization file Form 8886-T?		No	No
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?		No	No
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?		No	No
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?		Yes	Yes
Did the organization notify the donor of the value of the goods or services provided?		Yes	Yes
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?		No	No
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?		No	No
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?		No	No
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?		No	No
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?		No	No
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?		No	No
Did the sponsoring organization make any taxable distributions under section 4966?		No	No
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?		No	No
Initiation fees and capital contributions	$0	$0	$0
Gross receipts for public use of club facilities	$0	$0	$0
Gross income from members or shareholders	$0	$0	$0
Gross income from other sources	$0	$0	$0
Is the organization filing Form 990 in lieu of Form 1041?		No	No
The amount of tax-exempt interest received or accrued during the year		$0	$0
Is the organization licensed to issue qualified health plans in more than one state?		No	No
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans		$0	$0
The amount of reserves on hand		$0	$0
Did the organization receive any payments for indoor tanning services during the tax year?		No	No
Has it filed a Form 720 to report these payments?		No	No

	2012	2013
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization	$3,885,495	$5,229,907
Total reportable compensation from related organizations	$0	$0
Total estimated amount of other compensation from the organization and related organizations	$403,535	$407,549
Total number of individuals who received more than $100,000 of reportable compensation from the organization	45	56
Total number of independent contractors who received more than $100,000 of compensation from the organization	25	26

	2011	2012	2013
Statement of Revenue
Total revenue	$55,903,106	$54,279,633	$60,743,107
Contributions, Gifts, Grants and Other Similar Amounts	$23,966,368	$24,818,861	$31,898,109
Program Service Revenue	$24,880,231	$25,970,946	$23,502,728
Other Performing Arts Companies		$25,029,859	$22,343,885
Other Performing Arts Companies		$325,852	$317,312
Other Performing Arts Companies		$390,081	$206,765
900099		$96,037	$74,073
Other Performing Arts Companies		$68,617	$530,693
All other program service revenue		$60,500	$30,000
Other Revenue
Investment income (including dividends, interest, and other similar amounts)	$2,014,099	$2,193,610	$2,201,120
Income from investment of tax-exempt bond proceeds	$0	$0	$0
Royalties	$0	$0	$5,814
Net rental income	$0	$0	$0
Net gain/loss from sales of assets other than inventory	$3,070,143	$44,766	$1,574,232
Gross amount from sales of assets other than inventory (Securities / Other)	$78,954,660 / $0	$33,336,184 / $0	$44,705,192 / $5,895
Less: cost or other basis and sales expenses (Securities / Other)	$75,884,517 / $0	$33,291,418 / $0	$43,129,736 / $7,119
Gain or (loss) (Securities / Other)	$3,070,143 / $0	$44,766 / $0	$1,575,456 / $-1,224
Net income/loss from fundraising events	$-630,356	$-1,402,887	$-775,684
Gross income from fundraising events	$1,066,412	$2,022,326	$921,545
Less: direct expenses	$1,696,768	$3,425,213	$1,697,229
Net income/loss from gaming activities	$24,204	$24,347	$15,370
Gross income from gaming activities	$24,400	$24,447	$23,600
Less: direct expenses	$196	$100	$8,230
Net income/loss from sales of inventory	$987,773	$1,066,720	$582,332
Gross sales of inventory, less returns and allowances	$1,149,940	$1,238,006	$740,861
Less: cost of goods sold	$162,167	$171,286	$158,529
Miscellaneous Revenue	$1,590,644	$1,563,270	$1,739,086
532000		$312,899	$491,014
900099		$437,754	$162,824
900099		$449,179	$858,644
All other revenue		$363,438	$226,604

