Civic Intelligence

Hippodrome Foundation Inc.

990 • Fiscal year 2014 • EIN 52-1054299

Jul 01, 2013 to Jun 30, 2014 • Filed on Feb 17, 2015

Organization ProfileWWW.HIPPODROMEFOUNDATION.ORG

View Organization Page

416 West BaltimoreSuite21201

(410) 727-7787

Siviq Scores

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

Liabilities / Assets

62nd percentile

0.22x

Higher debt load relative to assets than 62% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

72nd percentile

0.36x

Higher debt load relative to revenue than 72% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

48th percentile

2.0%

Higher net margin than 48% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

84th percentile

$152,302

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 9.0% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

61st percentile

5.7%

Faster asset growth than 61% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

29th percentile

-3.9%

Faster revenue growth than 29% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets62nd percentile

Assets

Up

$2,716,166

Up $145,309 (+5.7%) from 2013

Net Assets

Up

$2,111,850

Up $143,403 (+7.3%) from 2013

Liabilities

Up

$604,316

Up $1,906 (+0.3%) from 2013

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin48th percentile

Revenue

Down

$1,693,977

Down $69,585 (-3.9%) from 2013

Expenses

Down

$1,660,423

Down $31,587 (-1.9%) from 2013

Net Income

Down

$33,554

Down $37,998 (-53%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth61st percentile

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

$30M$20M$10M$0Assets 2011: $2,116,044Liabilities 2011: $527,410Net Assets 2011: $1,588,6342011Assets 2012: $2,496,247Liabilities 2012: $650,392Net Assets 2012: $1,845,8552012Assets 2013: $2,570,857Liabilities 2013: $602,410Net Assets 2013: $1,968,4472013Assets 2014: $2,716,166Liabilities 2014: $604,316Net Assets 2014: $2,111,8502014Assets 2015: $2,907,234Liabilities 2015: $810,646Net Assets 2015: $2,096,5882015Assets 2016: $2,497,261Liabilities 2016: $617,702Net Assets 2016: $1,879,5592016Assets 2017: $2,488,821Liabilities 2017: $488,897Net Assets 2017: $1,999,9242017Assets 2018: $2,715,401Liabilities 2018: $556,798Net Assets 2018: $2,158,6032018Assets 2019: $7,004,608Liabilities 2019: $796,030Net Assets 2019: $6,208,5782019Assets 2020: $6,844,598Liabilities 2020: $505,418Net Assets 2020: $6,339,1802020Assets 2021: $7,525,481Liabilities 2021: $427,382Net Assets 2021: $7,098,0992021Assets 2022: $13,272,762Liabilities 2022: $670,301Net Assets 2022: $12,602,4612022Assets 2023: $23,785,651Liabilities 2023: $1,291,838Net Assets 2023: $22,493,8132023Assets 2024: $23,588,375Liabilities 2024: $408,446Net Assets 2024: $23,179,9292024

Highlighted filing

2014

Assets$2,716,166
Liabilities$604,316
Net Assets$2,111,850
Open 2014 Filing

Operations Trend

Revenue Growth29th percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2011: $975,612Expenses 2011: $1,113,443Net Income 2011: -$137,8312011Revenue 2012: $1,703,124Expenses 2012: $1,627,564Net Income 2012: $75,5602012Revenue 2013: $1,763,562Expenses 2013: $1,692,010Net Income 2013: $71,5522013Revenue 2014: $1,693,977Expenses 2014: $1,660,423Net Income 2014: $33,5542014Revenue 2015: $2,000,489Expenses 2015: $1,885,884Net Income 2015: $114,6052015Revenue 2016: $1,925,970Expenses 2016: $1,985,982Net Income 2016: -$60,0122016Revenue 2017: $2,100,069Expenses 2017: $2,023,145Net Income 2017: $76,9242017Revenue 2018: $2,340,442Expenses 2018: $2,243,843Net Income 2018: $96,5992018Revenue 2019: $6,309,542Expenses 2019: $2,248,600Net Income 2019: $4,060,9422019Revenue 2020: $2,276,744Expenses 2020: $2,197,793Net Income 2020: $78,9512020Revenue 2021: $1,967,499Expenses 2021: $1,629,327Net Income 2021: $338,1722021Revenue 2022: $8,345,176Expenses 2022: $2,180,401Net Income 2022: $6,164,7752022Revenue 2023: $12,259,696Expenses 2023: $2,552,105Net Income 2023: $9,707,5912023Revenue 2024: $3,791,978Expenses 2024: $3,336,067Net Income 2024: $455,9112024

Highlighted filing

2014

Revenue$1,693,977
Expenses$1,660,423
Net Income$33,554
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Feb 17, 2015
Return Version
2013v4.0
Gross Receipts
$2,907,804
Mission and Program Overview

Mission

In addition to presenting the broadway series, the mission of hippodrome foundation, inc. Is to increase access to the hippodrome and all of its assets through free outreach and education programs for the community, especially students.

