Liabilities / Assets
59th percentile
Higher debt load relative to assets than 59% of similar nonprofits.
The Fine Arts Foundation
990 • Fiscal year 2020 • EIN 76-0115712
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.17x
Liabilities / Revenue
56th percentile
Higher debt load relative to revenue than 56% of similar nonprofits.
Net Margin
96th percentile
Higher net margin than 96% of similar nonprofits.
Top Officer Pay
37th percentile
Higher top officer pay than 37% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
99th percentile
Faster asset growth than 99% of similar nonprofits.
Revenue Growth
93rd percentile
Faster revenue growth than 93% of similar nonprofits.
Balance Sheet
Assets
Up$130,236
Up $108,906 (+511%) from 2019
Net Assets
Up$108,236
Up $86,906 (+407%) from 2019
Liabilities
Up$22,000
Up $22,000 from 2019
Revenue And Expenses
Revenue
Up$123,640
Up $61,827 (+100%) from 2019
Expenses
Down$27,039
Down $24,563 (-48%) from 2019
Net Income
Up$96,601
Up $86,390 (+846%) from 2019
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2020 to Dec 31, 2020
- Signed
- Nov 8, 2021
- Return Version
- 2020v4.0
- Gross Receipts
- $1,379,044
Mission and Program Overview
Mission
Our mission is to make the arts available for people so that they can appreciate their cultural value and influence. Our main emphasis is on "folk art" as expressed in music and cultural traditions, especially in the celtic and brittish isles tradition. We also have a special emphasis on assisting students and specially challenge individuals wanting to improve culturally. We support individuals and organizations providing basic assistance to such persons in order to provide a foundation on which cultural advancement may progress.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Cash and Non-Interest-Bearing Accounts | $11,635 | $130,236 | ▲ $118,601 |
| Total Assets | $11,635 | $130,236 | ▲ $118,601 |
| Liabilities | |||
| Unsecured Notes Loans Payable | - | $22,000 | - |
| Total Liabilities | $0 | $22,000 | ▲ $22,000 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $11,635 | $108,236 | ▲ $96,601 |
| Total Net Assets Fund Balance | $11,635 | $108,236 | ▲ $96,601 |
| Total Liabilities and Net Assets / Fund Balance | $11,635 | $130,236 | ▲ $118,601 |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| James P Arnold | President |
| Sheri Hausey | Historian |
| Carol Warren | Secretary |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $62,858
- Program Service Revenue
- $0
- Investment Income
- $0
- Other Revenue
- $60,782
- All Other Contributions
- $62,858
- Change in Net Assets
- $96,601
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Grants and Similar Amounts Paid | $15,144 |
| Other Expenses | $11,895 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Orgs | $10,050 | - | - | $10,050 |
| Fees for Services Management | - | $9,900 | - | $9,900 |
| Grants to Domestic Individuals | $5,094 | - | - | $5,094 |
| Fees for Services Other | $1,175 | $820 | - | $1,995 |
| Total Functional Expenses | $16,319 | $10,720 | $0 | $27,039 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- Yes
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Gaming Gross Income | $1,316,186 |
| Gaming Direct Expenses | $1,255,404 |
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- 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
- Yes
- Other officer compensation reviewed
- Yes
- Conflict-of-interest policy
- No
- Audited financial statements prepared
- No
- Key decisions subject to board approval
- Yes
- Management duties delegated
- No
Governance Explanations
Form 990, Page 6, Part VI, Line 6
“YES”
Form 990, Page 6, Part VI, Line 7A
“ELECTIONS HELD AS NEEDED”
Form 990, Page 6, Part VI, Line 7B
“The decisions are subject to the approval of members (yes)”
Form 990, Page 6, Part VI, Line 11B
“Members review the 990 prior to going out for errors and omissions. The process used by the organization is two fold. The first step is to gather data and examine by the president and vice president. Any questions are directed to the responsible parties. The second step is filing out the forms 990 and send to accountant and directors.”
Form 990, Page 6, Part VI, Line 15A
“The organization reviewed to compatibility data for compensation in leadership positins of similar organizations. Internal reviews and discussions were held in order to evaluate our policies and recommendations made by officers. An annual reveiw of compensation is in place”
Form 990, Page 6, Part VI, Line 15B
“Policy is reviewed annually”
Form 990, Page 6, Part VI, Line 19
“The organization makes it's governing documents, financial statements, and other protocols available to the public upon request.”
