Civic Intelligence

Houston Grand Opera Endowment Inc.

990 • Fiscal year 2017 • EIN 76-0038314

Aug 01, 2016 to Jul 31, 2017 • Filed on May 18, 2018

Organization ProfileN/A
510 PrestonHouston, TX 77002

(713) 546-0257

Siviq Scores

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

Liabilities / Assets

2nd percentile

0.00x

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

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Liabilities / Revenue

2nd percentile

0.00x

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

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Net Margin

10th percentile

-16%

Higher net margin than 10% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Top Officer Pay

4th percentile

$0

Higher top officer pay than 4% of similar nonprofits.

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

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Asset Growth

36th percentile

2.5%

Faster asset growth than 36% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Revenue Growth

26th percentile

-1.7%

Faster revenue growth than 26% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets2nd percentile

Assets

Up

$59,259,136

Up $1,439,605 (+2.5%) from 2016

Net Assets

Up

$59,259,136

Up $1,439,605 (+2.5%) from 2016

Liabilities

Flat

$0

Flat from 2016

Revenue And Expenses
Liabilities / Revenue2nd percentileNet Margin10th percentile

Revenue

Down

$3,616,123

Down $62,960 (-1.7%) from 2016

Expenses

Up

$4,203,584

Up $249,738 (+6.3%) from 2016

Net Income

Down

-$587,461

Down $312,698 (-114%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth36th percentile

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

$150M$100M$50M$0Assets 2011: $47,127,641Liabilities 2011: $0Net Assets 2011: $47,127,6412011Assets 2012: $46,067,352Liabilities 2012: $0Net Assets 2012: $46,067,3522012Assets 2013: $52,420,392Liabilities 2013: $10,261Net Assets 2013: $52,410,1312013Assets 2014: $56,301,236Liabilities 2014: $0Net Assets 2014: $56,301,2362014Assets 2015: $58,770,174Liabilities 2015: $0Net Assets 2015: $58,770,1742015Assets 2016: $57,819,531Liabilities 2016: $0Net Assets 2016: $57,819,5312016Assets 2017: $59,259,136Liabilities 2017: $0Net Assets 2017: $59,259,1362017Assets 2018: $68,447,155Liabilities 2018: $0Net Assets 2018: $68,447,1552018Assets 2019: $69,444,046Liabilities 2019: $26,552Net Assets 2019: $69,417,4942019Assets 2020: $73,373,841Liabilities 2020: $57,313Net Assets 2020: $73,316,5282020Assets 2021: $94,842,059Liabilities 2021: $78,067Net Assets 2021: $94,763,9922021Assets 2022: $88,799,109Liabilities 2022: $0Net Assets 2022: $88,799,1092022Assets 2023: $104,946,305Liabilities 2023: $0Net Assets 2023: $104,946,3052023Assets 2024: $120,594,660Liabilities 2024: $118,258Net Assets 2024: $120,476,4022024

Highlighted filing

2017

Assets$59,259,136
Liabilities$0
Net Assets$59,259,136
Open 2017 Filing

Operations Trend

Revenue Growth26th percentile

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

$30M$20M$10M$0-$10MExpenses 2011: $2,282,6402011Expenses 2012: $2,230,4922012Expenses 2013: $3,179,7792013Revenue 2014: $3,810,432Expenses 2014: $2,236,798Net Income 2014: $1,573,6342014Revenue 2015: $5,174,560Expenses 2015: $2,174,428Net Income 2015: $3,000,1322015Revenue 2016: $3,679,083Expenses 2016: $3,953,846Net Income 2016: -$274,7632016Revenue 2017: $3,616,123Expenses 2017: $4,203,584Net Income 2017: -$587,4612017Revenue 2018: $8,754,867Expenses 2018: $2,740,579Net Income 2018: $6,014,2882018Revenue 2019: $5,411,103Expenses 2019: $2,995,618Net Income 2019: $2,415,4852019Revenue 2020: $6,541,019Expenses 2020: $2,909,321Net Income 2020: $3,631,6982020Revenue 2021: $24,478,386Expenses 2021: $3,190,290Net Income 2021: $21,288,0962021Revenue 2022: $5,091,198Expenses 2022: $3,386,633Net Income 2022: $1,704,5652022Revenue 2023: $16,748,714Expenses 2023: $3,719,489Net Income 2023: $13,029,2252023Revenue 2024: $8,016,852Expenses 2024: $4,015,494Net Income 2024: $4,001,3582024

Highlighted filing

2017

Revenue$3,616,123
Expenses$4,203,584
Net Income-$587,461
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2016 to Jul 31, 2017
Signed
May 18, 2018
Return Version
2016v3.0
Gross Receipts
$16,480,319
Mission and Program Overview

Mission

This organization accepts, receives, holds, and invests endowment funds for the benefit of Houston Grand Opera Association of Houston, Texas.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$40,332,028$44,241,730▲ $3,909,702
Investments Other Securities$12,062,467$9,262,876▼ $2,799,591
Pledges and Grants Receivable$3,159,279$2,684,423▼ $474,856
Savings and Temporary Cash Investments-$2,070,087-
Cash and Non-Interest-Bearing Accounts$265,737$0▼ $265,737
Land, Buildings, and Equipment, Net$20$20→ $0
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$57,819,531$59,259,136▲ $1,439,605
Other Assets Total$2,000,000$1,000,000▼ $1,000,000
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Permanently Rstr Net Assets$45,752,337$46,608,215▲ $855,878
Temporarily Rstr Net Assets$11,226,027$11,587,218▲ $361,191
Unrestricted Net Assets$841,167$1,063,703▲ $222,536
Total Net Assets Fund Balance$57,819,531$59,259,136▲ $1,439,605
Total Liabilities and Net Assets / Fund Balance$57,819,531$59,259,136▲ $1,439,605

