The Lyric Opera of Kansas City, Inc. is a not-for-profit corporation incorporated in the state of Missouri in 1958. There are two related organizations which were formed to benefit the Lyric Opera. The Lyric Opera of Kansas City Foundation was incorporated in 2000 and is a not-for-profit public benefit corporation. The goal of the Foundation is to fund artistic advancement and enhance the quality of the Lyric’s productions through its management of a permanent endowment. The Lyric Opera QALICB was formed in June 2011 for the exclusive benefit of the Lyric Opera. The QALICB’s purpose is to hold title to property and lease said property to the Lyric Opera.
Each organization prepares its own standalone quarterly financial statements and annual 990 tax return of organization exempt from income tax. Annually each organization is audited and the consolidated financial statements of the Lyric Opera include the balances for all three organizations.