The Lyric Theatre is a non-for-profit 501 (c) 3 organization overseen by The Lyric Council Board of Directors. The Lyric Council was first formed in 1995 with the goal of restoring the theatre. Since reopening in 1998 the Lyric Theatre has become a community resource for the New River Valley.
The Mission of the Lyric Council is to enhance community participation in arts and culture by:
maintaining and preserving the Lyric Theatre;
partnering with community arts groups, through the Lyric Theatre and the Community Arts and Information Office, to provide a diversity of films, live programs, arts information, and gallery opportunities and exhibitions to the community;
establishing and promoting Blacksburg, Virginia as an arts destination for the region.