Arts, Culture & Humanities (A6A0) IRS Verified DX Registered 990 on File

SAN FRANCISCO OPERA ASSOCIATION

EIN: 94-0836240 · SAN FRANCISCO, CA 94102-4509 · United States · FY 2025 Data

3 out of 5 49 / 100 Based on 2+ years of filings

Financial strength (30%) 71/100

Reliability (20%) 55/100

Effectiveness (25%) 66/100

Impact (25%) No data yet

Financial data: FY 2025 · Scored 9/13/2026

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CharityAI™ Score

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Financial Overview — FY 2025

$82.8M

Total Revenue

$89.1M

Total Expenses

$329.8M

Net Assets

941

Employees

Revenue Sources

Expense Breakdown

Program Expense Ratio 74.8%

Fundraising Efficiency 2893.0%

Operating Reserve 44.43x

Liability-to-Asset 9.9%

Revenue Diversification 59.2%

Executive Compensation $3.0M

Compared with Peers

FY 2025

Compared with 273 similar organizations (United States, Arts, Culture & Humanities, $10M–$100M in expenses), FY 2025.

This organization Middle half of peers (P25–P75) Peer median

Ratio	This org	Peer median	Position (P10 → P90)
Program expense ratio Program expenses / total expenses · higher is better	74.8%	79.1%	P10P90	Below median
Admin expense ratio Management and general / total expenses · lower is better	19.2%	13.3%	P10P90	Bottom quarter
Fundraising expense ratio Fundraising expenses / total expenses · lower is better	6.1%	6.4%	P10P90	Above median
Fundraising efficiency Fundraising expenses / gross fundraising income · lower is better	2893.0%	763.3%	P10P90	Bottom quarter
Operating reserve Months of expenses covered by net assets · higher is better	44.4 mo	30.8 mo	P10P90	Above median
Liabilities to assets Total liabilities / total assets · lower is better	9.9%	14.0%	P10P90	Above median
Revenue concentration Share of revenue from the largest source · lower is better	59.2%	65.5%	P10P90	Above median
Revenue growth Year over year revenue growth	-20.3%	8.7%	P10P90
Expense growth Year over year expense growth	-4.6%	4.8%	P10P90
Surplus margin Surplus as a share of revenue	-7.6%	5.3%	P10P90

Financial History

Year	Revenue	Expenses	Net Assets	Program %	Staff
2025	$82.8M	$89.1M	$329.8M	74.8%	941
2024	$103.9M	$93.4M	$329.2M	76.7%	971
2023	$85.3M	$98.4M	$312.4M	76.4%	913
2022	$88.4M	$68.6M	$314.5M	73.1%	717
2021	$138.0M	$52.2M	N/A	—	603

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Organization Details

EIN: 94-0836240
State: CA
City: SAN FRANCISCO
ZIP: 94102-4509
Classification: A6A0
Category: Arts, Culture & Humanities
Rating: 3★
Coverage: A
Last Updated: Aug 2026
IRS Ruling Year
Foundation Code: 15
Form 990: On File

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CharityAI™ rates charities from 0 to 100 using public filings (IRS Form 990 and the equivalent registries outside the US) together with the information the charity itself provides on DonationX. Ratings are recalculated every quarter, without human bias, and shown as stars.

Four pillars

Financial strength30%

Program expense ratio, fundraising efficiency, operating reserves, liabilities and revenue diversification, compared with similar organizations.

Reliability20%

Standing with the registry, filing history, verification and how complete the profile is.

Effectiveness25%

How much goes to programs and how consistently the organization delivers them.

Impact25%

The outcomes the charity reports on DonationX: people served, cost per service and results.

Stars

★★★★★ 80–100 ★★★★☆ 60–79 ★★★☆☆ 40–59 ★★☆☆☆ 20–39 ★☆☆☆☆ 1–19

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The coverage grade (A to D) says how much filing data the score rests on; NONE means there is not enough to rate.
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"Compared with peers" places the charity's key ratios against organizations of the same country, sector and size.

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