Civic Intelligence

Galveston Island Promotions Co

EIN 47-5114763 • 501(c)3 • Galveston, TX

Pub. 78 Eligible990-N Coverage

Profile

Galveston island promotions conducts various events to the general public and provides funding for charitable organizations throughout galveston county. Funds come from sponsorships and donations by the general public. 80% of the organization's time is spent conducting the events and the remaining 20% is used to organize meetings of the board and administrating the organization.

2614 Beluche DrGalveston, TX 77551

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

95th percentile

1.41x

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

501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

94th percentile

0.86x

Higher debt load relative to revenue than 94% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

6th percentile

-211%

Higher net margin than 6% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

81st percentile

$0

Higher top officer pay than 81% of similar nonprofits.

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

501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

14th percentile

-77%

Faster asset growth than 14% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

10th percentile

-79%

Faster revenue growth than 10% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$6,183

Down $20,422 (-77%) from 2017

Liabilities

Up

$8,705

Up $1,000 (+13%) from 2017

Net Assets

Down

-$2,522

Down $21,422 (-113%) from 2017

Operations
Liabilities / Revenue94th percentileNet Margin6th percentile

Revenue

Down

$10,169

Down $37,719 (-79%) from 2017

Expenses

Up

$31,591

Up $682 (+2.2%) from 2017

Net Income

Down

-$21,422

Down $38,401 (-226%) from 2017

Trend Graphs

Balance Sheet Trend

Asset Growth14th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$30K$20K$10K$0-$10KAssets 2016: $8,121Liabilities 2016: $6,200Net Assets 2016: $1,9212016Assets 2017: $26,605Liabilities 2017: $7,705Net Assets 2017: $18,9002017Assets 2018: $6,183Liabilities 2018: $8,705Net Assets 2018: -$2,5222018

Highlighted filing

2018

Assets$6,183
Liabilities$8,705
Net Assets-$2,522
Open 2018 Filing

Operations Trend

Revenue Growth10th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$60K$40K$20K$0-$20K-$40KRevenue 2016: $37,305Expenses 2016: $34,008Net Income 2016: $3,2972016Revenue 2017: $47,888Expenses 2017: $30,909Net Income 2017: $16,9792017Revenue 2018: $10,169Expenses 2018: $31,591Net Income 2018: -$21,4222018

Highlighted filing

2018

Revenue$10,169
Expenses$31,591
Net Income-$21,422
Open 2018 Filing

Filings

Most recent year

2018 • Form 990EZDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,183
Liabilities
$8,705
Net assets
-$2,522
Revenue
$10,169
Expenses
$31,591
Net income
-$21,422
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2018Detailed filing. Detailed filing data is available for this year.$6.18$8.71$2.52$10.2$31.6$21.4
2017Detailed filing. Detailed filing data is available for this year.$26.6$7.71$18.9$47.9$30.9$17.0
2016Detailed filing. Detailed filing data is available for this year.$8.12$6.20$1.92$37.3$34.0$3.30
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 15, 2019
Return Version
2018v3.1
Gross Receipts
$38,050
Mission and Program Overview

Mission

Galveston island promotions conducts various events to the general public and provides funding for charitable organizations throughout galveston county. Funds come from sponsorships and donations by the general public. 80% of the organization's time is spent conducting the events and the remaining 20% is used to organize meetings of the board and administrating the organization.

Program Services

DescriptionGrantsExpenses
WE HELD LOCAL EVENTS FROM WHICH WE DERIVED FUNDS TO ASSIST COMMUNITY CHARITIES AND PROVIDED A POSITIVE ECONOMIC IMPACT TO THE AREA.$31,591-
Compensation and Service Providers
Top Officer Pay81st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
RICHARD GARZAChairman-$0--
ELIZABETH MATTHEWSSecretary-$0--
Fundraising, Events, and Gaming

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Special Events$37,950$37,950$16,747$21,203
Total Events$37,950$37,950$27,881$10,069
Filing and Contact Details

Filer

Filer Name
Galveston Island Promotions Co
EIN
47-5114763
Phone
4097892288
Address
2614 BELUCHE DR, GALVESTON, TX 77551

Signing Officer

Name
Richard Garza
Title
Chairman
Signed
2019-11-15
Discuss with paid preparer
Yes

Preparer

Firm
Katherine Overbeck Maxwell CPA Pllc
Address
2200 MARKET ST STE 703, GALVESTON, TX 77550-1532
Preparer
Katherine O Maxwell
Phone
4097655287
Supplemental Narrative

