Civic Intelligence

Ovation Academy of Performing Arts

990 • Fiscal year 2020 • EIN 82-5263677

Aug 01, 2019 to Jul 31, 2020 • Filed on Jun 10, 2021

804 W Louisiana StMc Kinney, TX 75069

(469) 669-3082

Siviq Scores

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

Liabilities / Assets

55th percentile

0.00x

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

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

Liabilities / Revenue

55th percentile

0.00x

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

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

Net Margin

59th percentile

11%

Higher net margin than 59% of similar nonprofits.

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

Top Officer Pay

84th percentile

$22,998

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 6.9% of source-year revenue.

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

Asset Growth

91st percentile

140%

Faster asset growth than 91% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2020

Revenue Growth

99th percentile

514%

Faster revenue growth than 99% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2020

Assets

$45,178

No earlier filing loaded for comparison.

Net Assets

$45,178

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue

$334,703

No earlier filing loaded for comparison.

Expenses

$297,875

No earlier filing loaded for comparison.

Net Income

$36,828

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$60K$40K$20K$0-$20KAssets 2020: $45,178Liabilities 2020: $0Net Assets 2020: $45,1782020Assets 2021: $32,203Liabilities 2021: $38,088Net Assets 2021: -$5,8852021

Highlighted filing

2020

Assets$45,178
Liabilities$0
Net Assets$45,178

Operations Trend

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

$400K$300K$200K$100K$0-$100KRevenue 2020: $334,703Expenses 2020: $297,875Net Income 2020: $36,8282020Revenue 2021: $301,490Expenses 2021: $312,969Net Income 2021: -$11,4792021

Highlighted filing

2020

Revenue$334,703
Expenses$297,875
Net Income$36,828
Jump To
Filing Snapshot
Filing Period
Aug 1, 2019 to Jul 31, 2020
Signed
Jun 10, 2021
Return Version
2019v5.1
Gross Receipts
$334,703
Mission and Program Overview

Mission

Ovation academy was founded to provide a home for performers to pursue their passion of the arts through professional style training which provides the technique, life-skills, experiences, and connections necessary to succeed in the industry. Ovation academy strives to produce knowledgable, respectful, empathetic, and impactful artists who will positively contribute to their communities and the performing arts industry.

The studio provides a place for performers to pursue their passion of the arts through professional style training in technique, life-skills, experiences, and the connections necessary to succeed in the arts industry.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$17,565$45,178▲ $27,613
Accounts Receivable$10,222$28,989▲ $18,767
Cash and Non-Interest-Bearing Accounts$5,654$12,051▲ $6,397
Land, Buildings, and Equipment, Net$1,789$4,138▲ $2,349
Rtn Earn Endowment Incm Other Fnds-$0-
Total Assets$17,665$45,178▲ $27,513
Liabilities
Accounts Payable and Accrued Expenses$100$0▼ $100
Total Liabilities$100$0▼ $100
Net Assets / Fund Balance
Total Net Assets Fund Balance$17,565$45,178▲ $27,613
Total Liabilities and Net Assets / Fund Balance$17,665$45,178▲ $27,513

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$0--
Other Land Buildings$0--
Land$0--
Equipment$976--
Leasehold Improvements$3,162--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020----$0
2019----$0
2018----$0
2017----$0
2016----$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Angi BurnsPresident & Executive DirectorFT$22,998$22,998

Board Members and Trustees

NameTitle
Wendy McintyreVice President
Amy LaceyDirector
Ana GonzalezDirector
Dr Aaron AdairDirector
Lacey CombsDirector
Angela Crone PmpTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$153,207
Program Service Revenue
$181,496
Investment Income
$0
Other Revenue
$0
All Other Contributions
$153,207
Change in Net Assets
$36,828

Audited Revenue Reconciliation

Revenue per Audited Statements
$0
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Form 990
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$274,877
Salaries, Compensation, and Employee Benefits$22,998
Total Fundraising Expense$6,281
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$166,920$4,359-$171,279
Occupancy$69,012$7,668-$76,680
Current Officers, Directors, Trustees, and Key Employees$5,749$17,249-$22,998
Advertising$6,200-$6,281$12,481
Office Expenses$8,709$968-$9,677
Insurance$3,033$337-$3,370
Fees for Services Accounting-$1,162-$1,162
Interest$228--$228
Total Functional Expenses$259,851$31,743$6,281$297,875