	2011	2012	2013
Statement of Functional Expenses
Total functional expenses	$60,351,754	$63,813,863	$63,003,591
Grants and other assistance to domestic organizations and domestic governments		$920,701	$943,665
Grants and other assistance to domestic individuals		$0	$0
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals		$0	$0
Benefits paid to or for members		$0	$0
Compensation of current officers, directors, trustees, and key employees	$1,398,496	$1,881,148	$1,642,996
Compensation not included above, to disqualified persons		$0	$0
Other salaries and wages	$26,450,894	$28,676,663	$27,972,116
Pension plan accruals and contributions		$2,325,070	$2,344,019
Other employee benefits		$3,318,738	$3,315,933
Payroll taxes	$2,777,760	$2,607,262	$2,009,927
Fees for services (non-employees)
Management		$0	$0
Legal		$206,443	$165,360
Accounting		$50,700	$0
Lobbying		$0	$0
Professional fundraising services	$138	$732	$396
Investment management fees		$716,806	$877,175
Other		$7,421,683	$8,333,907
Advertising and promotion		$2,387,334	$2,165,286
Office expenses		$771,125	$767,894
Information technology		$331,256	$337,556
Royalties		$459,735	$151,185
Occupancy		$1,655,333	$1,668,073
Travel		$595,813	$692,602
Payments of travel or entertainment expenses for any federal, state, or local public officials		$0	$0
Conferences, conventions, and meetings		$6,524	$22,753
Interest		$1,726,441	$1,728,717
Payments to affiliates		$0	$0
Depreciation, depletion, and amortization		$3,073,157	$3,085,102
Insurance		$523,274	$550,309
Other expenses		$102,734	$179,500
Other expenses		$155,000	$535,068
Other expenses		$663,480	$586,769
Other expenses		$2,923,419	$2,406,940
Other expenses		$313,292	$520,343

	2011	2012	2013
Balance Sheet
Total assets	$274,863,167	$258,235,725	$271,424,707
Cash - non-interest-bearing		$636,241	$261,988
Savings and temporary cash investments		$4,006,883	$1,924,814
Pledges and grants receivable, net		$23,048,771	$30,772,870
Accounts receivable, net		$2,740,293	$2,192,588
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees		$0	$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations		$0	$0
Notes and loans receivable, net		$0	$0
Inventories for sale or use		$12,733	$11,858
Prepaid expenses and deferred charges		$2,687,897	$4,318,214
Land, buildings, and equipment: cost or other basis		$50,540,197	$49,095,181
Investments - publicly traded securities		$68,803,840	$72,697,972
Investments - other securities		$105,745,070	$110,135,622
Investments - program-related		$0	$0
Intangible assets		$0	$0
Other assets		$13,800	$13,600
Total liabilities	$93,605,265	$98,776,448	$99,485,640
Accounts payable and accrued expenses		$7,466,619	$6,983,005
Grants payable		$0	$0
Deferred revenue		$12,637,579	$13,683,529
Tax-exempt bond liabilities	$65,700,000	$65,700,000	$65,700,000
Escrow or custodial account liability		$0	$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons		$0	$0
Secured mortgages and notes payable to unrelated third parties	$0	$0	$0
Unsecured notes and loans payable to unrelated third parties	$0	$0	$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)		$12,972,250	$13,119,106
Total net assets or fund balances	$181,257,902	$159,459,277	$171,939,067
Unrestricted net assets		$92,925,546	$94,527,224
Temporarily restricted net assets		$43,820,199	$54,688,311
Permanently restricted net assets		$22,713,532	$22,723,532
Capital stock or trust principal, or current funds		$0	$0
Paid-in or capital surplus, or land, building, or equipment fund		$0	$0
Retained earnings, endowment, accumulated income, or other funds	$0	$0	$0

Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:	An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Number of organizations supported	0
Sum of amounts of support	$0

	2009 - 2013 Total
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2009 - 2013)
Public Support	$122,488,859
Subtotal Support	$126,121,570
Gifts, grants, contributions, and membership fees received	$126,121,570
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf	$0
The value of services or facilities furnished by a governmental unit to the organization without charge	$0
The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support	$3,632,711
Total Support	$154,222,932
Public Support	$126,121,570
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources	$12,291,012
Net income from unrelated business activities, whether or not the business is regularly carried on	$0
Other income. Do not include gain or loss from the sale of capital assets	$15,810,350
Gross receipts from related activities, etc.	$129,920,700