Filing and Contact Details
Filer
- Filer Name
- The Fine Arts Foundation
- EIN
- 76-0115712
- Phone
- 7135233511
- Address
- PO BOX 542254, HOUSTON, TX 77254
Signing Officer
- Name
- James P Arnold
- Title
- President
- Phone
- 7135408670
- Signed
- 2021-11-08
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- James P Arnold
- Formed
- 1985
- Legal Domicile
- TX
- Voting Board Members
- 4
- Independent Board Members
- 4
- Employees
- 0
Preparer
- Firm
- Randell M Naquin CPA Pllc
- Address
- 2511 FOXGLOVE DR, PEARLAND, TX 77584
- Preparer
- Randell M Naquin
- Phone
- 7138180807
Supplemental Narrative
Additional Explanations
FORM 990 - ORGANIZATION'S MISSION
“Our mission is to make the arts available for people so that they can appreciate their cultural value and influence. Our main emphasis is on "folk art" as expressed in music and cultural traditions, especially in the celtic and brittish isles tradition. We also have a special emphasis on assisting students and specially challenge individuals wanting to improve culturally. We support individuals and organizations providing basic assistance to such persons in order to provide a foundation on which cultural advancement may progress.”
Form 990, Page 2, Part III, Line 4D
“Helped to develop musical programs and skill in the middle east with remember the river program that we provide scholorships, teaching programs, instruments, and recordings on site in that country.”
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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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| IRS990/ForeignFinancialAccountInd | 0 | false |
| IRS990/ForeignOfficeInd | 0 | false |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 1 | SECRETARY |
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| IRS990/Form990ProvidedToGvrnBodyInd | 0 | false |
| IRS990/Form990TFiledInd | 0 | true |
| IRS990/FormationYr | 0 | 1985 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | false |
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| IRS990/FundraisingActivitiesInd | 0 | false |
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| IRS990/GamingGrossIncomeAmt | 0 | 1316186 |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 4 |
| IRS990/GrantAmt | 0 | 4890 |
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| IRS990/GrantsToDomesticIndividualsGrp/TotalAmt | 0 | 5094 |
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| IRS990/GrantsToDomesticOrgsGrp/TotalAmt | 0 | 10050 |
| IRS990/GrantsToIndividualsInd | 0 | true |
| IRS990/GrantsToOrganizationsInd | 0 | false |
| IRS990/GrantToRelatedPersonInd | 0 | false |
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| IRS990/GroupReturnForAffiliatesInd | 0 | false |
| IRS990/IncludeFIN48FootnoteInd | 0 | false |
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| IRS990/IndependentVotingMemberCnt | 0 | 4 |
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| IRS990/LoanOutstandingInd | 0 | false |
| IRS990/LobbyingActivitiesInd | 0 | false |
| IRS990/LocalChaptersInd | 0 | false |
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| IRS990/ProgSrvcAccomActy3Grp/Desc | 0 | PERFORMANCE EDUCATION PROJECTS: THE FOUNDATION LIBRARY PROVIDED DRAMA, SPEECH, AND MUSIC PERFORMANCE DESIGNED TO ENHANCE THE APPRECIATION OF AMERICAN FOLK ART AND CUTURE WITH AN EARLY EMPHASIS ON EARLY AMERICAN FOLK TALES AND BIBLICAL INTERPRETATIONS. GUIDANCE AND DIRECTION WERE PROVIDED FOR THE STUDY OF BIBLICAL MUSIC, AND WELL AS CELTIC AND NATIVE AMERICAN CULTURES. 2000 PEOPLE WERE SERVED. |
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| IRS990/ProgSrvcAccomActyOtherGrp/Desc | 0 | HELPED TO DEVELOP MUSICAL PROGRAMS AND SKILL IN THE MIDDLE EAST WITH REMEMBER THE RIVER PROGRAM THAT WE PROVIDE SCHOLORSHIPS, TEACHING PROGRAMS, INSTRUMENTS, AND RECORDINGS ON SITE IN THAT COUNTRY. |
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| IRS990ScheduleG/PersonsWithBooksUSAddress/StateAbbreviationCd | 0 | TX |
| IRS990ScheduleG/PersonsWithBooksUSAddress/ZIPCd | 0 | 77301 |
| IRS990ScheduleG/StatesWhereGamingConductedCd | 0 | TX |
