Civic Intelligence

Glade Arts Foundation

990 • Fiscal year 2020 • EIN 82-1089324

Jan 01, 2020 to Dec 31, 2020 • Filed on Aug 11, 2022

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

95th percentile

1.14x

Higher debt load relative to assets than 95% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

99th percentile

9.96x

Higher debt load relative to revenue than 99% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

5th percentile

-186%

Higher net margin than 5% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

26th percentile

-11%

Faster asset growth than 26% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

13th percentile

-69%

Faster revenue growth than 13% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$448,898

Down $54,726 (-11%) from 2019

Net Assets

Up

-$60,732

Up $231,409 (+79%) from 2019

Liabilities

Down

$509,630

Down $286,135 (-36%) from 2019

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin5th percentile

Revenue

Down

$51,149

Down $115,067 (-69%) from 2019

Expenses

Down

$146,125

Down $281,747 (-66%) from 2019

Net Income

Up

-$94,976

Up $166,680 (+64%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth26th 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

2020

Assets$448,898
Liabilities$509,630
Net Assets-$60,732
Open 2020 Filing

Operations Trend

Revenue Growth13th 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

2020

Revenue$51,149
Expenses$146,125
Net Income-$94,976
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Aug 11, 2022
Return Version
2020v4.0
Gross Receipts
$51,149
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$442,210$386,724▼ $55,486
Cash and Non-Interest-Bearing Accounts$821$1,581▲ $760
Total Assets$503,624$448,898▼ $54,726
Other Assets Total$60,593$60,593→ $0
Liabilities
Other Liabilities$358,100$380,874▲ $22,774
Unsecured Notes Loans Payable$418,253$108,470▼ $309,783
Accounts Payable and Accrued Expenses$19,412$20,286▲ $874
Total Liabilities$795,765$509,630▼ $286,135
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-292,141$-60,732▲ $231,409
Total Net Assets Fund Balance$-292,141$-60,732▲ $231,409
Total Liabilities and Net Assets / Fund Balance$503,624$448,898▼ $54,726

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$386,724$148,009$534,733
Other Assets Org$60,593--
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Lisa HarraChairman
Alex BunchDirector
Jennifer BruseDirector
Jo Lynne BeverlyDirector
Dragos TapuVice Preside
Timothy DunawayVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$49,822
Program Service Revenue
$1,327
Investment Income
$0
Other Revenue
$0
All Other Contributions
$48,822
Change in Net Assets
$-94,976
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$146,125
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion-$55,821-$55,821
Occupancy-$31,264-$31,264
Fees for Services Other$21,935$6,251-$28,186
Office Expenses-$11,355-$11,355
Fees for Services Accounting-$3,830-$3,830
Insurance-$2,708-$2,708
Other Expenses$1,976$1,960-$1,960
Advertising-$128-$128
All Other Expenses-$17-$17
Total Functional Expenses$32,791$113,334$0$146,125
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred L/h Liability$314,793
Sba Loan Payable$65,700
Payroll Liabilities$381
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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
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, Page 6, Part VI, Line 2

“Dragos tapu lisa harra vp director married”

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“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
Vice President
Phone
8325578781
Signed
2022-08-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dragos Tapu
Formed
2017
Legal Domicile
TX
Voting Board Members
2
Independent Board Members
0
Employees
0

Preparer

Firm
Peerless CFO Services
Address
26010 OAK RIDGE DR STE 103, SPRING, TX 77380
Preparer
Janet Long CPA
Phone
2814664670
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S 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.”

Form 990, Part IX, Line 11G

“Bank fees 0 6,251 0 contractors 21,005 0 0 equipment rental 930 0 0 total 21,935 6,251 0”

Form 990, Part XI, Line 9

“Book / tax depreciation difference 334 write off payables 326,281 total 326,615”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PROVIDING 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DRAGOS TAPU LISA HARRA VP DIRECTOR MARRIED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BANK FEES 0 6,251 0 CONTRACTORS 21,005 0 0 EQUIPMENT RENTAL 930 0 0 TOTAL 21,935 6,251 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5BOOK / TAX DEPRECIATION DIFFERENCE 334 WRITE OFF PAYABLES 326,281 TOTAL 326,615
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01327
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt051149
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IRS990/USAddress/CityNm0THE WOODLANDS
IRS990/USAddress/StateAbbreviationCd0TX
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IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0HTTPS://GLADEARTSFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DRAGOS TAPU
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VICE PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08325578781
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-08-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GLADE ARTS FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0GLAD
ReturnHeader/Filer/EIN0821089324
ReturnHeader/Filer/PhoneNum08325578781
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt026010 OAK RIDGE DR STE 103
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SPRING
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd077380
ReturnHeader/PreparerPersonGrp/PhoneNum02814664670
ReturnHeader/PreparerPersonGrp/PreparationDt02022-08-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JANET LONG CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02022-08-15T17:02:25-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DRAGOS
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0TAPU
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$448,898
Liabilities
$509,630
Net assets
-$60,732
Revenue
$51,149
Expenses
$146,125
Net income
-$94,976
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