Lyric Opera of Chicago

EIN: 366008929 501(c)(3) Arts, Culture & Humanities

Chicago, IL

Total Revenue
$80,826,148
Total Expenses
$76,783,278
Total Assets
$285,413,360
Net Assets
$199,850,185
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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
1954
Legal Domicile
IL
Phone
3123322244
Tax Period
2024-07-01 to 2025-06-30

Lyric Opera of Chicago, founded in 1954, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $80.8M in total revenue in fiscal year 2024. Revenue surged 41% from the prior year, signaling strong growth momentum. Expenses of $76.8M left a modest 5% surplus.

Mission

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.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $47,048,673
Program Service Revenue $15,070,068
Investment Income $15,531,147
Other Revenue $3,176,260
TOTAL REVENUE $80,826,148

Expense Breakdown

Grants Paid $0
Salaries & Benefits $47,378,371
Fundraising Expenses $5,122,600
Program Expenses $60,737,451
Other Expenses $29,330,778
TOTAL EXPENSES $76,783,278

Year-over-Year Comparison

2024 2023 Change
Revenue $80,826,148 $57,126,433 +0.4%
Expenses $76,783,278 $77,300,001 0.0%
Net Income $4,042,870 $-20,173,568 -1.2%
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

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Governance

Voting Members
84
Independent Members
82
Employees
990
Volunteers
756

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
12
$2,934,047
Total Directors
94
$1,974,707
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ANTHONY FREUD GENERAL DIRECTOR, PRESIDENT & CEO/UNTIL AUG 2024 40.0
Officer Director
$1,161,448 $35,797 $1,197,245
DAN GROSSMAN TREASURER 2.0
Officer Director
$0 $0 $0
DAVID ORMESHER EXECUTIVE COMMITTEE CHAIR 2.0
Officer Director
$0 $0 $0
DONNA VAN EEKEREN SECRETARY 2.0
Officer Director
$0 $0 $0
ENRIQUE MAZZOLA VICE-CHAIR & MUSIC DIRECTOR 40.0
Officer Director
$621,864 $0 $621,864
ERIC S SMITH VICE-CHAIR 2.0
Officer Director
$0 $0 $0
JAMES L ALEXANDER VICE-CHAIR 2.0
Officer Director
$0 $0 $0
JOHN MANGUM GENERAL DIRECTOR, PRESIDENT & CEO/BEG OCT 2024 40.0
Officer Director
$145,528 $10,070 $155,598
SHIRLEY W RYAN VICE-CHAIR 2.0
Officer Director
$0 $0 $0
SYLVIA NEIL CHAIR 6.0
Officer Director
$0 $0 $0
ALLAN B MUCHIN TRUSTEE/UNTIL MAY 2025 1.0
Director
$0 $0 $0
ALLAN DREBIN TRUSTEE/UNTIL DEC 2024 1.0
Director
$0 $0 $0
ALLAN E BULLEY III TRUSTEE 1.0
Director
$0 $0 $0
AMY CARBONE TRUSTEE 1.0
Director
$0 $0 $0
ANNA PAGLIA TRUSTEE 1.0
