Civic Intelligence

Foundation for the Arts

990 • Fiscal year 2016 • EIN 75-6036753

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 15, 2017

Organization ProfileN/A
1203 lausanne avenuedallas, TX 75208

(214) 943-1514

Siviq Scores

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

Liabilities / Assets

8th percentile

0.00x

Higher debt load relative to assets than 8% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

24th percentile

0.09x

Higher debt load relative to revenue than 24% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

91st percentile

45%

Higher net margin than 91% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

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

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

80th percentile

14%

Faster asset growth than 80% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

9th percentile

-34%

Faster revenue growth than 9% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets8th percentile

Assets

Up

$19,279,164

Up $2,356,190 (+14%) from 2015

Net Assets

Up

$19,238,241

Up $2,520,217 (+15%) from 2015

Liabilities

Down

$40,923

Down $164,027 (-80%) from 2015

Revenue And Expenses
Liabilities / Revenue24th percentileNet Margin91st percentile

Revenue

Down

$480,936

Down $243,446 (-34%) from 2015

Expenses

Down

$262,804

Down $1,675,079 (-86%) from 2015

Net Income

Up

$218,132

Up $1,431,633 (+118%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth80th percentile

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

$40M$30M$20M$10M$0Assets 2010: $17,287,799Liabilities 2010: $37,101Net Assets 2010: $17,250,6982010Assets 2011: $18,090,008Liabilities 2011: $37,080Net Assets 2011: $18,052,9282011Assets 2012: $17,837,114Liabilities 2012: $38,827Net Assets 2012: $17,798,2872012Assets 2013: $18,038,618Liabilities 2013: $37,023Net Assets 2013: $18,001,5952013Assets 2014: $17,974,658Liabilities 2014: $43,133Net Assets 2014: $17,931,5252014Assets 2015: $16,922,974Liabilities 2015: $204,950Net Assets 2015: $16,718,0242015Assets 2016: $19,279,164Liabilities 2016: $40,923Net Assets 2016: $19,238,2412016Assets 2017: $23,397,839Liabilities 2017: $43,403Net Assets 2017: $23,354,4362017Assets 2018: $21,767,897Liabilities 2018: $54,513Net Assets 2018: $21,713,3842018Assets 2019: $27,103,795Liabilities 2019: $55,137Net Assets 2019: $27,048,6582019Assets 2020: $29,037,588Liabilities 2020: $60,009Net Assets 2020: $28,977,5792020Assets 2021: $33,202,337Liabilities 2021: $62,302Net Assets 2021: $33,140,0352021Assets 2022: $27,919,291Liabilities 2022: $57,493Net Assets 2022: $27,861,7982022Assets 2023: $29,738,296Liabilities 2023: $62,564Net Assets 2023: $29,675,7322023Assets 2024: $36,612,991Liabilities 2024: $68,902Net Assets 2024: $36,544,0892024

Highlighted filing

2016

Assets$19,279,164
Liabilities$40,923
Net Assets$19,238,241
Open 2016 Filing

Operations Trend

Revenue Growth9th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2010: $722,332Expenses 2010: $117,477Net Income 2010: $604,8552010Revenue 2011: $909,197Expenses 2011: $106,967Net Income 2011: $802,2302011Revenue 2012: -$73,983Expenses 2012: $180,658Net Income 2012: -$254,6412012Revenue 2013: $1,206,530Expenses 2013: $1,003,222Net Income 2013: $203,3082013Revenue 2014: $1,943,221Expenses 2014: $2,013,291Net Income 2014: -$70,0702014Revenue 2015: $724,382Expenses 2015: $1,937,883Net Income 2015: -$1,213,5012015Revenue 2016: $480,936Expenses 2016: $262,804Net Income 2016: $218,1322016Revenue 2017: $2,937,254Expenses 2017: $154,252Net Income 2017: $2,783,0022017Revenue 2018: $955,642Expenses 2018: $186,501Net Income 2018: $769,1412018Revenue 2019: $1,040,649Expenses 2019: $194,750Net Income 2019: $845,8992019Revenue 2020: $1,371,356Expenses 2020: $1,914,892Net Income 2020: -$543,5362020Revenue 2021: $1,666,820Expenses 2021: $218,594Net Income 2021: $1,448,2262021Revenue 2022: $1,058,188Expenses 2022: $209,942Net Income 2022: $848,2462022Revenue 2023: $2,329,855Expenses 2023: $2,510,724Net Income 2023: -$180,8692023Revenue 2024: $6,408,863Expenses 2024: $919,739Net Income 2024: $5,489,1242024

Highlighted filing

2016

Revenue$480,936
Expenses$262,804
Net Income$218,132
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 15, 2017
Return Version
2016v3.1
Gross Receipts
$480,936
Mission and Program Overview