In addition to presenting the Broadway series, the mission is to increase access to the hippodrome and its assets through free outreach and education programs for the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,833,524$2,021,642▲ $188,118
Accounts Receivable$220,035$98,358▼ $121,677
Prepaid Expenses and Deferred Charges$40,978$54,201▲ $13,223
Cash and Non-Interest-Bearing Accounts$1,366$48,357▲ $46,991
Land, Buildings, and Equipment, Net$19,812$16,416▼ $3,396
Investments Program Related$7,095$7,095→ $0
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$2,570,857$2,716,166▲ $145,309
Other Assets Total$448,047$470,097▲ $22,050
Liabilities
Mortgage Notes Payable Secured by Investment Property$387,500$375,000▼ $12,500
Accounts Payable and Accrued Expenses$214,910$223,316▲ $8,406
Deferred Revenue$0$6,000▲ $6,000
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$602,410$604,316▲ $1,906
Net Assets / Fund Balance
Unrestricted Net Assets$1,499,410$1,641,753▲ $142,343
Temporarily Rstr Net Assets$469,037$470,097▲ $1,060
Permanently Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$1,968,447$2,111,850▲ $143,403
Total Liabilities and Net Assets / Fund Balance$2,570,857$2,716,166▲ $145,309

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,584$21,526$28,110
Leasehold Improvements$9,832$5,900$15,732
Other Land Buildings-$0$0
Other Assets Org$470,097--
Compensation and Service Providers
Top Officer Pay84th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Arthur F Bell JrMemberPT$118,742$33,560$152,302
Olive WaxterExecutive DirectorFT$118,742-$118,742

Board Members and Trustees

NameTitle
Walter D Pinkard JrChairman
Charles J NabitMember
Charles a BerardescoMember
Donald C FryMember
Donald HickenMember
Dr Elijah SaudersMember
J Michael RileyMember
Jay a PermanMember
Jonathan M GennMember
Kurt L SchmokeMember
Michael E CryorMember
Michele L WhelleyMember
Robert G Merrick IiiMember
Whit StewartMember
Herbert D Frerichs JrTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$461,069
Program Service Revenue
$1,181,658
Investment Income
$234,324
Other Revenue
$-183,074
All Other Contributions
$124,016
Change in Net Assets
$33,554

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,693,977
Revenue Not Reported on Form 990
$479,699
Total Revenue per Audited Statements
$2,173,676
Total Revenue per Form 990
$1,693,977
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,302,069
Salaries, Compensation, and Employee Benefits$358,354
Total Fundraising Expense$57,744
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$352,932$11,400-$364,332
Other Salaries and Wages$122,974$15,372$15,372$153,718
Current Officers, Directors, Trustees, and Key Employees$92,785$6,186$24,743$123,714
Insurance$52,219$33,257-$85,476
Other Expenses$42,744--$42,744
Other Employee Benefits$27,953$1,864$7,454$37,271
All Other Expenses$17,902$13,433-$31,335
Payroll Taxes$18,412$1,227$4,910$24,549
Fees for Services Accounting$11,718$8,037-$19,755
Pension Plan Contributions$15,282$1,910$1,910$19,102
Office Expenses$8,389$5,034$3,355$16,778
Advertising$4,026--$4,026
Depreciation Depletion-$3,396-$3,396
Conferences and Meetings-$372-$372
Total Functional Expenses$1,501,191$101,488$57,744$1,660,423

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,030,273
Expenses per Audited Statements$1,660,423
Total Expenses per Form 990$1,660,423
Expenses Not Reported on Form 990$369,850
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$302,100
Fundraising Gross Income$96,835
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$140,146$96,835$210,839$-114,004
Total Events$140,146$96,835$302,100$-205,265
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Review of Form 990 - Part VI, Section B, Line 11

“When the 990 is final and before it is submitted, it is distributed via email to the Board of Directors.”

Governance, Management & Disclosure - Part VI, Section B, Line 12C

“Directors of the organization must make full disclosure to the board any personal or business interest conflicts that may exist between themselves and the corporation. Any concerns about any conflict of interest would be discussed by the executive committee. If a conflict of interest does arise, directors should abstain from discussing or voting on the particular issue.”

Governance, Management & Disclosure - Part VI Section C Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Governance, Management & Disclosure - Part VI, Section A, Line 2

“Walter d. Pinkard and robert g. Merrick iii are cousins.”

Filing and Contact Details

Filer

EIN
52-1054299
In Care Of
% OLIVE WAXTER
Phone
4107277787

Signing Officer

Name
OLIVE Waxter
Title
Officer
Phone
4107277787
Signed
2015-02-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Olive Waxter
Formed
1976
Legal Domicile
Md
Voting Board Members
16
Independent Board Members
16
Employees
4
Volunteers
600

Preparer

Preparer
Philip H Cornblatt CPA
Phone
4107277787
Supplemental Narrative

Additional Explanations

Governance, Management & Disclosure - Part XII, Line 2C

“The budget and finance committee authorize the selection of the auditor and the selection of an independent accountant. The organization's director oversees the process to ensure all is completed in a timely fashion. Questions that arise during the audit are directed to the committee and a draft of the audit is reviewed by the budget and finance committee prior to board-wide distribution.”

