Civic Intelligence

Turtle Creek Chorale Inc.

990 • Fiscal year 2018 • EIN 75-1783322

Aug 01, 2017 to Jul 31, 2018 • Filed on Apr 05, 2019

3630 Harry Hines BlvdDallas, TX 75219

(214) 526-3214

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.54x

Higher debt load relative to assets than 82% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

73rd percentile

0.34x

Higher debt load relative to revenue than 73% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

20th percentile

-11%

Higher net margin than 20% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

54th percentile

$72,478

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 9.2% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

78th percentile

15%

Faster asset growth than 78% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

46th percentile

2.2%

Faster revenue growth than 46% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Up

$501,702

Up $67,306 (+15%) from 2017

Net Assets

Down

$232,185

Down $74,601 (-24%) from 2017

Liabilities

Up

$269,517

Up $141,907 (+111%) from 2017

Revenue

Up

$785,852

Up $16,543 (+2.2%) from 2017

Expenses

Up

$870,153

Up $48,809 (+5.9%) from 2017

Net Income

Down

-$84,301

Down $32,266 (-62%) from 2017

Historical Trend

Balance Sheet Trend

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

$1.0M$500K$0Assets 2010: $514,753Liabilities 2010: $144,344Net Assets 2010: $370,4092010Assets 2011: $582,976Liabilities 2011: $143,991Net Assets 2011: $438,9852011Assets 2012: $535,719Liabilities 2012: $186,084Net Assets 2012: $349,6352012Assets 2013: $543,907Liabilities 2013: $146,742Net Assets 2013: $397,1652013Assets 2014: $431,568Liabilities 2014: $106,249Net Assets 2014: $325,3192014Assets 2015: $582,783Liabilities 2015: $102,095Net Assets 2015: $480,6882015Assets 2016: $465,451Liabilities 2016: $116,780Net Assets 2016: $348,6712016Assets 2017: $434,396Liabilities 2017: $127,610Net Assets 2017: $306,7862017Assets 2018: $501,702Liabilities 2018: $269,517Net Assets 2018: $232,1852018Assets 2019: $503,034Liabilities 2019: $251,719Net Assets 2019: $251,3152019Assets 2020: $826,780Liabilities 2020: $421,152Net Assets 2020: $405,6282020Assets 2021: $915,499Liabilities 2021: $230,466Net Assets 2021: $685,0332021Assets 2022: $794,508Liabilities 2022: $405,272Net Assets 2022: $389,2362022Assets 2023: $691,981Liabilities 2023: $459,544Net Assets 2023: $232,4372023Assets 2024: $785,477Liabilities 2024: $280,942Net Assets 2024: $504,5352024

Highlighted filing

2018

Assets$501,702
Liabilities$269,517
Net Assets$232,185

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2010: $789,9992010Expenses 2011: $790,8682011Expenses 2012: $788,3952012Revenue 2013: $880,047Expenses 2013: $855,969Net Income 2013: $24,0782013Revenue 2014: $749,941Expenses 2014: $819,675Net Income 2014: -$69,7342014Revenue 2015: $829,200Expenses 2015: $657,528Net Income 2015: $171,6722015Revenue 2016: $640,613Expenses 2016: $721,175Net Income 2016: -$80,5622016Revenue 2017: $769,309Expenses 2017: $821,344Net Income 2017: -$52,0352017Revenue 2018: $785,852Expenses 2018: $870,153Net Income 2018: -$84,3012018Revenue 2019: $797,291Expenses 2019: $805,769Net Income 2019: -$8,4782019Revenue 2020: $783,641Expenses 2020: $738,509Net Income 2020: $45,1322020Revenue 2021: $715,212Expenses 2021: $632,307Net Income 2021: $82,9052021Revenue 2022: $1,421,140Expenses 2022: $1,611,679Net Income 2022: -$190,5392022Revenue 2023: $1,031,290Expenses 2023: $1,314,543Net Income 2023: -$283,2532023Revenue 2024: $1,331,467Expenses 2024: $1,197,517Net Income 2024: $133,9502024