Director
$0 $0 $0
BLYTHE J MCGARVIE TRUSTEE 1.0
Director
$0 $0 $0
BRENDA M SHAPIRO TRUSTEE 1.0
Director
$0 $0 $0
BRENDA ROBINSON TRUSTEE 1.0
Director
$0 $0 $0
BRUCE BRAUN TRUSTEE 1.0
Director
$0 $0 $0
BRYAN TRAUBERT TRUSTEE 1.0
Director
$0 $0 $0
CHARLES DROEGE TRUSTEE 1.0
Director
$0 $0 $0
CHAZ EBERT TRUSTEE 1.0
Director
$0 $0 $0
CHERRYL THOMAS TRUSTEE 1.0
Director
$0 $0 $0
CHRISTINE SCHYVINCK TRUSTEE 1.0
Director
$0 $0 $0
CRAIG C MARTIN TRUSTEE 1.0
Director
$0 $0 $0
DAN DRAPER TRUSTEE 1.0
Director
$0 $0 $0
DENISE GARDNER TRUSTEE 1.0
Director
$0 $0 $0
DON M RANDEL TRUSTEE 1.0
Director
$0 $0 $0
DORRI MCWHORTER TRUSTEE 1.0
Director
$0 $0 $0
ETHEL C GOFEN TRUSTEE 1.0
Director
$0 $0 $0
FRANCESCA CORNELLI TRUSTEE 1.0
Director
$0 $0 $0
FRANK B MODRUSON TRUSTEE 1.0
Director
$0 $0 $0
GARY HAASE TRUSTEE 1.0
Director
$0 $0 $0
GREGORY J O'LEARY TRUSTEE 1.0
Director
$0 $0 $0
GREGORY JONES TRUSTEE 1.0
Director
$0 $0 $0
H GAEL NEESON TRUSTEE 1.0
Director
$0 $0 $0
JAMES E FELLOWES TRUSTEE 1.0
Director
$0 $0 $0
JANE CHU TRUSTEE 1.0
Director
$0 $0 $0
JANE DIRENZO PIGOTT TRUSTEE 1.0
Director
$0 $0 $0
JEFFREY C NEAL TRUSTEE 1.0
Director
$0 $0 $0
JENNIE HUANG BENNETT TRUSTEE 1.0
Director
$0 $0 $0
JODI HOCHBERGER RUBENSTEIN TRUSTEE/UNTIL JUN 2025 1.0
Director
$0 $0 $0
JOHN E BUTLER TRUSTEE 1.0
Director
$0 $0 $0
JOHN ROBAK TRUSTEE 1.0
Director
$0 $0 $0
JONATHAN LEWIS TRUSTEE/UNTIL JUN 2025 1.0
Director
$0 $0 $0
JOSE L PRADO TRUSTEE 1.0
Director
$0 $0 $0
JOSEF LAKONISHOK TRUSTEE 1.0
Director
$0 $0 $0
JOSEPH RUBINELLI JR TRUSTEE 1.0
Director
$0 $0 $0
KAREN FREEMAN-WILSON TRUSTEE 1.0
Director
$0 $0 $0
KAREN Z GRAY-KREHBIEL TRUSTEE 1.0
Director
$0 $0 $0
KATHERINE A ABELSON TRUSTEE 1.0
Director
$0 $0 $0
KEVIN SMITH Trustee 1.0
Director
$0 $0 $0
KIP KELLEY II TRUSTEE 1.0
Director
$0 $0 $0
LAURA DEFELICE TRUSTEE 1.0
Director
$0 $0 $0
LESTER CROWN TRUSTEE 1.0
Director
$0 $0 $0
LINDA K MYERS TRUSTEE 1.0
Director
$0 $0 $0
LOIS EISEN TRUSTEE 1.0
Director
$0 $0 $0
LORI A KOMISAR TRUSTEE 1.0
Director
$0 $0 $0
LOUISE BERNARD TRUSTEE 1.0
Director
$0 $0 $0
MARIA GREEN TRUSTEE 1.0
Director
$0 $0 $0
MARION CAMERON-GRAY TRUSTEE 1.0
Director
$0 $0 $0
MARSHA CRUZAN TRUSTEE/UNTIL JUN 2025 1.0
Director
$0 $0 $0
MARSHA SERLIN TRUSTEE 1.0
Director
$0 $0 $0
MARY STOWELL TRUSTEE/BEG MAY 2025 1.0
Director
$0 $0 $0
MATTHEW A FISHER TRUSTEE 1.0
Director
$0 $0 $0
MATTHEW J PARR TRUSTEE 1.0
Director
$0 $0 $0
MELVIN GRAY TRUSTEE 1.0
Director
$0 $0 $0
MIMI MITCHELL TRUSTEE 1.0
Director
$0 $0 $0
