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Lyric Foundation INC FY2020 filing

Tax-deductible

Baltimore, MD501(c)(3)Since 1968Arts & Culture EIN 52-6080460Revenue $3.9M in FY2020

On file with the IRSlyricbaltimore.com110 W Mount Royal Ave, 21201-5714 · Baltimore, MDTax-exempt since Jun 1968Publicly supported charity — 170(b)(1)(A)(vi)

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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.
83¢ of each $1 spent went to programs.
$167K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average deficit $197K a year · 2% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$167K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 4.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $20K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$6.1M
38% of total assets
Looks good: liabilities are 38% of assets; 50% or less.
Pt X · Ln 26
Independent board members
17
of 17 voting members
Looks good: 17 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.9M
Spent
$6.0M
To programs
83%
Net assets
$10.0M
By yearFY2020–FY2025
Revenue
$3.9M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$3.9M
FY2021$4.8M
FY2022$9.1M
FY2023$9.8M
FY2024$14.2M
FY2025$13.8M
Expenses
$6.0M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$6.0M
FY2021$2.5M
FY2022$8.2M
FY2023$9.9M
FY2024$15.0M
FY2025$15.3M
Net assets
$10.0M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$10.0M
FY2021$12.4M
FY2022$13.2M
FY2023$13.4M
FY2024$13.0M
FY2025$11.9M

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1968.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $5.0M Management & general 13% · $783K Fundraising 4% · $213K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

18 people listed on the 990; $167K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Mr Jonathan Schwartz
Executive Director
$167,344Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Mr Stephen D Palmer
Vice-Chairman
$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

NameFY2025FY2024FY2023FY2022FY2020
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.

See Lyric Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

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

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Provided by the organization

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1 program · $5.0M · in their own filed words · FY2019
01

The preservation and operation of the modell performing arts center at the lyric for the advancement of the performing arts.

$5.0Mprogram expense

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
Baltimore Community Foundation INCFY2024$20K
Total grants receivedfrom 1 funder$20K

