Civic Intelligence

Edison Arts Foundation Inc.

990 • Fiscal year 2023 • EIN 46-3452623

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 15, 2024

Organization ProfileWWW.EDISONARTSFOUNDATION.ORG
1959 Texas ParkwayMissouri City, TX 77489

(713) 459-4929

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

78th percentile

0.55x

Higher debt load relative to assets than 78% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

95th percentile

5.98x

Higher debt load relative to revenue than 95% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

85th percentile

34%

Higher net margin than 85% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

55th percentile

7.6%

Faster asset growth than 55% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

2nd percentile

-74%

Faster revenue growth than 2% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets78th percentile

Assets

Flat

$10,478,943

Flat from 2023

Net Assets

Flat

$4,736,920

Flat from 2023

Liabilities

Flat

$5,742,023

Flat from 2023

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin85th percentile

Revenue

Flat

$960,736

Flat from 2023

Expenses

Flat

$633,945

Flat from 2023

Net Income

Flat

$326,791

Flat from 2023

Historical Trend

Balance Sheet Trend

Asset Growth55th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0Assets 2016: $4,558Liabilities 2016: $0Net Assets 2016: $4,5582016Assets 2017: $5,058Liabilities 2017: $5,058Net Assets 2017: $02017Assets 2018: $1,560Liabilities 2018: $02018Assets 2019: $208,122Liabilities 2019: $0Net Assets 2019: $208,1222019Assets 2020: $5,767,728Liabilities 2020: $5,324,005Net Assets 2020: $443,7232020Assets 2021: $6,642,290Liabilities 2021: $5,325,766Net Assets 2021: $1,316,5242021Assets 2022: $9,735,968Liabilities 2022: $5,325,766Net Assets 2022: $4,410,2022022Assets 2023: $10,478,943Liabilities 2023: $5,742,023Net Assets 2023: $4,736,9202023Assets 2023: $10,478,943Liabilities 2023: $5,742,023Net Assets 2023: $4,736,9202023Assets 2024: $14,137,300Liabilities 2024: $8,528,112Net Assets 2024: $5,609,1882024

Highlighted filing

2023

Assets$10,478,943
Liabilities$5,742,023
Net Assets$4,736,920
Open 2023 Filing

Operations Trend

Revenue Growth2nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2016: $126,460Expenses 2016: $137,001Net Income 2016: -$10,5412016Revenue 2017: $132,229Expenses 2017: $147,213Net Income 2017: -$14,9842017Revenue 2018: $48,099Expenses 2018: $46,539Net Income 2018: $1,5602018Revenue 2019: $273,556Expenses 2019: $66,994Net Income 2019: $206,5622019Revenue 2020: $80,823Expenses 2020: $45,222Net Income 2020: $35,6012020Revenue 2021: $1,316,346Expenses 2021: $443,140Net Income 2021: $873,2062021Revenue 2022: $3,760,797Expenses 2022: $667,051Net Income 2022: $3,093,7462022Revenue 2023: $960,736Expenses 2023: $633,945Net Income 2023: $326,7912023Revenue 2023: $960,736Expenses 2023: $633,945Net Income 2023: $326,7912023Revenue 2024: $1,622,491Expenses 2024: $750,223Net Income 2024: $872,2682024

Highlighted filing

2023

Revenue$960,736
Expenses$633,945
Net Income$326,791
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 15, 2024
Return Version
2023v5.0
Gross Receipts
$960,736
Mission and Program Overview

Mission

The edison arts foundation is a non-profit fine-arts organization established for the educational

The edison arts foundation is a 501(c)(3) non-profit fine arts organization, established for the educational and charitable purpose of producing and developing cultural and performing arts programs for children, adults, and families throughout the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,412,503$4,256,414▲ $843,911
Cash and Non-Interest-Bearing Accounts$2,996,079$3,063,716▲ $67,637
Other Notes and Loans Receivable, Net$3,327,860$3,030,494▼ $297,366
Loans From Officers Directors$325,766$325,557▼ $209
Total Assets$9,735,968$10,478,943▲ $742,975
Other Assets Total$-474$128,319▲ $128,793
Liabilities
Grants Payable$5,000,000$5,000,000→ $0
Unsecured Notes Loans Payable-$416,466-
Total Liabilities$5,325,766$5,742,023▲ $416,257
Net Assets / Fund Balance
Net Assets With Donor Restrictions$3,632,465$4,482,465▲ $850,000
Net Assets Without Donor Restrictions$777,737$254,455▼ $523,282
Total Net Assets Fund Balance$4,410,202$4,736,920▲ $326,718
Total Liabilities and Net Assets / Fund Balance$9,735,968$10,478,943▲ $742,975