NANCY SANTI TRUSTEE 1.0
Director
$0 $0 $0
NANCY SEARLE TRUSTEE 1.0
Director
$0 $0 $0
NASRIN THIERER TRUSTEE 1.0
Director
$0 $0 $0
NEIL KAWASHIMA TRUSTEE 1.0
Director
$0 $0 $0
OLIVIA TYRRELL TRUSTEE 1.0
Director
$0 $0 $0
OLUFUNMILAYO I OLOPADE MD TRUSTEE 1.0
Director
$0 $0 $0
ORIT CARPENTER TRUSTEE 1.0
Director
$0 $0 $0
PENELOPE R STEINER TRUSTEE 1.0
Director
$0 $0 $0
PHIL LUMPKIN TRUSTEE 1.0
Director
$0 $0 $0
RALPH HASBUN TRUSTEE/UNTIL JUN 2025 1.0
Director
$0 $0 $0
RICHARD RYAN Trustee 1.0
Director
$0 $0 $0
RICHARD W COLBURN TRUSTEE 1.0
Director
$0 $0 $0
RICHARD W SHEPRO TRUSTEE 1.0
Director
$0 $0 $0
ROBERT B FORD TRUSTEE/UNTIL JUN 2025 1.0
Director
$0 $0 $0
ROBERT J MCCULLEN TRUSTEE 1.0
Director
$0 $0 $0
ROBERTA L WASHLOW TRUSTEE 1.0
Director
$0 $0 $0
SAMIR MAYEKAR TRUSTEE 1.0
Director
$0 $0 $0
SANTINO BIBBO TRUSTEE 1.0
Director
$0 $0 $0
SARAH GARVEY TRUSTEE 1.0
Director
$0 $0 $0
SCOTT SANTI TRUSTEE 1.0
Director
$0 $0 $0
SHARON F OBERLANDER TRUSTEE 1.0
Director
$0 $0 $0
STEPHEN KAPLAN TRUSTEE/UNTIL MAY 2025 1.0
Director
$0 $0 $0
STEVEN L FRADKIN TRUSTEE 1.0
Director
$0 $0 $0
TANYA POLSKY TRUSTEE 1.0
Director
$0 $0 $0
VIKRAM KARNANI TRUSTEE/UNTIL JUN 2025 1.0
Director
$0 $0 $0
VINAY COUTO TRUSTEE 1.0
Director
$0 $0 $0
ELIZABETH HURLEY ASST SECRETARY, CAO, DEPUTY GENERAL DIRECTOR 40.0
Officer
$536,324 $49,858 $586,182
VINCENTE MILIANTI ASST TREASURER & CFOO 40.0
Officer
$332,145 $41,013 $373,158
BRADLEY DUNN VICE PRESIDENT, MARKETING & COMMUNICATIONS 40.0
Highest
$211,127 $34,790 $245,917
JENNIFER BOYD VICE PRESIDENT, PEOPLE & CULTURE 40.0
Highest
$258,004 $27,451 $285,455
KATHLEEN SHEEHAN VICE PRESIDENT FOR PRINCIPAL GIFTS/UNTIL DEC 2024 40.0
Highest
$269,468 $22,454 $291,922
MATTHEW OZAWA CHIEF ARTISTIC OFFICER 40.0
Highest
$295,690 $39,717 $335,407
MICHAEL BLACK CHORUS DIRECTOR & HEAD OF MUSIC 40.0
Highest
$287,345 $1,145 $288,490
DREW LANDMESSER FORMER CHIEF OPERATING OFFICER & DEPUTY GENERAL DIRECTOR 15.0
$159,600 $0 $159,600
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 $80,826,148 $76,783,278 $285,413,360 $4,042,870
2024 $57,126,433 $77,300,001 $266,250,685 $-20,173,568
2023 $59,745,832 $85,822,656 $269,846,836 $-26,076,824
2022 $78,366,900 $70,260,752 $283,616,223 $8,106,148
2021 $46,890,991 $45,918,281 $312,425,270 $972,710
2020 $60,302,671 $77,011,974 $270,226,178 $-16,709,303
2019 $81,389,759 $80,008,397 $298,944,224 $1,381,362
2018 $61,878,791 $85,162,029 $293,716,752 $-23,283,238
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