Overview
What is Fairmont Opera House Inc?
Fairmont Opera House Inc, located in Fairmont, Minnesota, is a nonprofit organization with a significant mission. Their primary focus is on historic preservation and serving as a venue for the general public, providing entertainment and cultural experiences. With a modest workforce of eight dedicated individuals, this organization plays a vital role in maintaining the heritage of their community while offering enjoyment for its residents. The specific activities or mission details can be found in further sections of the provided information.
Official website here: www.fairmontoperahouse.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 76% (Three-Star out of Four Stars)
Fairmont Opera House Inc has received a Three-Star rating from Charity Navigator, reflecting a solid performance primarily in accountability and finance. The organization demonstrates strong governance with a fully independent board, scoring full points for both the majority of independent board members and independent board size. Additionally, they maintain a low liabilities to assets ratio, indicating good fiscal health.
However, the organization has notable gaps in its policies, as it lacks a conflict of interest policy, a whistleblower policy, and a document retention and destruction policy. These shortcomings impacted their overall score, highlighting areas where they could improve governance practices. Furthermore, while their program expense ratio is commendable at 77.40%, the absence of essential policies could be seen as a potential risk to their operational integrity.
Overall, while Fairmont Opera House Inc shows strengths in financial management and board governance, addressing their policy deficiencies could enhance their overall effectiveness and accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Fairmont Opera House Inc legitimate?
Fairmont Opera House Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fairmont Opera House Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $117,906
For more financial information, click here
Official website here: www.fairmontoperahouse.com
What is the mission statement of Fairmont Opera House Inc?
The Fairmont Opera House Inc is committed to preserving historical significance while serving as a venue to offer shows for the general public. Its mission primarily revolves around the preservation of heritage and providing entertainment opportunities for the public at large. By maintaining its historical character, the opera house contributes to cultural preservation, and by hosting shows, it caters to the entertainment needs of the community.
Official website here: www.fairmontoperahouse.com
Who is the CEO of Fairmont Opera House Inc?
Blake Potthoff is the Chair of Fairmont Opera House Inc.
Official website here: www.fairmontoperahouse.com
What is the revenue of Fairmont Opera House Inc?
Fairmont Opera House Inc's revenue in 2023 was $478,877.
Official website here: www.fairmontoperahouse.com
Who are the executives of Fairmont Opera House Inc and what are their salaries?
The average compensation at Fairmont Opera House Inc during 2023 was $14,738. There are 8 employees at Fairmont Opera House Inc.
Here are 7 key members and their salaries:
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Official website here: www.fairmontoperahouse.com
Where can I find the form 990 for Fairmont Opera House Inc?
Fairmont Opera House Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.fairmontoperahouse.com
Learn more at the official website: www.fairmontoperahouse.com
Mission Statement of Fairmont Opera House Inc
Fairmont Opera House Inc is dedicated to the preservation of a historic venue, serving as a stage for shows intended for the general public. Their mission is centered around the conservation of this historical building, while simultaneously offering a platform for various performances to be enjoyed by the community.
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Impact
July, 2024
Fairmont Opera House Inc has a significant impact on the community by preserving history and providing a venue for the general public to enjoy a variety of shows. Through its historic preservation efforts, the organization contributes to the cultural richness of Fairmont, Minnesota. By offering diverse performances and events, Fairmont Opera House Inc enriches the arts scene in the region and creates opportunities for the community to engage with different forms of artistic expression. The organization's commitment to providing accessible entertainment for the public contributes to the overall well-being and vibrancy of the city.
This information is meant to be a general summary of Fairmont Opera House Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $48,100
- Program Service Revenue: $106,042
- Gross Receipts: $486,216
Assets and Liabilities:
- Total Assets: $2,107,226
- Total Liabilities: $133,723
- Net Assets: $1,973,503
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TICKET REVENUE
Revenue
$68,535
SPONSORSHIPS
Revenue
$15,968
FACILTIES RENTAL
Revenue
$11,187
CIVIC SUMMER THEATER
Revenue
$8,314
PRODUCTIONS
Revenue
$2,038
Organization Details
Founding Year
1980
Phone
(507) 238-4900Principal Officer
Blake Potthoff
Main Address
PO BOX 226, FAIRMONT, MN, 56031
Website
www.fairmontoperahouse.comNTEE Category
Code: A610 - Arts
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