Cullen Trust For The Performing Arts
- Assets
- $99.4m
- Revenue
- $18.7m
- Investments
- $10.0m
- Employees
- 0
- Location
- Houston, TX
- Founding
- 09/1979
- Data as of
- 12/2022
- EIN
- 74-2060976
Organization Overview
Cullen Trust For The Performing Arts is located in Houston, TX. The organization was established in 1979. According to its NTEE Classification (A12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cullen Trust For The Performing Arts is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Cullen Trust For The Performing Arts generated $18.7m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 12.4% each year . All expenses for the organization totaled $4.1m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Cullen Trust For The Performing Arts has awarded 169 individual grants totaling $16,543,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE CULLEN TRUST FOR THE PERFORMING ARTS (CTPA) OPERATES FOR THE BENEFIT OF PERFORMING ARTS INSTITUTIONS WITHIN THE STATE OF TEXAS, PRIMARILY WITH RESPECT TO SUCH INSTITUTIONS WITHIN THE GREATER METROPOLITAN HOUSTON AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CULLEN TRUST FOR THE PERFORMING ARTS IS A PUBLIC CHARITABLE TRUST CREATED AS A SUPPORTING ORGANIZATION FOR THE BENEFIT OF PERFORMING ARTS INSTITUTIONS IN THE STATE OF TEXAS, PRIMARILY FOR INSTITUTIONS IN THE GREATER METROPOLITAN HOUSTON AREA. THE TRUST AGREEMENT GOVERNING THE CULLEN TRUST FOR THE PERFORMING ARTS PROVIDES THAT EACH OF THE BENEFICIARIES MUST BE AN ORGANIZATION THAT IS DESCRIBED IN SECTION 501(C)(3) AND IS OTHER THAN A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A). IN THIS FORM 990 ALL SECTION REFERENCES ARE TO SECTIONS OF THE INTERNAL REVENUE CODE UNLESS OTHERWISE NOTED. AS A MATTER OF POLICY, THE TRUST DOES NOT MAKE GRANTS TO ORGANIZATIONS THAT ARE SUPPORTING ORGANIZATIONS WITHIN THE MEANING OF SECTION 509(A)(3).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cornelia Zilkha Chair | OfficerTrustee | 1 | $0 |
Carroll R Ray Vice Chair | OfficerTrustee | 1 | $0 |
Louisa Sarofim Secretary | OfficerTrustee | 1 | $0 |
Daniel Zilkha Treasurer As Of November 2022 | OfficerTrustee | 1 | $0 |
Micajah Stude Treasurer Thru November 2022 | Trustee | 1 | $0 |
Cornelia C Long Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ubs Financial Services Investment Management/custodian | 12/30/22 | $393,949 |
Fayez Sarofim & Co Investment Management | 12/30/22 | $377,357 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $3,571,994 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $15,149,501 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,721,495 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,275,500 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $24,800 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,785 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $603,264 |
| Fees for services: Other | $168,042 |
| Advertising and promotion | $0 |
| Office expenses | $696 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $4,092,087 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $89,362,539 |
| Investments—other securities | $10,001,276 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $99,363,815 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $95,404,548 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $3,959,267 |
| Total liabilities and net assets/fund balances | $99,363,815 |
Grants Awarded
Over the last fiscal year, Cullen Trust For The Performing Arts has awarded $3,245,500 in support to 39 organizations.
| Grant Recipient | Amount |
|---|---|
4TH WALL THEATRE COMPANY PURPOSE: Operating support | $22,500 |
ALLEY THEATRE PURPOSE: Operating support | $700,000 |
AMERICAN FESTIVAL FOR THE ARTS PURPOSE: Operating support | $15,000 |
APOLLO CHAMBER PLAYERS PURPOSE: Operating support | $15,000 |
ASIA SOCIETY TEXAS CENTER PURPOSE: Operating support | $10,000 |
ARS LYRICA HOUSTON PURPOSE: Operating support | $15,000 |