2019
2018
EXPENSES
REVENUE, SUPPORT, AND GAINS
2019
Opera season/admissions
$2,703,354
$2,959,566
Contributions and grants
18,000,455
6,598,664
Other
363,382
802,570
Net investment return
857,323
541,101
(599,046)
468,626
21,325,468
11,370,527
Change in value of trusts Total revenue, support, and gains
EXPENSES Program services
9,551,773
10,192,267
Administrative and general
1,847,481
1,704,148
Fundraising expenses
1,395,274
1,130,865
12,794,528
13,027,280
CHANGE IN NET ASSETS
8,530,940
(1,656,753)
NET ASSETS, BEGINNING OF YEAR
21,788,318
23,445,071
$30,319,258
$21,788,318
Total expenses
NET ASSETS, END OF YEAR
• • •
Program services
75%
Administrative and general
14%
Fundraising expenses
11%
2018
• • •
Program services
78%
Administrative and general
13%
Fundraising expenses
9%
For complete year-end audit results, please visit mnopera.org/annual-report.
mnopera.org | 17