Highlighted filing

2018

Revenue$785,852
Expenses$870,153
Net Income-$84,301
Jump To
Filing Snapshot
Filing Period
Aug 1, 2017 to Jul 31, 2018
Signed
Apr 5, 2019
Return Version
2017v2.2
Gross Receipts
$1,653,036
Mission and Program Overview

Mission

The Turtle Creek Chorale seeks to move hearts, minds and souls with the power of choral singing. We do so with public performances, education programming and community involvement. There are three pillars of our mission: Empower to unite people through music by identifying and building bridges, promoting dialogue between the LGBT community and others and bringing communities, families and individuals together. Educate to advance male choral music within the community through educational outreach and programming, to commission existing and emerging composers, to expand choral literature and to provide music and social education programs. Entertain to present diverse and exciting programming, visually intriguing performance, unique and compelling stories and innovative themes.THE MISSION OF Turtle Creek Chorale IS TO ENTERTAIN, EDUCATE, UNITE AND INSPIRE.

The mission of the turtle creek chorale is to entertain, educate, unite and inspire.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$413,260$445,087▲ $31,827
Cash and Non-Interest-Bearing Accounts$10,599$45,622▲ $35,023
Land, Buildings, and Equipment, Net$8,037$5,992▼ $2,045
Savings and Temporary Cash Investments$2,500$5,001▲ $2,501
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$434,396$501,702▲ $67,306
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$50,565$205,833▲ $155,268
Accounts Payable and Accrued Expenses$50,073$41,923▼ $8,150
Deferred Revenue$26,972$21,761▼ $5,211
Total Liabilities$127,610$269,517▲ $141,907
Net Assets / Fund Balance
Permanently Rstr Net Assets$133,000$133,000→ $0
Unrestricted Net Assets$173,786$93,041▼ $80,745
Temporarily Rstr Net Assets-$6,144-
Total Net Assets Fund Balance$306,786$232,185▼ $74,601
Total Liabilities and Net Assets / Fund Balance$434,396$501,702▲ $67,306

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$5,992$8,316$14,308
Equipment-$12,147$12,147

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$133,000-▲ $13,771-$139,144
2016$133,000-▲ $13,215$12,172$133,000
2015$344,810-▲ $3,984$215,794$133,000
2014$391,351-▲ $17,449$63,990$344,810
2013$408,229-▲ $33,724$45,546$391,351
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Bruce W Jaster-thru 72018Executive DirectorFT$70,250$2,228$72,478

Board Members and Trustees

NameTitle
John RiegerChairman
Daniel KuhnDirector
Isai Thomas-cazaresDirector
Jamie RawsonDirector
Ken HowardDirector
Kent PiacentiDirector
Larry SingletonDirector
Mack CampbellDirector
Paul RumseyDirector
Roger PoindexterDirector
Taylor CleghornDirector
Jeremy Wayne-from 112018managing Director
Chris CampbellPres - Mmbrship
Grant MyersSecretary
Bryan DanielTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$456,807
Program Service Revenue
$244,627
Investment Income
$36,386
Other Revenue
$48,032
All Other Contributions
$318,392
Change in Net Assets
$-84,301

Audited Revenue Reconciliation

Revenue per Audited Statements
$803,699
Revenue Not Reported on Financial Statements
$-17,847
Revenue Not Reported on Form 990
$9,700
Other Revenue Adjustments
$-21,118
Total Revenue per Audited Statements
$813,399
Total Revenue per Form 990
$785,852
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$472,388
Salaries, Compensation, and Employee Benefits$397,765
Total Fundraising Expense$154,717
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$143,773$48,746$112,394$304,913
Fees for Services Other$134,916$2,077$666$137,659
Occupancy$72,096$9,603-$81,699
Advertising$44,653$3,578-$48,231
Travel$43,347$4,346-$47,693
Current Officers, Directors, Trustees, and Key Employees$14,286$19,048$14,286$47,620
Payroll Taxes$14,259$6,020$11,407$31,686
Fees for Services Accounting-$19,096-$19,096
All Other Expenses$7,048$5,110$750$12,908
Other Expenses$4,401$3,059$4,290$11,750
Other Employee Benefits$5,425$1,568$4,182$11,175
Office Expenses$3,308$3,210$3,210$9,728
Insurance$4,907$2,209$2,077$9,193
Interest-$6,200-$6,200
Fees for Service Investment Mgmnt Fees-$3,271-$3,271
Pension Plan Contributions$1,251$193$927$2,371
Fees for Services Legal-$2,241-$2,241
Depreciation Depletion-$2,044-$2,044
Information Technology-$1,987-$1,987
Total Functional Expenses$566,580$148,856$154,717$870,153

