Classic Lyric Arts Inc

Analysis

Classic Lyric Arts Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in February 2013, 13 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending October 2023, Classic Lyric Arts Inc reported income of $450k and spending of $471k, spending 105% of its income. Across the 5 years on record, from October 2019 to October 2023, income grew from $235k to $450k (+91%), an average of +18% a year. The sharpest change came in the year to October 2021, when income rose by 270%. 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, Classic Lyric Arts Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 65th percentile within NY. Charities of a similar size with the same main cause include Fusionfest Inc ($449k), Cultural Arts Council Douglasville Douglas County ($450k) and Harrisburg Community Theatre ($449k).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 37% and program service revenue 62% of the total. Other salaries and wages came to $173k. At year end it held assets of $93k against liabilities of $53k, net assets of $40k.