Lyric Preforming Arts Company

Analysis

Lyric Preforming Arts Company is a registered charity in United States, based in Brownwood, TX. It received its IRS tax-exemption ruling in October 2002, 24 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Lyric Preforming Arts Company reported income of $356k and spending of $508k, spending 143% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $310k to $356k (+15%), an average of +3.5% a year. The sharpest change came in the year to December 2021, when income rose by 140%. Over the whole period it spent 136% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lyric Preforming Arts Company sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 69th percentile within TX. Charities of a similar size with the same main cause include American College of Health Care Architects ($356k), Building Baja S Future ($356k) and Sons and Daughters of Herman Benevolent Fund Inc ($356k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 48% and program service revenue 48% of the total. Other salaries and wages came to $98k. At year end it held assets of $2.4m against liabilities of $33k, net assets of $2.3m. It reported 9 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.