Civic Intelligence

Abilene Philharmonic Foundation

990 • Fiscal year 2024 • EIN 75-2281734

Jun 01, 2023 to May 31, 2024 • Filed on Nov 11, 2024

Organization Profilewww.abilenephilharmonic.org
1102 N 3rd StreetAbilene, TX 79601

(325) 677-6710

Siviq Scores

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

Liabilities / Assets

18th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

18th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

95th percentile

75%

Higher net margin than 95% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

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

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

77th percentile

19%

Faster asset growth than 77% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

78th percentile

38%

Faster revenue growth than 78% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets18th percentile

Assets

Up

$4,691,639

Up $746,603 (+19%) from 2023

Net Assets

Up

$4,691,639

Up $746,603 (+19%) from 2023

Liabilities

Flat

$0

Flat from 2023

Revenue And Expenses
Liabilities / Revenue18th percentileNet Margin95th percentile

Revenue

Up

$497,415

Up $137,209 (+38%) from 2023

Expenses

Down

$125,151

Down $25,728 (-17%) from 2023

Net Income

Up

$372,264

Up $162,937 (+78%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth77th percentile

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

$6.0M$4.0M$2.0M$0Assets 2012: $1,540,176Liabilities 2012: $0Net Assets 2012: $1,540,1762012Assets 2013: $1,743,110Liabilities 2013: $0Net Assets 2013: $1,743,1102013Assets 2014: $2,149,554Liabilities 2014: $0Net Assets 2014: $2,149,5542014Assets 2015: $2,187,638Liabilities 2015: $0Net Assets 2015: $2,187,6382015Assets 2016: $2,072,641Liabilities 2016: $0Net Assets 2016: $2,072,6412016Assets 2017: $2,254,320Liabilities 2017: $0Net Assets 2017: $2,254,3202017Assets 2018: $2,422,419Liabilities 2018: $0Net Assets 2018: $2,422,4192018Assets 2019: $2,388,877Liabilities 2019: $0Net Assets 2019: $2,388,8772019Assets 2020: $2,485,641Liabilities 2020: $0Net Assets 2020: $2,485,6412020Assets 2021: $3,129,371Liabilities 2021: $0Net Assets 2021: $3,129,3712021Assets 2022: $3,802,636Liabilities 2022: $0Net Assets 2022: $3,802,6362022Assets 2023: $3,945,036Liabilities 2023: $0Net Assets 2023: $3,945,0362023Assets 2024: $4,691,639Liabilities 2024: $0Net Assets 2024: $4,691,6392024Assets 2025: $5,037,097Liabilities 2025: $0Net Assets 2025: $5,037,0972025

Highlighted filing

2024

Assets$4,691,639
Liabilities$0
Net Assets$4,691,639
Open 2024 Filing

Operations Trend

Revenue Growth78th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2012: $75,207Expenses 2012: $79,609Net Income 2012: -$4,4022012Revenue 2013: $128,145Expenses 2013: $82,022Net Income 2013: $46,1232013Revenue 2014: $384,219Expenses 2014: $80,158Net Income 2014: $304,0612014Revenue 2015: $137,966Expenses 2015: $103,787Net Income 2015: $34,1792015Revenue 2016: $80,305Expenses 2016: $93,161Net Income 2016: -$12,8562016Revenue 2017: $140,273Expenses 2017: $96,224Net Income 2017: $44,0492017Revenue 2018: $167,442Expenses 2018: $107,352Net Income 2018: $60,0902018Revenue 2019: $236,946Expenses 2019: $101,326Net Income 2019: $135,6202019Revenue 2020: $184,363Expenses 2020: $117,474Net Income 2020: $66,8892020Revenue 2021: $122,058Expenses 2021: $44,939Net Income 2021: $77,1192021Revenue 2022: $1,332,633Expenses 2022: $205,444Net Income 2022: $1,127,1892022Revenue 2023: $360,206Expenses 2023: $150,879Net Income 2023: $209,3272023Revenue 2024: $497,415Expenses 2024: $125,151Net Income 2024: $372,2642024Revenue 2025: $375,840Expenses 2025: $174,750Net Income 2025: $201,0902025