Audited Expense Reconciliation

Line ItemAmount
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Expenses per Audited Statements$0
Total Expenses per Form 990$0
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
Governance and Compliance

Governance Checklist

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

Governance Explanations

Part VI

990 is reviewed by the officer signing the form

Part VI, Line 12(C)

Conflicts of interest are reviewed and monitored by the board of directors

Part VI, Line 15

Compensation is determined by the board of directors

Part VI, Line 19

To the extent not otherwise provided in the 990, the items are available upon request

Filing and Contact Details

Filer

Filer Name
Ovation Academy
EIN
82-5263677
Phone
4696693082
Address
804 W LOUISIANA ST, Mc Kinney, TX 75069

Signing Officer

Name
Angi Burns
Title
President
Signed
2021-06-10

Organization Details

Formed
2018
Legal Domicile
TX
Voting Board Members
6
Independent Board Members
5
Employees
0
Volunteers
20

Preparer

Firm
Stock and Company
Address
14675 N Dallas Pkwy Ste 575, Dallas, TX 75254
Preparer
Walter Stock
Phone
2145502862
Supplemental Narrative

Additional Explanations

Part IX, Line 24

OTHER EXPENSES

Expense

Total program services management fundraising

Bad Debt

1,650 1,650

Bank and Merchant Service Fees

4,076 4,076

Car and Truck

463 463

Contract Labor

95,170 95,170

Convention Fees

9,616 9,616

Dues and Subscriptions

396 396

Equipment Rentals

4,424 4,424

Job Supplies

8,580 8,580

Meals and Entertainment

222 222

Permits and Licensing

5,188 5,188

Printing and Shipping

1,918 1,857 61

Repairs and Maintenance

23,875 23,875

Utilities

15,701 15,701

TOTAL:

171,279 166,920 4,359

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IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt00
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt00
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt00
IRS990ScheduleD/EndingBalanceAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt0976
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0976
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt00
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt03162
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt03162
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt00
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04138
IRS990ScheduleD/TotalBookValueOtherAssetsAmt00
IRS990ScheduleD/TotalBookValueProgramRltdAmt00
IRS990ScheduleD/TotalBookValueSecuritiesAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt00
IRS990ScheduleD/TotalLiabilityAmt00
IRS990ScheduleD/TotalRevenuePerForm990Amt00
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0990 IS REVIEWED BY THE OFFICER SIGNING THE FORM
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CONFLICTS OF INTEREST ARE REVIEWED AND MONITORED BY THE BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3TO THE EXTENT NOT OTHERWISE PROVIDED IN THE 990, THE ITEMS ARE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4OTHER EXPENSES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5TOTAL PROGRAM SERVICES MANAGEMENT FUNDRAISING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt61,650 1,650
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt74,076 4,076
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8463 463
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt995,170 95,170
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt109,616 9,616
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11396 396
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt124,424 4,424
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt138,580 8,580
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt14222 222
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt155,188 5,188
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt161,918 1,857 61
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1723,875 23,875
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1815,701 15,701
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt19171,279 166,920 4,359
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0PART VI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1PART VI, LINE 12(C)
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2PART VI, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4PART IX, LINE 24
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5EXPENSE
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6BAD DEBT
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7BANK AND MERCHANT SERVICE FEES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8CAR AND TRUCK
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9CONTRACT LABOR
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10CONVENTION FEES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc11DUES AND SUBSCRIPTIONS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc12EQUIPMENT RENTALS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc13JOB SUPPLIES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc14MEALS AND ENTERTAINMENT
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc15PERMITS AND LICENSING
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc16PRINTING AND SHIPPING
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc17REPAIRS AND MAINTENANCE
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc18UTILITIES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc19TOTAL:
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt017665
IRS990/TotalAssetsEOYAmt045178
IRS990/TotalAssetsGrp/BOYAmt017665
IRS990/TotalAssetsGrp/EOYAmt045178
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0153207
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt06281
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt031743
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0259851
IRS990/TotalFunctionalExpensesGrp/TotalAmt0297875
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0100
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt0100
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt017565
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt045178

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