Lyric Stage Company Of Boston Inc.

Lyric Stage Company Of Boston Inc. General Information 140 Clarendon Street Boston, MA 02116 (617) 585-5675 Website lyricstage.com Organization Contact Matt Chapuran matt_chapuran@lyricstage.com Year of Incorporation 1974 1

Statements & Search Criteria Mission Statement The mission of the Lyric Stage Company of Boston is to bring an intimate approach to world-class theatre with productions that challenge, entertain, and inspire its audiences; showcase Bostonbased theatrical artists; and represent the diverse tastes and backgrounds of 21st century Boston. Background Statement At the time of his 1997 appointment as Producing Artistic Director, Spiro Veloudos cited as a systemic issue the high number of actors cast from New York City with only a handful of roles available to local talent. He immediately sought to address that issue by casting almost exclusively from Boston s talent pool. In the subsequent 18 seasons, a number of other local companies have arisen to share in this commitment, with the Lyric Stage sparking the development of an unofficial repertory company of actors shared by multiple resident theatre companies in Boston. The Lyric Stage further enhanced its local leadership by playing an instrumental role in the creation of NEAT New England Area Theatres, a bargaining collective of a dozen small and midsize theatre companies who share a regional contract with Actors Equity Association, the professional actors union headquartered in New York City. Now entering its 21 st year, NEAT provides emerging fringe cooperatives with a concrete blueprint for transitioning to professional theatres and guarantees a framework for existing Equity companies to chart their growth. With his early productions of ASSASSINS (1998) and SUNDAY IN THE PARK WITH GEORGE (2001), Veloudos proved that midsize theatre companies had the capacity to stage large musicals and take advantage of Boston s otherwise neglected wealth of musical talent. As with local casting, Veloudos created a framework and inspired other local companies to introduce more musical theatre to their repertories, leading in turn to larger audiences and greater resources. 2

Impact Statement In the course of its history, the Lyric Stage has collected a substantial number of awards, including 31 Eliot Norton Awards given by the Boston Theatre Critics Association and 63 IRNE Awards given by the Independent Reviewers of New England. It continues to receive local accolades and national attention from publications such as the WALL STREET JOURNAL and the SONDHEIM REVIEW. The Lyric Stage s recently announced SONDHEIM INITIATIVE is an advancement of Veloudos s interest in America s greatest living composer and a further investment in Boston s capacity for staging ambitious musicals. In addition to a stated intention of producing Sondheim musicals such as SONDHEIM ON SONDHEIM (2015-2016 Season), COMPANY (announced for the 2016-2017 Season), MERRIILY WE ROLL ALONG, PACIFIC OVERTURES, and PASSION (for subsequent seasons), and a revisiting of SUNDAY IN THE PARK WITH GEORGE at a larger venue, the Sondheim Initiative includes a range of educational programming, including incorporating Sondheim into the existing Lyric First Stage program, the creation of a New England College Sondheim Competition, and the establishment of the annual Boston Sondheim Award. As casting Boston-area actors was a pressing need in 1997, Veloudos now prioritizes the hiring of Boston-area non-white actors. His inclusive casting practice means that if the ethnicity of a character is not explicitly stated by the playwright or required by the dramatic needs of the story, Veloudos and Associate Artistic Director A. Nora Long seek to create an acting company representative of Boston s current status as a so-called minority majority city. Recent productions of INTO THE WOODS, SWEENEY TODD, MY FAIR LADY, and the upcoming MR. BURNS cast African-American, Asian-American, and Hispanic-American actors in roles originally created by white actors. Veloudos and Long also routinely select plays written by playwrights of color including this season's productions of Katori Hall s SATURDAY NIGHT/SUNDAY MORNING, and Carla Ching s FAST COMPANY. Long is also a local champion for gender equity. This season, the Lyric Stage offers as many roles for women as for men, and productions demonstrate gender parity backstage. This season, four directors out of six are women and the recent production of SATURDAY NIGHT/SUNDAY MORNING received the designation of Standing O, a designation awarded by StageSource, a local thearical artist and producer support organization, for productions that demonstrate gender parity on stage and backstage. 3

