Friends Of The Lyric Inc
- Assets
- $6.0m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 34
- Location
- Stuart, FL
- Founding
- 04/1989
- Data as of
- 09/2021
- EIN
- 65-0016846
Organization Overview
Friends Of The Lyric Inc is located in Stuart, FL. The organization was established in 1989. According to its NTEE Classification (A60) the organization is classified as: Performing Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 09/2021, Friends Of The Lyric Inc employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of The Lyric Inc 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 09/2021, Friends Of The Lyric Inc generated $2.4m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $1.1m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (12.0%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE THE COMMUNITY WITH A HOME FOR THE PERFORMING ARTS THAT ENTERTAINS, EDUCATES, AND STIMULATES THE GROWTH OF ARTISTIC INTEGRITY AND EXPERIENCE FOR EVERYONE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRODUCTION OF CONCERTS, PLAYS, LECTURES, AND OTHER PERFORMANCES BY THE ORGANIZATION; PRESERVATION OF A HISTORIC THEATRE BUILDING; RENTAL OF THEATRE TO COMMUNITY GROUPS FOR CEREMONIES & SHOWS.
SUMMER CAMP CREATED TO FACILITATE THE EDUCATION OF LOCAL YOUTH. THE SUMMER CAMP INCLUDED THE PRODUCTION OF PLAYS AND OTHER ACTIVITIES RELATED TO THE ARTS. DUE TO THE IMPACT OF COVID-19, THERE WAS NO SUMMER CAMP HELD SUMMER OF 2021.
PRODUCTION OF CONCERTS, PLAYS, LECTURES, AND OTHER PERFORMANCES BY THE ORGANIZATION; PRESERVATION OF A HISTORIC THEATRE BUILDING; RENTAL OF THEATRE TO COMMUNITY GROUPS FOR CEREMONIES & SHOWS.
SUMMER CAMP CREATED TO FACILITATE THE EDUCATION OF LOCAL YOUTH. THE SUMMER CAMP INCLUDED THE PRODUCTION OF PLAYS AND OTHER ACTIVITIES RELATED TO THE ARTS. DUE TO THE IMPACT OF COVID-19, THERE WAS NO SUMMER CAMP HELD SUMMER OF 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kia Fontaine President/ceo | Officer | 40 | $172,916 |
Todd Laycock Board Chair | OfficerTrustee | 1 | $0 |
Priscilla Baldwin Secretary | OfficerTrustee | 0.5 | $0 |
Harold Walsh Treasurer | OfficerTrustee | 1 | $0 |
Mary Laub Cowan Board Vice Chair | OfficerTrustee | 1 | $0 |
Frank M Byers Jr Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $608,945 |
| Related organizations | $0 |
| Government grants | $366,370 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,536,151 |
| Noncash contributions included in lines 1a–1f | $139,465 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,511,466 |
| Total Program Service Revenue | $19,967 |
| Investment income | $1,147 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$131,916 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,400,664 |
| 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. | $180,293 |
| Compensation of current officers, directors, key employees. | $39,664 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $352,209 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $30,330 |
| Payroll taxes | $50,530 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $33,682 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,201 |
| Advertising and promotion | $53,448 |
| Office expenses | $23,652 |
| Information technology | $7,449 |
| Royalties | $0 |
| Occupancy | $77,721 |
| Travel | $59 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $203 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $137,934 |
| Insurance | $88,820 |
| All other expenses | $4,684 |
| Total functional expenses | $1,113,843 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,100 |
| Savings and temporary cash investments | $1,938,669 |
| Pledges and grants receivable | $302,884 |
| Accounts receivable, net | $171,836 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,000 |
| Prepaid expenses and deferred charges | $105,659 |
| Net Land, buildings, and equipment | $3,513,858 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,270 |
| Total assets | $6,039,276 |
| Accounts payable and accrued expenses | $491,216 |
| Grants payable | $0 |
| Deferred revenue | $1,077,272 |
| Tax-exempt bond liabilities | $0 |
| 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 | $0 |
| Total liabilities | $1,568,488 |
| Net assets without donor restrictions | $4,167,904 |
| Net assets with donor restrictions | $302,884 |
| 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 | $6,039,276 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Friends Of The Lyric Inc has recieved totaling $181,000.
| Awarding Organization | Amount |
|---|---|
Community Foundation Martin St Lucie Inc Stuart, FL PURPOSE: OPERATING AND PROGRAM SUPPORT | $125,000 |
Morgridge Family Foundation Wilmington, DE PURPOSE: SUPPORT THE NEXT ACT CAMPAIGN TO RESTORE THE HISTORIC THEATRE | $10,000 |
Community Foundation Martin St Lucie Inc Stuart, FL PURPOSE: OPERATING AND PROGRAM SUPPORT | $10,000 |
The Fine Foundation Pittsburgh, PA PURPOSE: GENERAL OPERATING SUPPORT | $10,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $6,500 |
Risen Son Foundation Inc Amherst, NY PURPOSE: DIRECTORS CIRCLE | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sunfest Of Palm Beach County Inc West Palm Beach, FL | $4,618,785 | $9,247,080 |
Red Mountain Theatre Company Inc Birmingham, AL | $35,964,987 | $9,815,041 |
Womans Exchange Inc Of Sarasota Sarasota, FL | $4,624,153 | $4,393,353 |
Westcoast Black Theatre Troupe Of Florida Inc Sarasota, FL | $12,672,008 | $4,333,554 |
Center For Puppetry Arts Inc Atlanta, GA | $20,916,247 | $3,804,159 |
City Springs Theatre Company Sandy Springs, GA | $2,774,850 | $2,619,384 |
Barrier Island Group For The Arts Sanibel, FL | $11,337,341 | $3,470,715 |
Savannah Music Festival Inc Savannah, GA | $2,910,137 | $2,078,517 |
Milagro Foundation Inc Delray Beach, FL | $1,748,813 | $1,736,017 |
Atlanta Music Project Inc Atlanta, GA | $5,585,624 | $4,188,962 |
International Fringe Festival Of Central Florida Inc Orlando, FL | $864,625 | $1,737,536 |
Friends Of The Lyric Inc Stuart, FL | $6,039,276 | $2,400,664 |