Lyric Opera ending season in the black

[May 25, 2010]  CHICAGO (AP) -- Spokesmen for Lyric Opera of Chicago report that Lyric will again be ending its season in the black financially -- a rarity among major American opera companies.

Lyric issued a statement Monday night saying it sold 86 percent of its seating capacity for the 2009/10 season and surpassed its $16.6 million fundraising goal. As a result, the opera company will report a break-even operating performance for the year.

To balance the budget, Lyric will use about $2.7 million in reserve funds from its Campaign for Excellence Fund, which was established in 2005.

Lyric has operated in the black for 22 of the past 23 years.

[Associated Press]

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