Lyric Foundation INC

Tax-deductible

Baltimore, MD501(c)(3)Since 1968Arts & CultureEIN 52-6080460

The preservation and operation of the Lyric as a historic monument and for the advancement of the performing arts.

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
Run by 20 volunteers and 5 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Is it a real charity?
501(c)(3)
not on the IRS revocation list
IRS BMF · Auto-Revocation List
Are gifts tax-deductible?
Yes
Donations are tax-deductible
IRS Pub. 78 · IRS BMF
Is it filing on time?
FY2024
latest Form 990
IRS e-file · Filing history
Is it financially stable?
2 of 5
years in the black
Pt I · Ln 19 · 5 filings
How much reaches the programs?
94%
of spending
Pt IX · Ln 25 · col B
What are leaders paid?
$208K
to officers and key staff · 1% of spending
Pt VII · Sec A
Do they have reserves?
2 mo
of spending, in cash
Pt X · Ln 1–2 · Pt I · Ln 18
Who is supporting them already?
1
named funder · $20K
Funders’ Sch. I, 990-PF
Do they carry debt?
$6.8M
liabilities
Pt X · Ln 26
Who oversees it?
16
independent of 20 voting board members
Pt VI · Ln 1a–1b
Revenue
$13.8M
-3% vs prior year
Spent
$15.3M
To programs
94%
Net assets
$11.9M
By yearFY2020–FY2024
Revenue
$13.8M
FY2024▼ -3%
Revenue by fiscal year
FY2020$3.9M
FY2021$4.8M
FY2022$9.1M
FY2023$9.8M
FY2024$14.2M
FY2024$13.8M
Expenses
$15.3M
FY2024▲ +2%
Expenses by fiscal year
FY2020$6.0M
FY2021$2.5M
FY2022$8.2M
FY2023$9.9M
FY2024$15.0M
FY2024$15.3M
Net assets
$11.9M
FY2024▼ -9%
Net assets by fiscal year
FY2020$10.0M
FY2021$12.4M
FY2022$13.2M
FY2023$13.4M
FY2024$13.0M
FY2024$11.9M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CLyric Foundation INC
EINHdr · item D52-6080460
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFJun 1968
Year of formationHdr · item L1968
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CBaltimore, MD
NTEE classificationIRS BMFArts & Culture (A61I)
WebsiteHdr · item Jlyricbaltimore.com

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.94 Management & general $0.05 Fundraising $0.02
Program services94%$14.3M
Management & general5%$721K
Fundraising2%$270K
Total functional expensesLn 25$15.3M

Financial health

Is it on solid ground?

Program efficiency
94%
of spending reaches programs+0.08% vs prior filing year
Operating runway
4.6mo
months of highly liquid reserves at operating expense rate0% vs prior filing year
Surplus margin
-11%
revenue over expenses, this year▼ -111% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$18.7M
FY2024▲ +2%
Total assets by fiscal year
FY2020$16.1M
FY2021$19.5M
FY2022$18.9M
FY2023$22.2M
FY2024$18.3M
FY2024$18.7M
Total liabilities
$6.8M
FY2024▲ +29%
Total liabilities by fiscal year
FY2020$6.1M
FY2021$7.1M
FY2022$5.7M
FY2023$8.8M
FY2024$5.3M
FY2024$6.8M
Revenue less expensesPt I · Ln 19−$1.5M
Total assetsPt X · Ln 16$18.7M
Program-expense ratioPt IX · col B94%
Voting members of governing bodyPt I · Ln 320
Independent voting membersPt I · Ln 416

Balance Sheet

Part X · end of year
CashLn 1$2.3M
Total assetsLn 16$18.7M
Total liabilitiesLn 26$6.8M
Total net assetsLn 32$11.9M
Months of cash on handcomputed1.8

Statement of Revenue

Part VIII
Program service revenue$12.0M · 88%
Contributions & grants$1.2M · 9%
Other revenue$426K · 3%
Investment income$102K · 1%
Program service revenue88%$12.0M
Contributions & grants9%$1.2M
Other revenue3%$426K
Investment income1%$102K
— government grantsLn 1e$928K
Total revenueLn 12$13.8M

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $5.8M · Operating expenses/yr $15.3M
4.6 months
Where the money goes
Program services
Program services $14.3M · Total expenses $15.3M
94%
Management & General
Management & general $721K · Total expenses $15.3M
5%
Fundraising
Fundraising $270K · Total expenses $15.3M
2%
Cost to raise $1
Fundraising expense (3-yr avg) $261K · Solicited contributions (3-yr avg) $194K
$1.34 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $1.2M · Total revenue $13.8M
9%
Government reliance
Government grants $928K · Total revenue $13.8M
7%
Earned-income share
Program service revenue $12.0M · Total revenue $13.8M
88%
Investment reliance
Investment income $102K · Total revenue $13.8M
+0.7%
Program self-sufficiency
Program service revenue $12.0M · Total expenses $15.3M
79%
Growth & trend
Revenue growth (YoY)
This year $13.8M · Prior year $14.2M
-3%
Revenue CAGR
FY2019 $3.9M · FY2024 $13.8M
+29%
Net-asset trend (YoY)
End of year $11.9M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $13.8M · Expenses $15.3M
-11%
Liabilities-to-Assets
Total liabilities — · Total assets $18.7M
—
Net-asset ratio
Net assets $11.9M · Total assets $18.7M
64%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) $3.5M · Total assets (Pt X, ln 16) $18.7M
19%
People & payroll
Highest Reported Total Compensation
Individual Jonathan Schwartz Jan - Aug · Reported title Executive Director · Highest reported compensation $128K · Total expenses $15.3M
0.8%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $1.2M · Total expenses $15.3M
8%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 94%——
Overhead ratio 5%——
Fundraising cost ratio 23%——
Revenue growth -3%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$127,627Pt VII · Sec A
CEO and General Manager
$80,175Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Jonathan Schwartz Jan - Aug’s $128K as Executive Director is at the 4th percentile of top reported officer pay among 749 $10–100M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2020
Mr Jonathan Schwartz—$137,986$109,100$101,000$167,344
Jonathan Schwartz Jan - Aug$127,627————
Thomas Bailey$80,175————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Governance & Policies

Part VI
  • 20Voting board membersPt VI · Ln 1a
  • 16Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aNo
  • Whistleblower policyPt VI · Ln 13No
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Preserves and operates a historic performing arts center for artistic advancement.

Provided by the organization

This section is blank until Lyric Foundation INC claims this page.

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Mission & Programs · Part III

Where the work happens

1 program service account for $14.3M of program spending, described in the organization's own filed words · FY2024.
01

The preservation and operation of the Lyric for the advancement of the performing arts.

$14.3Mprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$20K

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 $14.2M$15.0M+45% 990 PDF
FY2023 $9.8M$9.9M+8% 990 PDF
FY2022 $9.1M$8.2M+88% 990 PDF
FY2021 $4.8M$2.5M+23% 990 PDF
FY2020 $3.9M$6.0M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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