2015-05-12T13:46:50-07:00 2014-06-30 990 2013-07-01 366008929 Lyric Opera of Chicago LYRI 3123322244 20 N Wacker Dr Chicago IL 60606 R Brent Fisher Asst Treas/Dir Finan 2015-05-12 2013 2016-03-07 17:11:31Z Freud Anthony c/o LOC 20 N Wacker Dr Chicago IL 60606 125210702 false false X www.lyricopera.org X 1954 IL Lyric Opera of Chicago exists to provide a broad, deep, and relevant cultural service to the Chicago region and the nation, and to advance the development of the art form of opera. 107 96 963 350 246953 17901844 54895389 3912539 29793368 790235 3940068 287224 1903941 22891842 90532766 256940 1076914 0 4610190 42847475 95 5234 4136921 4625908 31856525 9493133 75786148 13398709 14746618 282918826 321775795 97250137 97084176 185668689 224691619 We believe in the life-changing, transformational, revelatory power of great art and opera. Lyric Opera of Chicago exists to provide a broad, deep, and relevant cultural service to the Chicago region and the nation, and to advance the development of the art form of opera by: Producing and performing consistently thrilling, world-class opera, with a balanced repertoire that encompasses core classics, lesser-known masterpieces, and new works. Creating a diverse, innovative, wide-ranging program of community engagement and education activities that reaches the widest possible public. Developing exceptional emerging operatic talent. false false 63993978 1076914 29775886 During the fiscal year, 67 opera performances, 29 performances of one musical, 2 concerts and 8 final dress rehearsals were produced by Lyric Opera of Chicago. These performances were attended by approximately 289,600 people. 912054 277799 Lyric Unlimited, an initiative of Lyric Opera of Chicago, offers a multifaceted program of expanded community engagement and artistic initiatives and includes Lyric's longstanding educational programs.Lyric seeks to enrich the lives of Chicago-area children and adults through high-quality, accessible arts education, which focuses on cultivating a lifelong appreciation of opera and creating audiences for the future.Lyric's school programs embrace arts education as a core subject and promote cross-curricular integration while fulfilling state learning standards. Community programs provide education on a variety of levels, from novice to expert, which heighten the opera-going experience.More than 800 youth and adult programs were held throughout the year. Most of these activities took place at various locations throughout the Chicagoland area. Attendance for these educational activities totaled approximately 110,900. Please note, as required by the instructions, the revenue disclosed here does not include contributed revenue for these programs. 179952 103268 Eleven other public performances were held in the facility during the fiscal year, with total attendance of approximately 20,300. 65085984 true true false false false false false false true true true true false false true true false true false false true false false false true true false true false true true false false false false false false false true false false true false false false false false false false false false true X 293 1 true 963 true true false false false false true true true 3 false false false false false false false false false false X 107 96 true false false false true true false true true false true true false true true true true true false true false X RB Fisher Lyric Opera of Chgo 3123322244 20 N Wacker Dr 860 Chicago IL 60606 Kiphart Richard P Chairman 2.50 0.00 X X 0 0 0 Pigott Kenneth G President & CEO 6.00 0.00 X X 0 0 0 Crown Lester Exec Cmte Chair 1.00 0.00 X X 0 0 0 Alexander James L Vice President 3.00 0.00 X X 0 0 0 Davis Sir Andrew Vice President 1.00 0.00 X X 0 0 0 Fleming Renee Vice President 1.00 0.00 X X 0 0 0 Ryan Shirley Welsh Vice President 1.50 0.00 X X 0 0 0 Vance William C Vice President 1.50 0.00 X X 0 0 0 Van Eekeren Donna Secretary 1.50 0.00 X X 0 0 0 Carbone Paul J Treasurer 2.50 0.00 X X 0 0 0 Abelson Katherine A