The Thelma Gaylord Lyric Theatre Endowment Fund

Nonprofit profile at a glance

EIN
010598137
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Oklahoma City, OK, USA
Phone
4055249310
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$167,966
Expenses
$547,550
Assets
$4,866,796
Liabilities
$0

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

Leadership & pay

10 people listed

Executive titles in this filing

  • CARL SHORTT (PRESIDENT)
  • SARAH FISHER (LYRIC THEATRE PAST PRESIDENT)

People named in this filing

  • CARL SHORTT (PRESIDENT)
  • DAVID DOBSON (SECRETARY)
  • PATRICIA AUSTIN (BOARD MEMBER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Established for the financial support of lyric theatre including: a. To establish and administer a monetary fund to be used for lyric theatre and its educational and benevolent projects as well as promote lyric theatres purposes. B. To provide funds for additions and improvements to the real and personal property of lyric theatre and for the repairs and maintenance of lyric theatre property. C. To promote, encourage and enhance benevolent giving by the patrons of lyric theatre and others by the solicitation, acceptance, and receipt of contributions from individuals and others to be used by the organization in the furtherence fo lyric theatres purposes. D. To provide an entity to which the present and future endowment funds of lyric theatre may be transferred for investment and administration in conformity with the charitable, theatre and educational purposes of lyric theatre.

What it reported doing in 2024

The organization transferred grants to lyric theatre to support operations of the theatre.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 93
  • Accountability: 76
  • Sustainability: 44
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 94.5%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -226%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 8.89; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 29.7% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: 6.9% per year; rating input score 100; 62nd percentile among comparable filings
  • Asset growth: -1% per year; rating input score 0; 21st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 94.5% of spending went to programs
  • Governance: 10 of 10 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $518K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Asset growth scored 0/100.