Needs Statement While the Lyric Stage's inclusive casting practices have resulted in an increase in opportunities for non-white actors, and have been recognized both by the theatrical community and local media, the Staff and Board have been collaborating on a comprehensive strategy to meaningfully extend its work beyond its home neighborhoods of the Back Bay and the South End. Through strategic partnerships with community-based organizations, including the Museum of African American History, the Boston Asian American Film Festival, the Boston Chinatown Neighborhood Center, and Discover Roxbury, which predominately serve the Lyric Stage's expansion neighborhoods, and with thoughtful programming designed to meet the needs of new constituents, the Lyric Stage creates opportunities for dialogue that transcend perceived socioeconomic or ethnic barriers. Recently, the Lyric Stage has sponsored a film from the Boston Asian American Film Festival, followed by a screening of the sponsored film in its own theatre; hosted the Boston Chinatown Neighborhood Center for a fundraising performance of Saturday Night/Sunday Morning by African American playwright Katori Hall; hosted numerous panel conversations for Associated Grant Makers; provided below-market rental rates to Little Brothers Friends for the Elderly and Upstage Lung Cancer; and served as the venue for a new play reading event by the Jewish Arts Collaborative. Upcoming collaborations include working with the African American Museum of History on joint summer programming; and co-producing a reading of William Inge's play PICNIC with an all African-American cast with brand new classic, an emerging fringe theatre company. CEO/Executive Director Statement Board Chair Statement Successes and Challenges: Financial: The Lyric Stage has had a long history of financial stability funded largely by ticket sales. This speaks well for our popularity with our subscribers and the theater company s ability to manage resources. However, until very recently, contributed revenue has not been a focus of sustained energy. The last two years have seen significant growth but as a percentage of our overall budget, our contributed revenue has remained at a low level compared to other arts organizations. The challenge going forward is to increase the amount of contributed revenue. This would help to decrease the financial restraints on our artistic endeavors. And it would allow us to reach out to the Boston community with offers of affordable tickets. Board Management: Our Board has been instrumental in working with the staff over the past few years, helping the company through some staff transitions, and helping to negotiate a new lease for our space. The challenge going forward is to increase the size of the Board and move toward more efficient working committees, making the Board a more useful adjunct to the paid staff. Diversity goals: The Lyric Stage Company has begun to reflect the diversity of 21 st Century Boston onstage, both through inclusive casting, and through choice of plays that tell stories of all types. The challenge going forward is to begin to reflect the city s diversity in the make-up of our Board and our staff. This will help to ensure that the theater is seen as a theatrical home for all the citizens of Boston. Live theater is an important part of the artistic life of any city, and Boston is fortunate to have a thriving theater community. The Lyric Stage Company of Boston is my personal favorite for several reasons: the choice of plays each season provides me with diverse options including musicals and straight plays, dramas and comedies, classic and cutting edge plays. The theatrical space itself is intimate and inviting, making the experience of attending a performance a very personal one. And the staff is always welcoming to audience members. It is a pleasure to be associated with such a warm and talented group of artists and staff. Service Categories Theater Geographic Areas Served 4

In the 2015-2016 Season, LYRIC FIRST CURTAIN has piloted rewarding experiences for middle school students at McKinley South End Academy, a Boston Public School that serves a unique population of students with diagnosed emotional challenges to learning; and for students between the ages of 14 and 20 at the Dudley Square branch of the Boston Public Library. McKinley students have learned the basic principles of story theatre, and applied that learning to the textual source material for the Lyric Stage's upcoming professional production of PETER AND THE STARCATCHER. Working with classroom teachers, the Lyric Stage seeks to create positive associations with learning and the classroom environment while also providing direct reinforcement of the McKinley faculty's academic objectives. Dudley Square students have learned how to select and prepare an audition monologue, with embedded college and career preparedness activities such as resume writing and creation of a digital brand. Please review online profile for full list of selected areas served. 5

Programs Mainstage subscription season Description The Lyric Stage produces a seven-show subscription season for an annual audience of 35,000 and operating with a $2,000,000 budget. Budget 840636 Category Arts, Culture & Humanities, General/Other Population Served Adults,, Program Short Term Success The Lyric Stage examines audience response surveys and overall attendance trends. Program Long term Success Program Success Monitored By Successful season selections range from large musicals, new plays, classic revivals, and productions which expand equity and opportunity for women and artists of color. Periodic monitoring is done by the Lyric Stage's artistic team. Examples of Program Success Over its 42-year history, the Lyric Stage has earned a substantial number of awards, including 31 Eliot Norton Awards given by the Boston Theatre Critics Association and 63 IRNE Awards given by the Independent Reviewers of New England. It has received national attention from publications such as the WALL STREET JOURNAL and the SONDHEIM REVIEW. 6

Management CEO/Executive Director Executive Director Mr. Spiro Veloudos Term Start Apr 1997 Email spiro_veloudos@lyricstage.com Co-CEO Co-CEO Matt Chapuran Term Start Oct 2014 Email matt_chapuran@lyricstage.com Staff Information Full Time Staff Part Time Staff Volunteers Contractors 8 15 300 125 Staff Demographics - Ethnicity African American/Black 23 Asian American/Pacific Islander 8 Caucasian 389 Hispanic/Latino 6 Native American/American Indian 0 Other 0 Staff Demographics - Gender Male Female Unspecified 4 4 0 Formal Evaluations CEO Formal Evaluation CEO/Executive Formal Evaluation Frequency Senior Management Formal Evaluation Senior Management Formal Evaluation Frequency Yes Annually Yes Annually 7

NonManagement Formal Evaluation Non Management Formal Evaluation Frequency Yes Annually Plans & Policies Organization has a Fundraising Plan? Organization has a Strategic Plan? Does your organization have a Business Continuity of Operations Plan? Organization Policy and Procedures Nondiscrimination Policy Whistleblower Policy Under Development Under Development Yes Under Development Under Development No 8

