FRIENDS OF THE LYRIC INC

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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

1987

Legal Domicile

Principal Officer

KIA FONTAINE

Phone

7722201942

Tax Period

2023-10-01 to 2024-09-30

FRIENDS OF THE LYRIC INC, founded in 1987, is a community nonprofit in the Arts, Culture & Humanities sector that reported $3.2M in total revenue in fiscal year 2023. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $3.1M left a modest 3% surplus.

Mission

FRIENDS OF THE LYRIC WAS ESTABLISHED IN 1987 TO RESTORE AND OPERATE THE 1926 HISTORIC THEATRE BUILDING IN DOWNTOWN STUART, FLORIDA. ITS MISSION IS TO PROVIDE A HOME FOR THE PERFORMING ARTS THAT ENTERTAINS, EDUCATES, AND STIMULATES THE GROWTH OF ARTISTIC INTEGRITY AND EXPERIENCE FOR EVERYONE.

Program Service Accomplishments

Program 1

Expenses: $2,515,014 Revenue: $2,209,083

FRIENDS OF THE LYRIC PRESENTS A VARIETY OF ENTERTAINMENT PROGRAMMING, INCLUDING RHYTHM AND BLUES, ROCK AND ROLL, JAZZ, BLUES, COUNTRY, POP, CLASSICAL, DANCE, LECTURES, FILMS, AND MORE, PROVIDING...

FRIENDS OF THE LYRIC PRESENTS A VARIETY OF ENTERTAINMENT PROGRAMMING, INCLUDING RHYTHM AND BLUES, ROCK AND ROLL, JAZZ, BLUES, COUNTRY, POP, CLASSICAL, DANCE, LECTURES, FILMS, AND MORE, PROVIDING ENTERTAINMENT TO OVER 60,000 PATRONS ANNUALLY. SINCE 1997, ARTS AND EDUCATION PROGRAMS HAVE BEEN PROVIDED TO AREA STUDENTS AND FAMILIES, INCLUDING MASTER CLASS AND RESIDENCY OPPORTUNITIES; A SERIES OF SCHOOL-TIME SHOWS EXPOSING STUDENTS TO LIVE THEATRE AND CORRELATING THEATRICAL CONTENT TO STANDARDS-BASED CURRICULUM; AND SHOWS AND EVENTS FOR FAMILIES TO EXPERIENCE LIVE ENTERTAINMENT TOGETHER.

Program 2

Expenses: $16,271 Revenue: $46,685

SINCE ITS COMMENCEMENT IN 2011, SUMMER CAMP HAS HOSTED OVER 1,500 CHILDREN. THE CAMP UTILIZES PERFORMING ARTS, SUCH AS DRAMA, DANCE, MUSIC, AND TECHNICAL THEATRE, TO TEACH CAMPERS ABOUT TEAMWORK...

SINCE ITS COMMENCEMENT IN 2011, SUMMER CAMP HAS HOSTED OVER 1,500 CHILDREN. THE CAMP UTILIZES PERFORMING ARTS, SUCH AS DRAMA, DANCE, MUSIC, AND TECHNICAL THEATRE, TO TEACH CAMPERS ABOUT TEAMWORK, SELF-DISCIPLINE, PROBLEM-SOLVING, TOLERANCE, AND KINDNESS. SUMMER CAMP IS OFFERED AT AN AFFORDABLE RATE. SOME AREA FAMILIES REQUIRE FINANCIAL AID, AND FRIENDS OF THE LYRIC PROVIDES SCHOLARSHIPS TO FAMILIES DEMONSTRATING FINANCIAL NEED.

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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 $673,234

Program Service Revenue $2,296,952

Investment Income $92,303

Other Revenue $103,956

TOTAL REVENUE $3,166,445

Expense Breakdown

Grants Paid $0

Salaries & Benefits $981,522

Fundraising Expenses $275,188

Program Expenses $2,531,285

Other Expenses $2,085,191

TOTAL EXPENSES $3,066,713

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,166,445	$2,743,371	+0.2%
Expenses	$3,066,713	$2,695,570	+0.1%
Net Income	$99,732	$47,801	+1.1%

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

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

$195,268

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TODD LAYCOCK	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
MARY LAUB COWAN	BOARD VICE CHAIR	1.00	Officer Director	$0	$0	$0
ELLIOT M PAUL	BOARD VICE CHAIR	0.50	Officer Director	$0	$0	$0
HAROLD WALSH	TREASURER	1.00	Officer Director	$0	$0	$0
PRISCILLA BALDWIN	DIRECTOR	0.50	Officer Director	$0	$0	$0
FRANK M BYERS JR	DIRECTOR	0.50	Director	$0	$0	$0
STEPHEN FRY	DIRECTOR	0.50	Director	$0	$0	$0
SHARON HOLT	SECRETARY	0.50	Director	$0	$0	$0
EILEEN D MORRIS	DIRECTOR	0.50	Director	$0	$0	$0
LINDA WEIKSNAR	DIRECTOR	0.50	Director	$0	$0	$0
GEORGE F BELLOWS	DIRECTOR	0.50	Director	$0	$0	$0
KATHERINE MCGOVERN	DIRECTOR	0.50	Director	$0	$0	$0
KIA FONTAINE	PRESIDENT/CEO	40.00	Officer	$180,526	$14,742	$195,268

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	$3,166,445	$3,066,713	$6,413,548	$99,732
2023	$2,743,371	$2,695,570	$6,157,560	$47,801
2022	$3,072,716	$2,433,600	$5,924,513	$639,116
2021	$2,400,664	$1,113,843	$6,039,276	$1,286,821
2021	$2,316,818	$955,612	$5,970,696	$1,361,206
2020	$2,280,387	$2,333,482	$3,942,757	$-53,095
2019	$2,762,758	$2,695,494	$4,195,474	$67,264
2018	$2,850,978	$2,474,225	$3,999,975	$376,753