Lyric Foundation Inc

Analysis

Lyric Foundation Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in June 1968, 58 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 Foundation Inc reported income of $9.8m and spending of $9.9m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $10.1m to $9.8m (-3.0%), an average of -0.8% a year. The sharpest change came in the year to June 2022, when income rose by 88%. Over the whole period it spent 96% 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 Foundation Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within MD. Charities of a similar size with the same main cause include Eaa Aviation Foundation Inc ($9.8m), Civic Light Opera Association ($9.8m) and International First Committee Association ($9.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 16% and program service revenue 81% of the total. Other salaries and wages came to $1.8m. At year end it held assets of $22.2m against liabilities of $8.8m, net assets of $13.4m. It reported 5 employees.