Lyra Music Inc
Nonprofit profile at a glance
- EIN
- 300801912
- IRS 990-EZ coverage
- 2014–2025
- Forms available
- Form 990-EZ 2025, Form 990-N 2013
- Location
- Beacon, NY, USA
- Phone
- 9177055089
- Rating
- 91
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Arts, Culture, and Humanities
Reported finances
- Revenue
- $123,110
- Expenses
- $126,593
- Assets
- $47,996
- Liabilities
- $27,686
Source: IRS Form 990-EZ. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- MARY PRESCOTT (VICE PRESIDENT)
People named in this filing
- RACHEL ODO (EXECUTIVE DIR.)
- MARY PRESCOTT (VICE PRESIDENT)
- KIT VOIT (TREASURER)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The mission of lyra music is to enrich the lives of youth and build community through classical music. Founded in 2010 with a vision of enhancing the lives of young musicians and enriching communities through classical music training and performance, lyra music supports the musical, emotional and personal development of every participant through a nurturing, non-competitive environment where each student is encouraged to reach their full potential. Lyra music produces an annual summer workshop and music festival as well as a youth music competition for string players and pianists.lyra students are young musicians, ages 11-18, immersed in a supportive, nurturing community where they live, work, and play with their peers and the dedicated lyra faculty and staff.
What it reported doing in 2025
The lyra music festival is an outstanding series of summer classical music events based in hudson valley, ny (formally based in northampton ma). Each summer lyra music brings together world class musicians, outstanding young string players and pianists and an exceptional faculty of professional musicians and educators for concerts, master classes and outreach performances.lyra music festival guest artists have included musicians such as simone dinnersteain, frederic chiu, matthew zalkind, itamar zorman, sibbi bernhardsson, michael brown, dane johansen, spencer myer, alexi kenney, melissa white, and the horszoski triothe masterclasses aspect of our music festival provides lyra festival audiences to go behind-the-scenes, attend master classes where they will hear lyra music young artist performance program students perform and watch as these students receive one-on-one coaching with lyra music guest artists.
Operating model
- Revenue model
- Earned-program. 65% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 90
- Transparency & Controls: 100
- Sustainability: 22
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 91%; rating input score 91
- Program expense ratio: 88.5%; rating input score 89
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: -2.8%; rating input score 23; 23rd percentile among comparable filings
- Total-asset coverage ratio: 0.38; rating input score 31; 31st percentile among comparable filings
- Liabilities to assets ratio: 0.58; rating input score 8; 8th percentile among comparable filings
- Officer compensation ratio: 36.3%; rating input score 9; 9th percentile among comparable filings
Growth
- Program expense growth: 16% per year; rating input score 100; 70th percentile among comparable filings
- Revenue growth: 1.7% per year; rating input score 100; 26th percentile among comparable filings
- Asset growth: 9.2% per year; rating input score 100; 57th percentile among comparable filings
Details
- Where the money goes: 91% of revenue deployed · 88.5% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 3 filed program accomplishments · $112K in reported program spending
- Leadership: top reported pay $0 · 6 people listed
- Consistency: 8 of 8 current checks pass
- Schedules: 3 filed schedules
- Filing history: 12 filing years from 2014 to 2025
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- Related organizations: Filed and resolved organization relationships.
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Sustainability: Operating margin scored 23/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 31/100.
- High — Sustainability: Liabilities to assets ratio scored 8/100.
- High — Sustainability: Officer compensation ratio scored 9/100.