Lyric Opera Of Chicago
- Assets
- $270.2m
- Revenue
- $60.3m
- Investments
- $115.8m
- Employees
- 836
- Location
- Chicago, IL
- Founding
- 07/1957
- Data as of
- 06/2020
- EIN
- 36-6008929
Organization Overview
Lyric Opera Of Chicago is located in Chicago, IL. The organization was established in 1957. According to its NTEE Classification (A6A) the organization is classified as: Opera, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Lyric Opera Of Chicago employed 836 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lyric Opera Of Chicago is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2020, Lyric Opera Of Chicago generated $60.3m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $77.0m during the year ending 06/2020. As we would expect to see with falling revenues, expenses have declined by (1.1%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
LYRIC OPERA OF CHICAGO EXISTS TO PROVIDE A BROAD, DEEP, AND RELEVANT CULTURAL SERVICE TO THE CHICAGO REGION AND THE NATION AND TO ADVANCE THE DEVELOPMENT OF THE ART FORM OF OPERA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LRYIC PERFORMED 2 LIVE OUTDOOR OPERA PERFORMANCES, HANSEL & GRETEL AND TWILIGHT GODS. THE PERFORMANCES WERE ATTENDED BY APPROXIMIATELY 1,019 PEOPLE. LYRIC ALSO ENHANCED ITS DIGITAL PROGRAMING, WHICH KEPT LONGSTANDING AUDIENCES ENGAGED AND ALSO ATTRACTED A NEW, GLOBAL AUDIENCE, INCLUDING MANY WITH NO PREVIOUS CONECTION TO LYRIC. LYRIC PRODUCED 11 DIGITAL EVENTS WITH DIGITAL VIEWERSHIP TOPPING 250,000, AND RECORDED AN ADDITIONAL LIVE PERFORMANCE (PAGLIACCI) WHICH WAS STREAMED IN FISCAL YEAR 2022.
LYRIC UNLIMITED, AN INITIATIVE OF LYRIC OPERA OF CHICAGO, OFFERS A MULTIFACETED PROGRAM OF EXPANDED COMMUNITY ENGAGEMENT AND ARTISTIC INITIATIVES AND INCLUDES LYRIC'S LONGSTANDING EDUCATIONAL PROGRAMS. LYRIC SEEKS TO ENRICH THE LIVES OF CHICAGO-AREA CHILDREN AND ADULTS THROUGH HIGH-QUALITY, ACCESSIBLE ARTS EDUCATION, WHICH FOCUSES ON CULTIVATING A LIFELONG APPRECIATION OF OPERA AND CREATING AUDIENCES FOR THE FUTURE. LYRIC'S SCHOOL PROGRAMS EMBRACE ARTS EDUCATION AS A CORE SUBJECT AND PROMOTE CROSS-CURRICULAR INTEGRATION WHILE FULFILLING STATE LEARNING STANDARDS. COMMUNITY PROGRAMS PROVIDE EDUCATION ON A VARIETY OF LEVELS, FROM NOVICE TO EXPERT, WHICH HEIGHTEN THE OPERA-GOING EXPERIENCE. 20 YOUTH AND ADULT PROGRAMS WERE HELD THROUGHOUT THE YEAR. MOST OF THESE ACTIVITIES TOOK PLACE VIRTUALLY. ATTENDANCE FOR THESE EDUCATIONAL ACTIVITIES TOTALED APPROXIMATELY 1,350. PLEASE NOTE, AS REQUIRED BY THE INSTRUCTIONS, THE REVENUE DISCLOSED HERE DOES NOT INCLUDE CONTRIBUTED REVENUE FOR THESE PROGRAMS.
DURING THE FISCAL YEAR, THERE WERE NO PRESENTATIONS OR EVENTS HELD IN THE FACILITY. HOWEVER, DINING SPACE WAS USED BY BUILDING MANAGEMENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Navigator Topco Lp Machining Manufacturer | 6/29/21 | $1,011,541 |
Bulley & Andrews Concrete Restoration Llc Construction Company | 6/29/21 | $1,934,791 |
Mcdermott Will & Emery Llp Legal | 6/29/21 | $676,844 |
Bay Productions Ltd Theater Company | 6/29/21 | $757,922 |
Hms Media Inc Video Production | 6/29/21 | $739,177 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $36,568,721 |
| Investment income | $3,351,639 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,731,656 |
| Net Income from Fundraising Events | -$371,452 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $266,123 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $60,302,671 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,773,875 |
| Compensation to disqualified persons | $10,800 |
| Other salaries and wages | $33,803,869 |
| Pension plan accruals and contributions | $3,263,397 |
| Other employee benefits | $5,637,670 |
| Payroll taxes | $3,008,198 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $144,201 |
| Fees for services: Accounting | $216,916 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,618,640 |
| Fees for services: Other | $6,272,567 |
| Advertising and promotion | $2,267,899 |
| Office expenses | $1,150,217 |
| Information technology | $940,762 |
| Royalties | $112,092 |
| Occupancy | $2,217,243 |
| Travel | $938,666 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $52,865 |
| Interest | $2,702,104 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,041,433 |
| Insurance | $987,010 |
| All other expenses | $0 |
| Total functional expenses | $77,011,974 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,143,234 |
| Savings and temporary cash investments | $873,047 |
| Pledges and grants receivable | $27,369,835 |
| Accounts receivable, net | $2,352,542 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $31,053 |
| Prepaid expenses and deferred charges | $1,366,467 |
| Investments—publicly traded securities | $81,886,891 |
| Investments—other securities | $115,786,957 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $45,248 |
| Total assets | $270,226,178 |
| Accounts payable and accrued expenses | $6,296,240 |
| Grants payable | $0 |
| Deferred revenue | $10,130,692 |
| Tax-exempt bond liabilities | $65,800,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $12,433,922 |
| Total liabilities | $94,660,854 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $175,565,324 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lyric Opera Of Chicago has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
David And Orit Carpenter Foundation Chicago, IL PURPOSE: GENERAL PURPOSE | $50,000 |
Endowment Analysis
| Beg. Balance | $52,197,208 |
| Earnings | $14,419,253 |
| Admin Expense | $524,256 |
| Net Contributions | $4,364,692 |
| Other Expense | $2,405,839 |
| Ending Balance | $68,051,058 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lyric Opera Of Chicago Chicago, IL | $270,226,178 | $60,302,671 |
Opera Theatre Of Saint Louis St Louis, MO | $111,453,146 | $9,625,492 |
Lyric Opera Of Kansas City Inc Kansas City, MO | $27,451,625 | $5,560,944 |
Des Moines Metro Opera Inc Indianola, IA | $7,229,930 | $5,531,970 |
Skylight Music Theatre Corp Milwaukee, WI | $3,450,356 | $3,977,944 |
Florentine Opera Co Inc Milwaukee, WI | $7,598,617 | $5,457,526 |
Chicago Opera Theater Chicago, IL | $1,804,521 | $2,733,025 |
Kentucky Opera Association Inc Louisville, KY | $4,939,443 | $2,050,260 |
Madison Opera Inc Madison, WI | $2,864,319 | $1,938,281 |
Music Theater Works Wilmette, IL | $813,169 | $1,440,067 |
Indianapolis Opera Company Indianapolis, IN | $3,256,088 | $1,429,356 |
Chamber Opera Of Chicago Chicago, IL | $429,252 | $422,110 |