Trustee 0.50 0.00 X 0 0 0 Addington MD Whitney Trustee 1.00 0.00 X 0 0 0 Amboian John P Trustee 1.00 0.00 X 0 0 0 Anderson Paul F Trustee 0.50 0.00 X 0 0 0 Barden Larry A Trustee 0.50 0.00 X 0 0 0 Baskes Julie Trustee 1.50 0.00 X 0 0 0 Bay Jr James N Trustee 0.50 0.00 X 0 0 0 Berlin Melvin Trustee 0.50 0.00 X 0 0 0 Buchbinder Gilda Trustee 1.00 0.00 X 0 0 0 Bulley III Allan E Trustee 1.00 0.00 X 0 0 0 Cameron Marion A Trustee 1.50 0.00 X 0 0 0 Carpenter David W Trustee 1.00 0.00 X 0 0 0 Christen Timothy L Trustee 1.00 0.00 X 0 0 0 Colburn Richard W Trustee 1.00 0.00 X 0 0 0 Cole Michael P Trustee 1.50 0.00 X 0 0 0 Couto Vinay Trustee 1.00 0.00 X 0 0 0 Crowe John V Trustee 1.00 0.00 X 0 0 0 Cruzan Marsha Trustee 1.00 0.00 X 0 0 0 DeCross Derek Trustee 0.50 0.00 X 0 0 0 Drake Ann Trustee 1.00 0.00 X 0 0 0 Edelman John D Trustee 1.00 0.00 X 0 0 0 Edlis Stefan T Trustee 1.00 0.00 X 0 0 0 Eichelberger Sheri A Trustee 1.00 0.00 X 0 0 0 Eisen Lois Trustee 0.50 0.00 X 0 0 0 Farrell W James Trustee 0.50 0.00 X 0 0 0 Ferguson Mark E Trustee 1.00 0.00 X 0 0 0 Ferro Jr Michael W Trustee 0.50 0.00 X 0 0 0 Field Lawrence I Trustee 0.50 0.00 X 0 0 0 Fisher Russell W Trustee 0.50 0.00 X 0 0 0 Florian Sonia Trustee 1.00 0.00 X 0 0 0 Gidwitz Ronald J Trustee 1.50 0.00 X 0 0 0 Gillis Ruth Ann M Trustee 1.50 0.00 X 0 0 0 Gledhill Brent W Trustee 1.50 0.00 X 0 0 0 Gofen Ethel C Trustee 0.50 0.00 X 0 0 0 Gottlieb Howard L Trustee 1.50 0.00 X 0 0 0 Gray Avrum Trustee 1.00 0.00 X 0 0 0 Gray Melvin Trustee 1.00 0.00 X 0 0 0 Green Maria C Trustee 0.50 0.00 X 0 0 0 Gross Dietrich M Trustee 1.00 0.00 X 0 0 0 Hay Mary Pat Trustee 1.00 0.00 X 0 0 0 Heagy Thomas C Trustee 0.50 0.00 X 0 0 0 Hightman Carrie J Trustee 1.00 0.00 X 0 0 0 Hirschfield Eric L Trustee 1.00 0.00 X 0 0 0 Hurvis J Thomas Trustee 2.00 0.00 X 0 0 0 Jones Gregory K Trustee 1.00 0.00 X 0 0 0 Jordan II John W Trustee 0.50 0.00 X 0 0 0 Knowles Nancy W Trustee 1.00 0.00 X 0 0 0 Lakonishok Josef Trustee 1.50 0.00 X 0 0 0 Levy Richard A Trustee 1.00 0.00 X 0 0 0 Livingston Robert A Trustee 0.50 0.00 X 0 0 0 Mabie James W Trustee 2.00 0.00 X 0 0 0 Martin Craig C Trustee 1.50 0.00 X 0 0 0 McBreen Maura Ann Trustee 1.50 0.00 X 0 0 0 McCullen Robert J Trustee 1.00 0.00 X 0 0 0 McGarvie Blythe J Trustee 1.00 0.00 X 0 0 0 McKenna Andrew J Trustee 1.00 0.00 X 0 0 0 Modruson Frank B Trustee 1.50 0.00 X 0 0 0 Morrison Robert S Trustee 0.50 0.00 X 0 0 0 Muchin Allan B Trustee 1.50 0.00 X 0 0 0 Myers Linda K Trustee 1.00 0.00 X 0 0 0 Neal Jeffrey C Trustee 1.00 0.00 X 0 0 0 Neil Sylvia Trustee 1.50 0.00 X 0 0 0 Norgan Ken R Trustee 1.00 0.00 X 0 0 0 Oberlander Sharon F Trustee 1.50 0.00 X 0 0 0 Oleniczak John W Trustee 2.00 0.00 X 0 0 0 Olopade Olufummilayo Trustee 1.00 0.00 X 0 0 0 Ormesher David T Trustee 2.00 0.00 X 0 0 0 Osborn William A Trustee 1.00 0.00 X 0 0 0 Parr Matthew J Trustee 0.50 0.00 X 0 0 0 Piller Bruce J Trustee 0.50 0.00 X 0 0 0 Randel Don M Trustee 0.50 0.00 X 0 0 0 Reyes J Christopher Trustee 1.00 0.00 X 0 0 0 Reynolds III Thomas A Trustee 0.50 0.00 X 0 0 0 Roche Collin E Trustee 1.00 0.00 X 0 0 0 Rosenkranz Ricardo Trustee 0.50 0.00 X 0 0 0 Rouse Edward B Trustee 1.50 0.00 X 0 0 0 Rubinelli Jr Joseph O Trustee 1.00 0.00 X 0 0 0 Sandner John F Trustee 0.50 0.00 X 0 0 0 Saran Claudia M Trustee 1.00 0.00 X 0 0 0 Schreiber Rodd M Trustee 1.00 0.00 X 0 0 0 Schreuder Jana R Trustee 1.00 0.00 X 0 0 0 Serlin Marsha Trustee 1.50 0.00 X 0 0 0 Shapiro Brenda M Trustee 2.00 0.00 X 0 0 0 Smith Eric S Trustee 1.50 0.00 X 0 0 0 Szokol Pam Trustee 1.00 0.00 X 0 0 0 Thierer Mark A Trustee 1.00 0.00 X 0 0 0 Thomas Cheryl T Trustee 1.00 0.00 X 0 0 0 Tilton Glenn Trustee 0.50 0.00 X 0 0 0 Tolan Mary A Trustee 0.50 0.00 X 0 0 0 Wagner Mark A Trustee 0.50 0.00 X 0 0 0 Washlow Roberta L Trustee 0.50 0.00 X 0 0 0 White Miles D Trustee 0.50 0.00 X 0 0 0 Freud Anthony Gen Dir & COO 40.00 0.00 X X 616057 0 49236 Landmesser Drew Deputy Gen Dir 40.00 0.00 X X 372092 0 50910 Selander Mary L Asst Secretary 40.00 0.00 X X 298763 0 36600 Mathieson