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.9M
Ln 12
Fees for servicesLn 2g$3.3M
Gifts and grantsLn 1h$391K
Other incomeLn 4–11$185K
Money outPt IX
$6.0M
Ln 25
Programscol B$5.0M
Managementcol C$783K
Fundraisingcol D$213K
Owns and owesPt X
$10.0M
net assets · Ln 32
Cash and savingsLn 1–2$2.5M
Total assetsLn 16$16.1M
LiabilitiesLn 26$6.1M
PeoplePt VI, VII
18
listed · VII A
PaidVII A1
Voting boardVI 1a17
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$391K
Government grantsLn 1e$303K
Noncash giftsLn 1g$5K
Fees for servicesLn 2g$3.3M
Investment incomeLn 3$3K
Other incomeLn 4–11$185K
Gains on assetsLn 7−$26
Total revenueLn 12$3.9M
Assets in detailPt X, end of year
CashLn 1$2.2M
SavingsLn 2$303K
Cash and savings togetherLn 1–2$2.5M
InvestmentsLn 11–13$176K
Land, buildings, equipmentLn 10c$13.3M
Total assetsLn 16$16.1M
LiabilitiesLn 26$6.1M
Net assetsLn 32$10.0M
OperationsPt I, VI
EmployeesI 55
VolunteersI 620
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$840K$2.5M
InvestmentsLn 11–13$177K$176K
Land, buildings, equipmentLn 10c$14.0M$13.3M
Total assetsLn 16$15.6M$16.1M
LiabilitiesLn 26$3.5M$6.1M
Net assetsLn 32$12.1M$10.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of disqualified personsLn 6$1.2M$1.1M$118K$44K
Pension plan contributionsLn 8$4K$4K$505$189
Other employee benefitsLn 9$140K$118K$16K$6K
Payroll taxesLn 10$87K$73K$10K$4K
Management feesLn 11a$130K$74K$56K
Accounting feesLn 11c$52K$41K$5K$5K
Other fees for servicesLn 11g$82K$82K
Advertising and promotionLn 12$175K$152K$23K
Information technologyLn 14$13K$11K$1K$1K
RoyaltiesLn 15$7K$7K
TravelLn 17$12K$10K$1K$493
InterestLn 20$182K$146K$18K$18K
Depreciation, depletion and amortizationLn 22$685K$548K$68K$68K
Other expenses (24a–d)Ln 24$2.8M$2.4M$351K$51K
All other expensesLn 24e$370K$326K$30K$14K
Total functional expensesLn 25$6.0M$5.0M$783K$213K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $13.8M$15.3M−$1.5M$11.9M 990 PDF
FY2024 $14.2M$15.0M−$748K$13.0M 990 PDF
FY2023 $9.8M$9.9M−$65K$13.4M 990 PDF
FY2022 $9.1M$8.2M$944K$13.2M 990 PDF
FY2021 $4.8M$2.5M$2.3M$12.4M 990 PDF
FY2020 Viewing $3.9M$6.0M−$2.1M$10.0M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $3,918,907 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,071,960$391,307
I-9 Program service revenuePrior year $8,347,854$3,339,504
I-10 Investment incomePrior year $1,424$3,186
I-11 Other revenuePrior year $700,028$184,910
I-12 Total revenuePrior year $10,121,266$3,918,907
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,789,448$1,444,477
I-16a Professional fundraising feesPrior year $13,000$0
I-17 Other expensesPrior year $8,096,979$4,552,590
I-18 Total expensesPrior year $9,899,427$5,997,067
I-19 Revenue less expensesPrior year $221,839−$2,078,160
Part VI · Governance 17 of 17 board members independent, 2 to look at
VI-1a Voting members of the governing body17
VI-1b Independent voting members17
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $3,918,907 across 10 lines filed
VIII-1e Government grants$302,940
VIII-1f All other contributions, gifts and grants$88,367
VIII-1g Noncash contributions (included above)$5,036
VIII-1h Total contributions, gifts and grants$391,307
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,339,504$3,339,504
VIII-3 Investment incomeExcluded from tax $3,212$3,212
VIII-6 Net rental income or lossUnrelated business $50,193$50,193
VIII-7 Net gain or loss on sales of assetsRelated to mission −$26−$26
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $134,717$134,717
VIII-12 Total revenueRelated to mission $3,474,195 · Unrelated business $50,193 · Excluded from tax $3,212$3,918,907
Part IX · Statement of functional expenses $5,997,067 across 15 lines filed
IX-6 Pay of disqualified personsPrograms $1,050,382 · Management $118,488 · Fundraising $44,368$1,213,238
IX-8 Pension plan contributionsPrograms $3,709 · Management $505 · Fundraising $189$4,403
IX-9 Other employee benefitsPrograms $117,815 · Management $16,039 · Fundraising $6,006$139,860
IX-10 Payroll taxesPrograms $73,267 · Management $9,974 · Fundraising $3,735$86,976
IX-11a Management feesPrograms $73,500 · Management $56,485$129,985
IX-11c Accounting feesPrograms $41,257 · Management $5,157 · Fundraising $5,157$51,571
IX-11g Other fees for servicesManagement $82,151$82,151
IX-12 Advertising and promotionPrograms $152,180 · Management $23,260$175,440
IX-14 Information technologyPrograms $10,706 · Management $1,338 · Fundraising $1,338$13,382
IX-15 RoyaltiesPrograms $7,422$7,422
IX-17 TravelPrograms $9,698 · Management $1,315 · Fundraising $493$11,506
IX-20 InterestPrograms $145,846 · Management $18,231 · Fundraising $18,231$182,308
IX-22 Depreciation, depletion and amortizationPrograms $547,749 · Management $68,468 · Fundraising $68,468$684,685
IX-24 Other expenses (24a–d)Programs $2,441,926 · Management $351,303 · Fundraising $51,303$2,844,532
IX-24e All other expensesPrograms $325,887 · Management $30,014 · Fundraising $13,707$369,608
IX-25 Total functional expensesPrograms $5,001,344 · Management $782,728 · Fundraising $212,995$5,997,067
Part X · Balance sheet $16,115,078 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $688,779$2,163,916
X-2 Savings and temporary cash investmentsStart of year $151,052$303,373
X-3 Pledges and grants receivableStart of year $422,000$72,000
X-4 Accounts receivableStart of year $122,303$91,769
X-10c Land, buildings and equipment, netStart of year $13,960,454$13,307,767
X-12 Other securitiesStart of year $177,163$176,253
X-16 Total assetsStart of year $15,602,262$16,115,078
X-17 Accounts payable and accrued expensesStart of year $723,588$208,069
X-19 Deferred revenueStart of year $920,960$1,528,695
X-25 Other liabilitiesStart of year $5,000$9,500
X-26 Total liabilitiesStart of year $3,499,783$6,086,654
X-27 Net assets without donor restrictionsStart of year $11,803,316$9,780,171
X-28 Net assets with donor restrictionsStart of year $299,163$248,253
X-32 Total net assets or fund balancesStart of year $12,102,479$10,028,424
X-33 Total liabilities and net assetsStart of year $15,602,262$16,115,078
Part XI · Reconciliation of net assets $10,028,424 net assets at year end
XI-1 Total revenue$3,918,907
XI-2 Total expenses$5,997,067
XI-3 Revenue less expenses−$2,078,160
XI-4 Net assets at start of year$12,102,479
XI-5 Net unrealized gains (losses) on investments$4,105
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$10,028,424

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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