Lyric Opera of Chicago

Analysis

Lyric Opera of Chicago is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in July 1957, 69 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 June 2023, Lyric Opera of Chicago reported income of $59.7m and spending of $85.8m, spending 144% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $81.4m to $59.7m (-27%), an average of -7.4% a year. The sharpest change came in the year to June 2022, when income rose by 67%. Over the whole period it spent 110% 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 Chicago sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within IL. Charities of a similar size with the same main cause include Human Resources Research Organization ($59.6m), Connected Giving Foundation ($59.7m) and Polynesian Cultural Center ($58.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 56% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $3.2m (3.8% of expenses). Other salaries and wages came to $35.1m. It paid $70k in professional fundraising fees. At year end it held assets of $269.8m against liabilities of $83.9m, net assets of $185.9m. It reported 1,048 employees.