The Lyric Council Inc

Analysis

The Lyric Council Inc is a registered charity in United States, based in Blacksburg, VA. It received its IRS tax-exemption ruling in October 1995, 31 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 December 2023, The Lyric Council Inc reported income of $376k and spending of $432k, spending 115% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $437k to $376k (-14%), an average of -3.7% a year. The sharpest change came in the year to December 2021, when income rose by 80%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Lyric Council Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 65th percentile within VA. Charities of a similar size with the same main cause include Portland Chinatown History Foundation ($376k), Delaware County Historical Association ($376k) and Integrity Dance Center Inc ($376k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 35% and program service revenue 57% of the total. Other salaries and wages came to $165k. At year end it held assets of $721k against liabilities of $24k, net assets of $697k. It reported 15 employees.