Civic Intelligence

Marfa Invitational

990 • Fiscal year 2023 • EIN 85-2664391

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 12, 2024

Organization ProfileWWW.MARFAINVITATIONAL.COM
PO Box 718Marfa, TX 79843

(512) 298-2898

Siviq Scores

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

Liabilities / Assets

56th percentile

0.03x

Higher debt load relative to assets than 56% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

53rd percentile

0.03x

Higher debt load relative to revenue than 53% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

95th percentile

73%

Higher net margin than 95% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

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

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

99th percentile

1001%

Faster asset growth than 99% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

99th percentile

1344%

Faster revenue growth than 99% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets56th percentile

Assets

$655,817

No earlier filing loaded for comparison.

Net Assets

$633,967

No earlier filing loaded for comparison.

Liabilities

$21,850

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue53rd percentileNet Margin95th percentile

Revenue

$838,690

No earlier filing loaded for comparison.

Expenses

$229,278

No earlier filing loaded for comparison.

Net Income

$609,412

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth99th percentile

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

$800K$600K$400K$200K$0Assets 2023: $655,817Liabilities 2023: $21,850Net Assets 2023: $633,9672023Assets 2024: $651,138Liabilities 2024: $45,730Net Assets 2024: $605,4082024

Highlighted filing

2023

Assets$655,817
Liabilities$21,850
Net Assets$633,967
Open 2023 Filing

Operations Trend

Revenue Growth99th percentile

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

$1.0M$500K$0-$500KRevenue 2023: $838,690Expenses 2023: $229,278Net Income 2023: $609,4122023Revenue 2024: $50,983Expenses 2024: $79,542Net Income 2024: -$28,5592024

Highlighted filing

2023

Revenue$838,690
Expenses$229,278
Net Income$609,412
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 12, 2024
Return Version
2023v5.1
Gross Receipts
$838,690
Mission and Program Overview

Mission

Marfa invitational brings together compelling artists and the general public to the remote destination of marfa, texas, which is perched on the high plains of the chihuahuan desert to celebrate a truly unique singular aesthetic and conceptual immersion among artists, visionaries and the audiences that shape them.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$24,555$633,967▲ $609,412
Land, Buildings, and Equipment, Net$41,609$49,772▲ $8,163
Cash and Non-Interest-Bearing Accounts$17,949$5,735▼ $12,214
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$59,558$655,817▲ $596,259
Other Assets Total$0$600,310▲ $600,310
Liabilities
Accounts Payable and Accrued Expenses$35,003$21,850▼ $13,153
Total Liabilities$35,003$21,850▼ $13,153
Net Assets / Fund Balance
Total Net Assets Fund Balance$24,555$633,967▲ $609,412
Total Liabilities and Net Assets / Fund Balance$59,558$655,817▲ $596,259

Asset Categories

AssetBook ValueDepreciationBasis
Land$39,909-$39,909
Leasehold Improvements$9,863-$9,863
Other Assets Org$600,310--
Compensation and Service Providers
Top Officer Pay54th percentile

Board Members and Trustees

NameTitle
Michael PhelanChair
Abigail BranchSecretary
Melissa BentTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$718,970
Program Service Revenue
$119,720
Investment Income
$0
Other Revenue
$0
All Other Contributions
$718,970
Change in Net Assets
$609,412

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Works of Art2$580,000Appraisal
Total Noncash Contributions2$580,000-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$229,128
Total Fundraising Expense$31,492
Grants and Similar Amounts Paid$150
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Travel$102,447$164$19,732$122,343
Fees for Services Management$12,000$2,000$6,000$20,000
Advertising$19,168--$19,168
Fees for Services Other$16,888$2,000-$18,888
Office Expenses$9,528$3,774$2,735$16,037
Occupancy$8,815$301-$9,116
Fees for Services Accounting-$6,748-$6,748
Conferences and Meetings$3,256$43$2,265$5,564
Fees for Services Legal$200$3,700-$3,900
Information Technology$1,628$1,387$760$3,775
Interest-$2,790-$2,790
Insurance$799--$799
Grants to Domestic Individuals$150--$150
Total Functional Expenses$174,879$22,907$31,492$229,278
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

Form 990, Part VI, Section A, Line 8B

“No committees with the authority to act on behalf of the governing body exist.”

Form 990, Part VI, Section B, Line 11B

“The organization's tax return is prepared by a cpa firm who furnishes a draft of the return to the board chair for approval before filing.”

Form 990, Part VI, Section B, Line 12C

“Each director, officer, and committee member with board-delegated powers shall annually sign a statement that affirms that such person: 1. Has received a copy of the conflicts of interest policy; 2. Has read and understands the policy; 3. Has agreed to comply with the policy; and 4. Understands that the corporation is a charitable corporation and that in order to maintain its federal tax exemption it must engage primarily in activities that accomplish one or more of its tax-exempt purposes. In addition, to ensure the corporation operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic reviews shall be conducted.”