	2000	2001	2002	2003	2004	2005	2006	2007
Revenue, Expenses, and Changes in Net Assets or Fund Balances
Total revenue	$58,954,348	$51,770,387	$48,138,507	$50,409,032	$56,710,441	$61,255,206	$62,103,618	$82,876,882
Contributions, gifts, grants, and similar amounts received	$17,555,730	$18,335,096	$17,920,225	$23,424,405	$19,339,740	$27,109,330	$28,337,983	$33,573,941
Contributions to donor advised funds							$0	$0
Direct public support	$17,266,230	$18,120,596	$17,528,230	$23,084,883	$19,080,259	$26,746,844	$28,020,195	$33,307,230
Indirect public support	$0	$0	$0	$0	$0	$0	$0	$0
Government contributions (grants)	$289,500	$214,500	$391,995	$339,522	$259,481	$362,486	$317,788	$266,711
Program service revenue including government fees and contracts	$25,805,163	$26,479,785	$27,226,323	$27,373,145	$31,338,986	$28,099,770	$28,136,069	$28,826,623
Membership dues and assessments	$0	$0	$0	$0	$0	$0	$0	$0
Interest on savings and temporary cash investments	$1,241,503	$730,878	$470,449	$298,554	$411,381	$733,925	$1,138,817	$1,152,477
Dividends and interest from securities	$3,494,336	$2,925,613	$1,752,020	$1,479,918	$2,095,695	$2,038,024	$1,506,628	$1,357,365
Net rental income or (loss)	$2,902	$2,796	$3,029	$2,796	$21,398	$30,604	$17,937	$3,204
Gross rents	$2,902	$2,796	$3,029	$2,796	$21,398	$30,604	$17,937	$3,204
Less: rental expenses	$0	$0	$0	$0	$0	$0	$0	$0
Other investment income	$0	$0	$0	$0	$0	$0	$0	$0
Gain or (loss) from sales of assets other than inventory	$9,656,703	$2,149,684	$-531,923	$-3,605,009	$2,711,906	$1,487,753	$1,509,288	$16,392,218
Gross amount from sales of assets other than inventory	$58,039,545	$62,998,245	$41,048,392	$72,246,011	$43,787,812	$102,520,881	$41,477,731	$95,628,269
Less: cost or other basis and sales expenses	$48,382,842	$60,848,561	$41,580,315	$75,851,020	$41,075,906	$101,033,128	$39,968,443	$79,236,051
Net income or (loss) from special events and activities	$7,913	$-79,815	$44,665	$-208,895	$-975,409	$51,228	$-393,788	$-547,330
Gross revenue	$947,706	$1,165,475	$2,270,668	$1,432,827	$1,728,908	$1,701,745	$1,060,814	$1,236,822
Less: direct expenses other than fundraising expenses	$939,793	$1,245,290	$2,226,003	$1,641,722	$2,704,317	$1,650,517	$1,454,602	$1,784,152
Gross profit or (loss) from sales of inventory	$324,411	$381,361	$407,806	$441,279	$542,020	$474,480	$448,008	$566,042
Gross sales of inventory, less returns and allowances	$433,092	$510,838	$548,829	$583,547	$682,631	$635,948	$597,957	$733,736
Less: cost of goods sold	$108,681	$129,477	$141,023	$142,268	$140,611	$161,468	$149,949	$167,694
Other revenue	$865,687	$844,989	$845,913	$1,202,839	$1,224,724	$1,230,092	$1,402,676	$1,552,342
Total expenses	$49,743,532	$51,178,213	$53,243,788	$49,269,720	$63,038,354	$55,027,670	$56,714,416	$58,114,648
Program services	$40,009,020	$42,600,193	$44,730,419	$41,027,912	$53,776,303	$47,204,581	$48,855,675	$49,101,584
Management and general	$7,311,018	$6,058,217	$5,838,441	$5,662,505	$6,398,898	$5,210,750	$5,118,569	$5,826,712
Fundraising	$2,423,494	$2,519,803	$2,674,928	$2,579,303	$2,863,153	$2,612,339	$2,740,172	$3,186,352
Payments to affiliates	$0	$0	$0	$0	$0	$0	$0	$0
Net assets or fund balances at end of year	$136,095,057	$127,674,281	$111,942,994	$132,332,145	$131,490,502	$154,214,164	$170,381,621	$178,537,961
Excess or (deficit) for the year	$9,210,816	$592,174	$-5,105,281	$1,139,312	$-6,327,913	$6,227,536	$5,389,202	$24,762,234
Net assets or fund balances at beginning of year	$145,631,844	$136,095,057	$127,674,281	$111,942,994	$132,332,145	$131,490,502	$154,214,164	$170,381,621
Other changes in net assets or fund balances	$-18,747,603	$-9,012,950	$-10,626,006	$19,249,839	$5,486,270	$16,496,126	$10,778,255	$-16,605,894

