TOTAL REVENUE - FISCAL 2025
$82,803,363
Down 20.3% from $103,898,267 in fiscal 2024.
San Francisco Opera Association
San Francisco, California - EIN 94-0836240 - Latest filing: fiscal 2025 (Aug 1, 2024 - Jul 31, 2025)
HOW TO READ THIS PAGE
How to read this page: every figure below is from the fiscal-2025 Form 990, filed Jun 10, 2026. People named below are shown as reported on the fiscal-2025 Form 990, filed Jun 10, 2026 - the filing is a snapshot of that fiscal year, not a list of current officeholders.
THE FILING IN ONE PARAGRAPH
San Francisco Opera Association reported $82,803,363 in revenue and $89,075,957 in expenses in fiscal 2025, a deficit of $6,272,594 for the year. Program services took $66,593,636 of expenses, or 74.8%. The organization closed the year with $329,814,888 in net assets - about 44.4 months of expenses at the fiscal-2025 spending level.
At a Glance - Fiscal 2025
All values are fiscal 2025 unless a tile says otherwise.
TOTAL EXPENSES - FISCAL 2025
$89,075,957
Revenue minus expenses: -$6,272,594 in fiscal 2025.
PROGRAM EXPENSE SHARE - FISCAL 2025
74.8%
$66,593,636 of $89,075,957 went to program services.
NET ASSETS - END OF FISCAL 2025
$329,814,888
Total assets $365,835,575 minus total liabilities $36,020,687.
TOP EXECUTIVE PAY - FISCAL 2025
$774,969
Matthew Shilvock, Ceo/general Director, as reported on the fiscal-2025 Form 990, filed Jun 10, 2026. Total across all compensation columns.
PEOPLE REPORTED - FISCAL 2025
941 Employees
Plus 424 volunteers reported on the fiscal-2025 Form 990.
Money In, Money Out - Fiscal 2025
Revenue and expenses as reported on the fiscal-2025 Form 990, filed Jun 10, 2026. Donated goods are separated from cash so food and supply donations do not read as cash income.
Where the Money Went - Fiscal 2025
Management and general is the figure reported on the filing (Part IX total); where a filing does not carry it, it is computed as the residual of total expenses minus program and fundraising expenses. Cost to raise a dollar in fiscal 2025: $0.11 - $5,396,210 in fundraising expenses divided by $48,977,065 in total contributions. On cash contributions only: $0.12.
Where the Money Came From - Fiscal 2025
| Source | Fiscal 2025 |
|---|---|
| Total Contributions | $48,977,065 |
| Of Which Cash Contributions | $43,436,782 |
| Of Which Donated Goods (Noncash) | $5,540,283 |
| Fundraising Events | $2,285,741 |
| Related Organizations | $49,500 |
| Government Grants | $425,467 |
| All Other Contributions | $46,216,357 |
| Program Service Revenue | $16,161,213 |
| Investment Income | $18,561,725 |
| Other Revenue | -$896,640 |
| Total Revenue (All Sources) | $82,803,363 |
Reserves and Balance Sheet - Fiscal 2025
Reserves and Runway
44.4 Months
of reserves - $329,814,888 in net assets at the end of fiscal 2025, divided by average monthly expenses of about $7,422,996 in fiscal 2025.
Net assets can include donor-restricted funds, buildings and other assets that cannot be spent like cash. Treat months of reserves as a scale measure, not as cash in the bank.
Balance Sheet - End of Fiscal 2025
| Total Assets | $365,835,575 |
| Total Liabilities | $36,020,687 |
| Liabilities as Share of Assets | 9.8% |
| Net Assets | $329,814,888 |
Leadership Pay - Fiscal 2025
Pay is the summed total across all compensation columns on the Form 990 - pay from the organization, pay from related organizations, and other compensation. People are shown as reported on the fiscal-2025 Form 990, filed Jun 10, 2026.
| Name and Title, as Reported | Total Pay - Fiscal 2025 | Share of Expenses |
|---|---|---|
| Matthew Shilvock - Ceo/general Director | $774,969 | 0.87% |
| Eun Sun Kim - Caroline H. Hume Music Director | $590,337 | 0.66% |
| Michael Simpson - Managing Director: Admin/cfo | $433,932 | 0.49% |
| Douglas Mitchell - Head Of Audio/video | $363,232 | 0.41% |
| Georgi Kelly - Chief Philanthropy Officer | $357,559 | 0.40% |
| Jennifer Good - Managing Director: Production | $340,818 | 0.38% |
| David Hatch - Head Of Carpentry | $333,071 | 0.37% |
| Lori Harrison - Head Of Properties | $330,793 | 0.37% |
| Gregory Henkel - Managing Director: Artistic | $330,561 | 0.37% |
| Dawn Dunlop - Chief People Officer | $292,783 | 0.33% |
| Troy Smith - Chief Marketing Officer | $286,384 | 0.32% |
| Tabitha Rowell - Director Of Development | $276,863 | 0.31% |
| Theresa Von Klug - Chief Operating Officer | $272,084 | 0.31% |
| Lee Helms - Former Dir. Of Innovation Programs | $211,459 | 0.24% |
The full Part VII table lists every officer, director, trustee and key employee named on the filing, with hours and the same summed total. Compensation is reported for the calendar year ending within the fiscal year, per the Form 990.
Board and Governance - Fiscal 2025
Board and policy answers as reported on the fiscal-2025 Form 990, filed Jun 10, 2026.