Board & Governance Board Chair Board Chair Ms. Jo-An Heileman Company Affiliation WGBH Public Radio and Television (retired) Term July 2016 to June 2019 Email j.heileman@verizon.net Board Members Name Affiliation Status Nina Berk Freelance Designer Voting Barry Bluestone Northeastern University Voting Julian Cherubini Alimed (retired) Voting Richard Daynard Northeastern University Voting Mary K Eliot Development Consultant Voting Glenda Fishman Huntington Theatre Company Voting Jo-An Heileman WGBH Public Radio and Television (retired) Voting Christopher Hill Venture Capital Voting Tim Holiner Massachusetts Institute of Technology (retired) Voting Paul Kastner Talbots (retired) Voting Sharon Parisi Braintree Public Schools Voting Joseph Richard State Street Bank Voting M. Robert Rose Brookline Bank Voting Ron Sudol Oakland University (retired) Voting Steven Wasser Powell Flutes Voting Christopher Yens South End Realty Voting Board Demographics - Ethnicity African American/Black 0 Asian American/Pacific Islander 1 Caucasian 18 Hispanic/Latino 0 Native American/American Indian 0 Other 0 Board Demographics - Gender Male Female 14 5 9

Unspecified 0 Board Information Number of Full Board Meetings Annually Board Meeting Attendance % Written Board Selection Criteria? Written Conflict of Interest Policy? Percentage Making Monetary Contributions Constituency Includes Client Representation 7 80% Under Development Under Development 100% Yes Standing Committees Strategic Planning / Strategic Direction Nominating Executive 10

Financials Fiscal Year Fiscal Year Start July 01, 2017 Fiscal Year End June 30, 2018 Projected Revenue $2,216,012.00 Projected Expenses $2,166,342.00 Endowment? No Credit Line? No Reserve Fund? Yes Months Reserve Fund Covers 1.2 Detailed Financials Revenue and Expenses Total Revenue $2,046,200 $2,034,500 $1,904,100 Total Expenses $2,069,400 $1,960,200 $1,964,600 Revenue Sources Foundation and Corporation -- -- -- Contributions Government Contributions $38,700 $16,000 $15,800 Federal -- -- -- State -- -- -- Local -- -- -- Unspecified $38,700 $16,000 $15,800 Individual Contributions $490,600 $539,100 $342,300 Indirect Public Support $0 -- -- Earned Revenue $1,514,900 $1,476,300 $1,543,900 Investment Income, Net of Losses $2,000 $3,100 $2,100 Membership Dues $0 -- -- Special Events $0 -- -- Revenue In-Kind -- -- -- Other $0 -- -- 11

Expense Allocation Program Expense $1,354,600 $1,265,200 $1,295,500 Administration Expense $601,100 $584,100 $585,100 Fundraising Expense $113,700 $110,900 $84,000 Payments to Affiliates -- -- -- Total Revenue/Total Expenses 0.99 1.04 0.97 Program Expense/Total Expenses 65% 65% 66% Fundraising Expense/Contributed Revenue 21% 20% 23% Assets and Liabilities Total Assets $1,067,800 $1,127,000 $920,300 Current Assets $917,600 $1,029,300 $797,400 Long-Term Liabilities $0 $0 $0 Current Liabilities $606,500 $642,500 $510,100 Total Net Assets $461,300 $484,500 $410,200 Short Term Solvency Current Ratio: Current Assets/Current Liabilities 1.51 1.60 1.56 Long Term Solvency Long-Term Liabilities/Total Assets 0% 0% 0% Top Funding Sources Top Funding Source & Dollar Amount -- -- -- Second Highest Funding Source & Dollar -- -- -- Amount Third Highest Funding Source & Dollar Amount -- -- -- Capital Campaign Currently in a Capital Campaign? No Comments CEO Comments In 2016 and 2017, the Lyric Stage came to the end of multi-year funding commitments from the Barr Foundation, the Klarman Family Foundation, and Bloomberg Philanthropies. These funding programs invested a total of $700,000 into the Lyric Stage over six years. The foundations provided training programs for staff and board members around issues of capitalization, fundraising, board development, and succession planning. Over the total lifespan of the two programs, the Lyric Stage saw its net operating assets grow from $336,000 at the end of the 2010-2011 Fiscal Year, to a current level of $524,245. Revenue from ticket sales and philanthropy respectively rose from approximately $1,125,000 and $150,000 in FY11 to approximately $1,442,000 and $512,000 in FY17. 12

These resources are directly responsible for opening Clarendon Hall. Additionally, production budgets have increased by over $200,000; increasing artist compensation continues to be a focus area, particularly as the Lyric Stage has recently signed agreements with the Boston Musicians Association and the Society for Designers and Choreographers. The additional revenue has been invested in developing the Lyric Stage s full-time staff, which grew from seven to nine over this period. By contrast, administrative spending has grown by an average of 2% over the last six years. As a result, the Lyric Stage currently has a very strong balance sheet, with over $500,000 in liquid assets and no long-term debt. In strategic planning, budgeting, and fundraising, the conversations increasingly turn from deficits and obstacles to opportunities for investment and growth. Foundation Staff Comments Financial summary data in charts and graphs are per the organization's IRS Form 990s. Contributions from foundations and corporations are listed under individuals when the breakout was not available. Created 01.07.2018. Copyright 2018 The Boston Foundation 13