	Total	Program services	Management and general	Fundraising
Statement of Functional Expenses (for 2007)
Total functional expenses	$58,114,648	$49,101,584	$5,826,712	$3,186,352
Grants paid from donor advised funds		$0
Other grants and allocations		$865,770
Specific assistance to individuals		$0
Benefits paid to or for members		$0
Compensation of current officers, directors, key employees, etc.	$1,413,540	$290,215	$813,219	$310,106
Compensation of former officers, directors, key employees, etc.	$0	$0	$0	$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)	$0	$0	$0	$0
Salaries and wages of employees not included above	$31,265,496	$27,857,531	$2,167,908	$1,240,057
Pension plan contributions not included above	$1,887,998	$1,596,628	$203,903	$87,467
Employee benefits not included above	$3,735,187	$3,407,142	$205,544	$122,501
Payroll taxes	$2,424,155	$2,118,496	$195,011	$110,648
Professional fundraising fees	$0	$0	$0	$0
Accounting fees	$82,619	$0	$82,619	$0
Legal fees	$76,244	$67,778	$8,466	$0
Supplies	$564,976	$465,520	$84,442	$15,014
Telephone	$117,282	$17,707	$97,226	$2,349
Postage and shipping	$819,993	$735,870	$12,431	$71,692
Occupancy	$3,500,162	$3,254,755	$167,732	$77,675
Equipment rental and maintenance	$525,193	$396,609	$118,016	$10,568
Printing and publications	$989,745	$670,102	$31,132	$288,511
Travel	$401,748	$268,274	$100,161	$33,313
Conferences, conventions, and meetings	$9,304	$1,395	$2,604	$5,305
Interest	$349,667	$54,319	$295,348	$0
Depreciation, depletion, etc.	$2,810,110	$2,609,911	$200,199	$0
Other expenses not covered above	$6,275,459	$4,423,562	$1,040,751	$811,146