Mayer Susan Asst Secretary 40.00 0.00 X X 304080 0 52328 Fisher R Brent Asst Treasurer 40.00 0.00 X X 183248 0 52701 Jabin Christopher Dir Institutl Giv 40.00 0.00 X 254671 0 19193 Reilly Jr William Master Carpenter 40.00 0.00 X 220470 0 61731 Reynolds Michael C Master Electrician 40.00 0.00 X 197890 0 55714 Christopher Paul Head A/V Technicia 40.00 0.00 X 183350 0 51628 Barker Michael Head Flyman 40.00 0.00 X 176141 0 49320 Richard Dowsek Retired Dir of Finance/Admin 20.00 0.00 X 126621 0 0 2933383 479361 86 true true false Calihan Catering 833 W Haines Chicago IL 60622 Catering 837711 Fleming Ross Inc 200 West 86th St New York NY 10024 Singer/Creative Cnsl 769789 Sirad Inc 215 W Washington St Chicago IL 60606 Conductor/Music Dir 578823 Jewell Events Catering 424 N Wood St Chicago IL 60022 Catering 575076 Allied Live LLC 5 Penn Plaza New York NY 10001 Advertising Agency 557720 29 2429898 60208 52405283 1916199 54895389 Educational Activities 711190 255283 255283 Production Rentals 711190 229692 229692 Rntl-Othr Musical Perfs 711190 103268 103268 Ticket Hndlg/Exchg Fees 711190 467820 467820 Ticket Sales 711190 28693983 28693983 43322 43322 29793368 2256551 47823 2208728 0 0 0 34377164 7100 32696707 4040 1680457 3060 1683517 3060 1680457 1075797 2429898 1730011 -654214 -654214 17400 4625 12775 12775 1062188 242553 819635 20632 37347 761656 Dining Spaces 900099 1001275 1001275 Facilities Events Fees 900099 339893 339893 Party Reception Income 532000 205598 111923 93675 178979 49860 129119 1725745 90532766 30156953 246953 5233471 X 1076914 1076914 0 0 0 1805193 590041 564261 650891 0 31843691 27536142 2525138 1782411 2728121 2472395 155302 100424 3997072 3531709 316700 148663 2473398 2089162 234509 149727 0 34094 34094 50500 50500 0 5234 5234 908581 895890 12691 9395622 8684303 254943 456376 3306809 3306809 1539506 1042711 201637 295158 587192 28684 558508 596959 596959 1775149 1546896 165012 63241 921125 632819 197951 90355 0 20599 6359 5165 9075 2123374 2080899 30563 11912 0 3254220 3162934 91286 701012 448887 252125 Production Exp- Purch/Rntl etc 5695742 5695742 Donated Opera Books/Photos/CDs 227915 227915 Radio Syndication Fees 163500 163500 Amortization of Gift Annuities 107210 107210 447416 130110 63753 253553 75786148 65085984 6563243 4136921 X 3755547 702796 5118113 576320 40715285 59360273 1624896 1133021 0 0 0 13020 12172 4132625 3926127 102416244 54534014 49000620 47882230 69584187 84931931 108933733 123208925 0 0 40800 42000 282918826 321775795 7133192 7455325 14514188 13737636 65700000 65700000 9902757 10191215 97250137 97084176 X 95040996 107952506 66007882 91402195 24619811 25336918 185668689 224691619 282918826 321775795 X 14746618 24964406 -688094 X false true X true false X 23882388 24818861 31898109 17901844 54895389 153396591 0 0 23882388 24818861 31898109 17901844 54895389 153396591 10529823 142866768 2193399 2330166 2393307 523961 2304895 9745728 0 3060966 4152800 2622341 560121 3170265 13566493 176708812 109044177 0.80850 0.79290 X Additional Supplemental Information - Support Schedule In 2013 Lyric Opera changed its fiscal year end from April 30 to June 30. The Support Schedule periods for Part II are: 2009 (5/1/10-4/30/11), 2010 (5/1/11-4/30/12), 2011 (5/1/12-4/30/13), 2012 (5/1/13-6/30/13, short year) and 2013 (7/1/13-6/30/14). RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED true 52094 52094 false 43529952 717107 7494297 1896590 254898 49589868 42338710 1896279 -316688 352893 35456 43529952 39896727 10000 4707217 2076056 199178 42338710 42428058 22511 -655904 1775870 122068 39896727 36889986 43168 7487441 1779435 213102 42428058 0.51090 0.48910 true false false 696577 696577 89334601 47711342 41623259 10037446 5410660 4626786 2347620 1412012 935608 47882230 123208925 Annuities Payable 908251 Interest Rate Swap Contract 9282964 10191215 X Part IV, Line 1b: Why is organization an agent, trustee, custodian or other intermediary for contrib Lyric Opera acts as custodian of all assets and paymaster for payments for the Ryan