Lyric Theatre of Oklahoma Inc

Nonprofit profile at a glance

EIN
731001687
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Oklahoma City, OK, USA
Phone
4055249310
Rating
83
Verdict
STRONG
Rating confidence
Standard
Sector
Theater

Reported finances

Revenue
$5,294,158
Expenses
$6,113,640
Assets
$10,826,809
Liabilities
$3,771,184

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

45 people listed

Executive titles in this filing

  • DR ERIC FRIEDMAN MD (PRESIDENT)
  • ELLEN SPIROPOULOS (PRESIDENT-ELECT)
  • MONICA WITTROCK (IMMEDIATE PAST PRESIDENT)

Highest reported compensation

  • MICHAEL BARON (ARTISTIC DIRECTOR): $157,404 total reported compensation
  • JAMES B REYNOLDS JR (MANAGING DIRECTOR): $127,122 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To produce quality professional theatre in Oklahoma; to encourage and educate talented individuals; to promote collaboration among the arts in our community; and to enrich the quality of life for the people of Oklahoma.

What it reported doing in 2024

Lyric theatre is the states leading professional theatre company employing more than 200 actors, musicians, and designers annually. Founded in 1963, lyric serves over 150,000 adults and youth with a year-around season of classic to contemporary musicals and plays featuring artisits from Oklahoma and around the nation. Lyric creates full-scale productions on two stages at lyrics intimate 279-seat plaza theatre and the grand 2,400-seat civic center music hall. Lyric theatre is a regular recipient of press awards and critical acclaim for the excellence of its programming. Lyric theatre is a leader in theatrical training for youth with its thelma gaylord academy offering professional classes in all aspects of the performing arts. So that tuition fees are never a barrier to participation, lyric provides multiple scholarships each year to its ever growing and diverse student population. In addition, lyrics musical interactive theatrical touring program provides free-of-charge live theatre productions in schools throughout Oklahoma. More than 90 schools and 48,000 students are served annually through lyrics popular touring program that has visited communities in more than fifty Oklahoma counties. Significantly contributing to Oklahoma citys economy, lyric theatre attracts patrons from across Oklahoma and throughout our region. Most notably, lyrics placemaking role in the citys urban core was firmly established when it acquired and renovated the historic plaza theatre which became the leading cataylst for the thorough revitalization of the now vibrant plaza district. Lyric theatre is creating memorable experiences of, by and for Oklahoma.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 74
  • Accountability: 100
  • Sustainability: 31
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.6%; rating input score 97
  • Program expense ratio: 83.6%; rating input score 84
  • Fundraising efficiency: $9.3 raised per $1 spent on fundraising; rating input score 35; 35th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -15.5%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 1.77; rating input score 58; 58th percentile among comparable filings
  • Liabilities to assets ratio: 0.35; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 4.7%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 0.5% per year; rating input score 100; 16th percentile among comparable filings
  • Revenue growth: 1.7% per year; rating input score 100; 19th percentile among comparable filings
  • Asset growth: 1.7% per year; rating input score 100; 18th percentile among comparable filings

Details

  • Where the money goes: 96.6% of revenue deployed · 83.6% of spending went to programs
  • Governance: 43 of 43 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $5.1M in reported program spending
  • Leadership: top reported pay $157K · 45 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 35/100.
  • High — Sustainability: Operating margin scored 9/100.
  • Review — Sustainability: Total-asset coverage ratio scored 58/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.