	2000	2001	2002	2003	2004	2005	2006	2007
Balance Sheets
Total assets	$223,508,320	$214,280,889	$198,486,506	$220,704,754	$221,087,357	$242,567,629	$260,868,870	$271,222,461
Cash - non-interest-bearing	$488,020	$125,044	$356,080	$0	$650,260	$6,843,380	$1,536,357	$859,207
Savings and temporary cash investments	$22,345,839	$21,191,854	$17,938,928	$22,621,136	$19,559,879	$18,361,236	$22,344,278	$26,451,240
Accounts receivable less allowance for doubtful accounts	$897,278	$813,032	$982,290	$1,297,446	$3,500,758	$1,343,196	$2,137,136	$1,434,177
Pledges receivable less allowance for doubtful accounts	$18,197,167	$12,094,436	$11,494,483	$11,803,598	$8,958,575	$16,285,826	$21,262,516	$28,690,277
Grants receivable	$0	$0	$0	$0	$0	$0	$0	$0
Receivables from current and former officers, directors, trustees, and key employees	$0	$0	$0	$0	$0	$0	$0	$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)							$0	$0
Other notes and loans receivable less allowance for doubtful accounts	$0	$0	$0	$0	$0	$0	$0	$0
Inventories for sale or use	$27,886	$19,613	$22,986	$21,935	$36,348	$29,438	$37,621	$9,860
Prepaid expenses and deferred charges	$1,612,064	$1,733,373	$1,138,921	$2,267,588	$1,424,202	$2,032,318	$1,559,635	$2,013,969
Investments - publicly-traded securities							$74,250,093	$78,772,127
Investments - other securities	$114,470,700	$114,481,543	$104,960,954	$123,279,357	$127,980,251	$140,915,169	$81,674,238	$79,090,307
Investments - land, buildings, and equipment less accumulated depreciation	$0	$0	$0	$0	$0	$0	$0	$0
Investments - other	$0	$0	$0	$0	$0	$0	$0	$0
Land, buildings, and equipment less accumulated depreciation	$65,222,262	$63,808,558	$61,584,864	$59,406,514	$58,969,394	$56,748,796	$55,740,475	$53,813,542
Other assets, including program-related investments	$247,104	$13,436	$7,000	$7,180	$7,690	$8,270	$326,521	$87,755
Total liabilities	$87,413,263	$86,606,608	$86,543,512	$88,372,609	$89,596,855	$88,353,465	$90,487,249	$92,684,500
Accounts payable and accrued expenses	$6,112,482	$5,219,475	$5,784,897	$6,259,124	$6,327,146	$6,459,124	$6,811,022	$7,555,303
Grants payable	$0	$0	$0	$0	$0	$0	$829,769	$0
Deferred revenue	$19,100,781	$18,430,384	$17,677,959	$18,984,555	$17,672,089	$16,882,165	$17,663,550	$17,246,372
Loans from officers, directors, trustees, and key employees	$0	$0	$0	$0	$0	$0	$0	$0
Tax-exempt bond liabilities	$62,200,000	$62,200,000	$62,200,000	$62,200,000	$62,200,000	$62,200,000	$62,200,000	$62,200,000
Mortgages and other notes payable	$0	$0	$0	$0	$2,622,230	$2,047,876	$1,445,997	$817,208
Other liabilities	$0	$756,749	$880,656	$928,930	$775,390	$764,300	$1,536,911	$4,865,617
Total liabilities and net assets/fund balances	$223,508,320	$214,280,889	$198,486,506	$220,704,754	$221,087,357	$242,567,629	$260,868,870	$271,222,461
Total net assets or fund balances	$136,095,057	$127,674,281	$111,942,994	$132,332,145	$131,490,502	$154,214,164	$170,381,621	$178,537,961

	2000	2001	2002	2003	2004	2005	2006	2007
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
Total revenue	$58,954,348	$51,770,387	$48,138,507	$50,409,032	$56,710,441	$61,255,206	$62,103,618	$82,876,882
Total revenue, gains, and other support per audited financial statements	$41,206,330	$46,627,060	$41,036,744	$71,436,671	$64,964,424	$80,554,755	$76,543,154	$68,802,462
Other expenses	$-17,688,605	$-5,084,954	$-7,066,207	$21,089,400	$8,387,454	$19,564,672	$14,651,353	$-13,824,951
Net unrealized gains on investments	$-18,747,603	$-6,474,091	$-9,479,524	$19,941,499	$4,875,226	$16,545,514	$12,315,092	$-14,363,671
Donated services and use of facilities	$0	$0	$29,250	$14,000	$23,200	$1,160,500	$680,002	$773,631
Recoveries of prior year grants	$0	$0	$0	$0	$0	$0	$0	$0
Other	$1,058,998	$1,389,137	$2,384,067	$1,133,901	$3,489,028	$1,858,658	$1,656,259	$-234,911
Other revenue	$59,413	$58,373	$35,556	$61,761	$133,471	$265,123	$211,817	$249,469
Investment expenses	$0	$0	$0	$0	$0	$219,423	$211,817	$242,490
Other	$59,413	$58,373	$35,556	$61,761	$133,471	$45,700	$0	$6,979

