Overview
What is Opera Memphis Endowment Foundation?
The Opera Memphis Endowment Foundation is a nonprofit organization situated in Memphis, Tennessee, specifically at 19 S Florence St. Their primary mission is to support Opera Memphis, Inc, promoting the growth of artistic and musical talents for the cultural education and entertainment of the public at large. This support enables Opera Memphis to thrive, contributing to the enrichment of the community's cultural landscape.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning a Two-Star out of Four Star rating.
Opera Memphis Endowment Foundation has received a relatively low rating, reflecting some critical areas of concern, particularly in governance and transparency. The organization scores well in areas like having a fully independent board and managing its assets effectively, indicating a strong commitment to accountability in those aspects. However, the absence of key policies, such as a conflict of interest policy and a whistleblower policy, suggests potential vulnerabilities in its governance practices.
The foundation has a high program expense ratio of 89.74%, demonstrating a strong focus on its mission-related activities. This is a positive indicator of its commitment to utilizing funds effectively for its programs. Despite its financial strengths, the lack of certain essential policies could undermine trust and confidence among stakeholders. Additionally, the missing information on its website and tax form may limit transparency, which is crucial for building donor and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Opera Memphis Endowment Foundation legitimate?
Opera Memphis Endowment Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Opera Memphis Endowment Foundation 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: $0
For more financial information, click here
What is the mission statement of Opera Memphis Endowment Foundation?
The Opera Memphis Endowment Foundation aims to support Opera Memphis, Inc., contributing to the advancement of artistic and musical talents. Their primary objective is to provide cultural education and entertainment for the general public. Through their grants, they assist Opera Memphis, Inc. in fostering and nurturing artistic abilities in music. This endeavor ultimately serves to enrich the cultural experiences of a wide audience.
Who is the CEO of Opera Memphis Endowment Foundation?
Edward Canty is the Trustee of Opera Memphis Endowment Foundation.
What is the revenue of Opera Memphis Endowment Foundation?
Opera Memphis Endowment Foundation's revenue in 2022 was $19,628.
Who are the executives of Opera Memphis Endowment Foundation and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $100,227
- Other: $15,888
Where can I find the form 990 for Opera Memphis Endowment Foundation?
Opera Memphis Endowment Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Opera Memphis Endowment Foundation
The Opera Memphis Endowment Foundation is dedicated to supporting Opera Memphis, Inc. in its mission to foster the growth of artistic and musical talents. This nonprofit organization aims to contribute to the cultural education and entertainment of the general public. By providing grants to Opera Memphis, Inc., the Foundation helps in nurturing and developing musical talents, ultimately enriching the cultural landscape for all.
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Impact
October, 2024
The Opera Memphis Endowment Foundation plays a crucial role in enhancing the cultural landscape of Memphis by supporting Opera Memphis, Inc. Its impact is evident in the development of artistic and musical talents, fostering a rich environment for cultural education and entertainment. By providing grants, the foundation helps facilitate various programs and performances that not only showcase opera but also educate and engage the community. This support ensures that a diverse audience can experience and appreciate the art form, enriching the overall cultural fabric of the city. Through its efforts, the foundation strengthens the connection between the arts and the general public, promoting a deeper understanding of music and artistic expression in the region.
This information is meant to be a general summary of Opera Memphis Endowment Foundation. 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 2022.
- Investment Income: $19,628
- Gross Receipts: $19,628
Assets and Liabilities:
- Total Assets: $316,791
- Total Liabilities: $0
- Net Assets: $316,791
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Organization Details
Founding Year
1994
Phone
(901) 257-3100Principal Officer
Edward Canty
Main Address
19 S FLORENCE ST, MEMPHIS, TN, 38104
NTEE Category
Code: A6A - Arts
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