2024-05-09T09:50:28-05:00 2023-06-30 464187261 YOUNG & WADLINGTON PLLC 800 CORPORATE DR SUITE 230 LEXINGTON KY 40503 990 2022-07-01 272608879 LYRIC THEATRE & CULTURAL ARTS CENTER LYRI 8592802218 300 EAST THIRD STREET LEXINGTON KY 40508 CHRISTIAN ADAIR EXECUTIVE DIRECTOR 8592802218 2024-05-01 1 CHRISTIAN ADAIR 999009999 1 GWENDOLYN B YOUNG CPA CVA P00011207 8594751010 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z CHRISTIAN ADAIR 300 EAST THIRD STREET LEXINGTON KY 40508 543809 0 X WWW.LEXINGTONLYRIC.COM X 2010 KY 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. 13 13 9 25 0 0 147554 193025 180090 182652 3650 3740 119279 159320 450573 538737 0 0 0 0 171690 166113 0 0 0 151417 164714 323107 330827 127466 207910 500406 704272 62612 58568 437794 645704 X 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. 0 0 169350 190146 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. 169350 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 19 0 1 9 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 0 0 KY X X THE ORGANIZATION 8592802218 300 EAST THIRD STREET LEXINGTON KY 40508 PAT TATUM BOARD CHAIR 2.00 X X 0 0 0 CAROLYN DUNN SECRETARY 2.00 X X 0 0 0 WALLACE BARBER TREASURER 2.00 X X 0 0 0 TIFFANY DANIELS VICE CHAIR 2.00 X X 0 0 0 SEON JACKSON DIRECTOR 1.00 X 0 0 0 SUZANNE LEIBEE DIRECTOR 1.00 X 0 0 0 LLOYD ALVERSON DIRECTOR 1.00 X 0 0 0 PERCY THOMAS DIRECTOR 1.00 X 0 0 0 PAULA CAMPBELL-RUDD DIRECTOR 1.00 X 0 0 0 TAYNA FOGLE DIRECTOR 1.00 X 0 0 0 CHRIS FORD DIRECTOR 1.00 X 0 0 0 GEORGE BROWN DIRECTOR 1.00 X 0 0 0 OBIE TAYLOR DIRECTOR 1.00 X 0 0 0 WHIT WHITAKER EXECUTIVE DIRECTOR 40.00 X 65000 0 0 65000 0 0 0 0 0 0 0 105000 88025 193025 FACILITY MANAGEMENT FE 711110 127500 127500 PRODUCTION REVENUE 711110 38424 38424 AGENCY FEES 711110 16728 16728 182652 3740 3740 151826 0 151826 151826 151826 12471 5072 7399 7399 MISCELLANEOUS 711300 95 95 95 538737 190146 0 155566 52309 31385 20924 113804 18449 95355 32946 32946 19584 19584 6073 6073 1430 1430 1267 1140 127 7074 7074 PROGRAM EXPENSES 48432 48432 BOX OFFICE AND CREDIT C 18082 18082 SECURITY 7459 7459 DUES AND MEMBERSHIPS 7027 7027 15340 11719 3621 330827 169350 161477 0 493900 666855 4547 31875 281 133126 127584 1678 5542 500406 704272 62612 58568 62612 58568 X 430779 640594 7015 5110 437794 645704 500406 704272 207910 0 X X 0 1 X 1 0 X 69920 136327 120111 147554 193025 666937 69920 136327 120111 147554 193025 666937 666937 101937 75487 18150 107377 133839 436790 1103727 766027 0.60430 0.55510 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 133126 127584 5542 5542 X 543809 5072 5072 538737 0 538737 335899 5072 5072 330827 0 330827 PART X, LINE 2: THE THEATRE FOLLOWS THE PROVISIONS OF FASB ASC 740-10 "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES." FASB ASC 740-10 CLARIFIES THE ACCOUNTING FOR INCOME TAXES BY PRESCRIBING A MINIMUM RECOGNITION THRESHOLD A TAX POSITION IS REQUIRED TO MEET BEFORE BEING RECOGNIZED. FASB ASC 740-10 ALSO PROVIDES GUIDANCE ON DERECOGNIZING, MEASUREMENT, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNT IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. THE THEATRE HAS NOT RECOGNIZED A LIABILITY FOR UNRECOGNIZED TAX BENEFITS. THE THEATRE'S 2019 THROUGH 2022 TAX YEARS REMAIN SUBJECT TO EXAMINATION BY THE IRS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CONCESSIONS AND MERCHANDISE SOLD 5,072. PART XII, LINE 2D - OTHER ADJUSTMENTS: CONCESSIONS AND MERCHANDISE SOLD 5,072. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS DISCUSSED IN DETAIL WITH THE BOARD CHAIR, TREASURER, AND EXECUTIVE DIRECTOR. EACH BOARD MEMBER RECEIVED AN ELECTRONIC COPY OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS PROVIDED TO EACH BOARD MEMBER ANNUALLY WHICH DISCLOSES ANY CONFLICTS OF INTEREST, IF APPLICABLE. THE BOARD WILL PERIODICALLY DISCUSS IF THERE ARE ANY ISSUES THAT WARRANT DISCLOSURE. FORM 990, PART VI, SECTION B, LINE 15A THE ORGANIZATION PERSONNEL COMMITTEE WAS FORMED TO DETERMINE THE COMPENSATION AND HIRNG OF THE EXECUTIVE DIRECTOR. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS FOR SELECTION OF THE INDEPENDENT AUDITOR HAS NOT CHANGED FROM THE PRIOR YEAR.