Lyric Opera of the North Incorporated

Analysis

Lyric Opera of the North Incorporated is a registered charity in United States, based in Duluth, MN. It received its IRS tax-exemption ruling in November 2005, 21 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Lyric Opera of the North Incorporated reported income of $291k and spending of $306k, spending 105% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $276k to $291k (+5.5%), an average of +1.3% a year. The sharpest change came in the year to August 2020, when income dropped by 24%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lyric Opera of the North Incorporated sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 60th percentile within MN. Charities of a similar size with the same main cause include Everett ($291k), Tricontinental Ltd ($292k) and Reading Science Center ($291k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 61% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $45k (15% of expenses). Other salaries and wages came to $26k. At year end it held assets of $99k against liabilities of $2,641, net assets of $96k. It reported 3 employees.