Civic Intelligence

Texas Cultural Trust Council

990 • Fiscal year 2017 • EIN 74-2778878

Sep 01, 2016 to Aug 31, 2017 • Filed on Mar 23, 2018

823 Congress AvenueAustin, TX 78701

(512) 478-5289

Siviq Scores

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

Liabilities / Assets

37th percentile

0.04x

Higher debt load relative to assets than 37% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

52nd percentile

0.11x

Higher debt load relative to revenue than 52% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

7th percentile

-45%

Higher net margin than 7% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

12th percentile

-9.2%

Faster asset growth than 12% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

7th percentile

-36%

Faster revenue growth than 7% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Down

$4,668,839

Down $475,623 (-9.2%) from 2016

Net Assets

Down

$4,505,052

Down $325,269 (-6.7%) from 2016

Liabilities

Down

$163,787

Down $150,354 (-48%) from 2016

Revenue

Down

$1,544,229

Down $852,837 (-36%) from 2016

Expenses

Up

$2,233,098

Up $17,236 (+0.8%) from 2016

Net Income

Down

-$688,869

Down $870,073 (-480%) from 2016

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0Assets 2011: $3,437,160Liabilities 2011: $29,496Net Assets 2011: $3,407,6642011Assets 2012: $3,606,907Liabilities 2012: $189,400Net Assets 2012: $3,417,5072012Assets 2013: $4,228,828Liabilities 2013: $204,117Net Assets 2013: $4,024,7112013Assets 2014: $4,925,916Liabilities 2014: $794,364Net Assets 2014: $4,131,5522014Assets 2015: $4,850,405Liabilities 2015: $372,103Net Assets 2015: $4,478,3022015Assets 2016: $5,144,462Liabilities 2016: $314,141Net Assets 2016: $4,830,3212016Assets 2017: $4,668,839Liabilities 2017: $163,787Net Assets 2017: $4,505,0522017Assets 2018: $5,086,773Liabilities 2018: $762,795Net Assets 2018: $4,323,9782018Assets 2019: $5,593,716Liabilities 2019: $432,151Net Assets 2019: $5,161,5652019Assets 2020: $6,515,534Liabilities 2020: $424,981Net Assets 2020: $6,090,5532020Assets 2021: $7,555,293Liabilities 2021: $806,272Net Assets 2021: $6,749,0212021Assets 2022: $6,702,014Liabilities 2022: $943,368Net Assets 2022: $5,758,6462022Assets 2023: $7,195,357Liabilities 2023: $461,745Net Assets 2023: $6,733,6122023Assets 2024: $8,199,614Liabilities 2024: $886,993Net Assets 2024: $7,312,6212024Assets 2025: $9,062,828Liabilities 2025: $430,704Net Assets 2025: $8,632,1242025

Highlighted filing

2017

Assets$4,668,839
Liabilities$163,787
Net Assets$4,505,052

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $615,422Expenses 2011: $1,115,320Net Income 2011: -$499,8982011Revenue 2012: $1,136,100Expenses 2012: $1,170,569Net Income 2012: -$34,4692012Revenue 2013: $1,552,705Expenses 2013: $1,184,367Net Income 2013: $368,3382013Revenue 2014: $1,694,150Expenses 2014: $1,587,309Net Income 2014: $106,8412014Revenue 2015: $1,904,343Expenses 2015: $1,752,232Net Income 2015: $152,1112015Revenue 2016: $2,397,066Expenses 2016: $2,215,862Net Income 2016: $181,2042016Revenue 2017: $1,544,229Expenses 2017: $2,233,098Net Income 2017: -$688,8692017Revenue 2018: $1,417,423Expenses 2018: $1,747,269Net Income 2018: -$329,8462018Revenue 2019: $2,510,463Expenses 2019: $1,717,823Net Income 2019: $792,6402019Revenue 2020: $1,911,395Expenses 2020: $1,654,746Net Income 2020: $256,6492020Revenue 2021: $1,732,438Expenses 2021: $2,043,547Net Income 2021: -$311,1092021Revenue 2022: $1,761,025Expenses 2022: $1,761,893Net Income 2022: -$8682022Revenue 2023: $2,674,877Expenses 2023: $2,020,684Net Income 2023: $654,1932023Revenue 2024: $1,988,575Expenses 2024: $2,144,356Net Income 2024: -$155,7812024Revenue 2025: $3,090,328Expenses 2025: $2,043,984Net Income 2025: $1,046,3442025