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$888,000
Total Expenses per Audited Statements$888,000
Total Expenses per Form 990$870,153
Expenses Not Reported on Financial Statements$-17,847
Other Expense Adjustments$-21,118
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$21,118
Fundraising Gross Income$8,990
Gaming Gross Income$5,050
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
After Dark$25,122$8,990$2,888$6,102
Total Events$25,122$8,990$21,118$-12,128
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
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$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
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

THERE ARE THREE CLASSES OF VOTING MEMBERSHIPS:Performing Membership-Chorale-This class of membership shall consist of the performing members of the Turtle Creek Chorale, who have been invited to join after a formal audition process. Performing members shall be subject to policies and rules formulated by the Board, their elected leadership and the relevant professional staff, if such exists. Members shall elect their own officers through a policy that is determined by performing membership; these officers shall serve as the Member Leadership Team.BOARD OF DIRECTORS-This class of membership shall consist of those persons elected by the membership to hold a position as member of the Board of Directors of the Corporation.NON-PERFORMING MEMBERSHIP-This class of membership shall consist of those persons other than the classes above, whose membership is attained through written application and approval by the Board of Directors. Non-performing members shall have the same privileges as performing members, but shall be exempt from membership dues.Persons may be voting members of more than one category simultaneously, but in no case shall any individual be granted more than one vote on a single issue or item.There is one class of non-voting memberships which consist of the following:LIFE MEMBERSHIP-This class of membership shall consist of those persons who have displayed special or continuing interest and support of the Corporation. A performing, non-performing, or board member of the Corporation may nominate a person for Life Membership. Said nominated person will be elected by the members of the Corporation by a majority vote to hold a Life Membership in the Corporation. Life members do not have voting rights unless they are otherwise eligible to vote.Any voting member in good standing shall be entitled to one vote on each matter submitted to a vote of the Corporation. A member in good standing for the purposes of voting rights, holding elected office, or other positions of responsibility, in which being in good standing is a prerequisite, is a member who has met all the obligations specified by policy as the minimum requirements and expectations of that class of membership in which the member participates.

Form 990, Part VI, Line 7A: How Members or Shareholders Elect Governing Body

The board of directors are elected by the voting membership.

Form 990, Part VI, Line 7B: Describe Decisions of Governing Body Approval by Members or Shareholders

Election of board members and officers of the corporation are ratified by the members at the annual membership meeting, or called special meeting.

Form 990, Part VI, Line 11B: Form 990 Review Process

The treasurer of the board reviews the 990 prior to filing.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

For key employees, there is a general policy. The conflict of interest policy is a part of the board members confidentiality and job description agreements. Both are monitored by the board chair and the executive director.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The executive committee of the board is provided with an annual salary disclosure report from gala choruses. Gala choruses is a non-profit association of 150 choruses across the united states. It compares employees salaries based on budget and membership size. This report is used to determine executive salaries.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

The executive committee of the board is provided with an annual salary disclosure report from gala choruses. Gala choruses is a non-profit association of 150 choruses across the united states. It compares employees salaries based on budget and membership size. This report is used to determine executive salaries.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

The governing documents are maintained at the organization's administrative office and are available for review upon request.

