Lyric Opera Of Chicago
- Assets
- $283.6m
- Revenue
- $78.4m
- Investments
- $162.5m
- Employees
- 923
- Location
- Chicago, IL
- Founding
- 07/1957
- Data as of
- 06/2022
- 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 06/2022, Lyric Opera Of Chicago employed 923 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 06/2022, Lyric Opera Of Chicago generated $78.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $70.3m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
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:
DURING THE FISCAL YEAR, 37 OPERA PERFORMANCES WERE PERFORMED BY LYRIC OPERA OF CHICAGO. THESE PERFORMANCES WERE ATTENDED BY APPROXIMATELY 91,200 PEOPLE.
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. 16 YOUTH AND ADULT PROGRAMS WERE HELD THROUGHOUT THE YEAR. MOST OF THESE ACTIVITIES TOOK PLACE VIRTUALLY. ATTENDANCE FOR THESE EDUCATIONAL ACTIVITIES TOTALED APPROXIMATELY 800. 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 6 PRESENTATIONS AND EVENTS HELD IN THE FACILITY WITH TOTAL ATTENDANCE OF APPROXIMATELY 640 PEOPLE. ADDITIONALLY, DINING SPACE WAS USED BY BUILDING MANAGEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed General Director, President & CEO | OfficerTrustee | 40 | $714,627 |
Name Not Listed Trustee (until June 2022), Treasurer (beg June 2022) | OfficerTrustee | 2 | $0 |
Name Not Listed Executive Committee Chair | OfficerTrustee | 2 | $0 |
Name Not Listed Secretary | OfficerTrustee | 2 | $0 |
Name Not Listed Vice-Chair | OfficerTrustee | 2 | $0 |
Name Not Listed Treasurer (until May 2022) | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Surburban Elevator Elevator Service | 6/29/22 | $1,673,016 |
Bulley & Andrews Concrete Restoration Llc Construction Company | 6/29/22 | $1,040,654 |
Allied Integrated Marketing Advertising Agency | 6/29/22 | $871,640 |
Navigator Topco Lp Machining Manufacturer | 6/29/22 | $971,429 |
Hms Media Inc Video Production | 6/29/22 | $706,204 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,533,439 |
| Related organizations | $0 |
| Government grants | $10,184,200 |
| All other contributions, gifts, grants, and similar amounts not included above | $44,456,756 |
| Noncash contributions included in lines 1a–1f | $6,378,571 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $56,174,395 |
| Total Program Service Revenue | $12,830,724 |
| Investment income | $2,259,590 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,042,379 |
| Net Income from Fundraising Events | -$1,204,441 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $605,158 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $78,366,900 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $2,433,632 |
| Compensation of current officers, directors, key employees. | $1,127,580 |
| Compensation to disqualified persons | $13,985 |
| Other salaries and wages | $28,480,805 |
| Pension plan accruals and contributions | $2,661,265 |
| Other employee benefits | $5,220,712 |
| Payroll taxes | $2,769,445 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $312,509 |
| Fees for services: Accounting | $213,811 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $50,635 |
| Fees for services: Investment Management | $1,507,246 |
| Fees for services: Other | $4,928,764 |
| Advertising and promotion | $1,581,027 |
| Office expenses | $1,319,097 |
| Information technology | $1,036,925 |
| Royalties | $436,918 |
| Occupancy | $2,307,613 |
| Travel | $761,583 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,473 |
| Interest | $2,424,149 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,342,820 |
| Insurance | $1,186,745 |
| All other expenses | $1,195,041 |
| Total functional expenses | $70,260,752 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,550,451 |
| Savings and temporary cash investments | $862,447 |
| Pledges and grants receivable | $32,323,064 |
| Accounts receivable, net | $451,154 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $11,316 |
| Prepaid expenses and deferred charges | $4,111,146 |
| Net Land, buildings, and equipment | $42,745,536 |
| Investments—publicly traded securities | $34,056,614 |
| Investments—other securities | $162,457,245 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $47,250 |
| Total assets | $283,616,223 |
| Accounts payable and accrued expenses | $6,656,920 |
| Grants payable | $0 |
| Deferred revenue | $10,180,323 |
| 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 | $5,139,878 |
| Total liabilities | $87,777,121 |
| Net assets without donor restrictions | $89,333,511 |
| Net assets with donor restrictions | $106,505,591 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $283,616,223 |