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$2,346,504-$2,346,504
Buildings$1,903,878-$1,903,878
Other Land Buildings$6,032$26,349$32,381
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
Robertha CarterOfficer
Angel PattonSecretary
Lillian AnthonyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$880,300
Program Service Revenue
$59,694
Investment Income
$20,742
Other Revenue
$0
All Other Contributions
$880,300
Change in Net Assets
$326,791
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$633,227
Grants and Similar Amounts Paid$718
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$256,525$10,001-$266,526
Occupancy$50,406--$50,406
All Other Expenses$49,473--$49,473
Depreciation Depletion$26,349--$26,349
Other Expenses$19,460--$19,460
Advertising$19,246--$19,246
Fees for Services Accounting$6,704$6,704-$13,408
Insurance$12,259--$12,259
Office Expenses$9,645--$9,645
Information Technology$5,341--$5,341
Interest$4,260--$4,260
Travel$1,158--$1,158
Grants to Domestic Orgs$718--$718
Total Functional Expenses$617,240$16,705$0$633,945
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$325,766$325,557▼ $209
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“990 review by the governing board a copy of the 990 wiil be presented to the board members for review prior to filing. The members will respond affirming their agreement or raising any questions or concerns with the proposed filing. If concerns are raised, they will be addressed at the next board meeting where all appropriate changes will be agreed upon. All agreed changes shall be made and presented to the board members for final review prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“Conflict of interest compliance board members and key members are required to review the conflict of interest policy annually. The conflict of interest policy requires any known or potential conflicts of interest to be disclosed to the board.”

Form 990, Page 6, Part VI, Line 19

“Disclosure governing documents, conflict of interest policy, and financial statements are available upon request during normal business hours.”

Filing and Contact Details

Filer

Filer Name
Edison Arts Foundation Inc
EIN
46-3452623
Phone
7134594929
Address
1959 TEXAS PARKWAY, MISSOURI CITY, TX 77489

Signing Officer

Name
Robertha Carter
Title
Officer
Phone
0713459492
Signed
2024-11-15

Organization Details

Principal Officer
Robertha Carter
Formed
2013
Legal Domicile
TX
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
25

Preparer

Firm
Cys Business Solutions LLC
Address
PO BOX 17897, SUGAR LAND, TX 77496
Preparer
Samuel Sze
Phone
7138181938
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The edison arts foundation is a 501(c)(3) non-profit fine arts organization, established for the educational and charitable purpose of producing and developing cultural and performing arts programs for children, adults, and families throughout the community.”

Form 990, Page 2, Part III, Line 4D

“The edison arts foundation is a 501(c)(3) non-profit fine arts organization, established for the educational and charitable purpose of producing and developing cultural and performing arts programs for children, adults, and families throughout the community.”

Form 990, Part IX, Line 11G

“Contract labor 166,520 0 0 professional fees 90,005 10,001 0 total 256,525 10,001 0”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE EDISON ARTS FOUNDATION IS A 501(C)(3) NON-PROFIT FINE ARTS ORGANIZATION, ESTABLISHED FOR THE EDUCATIONAL AND CHARITABLE PURPOSE OF PRODUCING AND DEVELOPING CULTURAL AND PERFORMING ARTS PROGRAMS FOR CHILDREN, ADULTS, AND FAMILIES THROUGHOUT THE COMMUNITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE EDISON ARTS FOUNDATION IS A 501(C)(3) NON-PROFIT FINE ARTS ORGANIZATION, ESTABLISHED FOR THE EDUCATIONAL AND CHARITABLE PURPOSE OF PRODUCING AND DEVELOPING CULTURAL AND PERFORMING ARTS PROGRAMS FOR CHILDREN, ADULTS, AND FAMILIES THROUGHOUT THE COMMUNITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2990 REVIEW BY THE GOVERNING BOARD A COPY OF THE 990 WIIL BE PRESENTED TO THE BOARD MEMBERS FOR REVIEW PRIOR TO FILING. THE MEMBERS WILL RESPOND AFFIRMING THEIR AGREEMENT OR RAISING ANY QUESTIONS OR CONCERNS WITH THE PROPOSED FILING. IF CONCERNS ARE RAISED, THEY WILL BE ADDRESSED AT THE NEXT BOARD MEETING WHERE ALL APPROPRIATE CHANGES WILL BE AGREED UPON. ALL AGREED CHANGES SHALL BE MADE AND PRESENTED TO THE BOARD MEMBERS FOR FINAL REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONFLICT OF INTEREST COMPLIANCE BOARD MEMBERS AND KEY MEMBERS ARE REQUIRED TO REVIEW THE CONFLICT OF INTEREST POLICY ANNUALLY. THE CONFLICT OF INTEREST POLICY REQUIRES ANY KNOWN OR POTENTIAL CONFLICTS OF INTEREST TO BE DISCLOSED TO THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DISCLOSURE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST DURING NORMAL BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CONTRACT LABOR 166,520 0 0 PROFESSIONAL FEES 90,005 10,001 0 TOTAL 256,525 10,001 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
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ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-15
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ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SAMUEL SZE
ReturnHeader/ReturnTs02024-11-15T11:59:12-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,478,943
Liabilities
$5,742,023
Net assets
$4,736,920
Revenue
$960,736
Expenses
$633,945
Net income
$326,791
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.1$8.53$5.61$1.62$0.75$0.87
2023Detailed filing. Detailed filing data is available for this year.$10.5$5.74$4.74$0.96$0.63$0.33
2023Summary only. Only limited summary data is available for this year.$10.5$5.74$4.74$0.96$0.63$0.33
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.74$5.33$4.41$3.76$0.67$3.09
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.64$5.33$1.32$1.32$0.44$0.87
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.77$5.32$0.44$0.08$0.05$0.04
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.21$0.00$0.21$0.27$0.07$0.21
2018Summary only. Only limited summary data is available for this year.$0.00$0.00$0.05$0.05$0.00
2017Summary only. Only limited summary data is available for this year.$0.01$0.01$0.00$0.13$0.15$0.01
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$0.13$0.14$0.01