Board Roster - as Reported on the Fiscal-2025 Form 990
71 voting members, 70 independent - independence count as reported on the fiscal-2025 Form 990.
| Name, as Reported | Role, as Reported |
|---|---|
| Matthew Shilvock | Ceo/general Director |
| Eun Sun Kim | Caroline H. Hume Music Director |
| Michael Simpson | Managing Director: Admin/cfo |
| Douglas Mitchell | Head Of Audio/video |
| Georgi Kelly | Chief Philanthropy Officer |
| Jennifer Good | Managing Director: Production |
| David Hatch | Head Of Carpentry |
| Lori Harrison | Head Of Properties |
| Gregory Henkel | Managing Director: Artistic |
| Dawn Dunlop | Chief People Officer |
| Troy Smith | Chief Marketing Officer |
| Tabitha Rowell | Director Of Development |
| Theresa Von Klug | Chief Operating Officer |
| Lee Helms | Former Dir. Of Innovation Programs |
| Barbara A Wolfe | Officer Of The Board-Chair |
| Franklin Pitch Johnson Jr | Officer Of The Board-Chair Emeritus |
| John A Gunn | Officer Of The Board-Chair Emeritus |
| Keith B Geeslin | Officer Of The Board-Vice Chair |
| Jack Calhoun | Officer Of The Assn-President |
| George H Hume | Officer Of The Assn-Treasurer |
| Karen J Kubin | Officer Of The Assn-Secretary |
| Susan Anderson-Norby | Director |
| Claire Wrenn Bobrow | Director |
| Romana Bracco | Director |
| Jennifer Brahm | Director |
| Anne Casscells | Director |
| Naniette Coleman | Director |
| Dr William M Coughran Jr | Director |
| Valerie Crane Dorfman | Director |
| James Cross | Director/merola Opera Prog President |
| Arif Damji | Director |
| Jayne C Davis | Director |
| Jerome Dodson | Director |
| Carol Pucci Doll | Director |
| Dixon Doll | Director |
| Robert A Ellis | Director |
| Lisa Erdberg | Director |
| Peter Fenton | Director |
| Sarah Fenton | Director |
| Anna Fieler | Director |
| Margarita Gandia | Director |
| Susan Graham Johnston | Director |
| Louise Gund | Director |
| Omar Guo | Director/bravo! President |
| Gretchen Wolfe Hansen | Director |
| Jane M Hartley | Director |
| John Hendrickson | Director |
| Doreen Woo Ho | Director |
| Charles Edward Hudson III | Director |
| Sylvia Hughes | Director |
| Timothy F Kahn | Director |
| Choongja Maria Kahng | Director |
| Lawrence A Kern | Director |
| Mark R Kroll | Director |
| Courtney Labe | Director/guild Board President |
| Sylvia R Lindsey | Director |
| Mrs Cynthia Snorf Livermore | Director |
| Hon Richard C Livermore | Director |
| Susan Marineau | Director |
| J Patterson McBaine | Director |
| Patrick McCabe | Director |
| Helen Meyer | Director |
| Karl O Mills | Director |
| Justin Moore | Director |
| Maryam Muduroglu | Director |
| Nancy Mueller | Director |
| Janet Napolitano | Director |
| Ben Nelson | Director |
| J Boyce Nute | Director |
| Bernard Osher | Director |
| Jason Phillips | Director |
| Anne Brandeis Popkin | Director |
| Isabel Rhee | Director |
| Richard J Rigg PHD | Director |
| Cp Russell | Director |
| Bill Russell-Shapiro | Director |
| Jack Schafer | Director |
| Ruth A Short | Director |
| Mrs Dianne Marie Taube | Director |
| Soo Venkatesan | Director |
| Ms Barbara Moller Ward | Director |
| Mrs Diane B Wilsey | Director |
| Melinda Yee Franklin | Director |
| S Shariq Yosufzai | Director |
Governance Policy Flags - Fiscal 2025
Conflict of Interest PolicyYes - Reported
Whistleblower PolicyYes - Reported
Document Retention PolicyYes - Reported
Audited Financial StatementsYes - Reported
Audit CommitteeYes - Reported
Board Size and Independence71 voting / 70 independent
Flags report what the organization answered on the Form 990. A Yes means the policy was reported on the filing; it is not an outside review of how the policy works in practice.
Grants - Fiscal 2025
Grants Made - Fiscal 2025
This organization reported $0 in grants paid and filed no Schedule I for fiscal 2025. The page states that directly instead of leaving a blank grants section. Grantmaking organizations show a full recipient list in this section - recipient name, amount and stated purpose, as reported.
Trend - Revenue
Years are shown only where a filing is held. Missing years are absent, never filled in.
| Fiscal Year | Revenue | Change |
|---|---|---|
| Fiscal 2024 (Prior-Year Column on the Fiscal-2025 Filing) | $103,898,267 | - |
| Fiscal 2025 | $82,803,363 | -20.3% |
This table grows to a 10-year view (revenue, expenses, net assets and top pay) as earlier filings for this organization are added to the record. Missing years are absent, never filled in.
Filings on Record
| Tax Period | Form | Status | Source |
|---|---|---|---|
| Aug 1, 2024 - Jul 31, 2025 | Form 990 | In Force - Filed Jun 10, 2026 | Original Filing at the IRS |
If an amended return is filed, the newest amended return supersedes the earlier one and the table marks which filing is in force.