Opera Center, to facilitate better controls and cost effectiveness. Part V, Line 4: Intended uses of the endowment fund. The Opera's endowment is comprised of donor-restricted endowment funds. Related net assets are classified and reported based on the existence or absence of donor-imposed restrictions.The Opera's Board of Directors has approved a spending policy which allows for the transfer of 5% of the trailing twelve quarter balance of the managed portfolio at December 31 of the previous fiscal year, including endowment balances, to be used to support operations and fund debt service. The spending rate approximates the return objective of the fund allowing for the preservation of purchasing power and growth of the managed portfolio through investment returns in excess of the objective and new gifts. Part X : FIN48 Footnote The Opera is exempt from federal income taxes under the provisions of Section 501(c)(3) of the Internal Revenue Code. The Opera has concluded there were no material uncertain tax positions nor does the Opera expect the total amount of unrecognized tax benefits to significantly change in the next 12 months. The Opera would recognize interest and penalties related to unrecognized tax positions in interest and income tax expense, respectively. However, the Opera has no amounts accrued for interest or penalties as of June 30, 2014 and 2013. There are no on-going federal, state or local tax audits, however, the Opera's tax returns for 2011 and subsequent years remain open to examination. Europe 0 0 Program Services Artistic/Production costs 2012000 North America 0 0 Program Services Artistic/Production costs 162000 East Asia & The Pacific 0 0 Program Services Artistic/Production costs 4000 South Asia 0 0 Program Services Artistic/Production costs 2000 Central Amer & Caribbean 0 0 Investments 56587000 Europe 0 0 Management/General 3000 North America 0 0 Management/General 1000 Europe 0 0 Fundraising-see page 5 208000 58979000 58979000 true false true true true false Part I - Additional Supplemental Information 3(8). To encourage Board and Sponsorship development, Lyric Opera sponsors an annual event for certain board members to participate in operatic and cultural events in a foreign locale. Expenses for lodging, meals, and events are paid by Lyric and reimbursed by the attending board members. false Opera Ball 669680 587330 82350 11427 115174 12602 120396 Fantasy of the Opera 625403 521650 103753 31365 61283 12400 121183 10 2210612 1320918 889694 42126 267611 795 933649 3505695 2429898 1075797 84918 444068 25797 1175228 1730011 -654214 false false 17400 4625 true 0.91000 17400 4625 4625 12775 IL true false true false 1.00000 Janice Shucart c/o Lyric Opera 20 N Wacker Dr Chicago IL 60606 false Janice Shucart License renewal X true 12775 STM01 Part II: The mechanics of Schedule G require that we remove charitable contributions collected at the special event, in order to determine income or loss on events. $2.4 million of charitable contibutions were collected (Schedule G, Part II, line 2) for a true net income of $1.8 million collected at these events.Part III, line 16: Janice Shucart renews the Lyric Opera of Chicago's gaming license every year. No compensation is reported as this is an incidental part of her job. Part III, Line 17b - Distributions Required Under State Law IL $12775 true Patrick G & Shirley W Ryan Opera Center 20 North Wacker Drive Chicago IL 60606 362796630 501(c)(3) 1076914 0 opera school 1 0 Grantmaker's Description of How Grants are Used All Ryan Opera Center expenses are paid through Lyric Opera of Chicago. Procedures are in place to monitor expenses to ensure they are used for purposes consistent with Lyric's mission. X X true true X X X X X false false false false false false false false false false Barker Michael Head Flyman 176141 33467 15853 225461 Christopher Paul Head A/V Technicia 183350 35033 16595 234978 Fisher R Brent Asst Treasurer 183248 42972 9729 235949 Freud Anthony Gen Dir & COO 580411 35646 33949 