Highlighted filing

2024

Revenue$497,415
Expenses$125,151
Net Income$372,264
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2023 to May 31, 2024
Signed
Nov 11, 2024
Return Version
2023v5.1
Gross Receipts
$1,435,388
Mission and Program Overview

Mission

The mission is to manage endowment funds for the abilene philharmonic association.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,374,893$4,069,540▲ $694,647
Cash and Non-Interest-Bearing Accounts$17,789$23,987▲ $6,198
Savings and Temporary Cash Investments-$0-
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-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$3,945,036$4,691,639▲ $746,603
Other Assets Total$552,354$598,112▲ $45,758
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$3,945,036$4,691,639▲ $746,603
Total Net Assets Fund Balance$3,945,036$4,691,639▲ $746,603
Total Liabilities and Net Assets / Fund Balance$3,945,036$4,691,639▲ $746,603

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$7,056$7,056
Other Assets Org$598,112--
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

NameTitle
Mark HooverPresident
Mike YoungVice President
Elizabeth MillerDesignated Director
Evan SimmonsDesignated Director
Joe BilesDesignated Director
Mark KappelDirector
Roberta KalafutDirector
Vance CookseySecretary
Josh FlemingTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$296,908
Program Service Revenue
$0
Investment Income
$200,507
Other Revenue
$0
All Other Contributions
$296,908
Change in Net Assets
$372,264
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$106,388
Other Expenses$18,763
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$106,388--$106,388
Fees for Service Investment Mgmnt Fees$16,203--$16,203
Fees for Services Accounting-$1,900-$1,900
Other Expenses$419--$419
Depreciation Depletion$241--$241
Total Functional Expenses$123,251$1,900$0$125,151
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Abilene Philharmonic AssocAbilene, TX501(c)(3)Operations$106,388
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
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
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
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, Part VI, Section B, Line 11B

“Form 990 and supporting schedules are supplied to the president to be distributed and reviewed by board members. Any questions are answered and adjustments made as deemed necessary, after which approval is given to finalize the informational tax return.”

Form 990, Part VI, Section B, Line 12C

“Conflicts of interest are discussed at the annual board meeting with members full understaning of a potential issue and reporting if they have a situation that they feel may need clarification and/or review.”

Form 990, Part VI, Section C, Line 19

“The organization makes its financial statements and governing documents available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Abilene Philharmonic Foundation
EIN
75-2281734
Phone
3256776710
Address
1102 N 3RD STREET, ABILENE, TX 79601

Signing Officer

Name
Mark Hoover
Title
President
Signed
2024-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Hoover
Formed
1988
Legal Domicile
TX
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
9