Mission

Acquire art for the dallas museum of art

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$16,330,627$18,735,155▲ $2,404,528
Savings and Temporary Cash Investments$401,128$525,874▲ $124,746
Accounts Receivable$191,219$18,135▼ $173,084
Cash and Non-Interest-Bearing Accounts$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
Investments Program Related$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$16,922,974$19,279,164▲ $2,356,190
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$204,950$40,923▼ $164,027
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$204,950$40,923▼ $164,027
Net Assets / Fund Balance
Temporarily Rstr Net Assets$16,567,575$18,278,213▲ $1,710,638
Unrestricted Net Assets$150,449$960,028▲ $809,579
Permanently Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$16,718,024$19,238,241▲ $2,520,217
Total Liabilities and Net Assets / Fund Balance$16,922,974$19,279,164▲ $2,356,190
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

NameTitle
George T Lee JrPresident/director
Thomas CampbellSecretary/vice President
Arlene DaytonDirector
Cullum ClarkDirector
Dr William B JordanDirector
Elizabeth BoeckmanDirector
Jim ClarkDirector
Mary Mcdermott CookTreasurer/director
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$480,936
Other Revenue
$0
Change in Net Assets
$218,132

Audited Revenue Reconciliation

Revenue per Audited Statements
$360,310
Revenue Not Reported on Financial Statements
$120,626
Revenue Not Reported on Form 990
$809,249
Total Revenue per Audited Statements
$1,169,559
Total Revenue per Form 990
$480,936
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$149,251
Grants and Similar Amounts Paid$113,553
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Service Investment Mgmnt Fees-$120,626-$120,626
Grants to Domestic Orgs$113,553--$113,553
Fees for Services Accounting-$24,723-$24,723
Insurance-$3,902-$3,902
Total Functional Expenses$113,553$149,251$0$262,804

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$262,804
Expenses per Audited Statements$142,178
Total Expenses per Audited Statements$142,178
Expenses Not Reported on Financial Statements$120,626
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Dallas Museum of ArtDallas, TX501(c)(3)General Support$113,553
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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
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
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Foundation for the arts
EIN
75-6036753
In Care Of
% GEORGE T LEE JR
Phone
2149431514
Address
1203 lausanne avenue, dallas, TX 75208

Signing Officer

Name
George T Lee Jr
Title
President
Phone
2149431514
Signed
2017-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
George T Lee Jr
Formed
1963
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
7

Preparer

Firm
Bruce E Bernstien & Associates
Address
10440 N CENTRAL EXPRESSWAY STE 1040, DALLAS, TX 75231
Preparer
Bruce E Bernstien
Phone
2147060840
Supplemental Narrative

Additional Explanations

Review Process

“Form 990, part vi, section b, line 11: the president and secretary of the organization review the 990 in detail before filing.”

The Organization Made Its Documents Not Available to the Public

“FORM 990, PART VI, SECTION C, LINE 19: The organization's financial statements, the articles of incorporation and other governing documents are made available to the public upon request.”

Financial Statement Notes

footnote of financial statements that describe works of art

“FORM 990, SCHEDULE D, PART III, LINE 1a: Art purchases are recorded as a reduction of net assets in the year of purchase and therefore are not reported as assets in the statements of financial position. Contributions of works of art are recorded as contributions and an offset to acquisition expense in the year they are received”

A DESCRIPTION OF FOUNDATION FOR THE ARTS' COLLECTIONS

“Form 990, schedule d, part iii, line 4: the foundation for the arts'(the foundation)collection is made up of numerous and various works of art pursuant to a contract between the foundation and the dallas museum of art(the museum). All art owned by the foundation is for the sole use of the museum in its displays to the public so long as the museum complies with the contract. The foundation's primary purpose is to provide funding for the acquisition of art displayed or held at the museum.”

