FRIENDS OF THE LYRIC INC

EIN: 650016846 501(c)(3) Arts, Culture & Humanities

STUART, FL

Total Revenue
$3,166,445
Total Expenses
$3,066,713
Total Assets
$6,413,548
Net Assets
$5,326,147
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1987
Legal Domicile
FL
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

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.

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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 (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

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Liquidity & Cash Position

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Governance

Voting Members
12
Independent Members
12
Employees
41
Volunteers
95

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
6
$195,268
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
0
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
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
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