| IRS990ScheduleG/SupplementalInformationDetail/ExplanationTxt | 0 | TEXAS 60,779 |
| IRS990ScheduleG/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE G, PAGE 3, PART III, LINE 17B |
| IRS990ScheduleI/GrantRecordsMaintainedInd | 0 | true |
| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt | 0 | 1890 |
| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt | 1 | 3204 |
| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt | 0 | CASH DONATIONS |
| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt | 1 | CASH DONATIONS |
| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt | 0 | 2 |
| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt | 1 | 1 |
| IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt | 0 | THESE ARE BASED ON JUDGEMENT OF MANAGEMENT |
| IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE I, PAGE 1, PART I, LINE 2 |
| IRS990/ScheduleJRequiredInd | 0 | false |
| IRS990/ScheduleORequiredInd | 0 | true |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | OUR MISSION IS TO MAKE THE ARTS AVAILABLE FOR PEOPLE SO THAT THEY CAN APPRECIATE THEIR CULTURAL VALUE AND INFLUENCE. OUR MAIN EMPHASIS IS ON "FOLK ART" AS EXPRESSED IN MUSIC AND CULTURAL TRADITIONS, ESPECIALLY IN THE CELTIC AND BRITTISH ISLES TRADITION. WE ALSO HAVE A SPECIAL EMPHASIS ON ASSISTING STUDENTS AND SPECIALLY CHALLENGE INDIVIDUALS WANTING TO IMPROVE CULTURALLY. WE SUPPORT INDIVIDUALS AND ORGANIZATIONS PROVIDING BASIC ASSISTANCE TO SUCH PERSONS IN ORDER TO PROVIDE A FOUNDATION ON WHICH CULTURAL ADVANCEMENT MAY PROGRESS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | HELPED TO DEVELOP MUSICAL PROGRAMS AND SKILL IN THE MIDDLE EAST WITH REMEMBER THE RIVER PROGRAM THAT WE PROVIDE SCHOLORSHIPS, TEACHING PROGRAMS, INSTRUMENTS, AND RECORDINGS ON SITE IN THAT COUNTRY. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | YES |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | ELECTIONS HELD AS NEEDED |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | THE DECISIONS ARE SUBJECT TO THE APPROVAL OF MEMBERS (YES) |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | MEMBERS REVIEW THE 990 PRIOR TO GOING OUT FOR ERRORS AND OMISSIONS. THE PROCESS USED BY THE ORGANIZATION IS TWO FOLD. THE FIRST STEP IS TO GATHER DATA AND EXAMINE BY THE PRESIDENT AND VICE PRESIDENT. ANY QUESTIONS ARE DIRECTED TO THE RESPONSIBLE PARTIES. THE SECOND STEP IS FILING OUT THE FORMS 990 AND SEND TO ACCOUNTANT AND DIRECTORS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | THE ORGANIZATION REVIEWED TO COMPATIBILITY DATA FOR COMPENSATION IN LEADERSHIP POSITINS OF SIMILAR ORGANIZATIONS. INTERNAL REVIEWS AND DISCUSSIONS WERE HELD IN ORDER TO EVALUATE OUR POLICIES AND RECOMMENDATIONS MADE BY OFFICERS. AN ANNUAL REVEIW OF COMPENSATION IS IN PLACE |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | POLICY IS REVIEWED ANNUALLY |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 8 | THE ORGANIZATION MAKES IT'S GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND OTHER PROTOCOLS AVAILABLE TO THE PUBLIC UPON REQUEST. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990 - ORGANIZATION'S MISSION |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PAGE 2, PART III, LINE 4D |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PAGE 6, PART VI, LINE 6 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PAGE 6, PART VI, LINE 7A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PAGE 6, PART VI, LINE 7B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PAGE 6, PART VI, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | FORM 990, PAGE 6, PART VI, LINE 15A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 7 | FORM 990, PAGE 6, PART VI, LINE 15B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 8 | FORM 990, PAGE 6, PART VI, LINE 19 |
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| IRS990/SignificantChangeInd | 0 | false |
| IRS990/SignificantNewProgramSrvcInd | 0 | false |
| IRS990/SubjectToExcsTaxNetInvstIncInd | 0 | false |
| IRS990/SubjectToProxyTaxInd | 0 | false |
| IRS990/SubjToTaxRmnrtnExPrchtPymtInd | 0 | false |
| IRS990/TaxablePartyNotificationInd | 0 | false |
| IRS990/TaxExemptBondsInd | 0 | false |