	2000	2001	2002	2003	2004	2005	2006	2007
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
Total expenses	$49,743,532	$51,178,213	$53,243,788	$49,269,720	$63,038,354	$55,027,670	$56,714,416	$58,114,648
Total expenses and losses per audited financial statements	$50,743,117	$55,047,836	$56,768,031	$51,047,520	$65,806,067	$57,831,093	$60,375,697	$60,646,122
Other revenue	$1,058,998	$3,927,996	$3,559,799	$1,839,561	$2,901,184	$3,022,846	$3,873,098	$2,773,964
Donated services and use of facilities	$0	$0	$29,250	$14,000	$23,200	$1,160,500	$680,002	$773,631
Prior year adjustments	$0	$0	$0	$0	$0	$0	$0	$0
Losses	$0	$2,538,859	$1,146,482	$691,660	$27,084	$0	$1,536,911	$0
Other	$1,058,998	$1,389,137	$2,384,067	$1,133,901	$2,850,900	$1,862,346	$1,656,185	$2,000,333
Other expenses	$59,413	$58,373	$35,556	$61,761	$133,471	$219,423	$211,817	$242,490
Investment expenses	$0	$0	$0	$0	$0	$219,423	$211,817	$242,490
Other	$59,413	$58,373	$35,556	$61,761	$133,471	$0	$0	$0

Average hours per week devoted to position	Compensation	Contributions to employee benefit plans & deferred compensation plans	Expense account and other allowances
Current Officers, Directors, Trustees, and Key Employees
40	$252,843	$37,372	$0
40	$283,250	$26,856	$0
40	$288,840	$39,262	$0
40	$424,715	$58,202	$2,200

Total number of officers, directors, and trustees permitted to vote on organization business at board meetings	110
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?	Yes
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?	No
Does the organization have a written conflict of interest policy?	Yes

Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?	Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?	No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?	Yes
Direct and indirect political expenditures	$0
Did the organization file Form 1120-POL for this year?	No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members	$0
Section 162(e) lobbying and political expenditures	$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices	$0
Taxable amount of lobbying and political expenditures	$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions	$0
Gross receipts for public use of club facilities	$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?	No
Amount of tax imposed on the organization during the year under: section 4911	$0
Amount of tax imposed on the organization during the year under: section 4912	$0
Amount of tax imposed on the organization during the year under: section 4955	$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?	No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958	$0
Amount of tax above, reimbursed by the organization	$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?	No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?	No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?	No
Number of employees employed in the pay period that includes March 12, 2006	649

	Unrelated business income		Excluded by section 512, 513, or 514		Related or exempt function income
Analysis of Income-Producing Activities (for 2007)
	Business code	Amount	Exclusion code	Amount	Related or exempt function income
Total		$419,871		$19,613,767	$29,269,303
Program service revenue
Program service revenue 1	000000	$0	00	$0	$27,431,991
Program service revenue 2	000000	$0	00	$0	$354,231
Program service revenue 3	000000	$0	00	$0	$325,437
Program service revenue 4	000000	$0	00	$0	$238,875
Program service revenue 5	000000	$0	Royalty income excluded by section 512(b)(2)	$113,467	$362,622
		$0	Royalty income excluded by section 512(b)(2)	$113,467	$0
		$0		$0	$88,506
		$0		$0	$354,231
		$0		$0	$238,875
		$0		$0	$165,172
		$0		$0	$108,944
		$0		$0	$325,437
		$0		$0	$27,431,991
Medicare/Medicaid payments	000000	$0	00	$0	$0
Fees and contracts from government agencies	000000	$0	00	$0	$0
Membership dues and assessments	000000	$0	00	$0	$0
Interest on savings and temporary cash investments	000000	$0	Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)	$1,152,477	$0
Dividends and interest from securities	000000	$0	Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)	$1,357,365	$0
Net rental income or (loss) from real estate
debt-financed property	Lessors of other real estate property	$3,204	00	$0	$0
not debt-financed property	000000	$0	00	$0	$0
Net rental income or (loss) from personal property	000000	$0	00	$0	$0
Other investment income	000000	$0	00	$0	$0
Gain or (loss) from sales of assets other than inventory	000000	$0	Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))	$16,390,989	$1,229
Net income or (loss) from special events	000000	$0	Income from an activity that is not regularly carried on (section 512(a)(1))	$-547,330	$0
Gross profit or (loss) from sales of inventory	Limited-service eating places	$95,292	Income from an activity that is not regularly carried on (section 512(a)(1))	$413,972	$56,778
Other revenue	Rental and leasing services	$321,375	Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))	$732,827	$498,140

