SFOpera - Audited Financial Results 2014–15

Audited Financial Results 2014–15

SAN FRANCISCO (April 19, 2016)—San Francisco Opera today announced the audited financial results of the Company’s recent 2014–15 season (FY15) indicating a deficit of $602,718 on an operating budget of $78,188,109. The Company’s 92nd season featured ten operas at the War Memorial Opera House in addition to numerous concerts, recitals, workshops and community engagement events attracting more than 250,067 individuals.

Total operating revenue for FY15 rose from $37,013,042 to $37,465,866 with income from ticket sales at $22,994,738 compared to the prior season (FY14) at $22,674,340. Contributions to the FY15 Annual Fund reflected an increase of 9% over the previous year coming to $40,119,525 in financial support from approximately 7,400 donors. At the close of FY15 on July 31, 2015, San Francisco Opera’s endowment was valued at $178,673,460 reflecting an increase of 8.4% over the previous year’s balance of $164,698,210 as of July 31, 2014.

San Francisco Opera’s 2014–15 season was launched Friday, September 9, with a new, international co-production of Vincenzo Bellini’s masterpiece, Norma starring Sondra Radvanovsky, Jamie Barton and Russell Thomas, conducted by San Francisco Opera Music Director Nicola Luisotti and directed by Kevin Newbury. The opening weekend continued with the Company premiere of Carlisle Floyd’s quintessential American opera Susannah, starring Patricia Racette, Brandon Jovanovich and Raymond Aceto, conducted by Karen Kamensek and directed by Michael Cavanagh. On Sunday, September 11, Maestro Luisotti led the San Francisco Opera Orchestra and a roster of internationally acclaimed singers in the annual free San Francisco Opera in the Park Concert, presented in Golden Gate Park’s Sharon Meadow.

The 2014 fall season continued with Giuseppe Verdi’s Un Ballo in Maschera (A Masked Ball) featuring Ramon Vargas, Julianna Di Giacomo, Dolora Zajick and Thomas Hampson, conducted by Nicola Luisotti and directed by Jose Maria Condemi; the Company premiere of George Frideric Handel’s Partenope with Danielle De Niese, David Daniels and Anthony Roth Costanzo, conducted by Julian Wachner and directed by Christopher Alden; Giacomo Puccini’s Tosca with the local debut of Lianna Haroutounian, Brian Jagde and Mark Delavan, conducted by Riccardo Frizza and staged by Jose Maria Condemi. Gioachino Rossini’s fairy tale La Cenerentola (Cinderella) was presented in the classic Jean-Pierre Ponnelle production starring Karine Deshayes in her Company debut, along with René Barbera and the debut of  Carlos Chausson, conducted by Jesús López-Cobos and directed by Gregory Fortner in his Company debut; followed by a new production of Giacomo Puccini’s La Bohème featuring two alternating casts including Alexia Voulgaridou and Michael Fabiano, conducted by Giuseppe Finzi and directed by John Caird. The fall season also included two sold-out performances of La Bohème for Families.

In June 2015, San Francisco Opera presented an international co-production of Hector Berlioz’s epic work Les Troyens (The Trojans) with a resplendent cast that included the return of Anna Caterina Antonacci, Susan Graham and Bryan Hymel, conducted by Donald Runnicles and directed by Sir David McVicar. The summer season was further distinguished by the world premiere of La Ciociara (Two Women) by Italian composer Marco Tutino, starring Anna Caterina Antonacci, Sarah Shafer, Dimitri Pittas and Mark Delavan, conducted by Nicola Luisotti and directed by Francesca Zambello; followed by Wolfgang Amadeus Mozart’s Le Nozze di Figaro (The Marriage of Figaro) with Nadine Sierra, Luca Pisaroni and Philippe Sly, conducted by Patrick Summers and directed by Robin Guarino in her Company debut. The July 3performance of Figaro was presented in a live high definition simulcast from the War Memorial Opera House to AT&T Park before a combined audience of over 33,000 individuals.

Due to the Company’s multiple media platforms, San Francisco Opera’s virtual audience for the 2014–15 season was over 3.7 million individuals beginning with the Opera’s monthly radio broadcasts, both local and nationwide, of performances from the Company’s current season in addition to rare archival recordings. In partnership with the Berlin-based EuroArts Music International, the San Francisco Opera released its sixth worldwide commercial DVD, Jerome Kern and Oscar Hammerstein II’s Show Boat, in a new co-production for the stage directed by Francesca Zambello and conducted by John DeMain, starring Bill Irwin, Heidi Stober, Patricia Racette, Harriet Harris, Morris Robinson and Angela Renée Simpson. San Francisco Opera returned to Northern California’s public television station KQED to bring the glory of grand opera to the living rooms of the Bay Area. Recorded in impressive high-definition and in 5.1 surround sound at the War Memorial Opera House, the television specials showcase the imaginative stagings and all-star casts from San Francisco Opera’s recent productions of Bellini’s I Capuleti e i Montecchi,Verdi’s Attila, Boito’s Mefistofele and Verdi’s Rigoletto. Celebrated mezzo-soprano Frederica von Stade was the eloquent program host.

San Francisco Opera’s internationally recognized training programs for professional young singers, coach/accompanists and directors were highlighted by the popular Schwabacher Debut Recitals Series featuring select San Francisco Opera Center Adler Fellows and Merola Opera Program alumni in four different programs. Since 1983, the Schwabacher Debut Recitals have introduced rising opera stars and provided significant opportunities for these artists to explore the art song repertoire. The recitals allow Bay Area audiences to experience exciting young talent perform a wide-ranging and eclectic repertoire of song literature in the intimate setting of the Martin Meyer Sanctuary. Additionally, San Francisco Opera presented the annual Opera Center Adler Fellows Gala Concert “The Future Is Now.” Throughout the 2014–15 season, numerous educational performances, workshops/training programs for teachers and adults, and opera study clubs were held reaching thousands of individuals.

The FY15 audit was conducted by Armanino LLP and unanimously approved by the San Francisco Opera Executive Committee.  A copy of the Association’s audited financial statements for fiscal year 2015 is available in PDF format here.

Audited Financial Results 2015–16