| IRS990/TerminateOperationsInd | 0 | false |
| IRS990/TotalAssetsBOYAmt | 0 | 11635 |
| IRS990/TotalAssetsEOYAmt | 0 | 130236 |
| IRS990/TotalAssetsGrp/BOYAmt | 0 | 11635 |
| IRS990/TotalAssetsGrp/EOYAmt | 0 | 130236 |
| IRS990/TotalCompGreaterThan150KInd | 0 | false |
| IRS990/TotalContributionsAmt | 0 | 62858 |
| IRS990/TotalEmployeeCnt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/FundraisingAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt | 0 | 10720 |
| IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt | 0 | 16319 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 27039 |
| IRS990/TotalGrossUBIAmt | 0 | 4567 |
| IRS990/TotalLiabilitiesEOYAmt | 0 | 22000 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 0 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 22000 |
| IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt | 0 | 11635 |
| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 108236 |
| IRS990/TotalProgramServiceExpensesAmt | 0 | 16319 |
| IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 56215 |
| IRS990/TotalRevenueGrp/TotalRevenueColumnAmt | 0 | 123640 |
| IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt | 0 | 4567 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt | 0 | 11635 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt | 0 | 130236 |
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| IRS990/TypeOfOrganizationCorpInd | 0 | X |
| IRS990/UnrelatedBusIncmOverLimitInd | 0 | true |
| IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt | 0 | 22000 |
| IRS990/USAddress/AddressLine1Txt | 0 | 2444 TIMES BLVD SUITE 236M |
| IRS990/USAddress/AddressLine2Txt | 0 | 2444 TIMES BLVD SUITE 236M |
| IRS990/USAddress/CityNm | 0 | HOUSTON |
| IRS990/USAddress/StateAbbreviationCd | 0 | TX |
| IRS990/USAddress/ZIPCd | 0 | 77005 |
| IRS990/VotingMembersGoverningBodyCnt | 0 | 4 |
| IRS990/VotingMembersIndependentCnt | 0 | 4 |
| IRS990/WebsiteAddressTxt | 0 | WWW.FINEARTSFOUNDATION.COM |
| IRS990/WhistleblowerPolicyInd | 0 | false |
| ReturnHeader/BuildTS | 0 | 2022-09-23 18:48:47Z |
| ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd | 0 | true |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | JAMES P ARNOLD |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | PRESIDENT |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 7135408670 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2021-11-08 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | THE FINE ARTS FOUNDATION |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | FINE |
| ReturnHeader/Filer/EIN | 0 | 760115712 |
| ReturnHeader/Filer/PhoneNum | 0 | 7135233511 |
| ReturnHeader/Filer/USAddress/AddressLine1Txt | 0 | PO BOX 542254 |
| ReturnHeader/Filer/USAddress/CityNm | 0 | HOUSTON |
| ReturnHeader/Filer/USAddress/StateAbbreviationCd | 0 | TX |
| ReturnHeader/Filer/USAddress/ZIPCd | 0 | 77254 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmEIN | 0 | 760696379 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt | 0 | RANDELL M NAQUIN CPA PLLC |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt | 0 | 2511 FOXGLOVE DR |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm | 0 | PEARLAND |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd | 0 | TX |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd | 0 | 77584 |
| ReturnHeader/PreparerPersonGrp/PhoneNum | 0 | 7138180807 |
| ReturnHeader/PreparerPersonGrp/PreparationDt | 0 | 2021-11-08 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | RANDELL M NAQUIN |
| ReturnHeader/ReturnTs | 0 | 2021-11-08T15:41:18-06:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990 |
| ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm | 0 | PHIL |
| ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm | 0 | ARNOLD |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2020-01-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2020-12-31 |
| ReturnHeader/TaxYr | 0 | 2020 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2020 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $130,236
- Liabilities
- $22,000
- Net assets
- $108,236
- Revenue
- $123,640
- Expenses
- $27,039
- Net income
- $96,601