Form 990 for tax year 2022
Filed by LYRIC THEATRE AND CULTURAL ARTS CENTER.
Totals
- Total revenue
- $538,737
- Total expenses
- $330,827
- Contributions and grants received
- $193,025
- Grants paid
- $0
- Program service revenue
- $182,652
- Investment income
- $3,740
- Other revenue
- $159,320
- Total assets, end of year
- $704,272
- Total liabilities, end of year
- $58,568
- Net assets or fund balances, end of year
- $645,704
- Program services expenses (Part IX)
- $169,350
- Management and general expenses
- $161,477
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $169,350
Program services were 51.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$105,000
-
1f · All other contributions, gifts and grants
$88,025
-
2a · Program service revenue: FACILITY MANAGEMENT FE
total $127,500 · related or exempt $127,500
-
2b · Program service revenue: PRODUCTION REVENUE
total $38,424 · related or exempt $38,424
-
2c · Program service revenue: AGENCY FEES
total $16,728 · related or exempt $16,728
-
3 · Investment income
total $3,740 · excluded $3,740
-
6a · Gross rents
real property $151,826
-
6b · Less rental expenses
real property $0
-
6c · Rental income or loss
real property $151,826
-
6d · Net rental income or loss
total $151,826 · excluded $151,826
-
10a · Gross sales of inventory
$12,471
-
10b · Cost of goods sold
$5,072
-
10c · Net income from sales of inventory
total $7,399 · related or exempt $7,399
-
11a · Other revenue: MISCELLANEOUS
total $95 · related or exempt $95
-
11e · Other revenue, total
$95
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $52,309 · program services $31,385 · management and general $20,924
-
6 · Compensation of disqualified persons
total $113,804 · program services $18,449 · management and general $95,355
-
11c · Fees: accounting
total $32,946 · management and general $32,946
-
11g · Fees: other
total $19,584 · program services $19,584
-
12 · Advertising and promotion
total $6,073 · program services $6,073
-
17 · Travel
total $1,430 · management and general $1,430
-
22 · Depreciation, depletion and amortization
total $1,267 · program services $1,140 · management and general $127
-
23 · Insurance
total $7,074 · management and general $7,074
-
24a · Other expenses: PROGRAM EXPENSES
total $48,432 · program services $48,432
-
24b · Other expenses: BOX OFFICE AND CREDIT C
total $18,082 · program services $18,082
-
24c · Other expenses: SECURITY
total $7,459 · program services $7,459
-
24d · Other expenses: DUES AND MEMBERSHIPS
total $7,027 · program services $7,027
-
24e · All other expenses
total $15,340 · program services $11,719 · management and general $3,621
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $493,900 · end of year $666,855
-
3 · Pledges and grants receivable
beginning of year $4,547 · end of year $31,875
-
9 · Prepaid expenses and deferred charges
beginning of year $281
-
10a · Land, buildings and equipment: cost or other basis
$133,126
-
10b · Land, buildings and equipment: accumulated depreciation
$127,584
-
10c · Land, buildings and equipment, net
beginning of year $1,678 · end of year $5,542
-
17 · Accounts payable and accrued expenses
beginning of year $62,612 · end of year $58,568
-
27 · Net assets without donor restrictions
beginning of year $430,779 · end of year $640,594
-
28 · Net assets with donor restrictions
beginning of year $7,015 · end of year $5,110
Mission and programs · 2022
Mission
THE MISSION OF THE LYRIC THEATRE AND CULTURAL ARTS CENTER IS TO PRESERVE, PROMOTE, PRESENT AND CELEBRATE DIVERSE CULTURES WITH SPECIAL EMPHASIS ON AFRICAN-AMERICAN CULTURAL HERITAGE THROUGH ARTISTIC PRESENTATIONS OF THE HIGHEST QUALITY, EDUCATIONAL PROGRAMMING AND OUTREACH.
Activities or mission (Part I)
THE MISSION OF THE LYRIC THEATRE & CULTURAL ARTS CENTER IS TO PRESERVE, PROMOTE, PRESENT, AND CELEBRATE DIVERSE CULTURES THROUGH ARTISTIC PRESENTATIONS OF THE HIGHEST QUALITY, EDUCATIONAL PROGRAMMING AND OUTREACH, FILM, AND OPPORTUNITIES FOR COMMUNITY INCLUSION.
-
IN 2023, THE LYRIC THEATRE AND CULTURAL ARTS CENTER CONTINUED TO UPHOLD ITS MISSION OF CELEBRATING DIVERSITY AND FOSTERING COMMUNITY THROUGH A SERIES OF DYNAMIC CULTURAL EVENTS. WITH A REMARKABLE 4.7 OUT OF 5 STARS FROM 599 GOOGLE REVIEWS, THE LYRIC GARNERED PRAISE FOR ITS COMMITMENT TO EXCELLENCE. ADDITIONALLY, THE ORGANIZATION FORMED FOUR PARTNERSHIPS WITH EDUCATIONAL INSTITUTIONS, EXPANDING ITS REACH AND IMPACT WITHIN THE COMMUNITY. NOTABLY, THERE WAS A SIGNIFICANT BOOST IN CONCESSIONS AND MERCHANDISE INCOME, ALONG WITH A NEARLY 50% RISE IN TICKET SALES, INDICATING STRONG SUPPORT AND ENGAGEMENT FROM PATRONS.MOREOVER, THE LYRIC SAW A TRIPLE INCREASE IN DONATIONS AND GRANTS, A TESTAMENT TO ITS GROWING INFLUENCE AND RECOGNITION WITHIN THE PHILANTHROPIC COMMUNITY. DESPITE THESE ACHIEVEMENTS, THE ORGANIZATION ALSO DEMONSTRATED FISCAL RESPONSIBILITY, WITH A NOTABLE 33% DECREASE IN PROGRAM EXPENSES. FURTHERMORE, THE LYRIC SERVED AS A VITAL CULTURAL HUB BY HOSTING FIVE FINE ARTS EXHIBITIONS AND EVENTS, AS WELL AS THREE FREE, SOLD-OUT COMMUNITY EVENTS FOCUSED ON CULTURE. THROUGH INITIATIVES LIKE WEEKLY LINE DANCING CLASSES PROMOTING MENTAL AND PHYSICAL HEALTH, AND PROVIDING A PLATFORM FOR LOCAL FILMMAKERS AND PRODUCERS, THE LYRIC CONTINUED TO ENRICH THE LIVES OF ITS PATRONS AND CONTRIBUTE TO THE CULTURAL VIBRANCY OF LEXINGTON.
Expenses $169,350 · Revenue $190,146
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Pat TatumPAT TATUM
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Carolyn DunnCAROLYN DUNN
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Wallace BarberWALLACE BARBER
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Tiffany DanielsTIFFANY DANIELS
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Seon JacksonSEON JACKSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Suzanne LeibeeSUZANNE LEIBEE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Lloyd AlversonLLOYD ALVERSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Percy ThomasPERCY THOMAS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Paula Campbell-RuddPAULA CAMPBELL-RUDD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tayna FogleTAYNA FOGLE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Chris FordCHRIS FORD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
George BrownGEORGE BROWN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Obie TaylorOBIE TAYLOR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Whit WhitakerWHIT WHITAKER
EXECUTIVE DIRECTOR
- Total calculated
- $65,000
- From this org
- $65,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 1 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202411309349300531
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