Lyra Music Inc

Analysis

Lyra Music Inc is a registered charity in United States, based in Beacon, NY. It received its IRS tax-exemption ruling in September 2014, 12 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lyra Music Inc reported income of $99k and spending of $108k, spending 109% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $66k to $99k (+50%), an average of +50% a year. The sharpest change came in the year to December 2023, when income rose by 50%. Over the whole period it spent 129% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lyra Music Inc sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 36th percentile within NY. Charities of a similar size with the same main cause include Bolton Museum ($99k), Sharswood Foundation ($99k) and Joseph Jefferson Award Committee ($99k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 27% and program service revenue 73% of the total. At year end it held assets of $52k against liabilities of $29k, net assets of $23k.