15287 665293 Jabin Christopher Dir Institutl Giv 254671 19193 273864 Landmesser Drew Deputy Gen Dir 323876 48216 42648 8262 423002 Mathieson Mayer Susan Asst Secretary 281010 23070 44246 8082 356408 Reilly Jr William Master Carpenter 220470 41889 19842 282201 Reynolds Michael C Master Electrician 197890 37806 17908 253604 Richard Dowsek Retired Dir of Finance/Admin 99996 26625 126621 Selander Mary L Asst Secretary 292813 5950 35946 654 335363 Part I, Line 1a: Relevant information in regards to selections on 1a. To encourage Board and Sponsorship development, Lyric Opera sponsors an annual event for certain board members and their significant others to participate in operatic and cultural events in a foreign locale. Both the General Director and the Director of Development, along with their spouses, attend and are an integral daily part of this event. None of the costs are taxed to the employees, as the trip is for bona fide business purposes for Lyric Opera.In accordance with the terms of his contract when hired, Lyric Opera reimburses Mr. Freud for his health club dues, which are a taxable benefit. A Illinois Finance Authority 861091967 noneavail 2008-08-18 3500000 Purchase, construct & equip add'l Civic Opera Bldg space false false A 3500000 6382 70000 3436382 2009 false false true true A false false false false 0.00500 0.00500 false false true A false false true false false false false true A true A Davis-Music DirConduct Trustee 710148 Contracted Consultant false R Fleming-ConsultSinger Trustee 713675 Contracted Consultant false R Colburn- Trustee WTTW Trustee 228190 WTTW-normal course of biz false J Schreuder-PresPFNorthrn Trustee 132513 NorthernTr-norm course biz false E Smith-Mg Dir Chase Invst Trustee 366167 Chase-normal course of biz false G Tilton-Chr Midwst Chase Trustee 366167 Chase-normal course false X 77 1642699 FMV date rec'd X Auction items 97 27545 Donor est X Office furnitur 10 8040 Donor est X Costume items 1 1500 Donor est X CDs, music scor 1510 8500 Donor est X Opera materials 531 227915 Appraisal 5 false true true Part I, Line 32, Hire and Use of Third Parties Lyric Opera of Chicago hired Auctions By Cellular to coordinate and process electronic bidding on their devices for the auction portion of the Fantasy of the Opera event. Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et John P. Amboian, Lester Crown, Michael W. Ferro, Jr., Richard P. Kiphart, Andrew J. McKenna and J. Christopher Reyes- business relationshipMichael P. Cole and Collin E. Roche- business relationshipLester Crown, W. James Farrell, Michael W. Ferro and Miles D. White- business relationshipLester Crown and Ruth Ann M. Gillis- business relationshipLester Crown and William A. Osborn- business relationshipLester Crown, Eric S. Smith and Glenn F. Tilton- business relationshipMarsha Cruzan, Ronald J. Gidwitz and Ruth Ann M. Gillis- business relationshipMarsha Cruzan, Ruth Ann M. Gillis and Marsha Serlin- business relationshipW. James Farrell, Ronald J. Gidwitz, Andrew J. McKenna, Robert S. Morrison, William A. Osborn, J. Christopher Reyes, John F. Sandner and Miles D. White- business relationshipW. James Farrell and Robert S. Morrison- business relationshipW. James Farrell, William A. Osborn, Glenn Tilton and Miles D. White- business relationshipMichael W. Ferro, Jr. and J. Christopher Reyes -business relationshipBrent W. Gledhill, Richard P. Kiphart and James W. Mabie- business relationshipJohn W. Jordan, II, J. Christopher Reyes and Shirley Welsh Ryan- business relationshipAndrew J. McKenna, J. Christopher Reyes, Shirley Welsh Ryan and John F. Sandner- business relationshipAndrew J. McKenna and Miles D. White- business relationshipWilliam A. Osborn and J. Christopher Reyes- business relationship Form 990, Part VI, Line 11b: Form 990 Review Process The Lyric Opera of Chicago Form 990 and Schedules are prepared and reviewed by Lyric staff. A review is then performed by our Tax Advisor. The Tax Advisor oversees the discussion and review of the Form 990 with members of the Lyric Opera Audit Committee, along with appropriate Lyric staff. The entire Form 990 and Form 990-T package is sent along with a summary memo, via email, to all Members of the Lyric Opera of Chicago Audit Committee prior to filing electronically with the IRS. