LYRIC OPERA OF THE NORTH

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2004

Legal Domicile

Principal Officer

SARAH LAWRENCE

Phone

2184640922

Tax Period

2023-09-01 to 2024-08-31

LYRIC OPERA OF THE NORTH, founded in 2004, is a small nonprofit in the Arts, Culture & Humanities sector that reported $253K in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year. Expenses of $327K exceeded revenue, resulting in a 29% operating deficit.

Mission

PRESENT OPERA PERFORMANCES IN DULUTH, MINNESOTA AND BRING OPERA TO SCHOOLS IN MINNESOTA AND WISCONSIN.

Program Service Accomplishments

Program 1

Expenses: $321,556 Revenue: $90,314

THE 2023-24 SEASON FOR LYRIC OPERA OF THE NORTH (LOON) BEGAN WITH "SPEED DATING" PERFORMED AT A SMALL VENUE IN DULUTH'S LINCOLN PARK AREA. THIS WAS A SMALL COMIC OPERA WITH A CAST OF ONLY 12 SINGERS. THE MAJORITY WERE LOCAL SINGERS. LITTLE LOON BROUGH OPERA FOR THE YOUNG'S ADAPTATION OF HANSEL AND GRETEL TO 28 ELEMENTARY SCHOOLS IN SUPERIOR, DULUTH AND NORTHERN MINNESOTA. LOON'S MAIN STAGE PRODUCTION WAS "LA BOHEME" IN JUNE AT THE MARSHALL PERFORMING ARTS CENTER ON THE CAMPUS OF THE UNIVERSITY OF MINNESOTA, DULUTH. TWO FUNDRAISERS WERE HELD. THE VALENTINE'S DAY SOIREE, LOON'S LARGEST FUNDRAISER WAS HELD IN FEBRUARY AND THE SUMMER SPARKLER WAS HELD OUTDOORS IN AUGUST.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $172,499

Program Service Revenue $82,726

Investment Income $6

Other Revenue $-1,859

TOTAL REVENUE $253,372

Expense Breakdown

Grants Paid $0

Salaries & Benefits $90,112

Fundraising Expenses $0

Program Expenses $321,556

Other Expenses $236,999

TOTAL EXPENSES $327,111

Year-over-Year Comparison

	2023	2022	Change
Revenue	$253,372	$291,474	-0.1%
Expenses	$327,111	$305,890	+0.1%
Net Income	$-73,739	$-14,416	+4.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$45,600

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANDREA KUZEL	PRESIDENT	1.00	Officer Director	$0	$0	$0
EMILY VIKRE	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
SUE HENKE	SECRETARY	1.00	Officer Director	$0	$0	$0
PAULA MEYER	DIRECTOR	1.00	Director	$0	$0	$0
ANNE DUGAN	DIRECTOR	1.00	Director	$0	$0	$0
PATRICIA CASTELLANO	DIRECTOR	1.00	Director	$0	$0	$0
KATE HORVATH	DIRECTOR	1.00	Director	$0	$0	$0
LISA MUNSON	DIRECTOR	1.00	Director	$0	$0	$0
SARAH LAWRENCE	ARTISTIC DIR	40.00	Officer	$45,600	$0	$45,600

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$253,372	$327,111	$26,000	$-73,739
2023	$291,474	$305,890	$98,550	$-14,416
2022	$287,922	$271,586	$114,889	$16,336
2021	$252,573	$144,451	$100,861	$108,122
2020	$209,007	$195,839	$34,663	$13,168
2019	$276,342	$282,890	$12,001	$-6,548
2018	$232,711	$250,013	$10,117	$-17,302