Highlighted filing

2017

Revenue$1,544,229
Expenses$2,233,098
Net Income-$688,869
Jump To
Filing Snapshot
Filing Period
Sep 1, 2016 to Aug 31, 2017
Signed
Mar 23, 2018
Return Version
2016v3.0
Gross Receipts
$2,869,287
Mission and Program Overview

Mission

PUBLIC ARTS FUNDING

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,611,738$4,021,262▲ $409,524
Accounts Receivable$266,141$505,403▲ $239,262
Pledges and Grants Receivable$388,600--
Savings and Temporary Cash Investments$723,055$38,566▼ $684,489
Prepaid Expenses and Deferred Charges$153,126$34,850▼ $118,276
Cash and Non-Interest-Bearing Accounts$-2,002$33,881▲ $35,883
Receivables From Officers Etc-$25,000-
Land, Buildings, and Equipment, Net$3,804$9,877▲ $6,073
Total Assets$5,144,462$4,668,839▼ $475,623
Liabilities
Deferred Revenue$264,900$108,563▼ $156,337
Accounts Payable and Accrued Expenses$49,241$55,224▲ $5,983
Total Liabilities$314,141$163,787▼ $150,354
Net Assets / Fund Balance
Permanently Rstr Net Assets$2,297,365$2,297,365→ $0
Temporarily Rstr Net Assets$1,887,176$1,837,571▼ $49,605
Unrestricted Net Assets$645,780$370,116▼ $275,664
Total Net Assets Fund Balance$4,830,321$4,505,052▼ $325,269
Total Liabilities and Net Assets / Fund Balance$5,144,462$4,668,839▼ $475,623

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$9,877$7,363$17,240

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$3,278,273-▲ $436,911$27,386$3,687,798
2015$3,129,739$100,000▲ $226,190$177,656$3,278,273
2014$2,965,245-▲ $164,494-$3,129,739
2013$2,530,821-▲ $434,424-$2,965,245
2012$2,632,691-▲ $232,366$334,236$2,530,821
Compensation and Service Providers

Employees

NameTitleBaseOtherTotal
Jennifer Ranson Rice-$149,612$8,000$157,612

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Sarver Strategies LLCConsultingPO BOX 160725, Austin, TX 78716$432,729
Resources For LearningProfessional Services7035 BEE CAVES, Austin, TX 78746$291,492
Revenue and Support

Revenue Composition

Contributions and Grants
$903,790
Program Service Revenue
$145,535
Investment Income
$74,939
Other Revenue
$419,965
All Other Contributions
$522,569
Change in Net Assets
$-688,869

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,544,229
Revenue Not Reported on Form 990
$1,688,658
Total Revenue per Audited Statements
$3,232,887
Total Revenue per Form 990
$1,544,229
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,565,407
Salaries, Compensation, and Employee Benefits$477,517
Grants and Similar Amounts Paid$190,174
Total Fundraising Expense$60,264
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$226,112$18,404$18,404$262,920
Grants to Domestic Orgs$190,174--$190,174
Current Officers, Directors, Trustees, and Key Employees$135,546$11,033$11,033$157,612
Advertising$120,761$10,655$10,655$142,071
Office Expenses$81,348$7,178$7,178$95,704
Occupancy$78,018$6,884$6,884$91,786
Fees for Services Accounting$2,608$29,987$0$32,595
Payroll Taxes$24,954$2,031$2,031$29,016
Other Employee Benefits$20,511$1,810$1,810$24,131
Fees for Services Other$1,584$18,210$0$19,794
Conferences and Meetings$12,614$780$780$14,174
Fees for Services Legal$902$10,371$0$11,273
Travel$7,870$694$694$9,258
Depreciation Depletion$3,636$321$321$4,278
Pension Plan Contributions$3,300$269$269$3,838
Other Expenses$3,278$0$0$3,278
Insurance$2,329$206$205$2,740
Total Functional Expenses$2,054,001$118,833$60,264$2,233,098