Preparer

Firm
DA Shepherd & Associates LLC
Address
566 E Ambler, Abilene, TX 79601
Preparer
Dee Ann Shepherd CPA
Phone
3256771231
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0Through its investment activities and distribution of endowment investment gains, the Foundation provided funds to the Abilene Philharmonic Association to support all aspects of presenting orchesteral music, education and community engagement, including concerts for school children, for the city of Abilene, and the surrounding region.By providing a quarterly grant, the Foundation allows the Abilene Philharmonic Association to use those funds where they are most needed, in any area of it's operations. The sole purpose of the Foundation is to manage endowment funds and provide suport to the Abilene Philharmonic Association.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1Currently, the Foundation's distribution of investment gains provides just over 11% of the Association's annual receipts. If the Foundation did not perform their activities the Association would be forced to assume those responsibilities which could potentially result in a decrease in orchesteral music activities for the Association and/or having to increase its annual fundraising.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Part IV, Section E, Line 2a: Identify Supported Orgs. and Explain How Activities Furthered Exempt Pu
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1Part IV, Section E, Line 2b: Reasons For The Organization's Position
IRS990ScheduleA/OtherSupportSumAmt00
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IRS990ScheduleA/SupportedOrganizationsTotalCnt01
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0106388
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0ABILENE PHILHARMONIC ASSOCIATION
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0BENEFICIAL INT. IN ASSETS HELD BY OTHERS
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt07056
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt07056
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0598112
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IRS990ScheduleI/RecipientTable/CashGrantAmt0106388
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(c)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0OPERATIONS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0ABILENE PHILHARMONIC ASSOC
IRS990ScheduleI/RecipientTable/RecipientEIN0756004978
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01102 N 3RD STREET
IRS990ScheduleI/RecipientTable/USAddress/CityNm0ABILENE
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0TX
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd079601
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0FMV
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IRS990ScheduleI/TotalOtherOrgCnt01
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 AND SUPPORTING SCHEDULES ARE SUPPLIED TO THE PRESIDENT TO BE DISTRIBUTED AND REVIEWED BY BOARD MEMBERS. ANY QUESTIONS ARE ANSWERED AND ADJUSTMENTS MADE AS DEEMED NECESSARY, AFTER WHICH APPROVAL IS GIVEN TO FINALIZE THE INFORMATIONAL TAX RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CONFLICTS OF INTEREST ARE DISCUSSED AT THE ANNUAL BOARD MEETING WITH MEMBERS FULL UNDERSTANING OF A POTENTIAL ISSUE AND REPORTING IF THEY HAVE A SITUATION THAT THEY FEEL MAY NEED CLARIFICATION AND/OR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
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IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0true
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0ABILENE PHILHARMONIC ASSOCIATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0756004978
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0SYMPHONY ORCHESTRA
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0ABILENE
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd079601
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IRS990ScheduleR/SharingOfFacilitiesInd0true
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0106388
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0As Needed
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1No Cost
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0ABILENE PHILHARMONIC ASSOCIATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1ABILENE PHILHARMONIC ASSOCIATION
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03945036
IRS990/TotalAssetsEOYAmt04691639

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,691,639
Liabilities
$0
Net assets
$4,691,639
Revenue
$497,415
Expenses
$125,151
Net income
$372,264
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$5.04$0.00$5.04$0.38$0.17$0.20
2024Detailed filing. Detailed filing data is available for this year.$4.69$0.00$4.69$0.50$0.13$0.37
2023Detailed filing. Detailed filing data is available for this year.$3.95$0.00$3.95$0.36$0.15$0.21
2022Detailed filing. Detailed filing data is available for this year.$3.80$0.00$3.80$1.33$0.21$1.13
2021Detailed filing. Detailed filing data is available for this year.$3.13$0.00$3.13$0.12$0.04$0.08
2020Detailed filing. Detailed filing data is available for this year.$2.49$0.00$2.49$0.18$0.12$0.07
2019Detailed filing. Detailed filing data is available for this year.$2.39$0.00$2.39$0.24$0.10$0.14
2018Detailed filing. Detailed filing data is available for this year.$2.42$0.00$2.42$0.17$0.11$0.06
2017Detailed filing. Detailed filing data is available for this year.$2.25$0.00$2.25$0.14$0.10$0.04
2016Detailed filing. Detailed filing data is available for this year.$2.07$0.00$2.07$0.08$0.09$0.01
2015Detailed filing. Detailed filing data is available for this year.$2.19$0.00$2.19$0.14$0.10$0.03
2014Detailed filing. Detailed filing data is available for this year.$2.15$0.00$2.15$0.38$0.08$0.30
2013Summary only. Only limited summary data is available for this year.$1.74$0.00$1.74$0.13$0.08$0.05
2012Summary only. Only limited summary data is available for this year.$1.54$0.00$1.54$0.08$0.08$0.00