Form 990, Part VI, Section C, Line 19

“Marfa invitational keeps all of the documents at the accounting office and they are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Marfa Invitational
EIN
85-2664391
Phone
5122982898
Address
PO BOX 718, MARFA, TX 79843

Signing Officer

Name
Michael Phelan
Title
Director
Phone
5122982898
Signed
2024-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Phelan
Formed
2021
Legal Domicile
TX
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Lane Gorman Trubitt LLC
Address
2626 HOWELL ST SUITE 700, DALLAS, TX 75204
Preparer
Kevin Warneke
Phone
2148717500
Supplemental Narrative

Financial Statement Notes

PART III, LINE 4:

“In keeping with the pioneering spirit and ethos of the far west, marfa invitational's sculpture park, sited on an expanse of five acres, supports and champions exploration and innovation via the foundation's permanent collection of monumental outdoor works. Marfa invitational's sculputre park includes the transformative works of matt johnson, rana begum, sam falls, ethan cook, charles harlan, and myles nurse.”

Raw XML Appendix359 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/ExplanationTxt0IN KEEPING WITH THE PIONEERING SPIRIT AND ETHOS OF THE FAR WEST, MARFA INVITATIONAL'S SCULPTURE PARK, SITED ON AN EXPANSE OF FIVE ACRES, SUPPORTS AND CHAMPIONS EXPLORATION AND INNOVATION VIA THE FOUNDATION'S PERMANENT COLLECTION OF MONUMENTAL OUTDOOR WORKS. MARFA INVITATIONAL'S SCULPUTRE PARK INCLUDES THE TRANSFORMATIVE WORKS OF MATT JOHNSON, RANA BEGUM, SAM FALLS, ETHAN COOK, CHARLES HARLAN, AND MYLES NURSE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART III, LINE 4:
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IRS990ScheduleM/SupplementalInformationDetail/ExplanationTxt0THE NUMBER OF CONTRIBUTIONS FOR SCHEDULE M IS THE NUMBER OF CONTRIBUTIONS MADE.
IRS990ScheduleM/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, COLUMN (B):
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY EXIST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S TAX RETURN IS PREPARED BY A CPA FIRM WHO FURNISHES A DRAFT OF THE RETURN TO THE BOARD CHAIR FOR APPROVAL BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH DIRECTOR, OFFICER, AND COMMITTEE MEMBER WITH BOARD-DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT THAT AFFIRMS THAT SUCH PERSON: 1. HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY; 2. HAS READ AND UNDERSTANDS THE POLICY; 3. HAS AGREED TO COMPLY WITH THE POLICY; AND 4. UNDERSTANDS THAT THE CORPORATION IS A CHARITABLE CORPORATION AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES THAT ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. IN ADDITION, TO ENSURE THE CORPORATION OPERATES IN A MANNER CONSISTENT WITH CHARITABLE PURPOSES AND DOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS TAX-EXEMPT STATUS, PERIODIC REVIEWS SHALL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MARFA INVITATIONAL KEEPS ALL OF THE DOCUMENTS AT THE ACCOUNTING OFFICE AND THEY ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt059558
IRS990/TotalAssetsEOYAmt0655817
IRS990/TotalAssetsGrp/BOYAmt059558
IRS990/TotalAssetsGrp/EOYAmt0655817
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0718970
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt031492
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt022907
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0174879
IRS990/TotalFunctionalExpensesGrp/TotalAmt0229278
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt035003
IRS990/TotalLiabilitiesEOYAmt021850
IRS990/TotalLiabilitiesGrp/BOYAmt035003
IRS990/TotalLiabilitiesGrp/EOYAmt021850
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt024555
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0633967
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0174879
IRS990/TotalProgramServiceRevenueAmt0119720
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0119720
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0838690
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt03
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt059558
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0655817
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/FundraisingAmt019732
IRS990/TravelGrp/ManagementAndGeneralAmt0164
IRS990/TravelGrp/ProgramServicesAmt0102447
IRS990/TravelGrp/TotalAmt0122343
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 718
IRS990/USAddress/CityNm0MARFA
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd079843
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.MARFAINVITATIONAL.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL PHELAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum05122982898
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MARFA INVITATIONAL
ReturnHeader/Filer/BusinessNameControlTxt0MARF
ReturnHeader/Filer/EIN0852664391
ReturnHeader/Filer/PhoneNum05122982898
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 718
ReturnHeader/Filer/USAddress/CityNm0MARFA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd079843
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0751044330
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LANE GORMAN TRUBITT LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02626 HOWELL ST SUITE 700
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DALLAS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd075204
ReturnHeader/PreparerPersonGrp/PhoneNum02148717500
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KEVIN WARNEKE
ReturnHeader/ReturnTs02024-11-15T11:22:42-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$655,817
Liabilities
$21,850
Net assets
$633,967
Revenue
$838,690
Expenses
$229,278
Net income
$609,412
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.51$0.46$6.05$0.51$0.80$0.29
2023Detailed filing. Detailed filing data is available for this year.$6.56$0.22$6.34$8.39$2.29$6.09