Lyric Foundation Inc

EIN: 526080460 501(c)(3) Arts, Culture & Humanities

Baltimore, MD

Total Revenue
$13,752,695
Total Expenses
$15,278,391
Total Assets
$18,688,384
Net Assets
$11,876,105
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1968
Legal Domicile
MD
Principal Officer
Thomas Bailey
Phone
4109001155
Tax Period
2024-07-01 to 2025-06-30

Lyric Foundation Inc, founded in 1968, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $13.8M in total revenue in fiscal year 2024. Expenses of $15.3M exceeded revenue, resulting in a 11% operating deficit.

Mission

The preservation and operation of the Lyric as a historic monument and for the advancement of the performing arts.

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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 $1,180,235
Program Service Revenue $12,043,595
Investment Income $102,377
Other Revenue $426,488
TOTAL REVENUE $13,752,695

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,191,560
Fundraising Expenses $270,039
Program Expenses $14,286,927
Other Expenses $14,086,831
TOTAL EXPENSES $15,278,391

Year-over-Year Comparison

2024 2023 Change
Revenue $13,752,695 $14,239,715 0.0%
Expenses $15,278,391 $14,987,713 +0.0%
Net Income $-1,525,696 $-747,998 +1.0%
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

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Liquidity & Cash Position

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Governance

Voting Members
20
Independent Members
16
Employees
5
Volunteers
20

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
5
$83,637
Total Directors
20
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Stephen Palmer Chairman 10.00
Officer Director
$0 $0 $0
Jacqueline Brooks Vice-Chairman 5.00
Officer Director
$0 $0 $0
Bryant Cargile Treasurer 10.00
Officer Director
$0 $0 $0
Marriah Barnett Secretary 5.00
Officer Director
$0 $0 $0
Violet Apple Trustee 1.00
Director
$0 $0 $0
Anirban Basu Trustee 1.00
Director
$0 $0 $0
Michael Brennan Trustee 3.00
Director
$0 $0 $0
John Denick Trustee 1.00
Director
$0 $0 $0
Tyler Hoffberger Trustee 3.00
Director
$0 $0 $0
Rick Hyman Trustee 3.00
Director
$0 $0 $0
Dr Brenda Bowe Johnson Trustee 3.00
Director
$0 $0 $0
Julie Mercer Trustee 1.00
Director
$0 $0 $0
Cleaveland Miller Trustee 1.00
Director
$0 $0 $0
David Morrison Trustee 3.00
Director
$0 $0 $0
Matt Newcomer Trustee 3.00
Director
$0 $0 $0
Jeffrey Penza Trustee 5.00
Director
$0 $0 $0
Sarah Sawyer Trustee 1.00
Director
$0 $0 $0
James Temple Trustee 3.00
Director
$0 $0 $0
Hal Turner Trustee 3.00
Director
$0 $0 $0
David Witherspoon Trustee 3.00
Director
$0 $0 $0
Thomas Bailey CEO and General Manager 40.00
Officer
$80,175 $3,462 $83,637
Jonathan Schwartz Jan - Aug Executive Director 40.00
Highest
$127,627 $0 $127,627
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 $13,752,695 $15,278,391 $18,688,384 $-1,525,696
2024 $14,239,715 $14,987,713 $18,299,837 $-747,998
2023 $9,818,271 $9,883,289 $22,226,755 $-65,018
2022 $9,096,246 $8,152,016 $18,897,043 $944,230
2021 $4,826,860 $2,533,797 $19,508,427 $2,293,063
2020 $3,918,907 $5,997,067 $16,115,078 $-2,078,160
2019 $10,121,266 $9,899,427 $15,602,262 $221,839
2018 $5,301,794 $6,413,653 $15,388,670 $-1,111,859
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