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts Lyric Opera maintains a Conflict of Interest Policy which applies to all Directors, officers of auxiliary organizations authorized by the Opera, as well as senior management and other designated members of the staff. The Policy requires each person to whom the policy applies to complete an annual disclosure questionnaire which identifies a business or financial interest of that person which is planning to engage in a business transaction with the Opera, or has engaged in a business transaction with the Opera during the preceding year.The Policy forbids such individuals from voting on or using their personal influence in connection with such transactions. In the event the Opera does conduct business with a related party, the financial terms of those relationships are reported annually to the Audit Committee, whose members must be independent per the terms of its charter.The Opera requires each full-time non-union employee to conduct themselves in accordance with the Code of Business Conduct and Ethics, approved by the Opera's Board of Directors, and to sign an annual statement acknowledging their understanding of this Code. Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees The process of determining compensation of other officers or key employees (anyone earning more than $150,000) included the following:1) The Compensation Committee, made up of nine independent board members, reviewed the fiscal 2014 compensation arrangements on May 14, 2013. 2) Comparability data included benchmark comparisons from peer industry organizations based on size of revenue and operating budget as well as scope of management responsibility. Compensation surveys sponsored by professional/trade organizations were also reviewed. 3) Recommendations, as well as any deliberation, were documented in the Compensation Committee minutes. A report to the Board with respect to compensation recommendations was reflected in the Board meeting minutes. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available Lyric Opera of Chicago posts audited financial statements on its website. Governing documents and conflicts of interest policy are not required disclosures pursuant to IRC Sec. 6104. These documents are not available to the public at this time. Other Changes In Net Assets Or Fund Balances - Other Decreases Change in Severance Plans' Valuation = -$332709 Other Changes In Net Assets Or Fund Balances - Other Decreases Ryan Opera Center- Net Assets, from consolidated = -$60000 Other Changes In Net Assets Or Fund Balances - Other Decreases Unrealized Loss- Interest Rate Swap Contract = -$295385 Form 990, Part I In 2013, Lyric Opera of Chicago changed its fiscal year end from April 30 to June 30. Throughout the Form 990, any "Prior Year" information is for the two month period May 1, 2013 - June 30, 2013 only. Form 990, Part V, Line 1a- Form 1096 Lyric Opera provides administrative services and maintains the books and records of the Ryan Opera Center. All vendors, including independent contractors, for both Lyric Opera and the Ryan Opera Center are paid through Lyric Opera of Chicago. Form 990, Part VI, Line 15a The process of determining compensation of the organization's General Director included the following:The General Director was hired in April 2011 with a 5 year contract, through June 30, 2016. The Compensation Committee of the Board of Directors is charged under their Charter with the responsibility to review and establish objectives relevant to the General Director's compensation, evaluate the General Director's performance in light of those objectives, and recommend to the Executive Committee the General Director's compensation level based on this evaluation.