Form 990, Part VIII Income From Fundraising Events

The net economic benefit from our annual fundraising event is calculated as follows:Contributions from fundraising event reported on Part VIII, line 1c $ 16,132Gross income from fundraising event reported on Part VIII, line 8a 8,990Gross income from gaming activities reported on Part VIII, line 9a 5,050Less: Direct costs of event reported on part VIII, Line 8b (21,118) Net economic benefit of fundraising event $ 9,054

Filing and Contact Details

Filer

Filer Name
Turtle Creek Chorale Inc
EIN
75-1783322
Phone
2145263214
Address
3630 HARRY HINES BLVD, DALLAS, TX 75219

Signing Officer

Name
Bryan Daniel
Title
Treasurer
Signed
2019-04-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeremy Wayne
Formed
1980
Legal Domicile
TX
Voting Board Members
14
Independent Board Members
14
Employees
11
Volunteers
250

Preparer

Firm
Sutton Frost Cary LLP
Address
600 Six Flags Dr Suite 600, Arlington, TX 76011
Preparer
Amy Michie
Phone
8176498083
Supplemental Narrative

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

The general purpose of the endowment fund is for general operating support. Earnings from the endowment can and are paid out annually so long as annual earnings exceed 5% of principal, but the principal can also be paid out with a supermajority vote of the board of directors and the endowment trustees.

Part X : FIN48 Footnote

The Chorale is exempt from federal income taxes under section 501(c)(3) of the Internal Revenue Code (IRC) and has not been classified as a private foundation as defined in the IRC. Income generated from activities unrelated to the Chorales exempt purposes is subject to tax under IRC Section 511. The Chorale did not have significant unrelated business income for the year ended July 31, 2018. Accordingly, no provision has been made for federal income tax.GAAP requires the evaluation of tax positions taken in the course of preparing the Chorales tax return and recognition of a tax liability (or asset) if the Chorale has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. Management has analyzed the tax positions taken by the Chorale, and has concluded that as of July 31, 2018, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements.

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IRS990/MissionDesc0The Turtle Creek Chorale seeks to move hearts, minds and souls with the power of choral singing. We do so with public performances, education programming and community involvement. There are three pillars of our mission: Empower to unite people through music by identifying and building bridges, promoting dialogue between the LGBT community and others and bringing communities, families and individuals together. Educate to advance male choral music within the community through educational outreach and programming, to commission existing and emerging composers, to expand choral literature and to provide music and social education programs. Entertain to present diverse and exciting programming, visually intriguing performance, unique and compelling stories and innovative themes.THE MISSION OF Turtle Creek Chorale IS TO ENTERTAIN, EDUCATE, UNITE AND INSPIRE.
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.79$0.28$0.50$1.33$1.20$0.13
2023Detailed filing. Detailed filing data is available for this year.$0.69$0.46$0.23$1.03$1.31$0.28
2022Detailed filing. Detailed filing data is available for this year.$0.79$0.41$0.39$1.42$1.61$0.19
2021Detailed filing. Detailed filing data is available for this year.$0.92$0.23$0.69$0.72$0.63$0.08
2020Detailed filing. Detailed filing data is available for this year.$0.83$0.42$0.41$0.78$0.74$0.05
2019Detailed filing. Detailed filing data is available for this year.$0.50$0.25$0.25$0.80$0.81$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.50$0.27$0.23$0.79$0.87$0.08
2017Detailed filing. Detailed filing data is available for this year.$0.43$0.13$0.31$0.77$0.82$0.05
2016Detailed filing. Detailed filing data is available for this year.$0.47$0.12$0.35$0.64$0.72$0.08
2015Detailed filing. Detailed filing data is available for this year.$0.58$0.10$0.48$0.83$0.66$0.17
2014Detailed filing. Detailed filing data is available for this year.$0.43$0.11$0.33$0.75$0.82$0.07
2013Summary only. Only limited summary data is available for this year.$0.54$0.15$0.40$0.88$0.86$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.54$0.19$0.35$0.79
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.58$0.14$0.44$0.79
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.51$0.14$0.37$0.79