Belmond Area Arts Council Lyric Theatre

Analysis

Belmond Area Arts Council Lyric Theatre is a registered charity in United States, based in Belmond, IA. It received its IRS tax-exemption ruling in May 1978, 48 years ago. 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 2024, Belmond Area Arts Council Lyric Theatre reported income of $246k and spending of $251k, spending 102% of its income. Across the 6 years on record, from August 2019 to August 2024, income grew from $213k to $246k (+16%), an average of +2.9% a year. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Belmond Area Arts Council Lyric Theatre sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 59th percentile within IA. Charities of a similar size with the same main cause include Ravenswood Volunteer Fire Department Inc ($246k), North County Alano Club ($246k) and Justice High School Scholarship Fund ($246k).

On its Form 990 for the period ending August 2024, revenue came from contributions and grants 34% and program service revenue 16% of the total. Other salaries and wages came to $33k. At year end it held assets of $982k against liabilities of $36k, net assets of $946k. It reported 6 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.