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,558,156
Expenses per Audited Statements$2,233,098
Total Expenses per Form 990$2,233,098
Expenses Not Reported on Form 990$1,325,058
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Texas Commission on the ArtsAustin, TX-Art Programs$190,174
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$1,734,684
Fundraising Direct Expenses$1,325,058
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Texas Medal of the Arts$1,734,684$1,734,684$1,325,058$409,626
Total Events$1,734,684$1,734,684$1,325,058$409,626
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees-$25,000-
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Texas Cultural Trust Council
EIN
74-2778878
Phone
5124785289
Address
823 CONGRESS AVENUE, AUSTIN, TX 78701

Signing Officer

Name
Heidi M Smith
Title
Executive Director
Phone
5124785289
Signed
2018-03-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Heidi M Smith
Formed
1995
Legal Domicile
TX
Voting Board Members
40
Independent Board Members
40
Employees
21
Volunteers
40

Preparer

Firm
Allman & Associates Inc
Address
9600 Great Hills Trail Suite 150W, Austin, TX 78759
Preparer
Peter L Allman CPA
Phone
5125023077
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

Form 990 will be reviewed by the organization's governing body

Pt VI, Line 15A

The process for determining compensation for the executive director includes a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision.

Pt VI, Line 19

The organization does not make its documents available to the public.

Financial Statement Notes

Pt V, Line 4

The texas cultural endowment fund's purpose is to support the arts and the programs of the texas commission on the arts.

Pt XI, Line 2D

Fundraiser - texas medal of arts expenses

Pt XII, Line 2D

Fundraiser - texas medal of arts expenses

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IRS990/Desc0PROVIDE DEVELOPMENTAL SERVICES AND SOLICIT CONTRIBUTIONS FROM CORPORATIONS, FOUNDATIONS, AND THE PUBLIC IN ORDER TO INCREASE AWARENESS AND SUPPORT FOR THE ARTS IN TEXAS, IMPROVE THE QUALITY OF PUBLIC EDUCATION AND STIMULATE ECONOMIC GROWTH, AND TO RAISE FUNDS FOR THE TEXAS COMMISSION OF THE ARTS.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.06$0.43$8.63$3.09$2.04$1.05
2024Detailed filing. Detailed filing data is available for this year.$8.20$0.89$7.31$1.99$2.14$0.16
2023Detailed filing. Detailed filing data is available for this year.$7.20$0.46$6.73$2.67$2.02$0.65
2022Detailed filing. Detailed filing data is available for this year.$6.70$0.94$5.76$1.76$1.76$0.00
2021Detailed filing. Detailed filing data is available for this year.$7.56$0.81$6.75$1.73$2.04$0.31
2020Detailed filing. Detailed filing data is available for this year.$6.52$0.42$6.09$1.91$1.65$0.26
2019Detailed filing. Detailed filing data is available for this year.$5.59$0.43$5.16$2.51$1.72$0.79
2018Summary only. Only limited summary data is available for this year.$5.09$0.76$4.32$1.42$1.75$0.33
2017Detailed filing. Detailed filing data is available for this year.$4.67$0.16$4.51$1.54$2.23$0.69
2016Detailed filing. Detailed filing data is available for this year.$5.14$0.31$4.83$2.40$2.22$0.18
2015Detailed filing. Detailed filing data is available for this year.$4.85$0.37$4.48$1.90$1.75$0.15
2014Summary only. Only limited summary data is available for this year.$4.93$0.79$4.13$1.69$1.59$0.11
2013Summary only. Only limited summary data is available for this year.$4.23$0.20$4.02$1.55$1.18$0.37
2012Summary only. Only limited summary data is available for this year.$3.61$0.19$3.42$1.14$1.17$0.03
2011Summary only. Only limited summary data is available for this year.$3.44$0.03$3.41$0.62$1.12$0.50