Financial Statement Notes

Part X, Line 2

“The Foundation is a not-for-profit organization that is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. The exemption is on all income except unrelated business income as noted under Section 511 of the Internal Revenue Code. The Foundation did not have any unrelated business income for the years ending June 30, 2014 and 2013. Accordingly, no provision for income taxes has been included in the accompanying consolidated financial statements. Income tax returns filed by the Foundation are subject to examination by the Internal Revenue Service for a period of three years. While no income tax returns are currently being examined by the Internal Revenue Service, tax years for 2011, 2012 and 2013 remain open. The BCPAH was established as a for-profit corporation subject to corporate taxation. The BCPAH had no taxable income during the years ended June 30, 2014 and 2013 and had a net operating loss carry forward of $3,478,538 at June 30, 2014 and $3,088,933 at June 30, 2013. This net operating loss expires in years through 2029. Due to the uncertainty as to the eventual usage of this loss, a valuation allowance for the full amount of the deferred tax asset estimated to be $1,182,783 and $1,050,237 has been recorded for the years ended June 30, 2014 and 2013, respectively.”

Part XII & Part XIII - Other Reconciling Items

“Special event expenses deducted - 302,100”

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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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IRS990/MissionDesc0IN ADDITION TO PRESENTING THE BROADWAY SERIES, THE MISSION OF HIPPODROME FOUNDATION, INC. IS TO INCREASE ACCESS TO THE HIPPODROME AND ALL OF ITS ASSETS THROUGH FREE OUTREACH AND EDUCATION PROGRAMS FOR THE COMMUNITY, ESPECIALLY STUDENTS.
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IRS990/OtherExpensesGrp/ProgramServicesAmt120000
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IRS990/OtherExpensesGrp/TotalAmt120000
IRS990/OtherExpensesGrp/TotalAmt213287
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IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
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IRS990/PayrollTaxesGrp/TotalAmt024549
IRS990/PensionPlanContributionsGrp/FundraisingAmt01910
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IRS990/PensionPlanContributionsGrp/ProgramServicesAmt015282
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IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt054201
IRS990/PrincipalOfficerNm0OLIVE WAXTER
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IRS990/ProgramServiceRevenueGrp/Desc0THEATRE SUB-LEASE
IRS990/ProgramServiceRevenueGrp/Desc1PRESENTATION FEES
IRS990/ProgramServiceRevenueGrp/Desc2TICKET SALES/USHER REIMBURSEMENTS
IRS990/ProgramServiceRevenueGrp/Desc3UTILITY REIMBURSEMENT
IRS990/ProgramServiceRevenueGrp/Desc4HIPPODROME ARTS FUND
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt128069
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt296311
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt296311
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3662316
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt442030
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0197869
IRS990/PYExcessBenefitTransInd0false
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IRS990/PYInvestmentIncomeAmt0157026
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
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IRS990/PYSalariesCompEmpBnftPaidAmt0351099
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IRS990/ReportLandBuildingEquipmentInd0true
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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,716,166
Liabilities
$604,316
Net assets
$2,111,850
Revenue
$1,693,977
Expenses
$1,660,423
Net income
$33,554
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$23.6$0.41$23.2$3.79$3.34$0.46
2023Detailed filing. Detailed filing data is available for this year.$23.8$1.29$22.5$12.3$2.55$9.71
2022Detailed filing. Detailed filing data is available for this year.$13.3$0.67$12.6$8.35$2.18$6.16
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.53$0.43$7.10$1.97$1.63$0.34
2020Detailed filing. Detailed filing data is available for this year.$6.84$0.51$6.34$2.28$2.20$0.08
2019Detailed filing. Detailed filing data is available for this year.$7.00$0.80$6.21$6.31$2.25$4.06
2018Detailed filing. Detailed filing data is available for this year.$2.72$0.56$2.16$2.34$2.24$0.10
2017Detailed filing. Detailed filing data is available for this year.$2.49$0.49$2.00$2.10$2.02$0.08
2016Summary only. Only limited summary data is available for this year.$2.50$0.62$1.88$1.93$1.99$0.06
2015Summary only. Only limited summary data is available for this year.$2.91$0.81$2.10$2.00$1.89$0.11
2014Detailed filing. Detailed filing data is available for this year.$2.72$0.60$2.11$1.69$1.66$0.03
2013Summary only. Only limited summary data is available for this year.$2.57$0.60$1.97$1.76$1.69$0.07
2012Summary only. Only limited summary data is available for this year.$2.50$0.65$1.85$1.70$1.63$0.08
2011Summary only. Only limited summary data is available for this year.$2.12$0.53$1.59$0.98$1.11$0.14