EIN of corporation, partnership, or disregarded entity	Percentage of ownership interest	Total income	End-of-year assets
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
000000000	0%	$0	$0
000000000	0%	$0	$0
000000000	0%	$0	$0
000000000	0%	$0	$0

Compensation	Contributions to employee benefit plans & deferred compensation	Expense account and other allowances
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
$171,535	$46,315	$0
$160,189	$43,251	$0
$153,710	$41,502	$0
$137,142	$37,028	$0
$133,141	$35,948	$0

Total number of other employees paid over $50,000	235

Total number of other employees paid over $50,000

235

Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities	$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?	No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?	No
Did the organization maintain any donor advised funds?	No
Did the organization make any taxable distributions under section 4966?	No
Did the organization make a distribution to a donor, donor advisor, or related person?	No
The total number of donor advised funds owned at the end of the tax year	$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year	$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts	$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year	$0

Reason for Non-Private Foundation Status
The organization is not a private foundation because it is	Organization that receives a substantial part of its support from a governmental unit or from the general public

	1999	2000	2001	2002	2003	2004	2005	2006
Support Schedule
Total	$49,952,599	$50,007,564	$49,808,079	$45,623,448	$54,396,517	$53,366,388	$53,542,874	$54,623,346
Gifts, grants, and contributions received	$18,072,642	$17,841,452	$18,875,042	$16,249,145	$22,678,091	$22,010,661	$19,738,390	$23,361,367
Membership fees received	$0	$0	$0	$0	$0	$0	$0	$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose	$27,351,287	$26,637,383	$26,460,688	$26,747,728	$29,541,896	$28,074,032	$30,507,132	$28,334,914
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975	$4,336,131	$5,003,119	$4,037,608	$2,377,585	$1,910,142	$2,852,693	$3,036,312	$2,597,640
Net income from unrelated business activities not included above	$0	$0	$0	$0	$0	$0	$0	$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf	$0	$0	$0	$0	$0	$0	$0	$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge	$0	$0	$0	$0	$0	$0	$0	$0
Other income	$192,539	$525,610	$434,741	$248,990	$266,388	$429,002	$261,040	$329,425

Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures	$0
Total lobbying expenditures	$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)	$0
Total lobbying expenditures to influence a legislative body (direct lobbying)	$0
Other exempt purpose expenditures	$0
Lobbying nontaxable amount	$0
Grassroots nontaxable amount	$0

	Income	Expenses	Net
Unrelated Trade or Business Income (for 2009)
Total	$331,190	$42,402	$288,788
Gross receipts or sales less returns and allowances	$27,850	$0	$0
Cost of goods sold	$23,931	$0	$0
Gross profit	$254,571	$0	$25,457
Capital gain net income	$0	$0	$0
Net gain	$0	$0	$0
Capital loss deduction for trusts	$0	$0	$0
Income (loss) from partnerships and S corporations	$0	$0	$0
Rent income	$0	$0	$0
Unrelated debt-financed income	$0	$0	$0
Interest, annuities, royalties, and rents from controlled organizations	$0	$0	$0
Investment income of a section 501(c)(7), (9), or (17) organization	$0	$0	$0
Exploited exempt activity income	$0	$0	$0
Advertising income	$64,025	$42,402	$21,623
Other income	$241,708	$0	$241,708