Additional Explanations

Other Expenses.1002

“Office Expenses $1858”

Other Expenses.1009

“Depreciation $95”

Other Expenses.1012

“Insurance $2529”

Other Expenses.1

“BAD DEBT $12180”

Other Expenses.2

“Web and online content $10170”

Other Expenses.3

“Credit card processing fee $807”

Other Expenses.4

“MISC. $522”

Other Expenses.6

“BANK CHARGES $5”

Other Assets.1003

“Machinery and Equipment - Beginning $339 Machinery and Equipment - Ending $244”

Other Assets.1005

“Accounts Receivable - Beginning $18260 Accounts Receivable - Ending $3778”

Total Liabilities.1001

“Accounts Payable and Accrued Expenses - Beginning $2205 Accounts Payable and Accrued Expenses - Ending $2205”

Total Liabilities.1003

“Deferred Revenue - Beginning $5500 Deferred Revenue - Ending $6500”

Raw XML Appendix167 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990EZ/BooksInCareOfDetail/USAddress/CityNm0GALVESTON
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IRS990EZ/BooksInCareOfDetail/USAddress/ZIPCd077551
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IRS990EZ/InfoInScheduleOPartIIInd0X
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IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt1Secretary
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IRS990EZ/PrimaryExemptPurposeTxt0GALVESTON ISLAND PROMOTIONS CONDUCTS VARIOUS EVENTS TO THE GENERAL PUBLIC AND PROVIDES FUNDING FOR CHARITABLE ORGANIZATIONS THROUGHOUT GALVESTON COUNTY. FUNDS COME FROM SPONSORSHIPS AND DONATIONS BY THE GENERAL PUBLIC. 80% OF THE ORGANIZATION'S TIME IS SPENT CONDUCTING THE EVENTS AND THE REMAINING 20% IS USED TO ORGANIZE MEETINGS OF THE BOARD AND ADMINISTRATING THE ORGANIZATION.
IRS990EZ/PrintingPublicationsPostageAmt0425
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IRS990EZ/ProgramSrvcAccomplishmentGrp/GrantsAndAllocationsAmt031591
IRS990EZ/ProhibitedTaxShelterTransInd0false
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IRS990EZ/SpecialEventsNetIncomeLossAmt010069
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IRS990EZ/TotalExpensesAmt031591
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IRS990EZ/TotalRevenueAmt010169
IRS990EZ/TransactionWithControlEntInd0false
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IRS990EZ/TypeOfOrganizationCorpInd0X
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IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0100
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt06235
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt06335
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IRS990ScheduleA/PublicOrganization170Ind0X
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IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt0355
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IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt037950
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IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent1Amt09777
IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt09777
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Office Expenses $1858
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Depreciation $95
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Insurance $2529
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BAD DEBT $12180
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4WEB AND ONLINE CONTENT $10170
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CREDIT CARD PROCESSING FEE $807
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6MISC. $522
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7BANK CHARGES $5
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Machinery and Equipment - Beginning $339 Machinery and Equipment - Ending $244
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Accounts Receivable - Beginning $18260 Accounts Receivable - Ending $3778
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10Accounts Payable and Accrued Expenses - Beginning $2205 Accounts Payable and Accrued Expenses - Ending $2205
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11Deferred Revenue - Beginning $5500 Deferred Revenue - Ending $6500
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Other Expenses.1002
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Other Expenses.1009
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Other Expenses.4
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Other Assets.1005
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10Total Liabilities.1001
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc11Total Liabilities.1003
ReturnHeader/BuildTS02020-03-31 21:24:44Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0RICHARD GARZA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chairman
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GALVESTON ISLAND PROMOTIONS CO
ReturnHeader/Filer/BusinessNameControlTxt0GALV
ReturnHeader/Filer/EIN0475114763
ReturnHeader/Filer/PhoneNum04097892288
ReturnHeader/Filer/USAddress/AddressLine1Txt02614 BELUCHE DR
ReturnHeader/Filer/USAddress/CityNm0GALVESTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd077551
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0274317860
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KATHERINE OVERBECK MAXWELL CPA PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02200 MARKET ST STE 703
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GALVESTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0775501532
ReturnHeader/PreparerPersonGrp/PhoneNum04097655287
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Katherine O Maxwell
ReturnHeader/ReturnTs02019-11-15T13:10:17-08:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

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