Raw XML AppendixShowing 400 of 500 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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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0Form 990, sCHEDULE A, part iv, section a, line 1: foundation for the arts has a historic and continuing relationship with the Dallas musuem of art. this relationship is outlined in an agreement between the organizations dated april 3, 1963. The dallas musuem of art is the sole supported organization of the foundation for the arts.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1FORM 990, SCHEDULE A, SECTION d, LINE 3: By virtue of that certain agreement dated April 3, 1963, between Foundation for the Arts and the Dallas Museum of Art, Foundation for the Arts agreed that no acquisition or disposition of the collection of Foundation for the Arts shall be made without the consent of the Director of the Dallas Museum of Art and the acquisition committee of the Museum.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt2FORM 990, SCHEDULE A, SECTION E, LINE 2A: FOUNDATION FOR THE ARTS' PURPOSE IS TO ACQUIRE AND OWN PAINTINGS, SCULPTUREs AND OTHER WORKS OF ART, AND TO EXHIBIT THEM TO THE PUBLIC. THIS IS THE SAME PURPOSE AS THE DALLAS MUSEUM OF ART WHICH THE FOUNDATION FOR THE ARTS SUPPORTS. reasons for the org's supported org engaged in activities but for org's involvement FORM 990, SCHEDULE A, SECTION E, LINE 2b: Pursuant to the Mission statement adopted by the Dallas Museum of Art, one of the missions of the Museum is to display art to the public. If the Foundation for the Arts does not perform its function to acquire works of art, the Dallas Museum of Art would engage in those activities of the Foundation themselves.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0how the supported organization is designaged
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1describtion of the role the organization's supported organization played
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc2EXEMPT PURPOSE OF FOUNDATION FOR THE ARTs
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0DALLAS MUSEUM OF ART
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IRS990ScheduleA/SupportSumAmt0113553
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IRS990ScheduleD/CollectionUsedPubExhibitionInd0X
IRS990ScheduleD/CollUsedLoanOrExchProgInd0X
IRS990ScheduleD/CollUsedScholarlyRsrchInd0X
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0120626
IRS990ScheduleD/ExpensesSubtotalAmt0142178
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt0120626
IRS990ScheduleD/InvestmentExpensesNotIncldAmt0120626
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0809249
IRS990ScheduleD/RevenueNotReportedAmt0809249
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0120626
IRS990ScheduleD/RevenueSubtotalAmt0360310
IRS990ScheduleD/SolicitedAssetsSaleInd0false
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FORM 990, SCHEDULE D, PART III, LINE 1a: Art purchases are recorded as a reduction of net assets in the year of purchase and therefore are not reported as assets in the statements of financial position. Contributions of works of art are recorded as contributions and an offset to acquisition expense in the year they are received
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FORM 990, SCHEDULE D, PART III, LINE 4: THE FOUNDATION FOR THE ARTS'(THE FOUNDATION)COLLECTION IS MADE UP OF NUMEROUS AND VARIOUS WORKS OF ART PURSUANT TO A CONTRACT BETWEEN THE FOUNDATION AND THE DALLAS MUSEUM OF ART(THE MUSEUM). ALL ART OWNED BY THE FOUNDATION IS FOR THE SOLE USE OF THE MUSEUM IN ITS DISPLAYS TO THE PUBLIC SO LONG AS THE MUSEUM COMPLIES WITH THE CONTRACT. THE FOUNDATION'S PRIMARY PURPOSE IS TO PROVIDE FUNDING FOR THE ACQUISITION OF ART DISPLAYED OR HELD AT THE MUSEUM.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0footnote of financial statements that describe works of art
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1A DESCRIPTION OF FOUNDATION FOR THE ARTS' COLLECTIONS
IRS990ScheduleD/TotalExpensesPerForm990Amt0262804
IRS990ScheduleD/TotalRevenuePerForm990Amt0480936
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01169559
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0142178
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt0113553
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0GENERAL SUPPORT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0DALLAS MUSEUM OF ART
IRS990ScheduleI/RecipientTable/RecipientEIN0750808774
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01717 NORTH HARWOOD ST
IRS990ScheduleI/RecipientTable/USAddress/CityNm0DALLAS
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0TX
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd075201
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0SCHEDULE I, PART I, LINE 2: Grants made to other organizations are monitored by the organization's review of the stated program and/or purpose for which the grant was intended, including observation, and from time to time, communication to the board of directors via formal presentation by the award recipient.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0MONITORING OF GRANTS
IRS990ScheduleI/Total501c3OrgCnt01
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990, PART VI, SECTION B, LINE 11: THE PRESIDENT AND SECRETARY OF THE ORGANIZATION REVIEW THE 990 IN DETAIL BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990, PART VI, SECTION C, LINE 19: The organization's financial statements, the articles of incorporation and other governing documents are made available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0REVIEW PROCESS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1THE ORGANIZATION MADE ITS DOCUMENTS NOT AVAILABLE TO THE PUBLIC
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0true
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0DALLAS MUSEUM OF ART
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0750808774
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0TX
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0MUSEUM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt07
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01717 NORTH HARWOOD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0DALLAS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0TX
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd075201
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IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$19,279,164
Liabilities
$40,923
Net assets
$19,238,241
Revenue
$480,936
Expenses
$262,804
Net income
$218,132
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$36.6$0.07$36.5$6.41$0.92$5.49
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$29.7$0.06$29.7$2.33$2.51$0.18
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.9$0.06$27.9$1.06$0.21$0.85
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$33.2$0.06$33.1$1.67$0.22$1.45
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$29.0$0.06$29.0$1.37$1.91$0.54
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.1$0.06$27.0$1.04$0.19$0.85
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$21.8$0.05$21.7$0.96$0.19$0.77
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$23.4$0.04$23.4$2.94$0.15$2.78
2016Detailed filing. Detailed filing data is available for this year.$19.3$0.04$19.2$0.48$0.26$0.22
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.9$0.20$16.7$0.72$1.94$1.21
2014Detailed filing. Detailed filing data is available for this year.$18.0$0.04$17.9$1.94$2.01$0.07
2013Detailed filing. Detailed filing data is available for this year.$18.0$0.04$18.0$1.21$1.00$0.20
2012Summary only. Only limited summary data is available for this year.$17.8$0.04$17.8$0.07$0.18$0.25
2011Summary only. Only limited summary data is available for this year.$18.1$0.04$18.1$0.91$0.11$0.80
2010Summary only. Only limited summary data is available for this year.$17.3$0.04$17.3$0.72$0.12$0.60