Civic Intelligence

Glade Arts Foundation

990 • Fiscal year 2018 • EIN 82-1089324

Jan 01, 2018 to Dec 31, 2018 • Filed on Mar 06, 2020

Organization Profilegladeartsfoundation.org
2000 Woodlands ParkwayThe Woodlands, TX 77380

(832) 557-8781

Siviq Scores

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

Liabilities / Assets

94th percentile

1.05x

Higher debt load relative to assets than 94% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

93rd percentile

1.75x

Higher debt load relative to revenue than 93% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

9th percentile

-35%

Higher net margin than 9% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

98th percentile

305%

Faster asset growth than 98% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

97th percentile

241%

Faster revenue growth than 97% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$577,317

Up $434,800 (+305%) from 2017

Net Assets

Down

-$30,485

Down $121,690 (-133%) from 2017

Liabilities

Up

$607,802

Up $556,490 (+1085%) from 2017

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin9th percentile

Revenue

Up

$347,806

Up $245,806 (+241%) from 2017

Expenses

Up

$469,496

Up $458,701 (+4249%) from 2017

Net Income

Down

-$121,690

Down $212,895 (-233%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$1.0M$500K$0-$500KAssets 2017: $142,517Liabilities 2017: $51,312Net Assets 2017: $91,2052017Assets 2018: $577,317Liabilities 2018: $607,802Net Assets 2018: -$30,4852018Assets 2019: $503,624Liabilities 2019: $795,765Net Assets 2019: -$292,1412019Assets 2020: $448,898Liabilities 2020: $509,630Net Assets 2020: -$60,7322020Assets 2021: $457,817Liabilities 2021: $355,767Net Assets 2021: $102,0502021

Highlighted filing

2018

Assets$577,317
Liabilities$607,802
Net Assets-$30,485
Open 2018 Filing

Operations Trend

Revenue Growth97th percentile

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

$600K$400K$200K$0-$200K-$400KRevenue 2017: $102,000Expenses 2017: $10,795Net Income 2017: $91,2052017Revenue 2018: $347,806Expenses 2018: $469,496Net Income 2018: -$121,6902018Revenue 2019: $166,216Expenses 2019: $427,872Net Income 2019: -$261,6562019Revenue 2020: $51,149Expenses 2020: $146,125Net Income 2020: -$94,9762020Revenue 2021: $260,313Expenses 2021: $107,802Net Income 2021: $152,5112021

Highlighted filing

2018

Revenue$347,806
Expenses$469,496
Net Income-$121,690
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Mar 6, 2020
Return Version
2018v3.1
Gross Receipts
$347,806
Mission and Program Overview

Mission

Providing a unique and accessible fine arts experience with programs focused on art, education, scholarships, community based public art projects and curated museum-like exhibit center showcasing local and international artists and acclaimed private and public art collections.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$51,301$487,697▲ $436,396
Loans From Officers Directors-$50,000-
Cash and Non-Interest-Bearing Accounts$54,590$29,027▼ $25,563
Prepaid Expenses and Deferred Charges$27,334$0▼ $27,334
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-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$193,818$577,317▲ $383,499
Other Assets Total$60,593$60,593→ $0
Liabilities
Other Liabilities$51,301$401,412▲ $350,111
Unsecured Notes Loans Payable$51,301$153,900▲ $102,599
Accounts Payable and Accrued Expenses$11$2,490▲ $2,479
Total Liabilities$102,613$607,802▲ $505,189
Net Assets / Fund Balance
Temporarily Rstr Net Assets-$1,475-
Unrestricted Net Assets$91,205$-31,960▼ $123,165
Total Net Assets Fund Balance$91,205$-30,485▼ $121,690
Total Liabilities and Net Assets / Fund Balance$193,818$577,317▲ $383,499

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$467,848$33,418$501,266
Other Land Buildings$19,849$3,618$23,467
Other Assets Org$60,593--
Compensation and Service Providers
Top Officer Pay50th percentile

Board Members and Trustees

NameTitle
Lisa HarraChairman
Dragos TapuVice President
Timothy DunawayVice President
Alex BunchDirector
Jennifer BruseDirector
Jo Lynne BeverlyDirector
Cynthia Reid-
Revenue and Support

Revenue Composition

Contributions and Grants
$325,370
Program Service Revenue
$22,436
Investment Income
$0
Other Revenue
$0
All Other Contributions
$325,370
Change in Net Assets
$-121,690
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$401,783
Salaries, Compensation, and Employee Benefits$41,445
Grants and Similar Amounts Paid$26,268
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy-$155,033-$155,033
Fees for Services Other$94,039$5,620-$99,659
Other Salaries and Wages-$38,500-$38,500
Depreciation Depletion-$37,036-$37,036
Office Expenses-$34,552-$34,552
Grants to Domestic Individuals$26,268--$26,268
Fees for Services Legal-$21,210-$21,210
Insurance-$7,498-$7,498
Advertising-$3,689-$3,689
Fees for Services Accounting-$3,253-$3,253
Payroll Taxes-$2,945-$2,945
Other Expenses$4,554$1,369-$1,369
All Other Expenses-$794-$794
Total Functional Expenses$157,997$311,499$0$469,496
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
Loans from Officers, Directors, Trustees, and Key Employees-$50,000-
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred L/H Liab$429,263
Deferred L/H-Accum Amort$-28,618
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

“Dragos Tapu is married to Lisa Harra.”

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

“No review was or will be conducted.”

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

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Glade Arts Foundation
EIN
82-1089324
Phone
8325578781
Address
2000 Woodlands Parkway, The Woodlands, TX 77380

Signing Officer

Name
Dragos Tapu
Title
President
Signed
2020-03-06
Discuss with paid preparer
Yes

Organization Details

Formed
2017
Legal Domicile
TX
Voting Board Members
6
Independent Board Members
0
Employees
0

Preparer

Firm
Peerless CFO Services LLC
Address
26010 Oak Ridge Dr Suite 103, Spring, TX 77380
Preparer
Janet Long
Phone
2814664670
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0102000
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IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt0767
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0467848
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt033418
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0501266
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt060593
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Security Deposit
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt019849
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt03618
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt023467
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0429263
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1-28618
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Deferred L/H Liab
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Deferred L/H-Accum Amort
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0487697
IRS990ScheduleD/TotalBookValueOtherAssetsAmt060593
IRS990ScheduleD/TotalLiabilityAmt0401412
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Dragos Tapu is married to Lisa Harra.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
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IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-31960
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IRS990/USAddress/AddressLine1Txt02000 Woodlands Parkway
IRS990/USAddress/CityNm0The Woodlands
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd077380
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0https://gladeartsfoundation.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Dragos Tapu
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-03-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Glade Arts Foundation
ReturnHeader/Filer/BusinessNameControlTxt0GLAD

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$577,317
Liabilities
$607,802
Net assets
-$30,485
Revenue
$347,806
Expenses
$469,496
Net income
-$121,690
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Detailed filing. Detailed filing data is available for this year.$4.58$3.56$1.02$2.60$1.08$1.53
2020Detailed filing. Detailed filing data is available for this year.$4.49$5.10$0.61$0.51$1.46$0.95
2019Detailed filing. Detailed filing data is available for this year.$5.04$7.96$2.92$1.66$4.28$2.62
2018Detailed filing. Detailed filing data is available for this year.$5.77$6.08$0.30$3.48$4.69$1.22
2017Detailed filing. Detailed filing data is available for this year.$1.43$0.51$0.91$1.02$0.11$0.91