Deductions Not Taken Elsewhere (for 2009)
Total deductions	$413,051
Compensation of officers, directors, and trustees	$0
Salaries and wages	$312,699
Repairs and maintenance	$0
Bad debts	$0
Interest	$0
Taxes and licenses	$14,112
Charitable contributions	$0
Depreciation	$0
Depletion	$0
Contributions to deferred compensation plans	$0
Employee benefit programs	$0
Excess exempt expenses	$0
Excess readership costs	$21,623
Other deductions	$64,617
Unrelated business taxable income	$-124,263
Unrelated business taxable income before net operating loss deduction	$-124,263
Net operating loss deduction	$0
Unrelated business taxable income before specific deduction	$-124,263
Specific deduction	$0

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Id	Name	Address	State	Established	Total Income
Organizations performing similar types of work
1	Lyric Opera Of Chicago	20 N Wacker Dr, Chicago, IL 60606-2806	IL	1957-07	$26,831,162
2	Opera Theatre Highland Park	Highland Park, IL 60035	IL		$86,966
3	San Diego Opera Association	233 A St Ste 500, San Diego, CA 92101-4095	CA	1959-10	$15,463,585
4	Sarasota Opera Association Inc	50 Central Avenue, Sarasota, FL 34236-5746	FL	1970-11	$11,228,400
5	The Atlanta Opera Inc	1575 Northside Dr Nw Ste 350, Atlanta, GA 30318-4210	GA	1979-11	$9,528,938
6	Skylight Music Theatre Corp	158 North Broadway, Milwaukee, WI 53202-6037	WI	1963-07	$3,371,334
7	Chicago Opera Theater	70 E Lake St Ste 415, Chicago, IL 60601-7646	IL	1974-10	$3,033,764
8	Tulsa Opera Inc	1610 S Boulder Ave, Tulsa, OK 74119-4408	OK	1960-12	$2,139,654
9	Light Opera Works Inc	516 4th St, Wilmette, IL 60091-2829	IL	1981-06	$1,486,140
10	Shreveport Opera	212 Texas St Ste 101, Shreveport, LA 71101-3249	LA	1962-04	$1,039,334
11	Toledo Opera Association	425 Jefferson Ave Ste 601, Toledo, OH 43604-1080	OH	1961-08	$910,856
12	Sacramento Opera Association	3811 J St, Sacramento, CA 95816-5520	CA	1966-01	$878,955
13	Washington Concert Opera	2437 15th St Nw, Washington, DC 20009-4101	DC	1986-10	$774,467
14	San Diego Opera Association Endowment Trust	PO BOX 804358, Chicago, IL 60680-4105	IL	1992-07	$373,970
15	Mpaact, C-O Reginald Lawrence	PO BOX 10039, Chicago, IL 60610-0039	IL	1993-07	$200,403
16	Lopera Piccola	15 S Fairview Ave Ste 1, Park Ridge, IL 60068-4034	IL	1998-10	$178,522
17	Lithuanian Opera Company	16w306 Hillside Ln, Burr Ridge, IL 60527-6201	IL	1977-11	$22,020
18	Opera Illinois	202 Ne Madison Ave Ste 202, Peoria, IL 61602-7108	IL	1973-05	$4,610
19	American Opera Group	122 N Austin Blvd 2, Oak Park, IL 60302	IL	1996-02	$0
20	Muddy River Opera Co	200 N 8th St Ste 111, Quincy, IL 62301	IL	1990-10	$0

Number of organizations performing similar types of work

Alaska	1
Alabama	2
Arizona	1
California	45
Colorado	3
Connecticut	8
District of Columbia	3
Delaware	1
Florida	15
Georgia	5
Hawaii	1
Iowa	2
Idaho	2
Illinois	11
Indiana	2
Kansas	2
Louisiana	3
Massachusetts	11
Maryland	4
Maine	2
Michigan	3
Minnesota	4
Missouri	4

Mississippi	2
Montana	2
North Carolina	4
North Dakota	2
Nebraska	1
New Hampshire	5
New Jersey	7
New Mexico	2
Nevada	1
New York	31
Ohio	10
Oklahoma	2
Oregon	4
Pennsylvania	9
South Carolina	3
Tennessee	3
Texas	10
Utah	2
Virginia	4
Vermont	1
Washington	4
Wisconsin	7
West Virginia	1

Total

252

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