Asset Categories

AssetBook ValueDepreciationBasis
Land$20--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$57,819,531$737,750▲ $4,647,179-$59,259,136
2015$58,770,174$2,529,817▲ $244,822-$57,819,531
2014$56,301,236$2,726,178▲ $1,651,410-$58,770,174
2013$52,410,131$843,353▲ $5,080,285-$56,301,236
2012$46,067,352$3,478,580▲ $5,809,579-$52,410,131
Compensation and Service Providers
Top Officer Pay4th percentile

Board Members and Trustees

NameTitle
Janet Langford CarrigChairman
Terrylin NealeSenior Chairman
Thomas RushingVice Chair
James CrownoverTrustee
Richard HusseiniTrustee
Robert HunterTrustee
Scott WiseTrustee
William E ColburnTrustee
Yolanda KnullTrustee
Stephen KaufmanSec/Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$737,750
Program Service Revenue
$0
Investment Income
$2,864,682
Other Revenue
$13,691
All Other Contributions
$737,750
Change in Net Assets
$-587,461

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,357,863
Revenue Not Reported on Financial Statements
$258,260
Revenue Not Reported on Form 990
$25,638,005
Total Revenue per Audited Statements
$28,995,868
Total Revenue per Form 990
$3,616,123
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$3,930,487
Other Expenses$273,097
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$3,930,487--$3,930,487
Fees for Service Investment Mgmnt Fees-$258,260-$258,260
Fees for Services Accounting-$13,337-$13,337
Office Expenses-$1,500-$1,500
Total Functional Expenses$3,930,487$273,097$0$4,203,584

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$26,274,999
Expenses Not Reported on Form 990$26,260,162
Total Expenses per Form 990$4,203,584
Expenses Not Reported on Financial Statements$4,188,747
Other Expense Adjustments$3,930,487
Expenses per Audited Statements$14,837
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Hou Grand Opera Assoc IncHouston, TX501(c)(3)General support$3,930,487
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
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

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

“The governing board of directors of Houston Grand Opera Association, Inc. appoints the board of trustees of Houston Grand Opera Endowment, Inc.”

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

“Article II of Houston Grand Opera Endowment, Inc.'s bylaws may not be altered, amended or repealed without a majority vote of the governing board of directors of Houston Grand Opera Association, Inc. Article II describes the manner in which trustees are determined as well as the number of trustees and their powers.”

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

“Management reviews the 990 and provides a hard copy to the board of directors in person at a Board of Directors meeting.”

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

“At the beginning of each fiscal year, each member of the board and every officer is provided a copy of the conflict of interest statement to complete. Reminders to complete the form are sent as needed and copies of the statement are provided at board meetings.”

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

“The financial statements are available on www.houstongrandopera.org and the other documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Houston Grand Opera Endowment Inc
EIN
76-0038314
Phone
7135460257
Address
510 Preston, Houston, TX 77002

Signing Officer

Name
Janet Langford Carrig
Title
Chairman
Signed
2018-05-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Janet Langford Carrig
Formed
1982
Legal Domicile
TX
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
10

Preparer

Firm
Blazek & Vetterling
Address
2900 Weslayan Suite 200, Houston, TX 77027-5132
Preparer
Jody Blazek
Phone
7134395739
Supplemental Narrative

Financial Statement Notes

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

“The organization's endowment funds are held solely to support the following activities of Houston Grand Opera Association: general operating, studio, electronic media, music director chair, new productions, Concert of Arias, education, Spring Opera Festival, new productions with artistic merit, and Wagner opera performances.”

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

“Consol. audit - revenue of affiliates $23610939”

Part XII, Line 2D: Other expenses and losses per audited F/S

“Consol. audit - expenses of affiliates $26260162”

Part XII, Line 4B: Other revenue amounts included on 990 but not included in F/S

“Grant to affiliate $3930487”

Raw XML AppendixShowing 400 of 550 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The organization's endowment funds are held solely to support the following activities of Houston Grand Opera Association: general operating, studio, electronic media, music director chair, new productions, Concert of Arias, education, Spring Opera Festival, new productions with artistic merit, and Wagner opera performances.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Consol. audit - revenue of affiliates $23610939
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Consol. audit - expenses of affiliates $26260162
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3Grant to affiliate $3930487
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$59,259,136
Liabilities
$0
Net assets
$59,259,136
Revenue
$3,616,123
Expenses
$4,203,584
Net income
-$587,461
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$121$0.12$120$8.02$4.02$4.00
2023Summary only. Only limited summary data is available for this year.$105$0.00$105$16.7$3.72$13.0
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$88.8$0.00$88.8$5.09$3.39$1.70
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$94.8$0.08$94.8$24.5$3.19$21.3
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$73.4$0.06$73.3$6.54$2.91$3.63
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$69.4$0.03$69.4$5.41$3.00$2.42
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$68.4$0.00$68.4$8.75$2.74$6.01
2017Detailed filing. Detailed filing data is available for this year.$59.3$0.00$59.3$3.62$4.20$0.59
2016Detailed filing. Detailed filing data is available for this year.$57.8$0.00$57.8$3.68$3.95$0.27
2015Summary only. Only limited summary data is available for this year.$58.8$0.00$58.8$5.17$2.17$3.00
2014Detailed filing. Detailed filing data is available for this year.$56.3$0.00$56.3$3.81$2.24$1.57
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$52.4$0.01$52.4$3.18
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$46.1$0.00$46.1$2.23
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$47.1$0.00$47.1$2.28