Texas Cultural Trust Council
- Assets
- $6.7m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 13
- Location
- Austin, TX
- Founding
- 01/1997
- Data as of
- 08/2022
- EIN
- 74-2778878
Organization Overview
Texas Cultural Trust Council is located in Austin, TX. The organization was established in 1997. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 08/2022, Texas Cultural Trust Council employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Texas Cultural Trust Council 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 08/2022, Texas Cultural Trust Council generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.3%) each year. All expenses for the organization totaled $1.8m during the year ending 08/2022. As we would expect to see with falling revenues, expenses have declined by (3.2%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PUBLIC ARTS FUNDING
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE DEVELOPMENTAL SERVICES AND SOLICIT CONTRIBUTIONS FROM CORPORATIONS, FOUNDATIONS, AND THE PUBLIC IN ORDER TO INCREASE AWARENESS AND SUPPORT FOR THE ARTS IN TEXAS, IMPROVE THE QUALITY OF PUBLIC EDUCATION AND STIMULATE ECONOMIC GROWTH, AND TO RAISE FUNDS FOR THE TEXAS COMMISSION OF THE ARTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heidi Marquez Smith Executive Director | Officer | 40 | $207,500 |
Leslie Ward Chair | OfficerTrustee | 1 | $0 |
Ray Benson Secretary | OfficerTrustee | 1 | $0 |
Marvin Blum Treasurer | OfficerTrustee | 1 | $0 |
Linda Lamantia Immediate Past Chair | OfficerTrustee | 1 | $0 |
Tania Schwartz Vice Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Resources For Learning Professional Services | 8/30/17 | $291,492 |
Sarver Strategies Llc Consulting | 8/30/17 | $432,729 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $319,200 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $100,627 |
| All other contributions, gifts, grants, and similar amounts not included above | $790,983 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,210,810 |
| Total Program Service Revenue | $192,130 |
| Investment income | $85,822 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,675 |
| Net Income from Fundraising Events | $273,938 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,761,025 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $316,250 |
| Grants and other assistance to domestic individuals. | $15,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $207,500 |
| Compensation of current officers, directors, key employees. | $118,925 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $326,171 |
| Pension plan accruals and contributions | $11,802 |
| Other employee benefits | $40,894 |
| Payroll taxes | $38,336 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $600 |
| Fees for services: Accounting | $36,975 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $38,793 |
| Fees for services: Other | $6,782 |
| Advertising and promotion | $49,534 |
| Office expenses | $27,219 |
| Information technology | $11,820 |
| Royalties | $0 |
| Occupancy | $117,802 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,984 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,950 |
| Insurance | $3,233 |
| All other expenses | $0 |
| Total functional expenses | $1,761,893 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $497,714 |
| Savings and temporary cash investments | $526,763 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $115,084 |
| 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 | $159,168 |
| Net Land, buildings, and equipment | $54,169 |
| Investments—publicly traded securities | $5,331,338 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,778 |
| Total assets | $6,702,014 |
| Accounts payable and accrued expenses | $105,909 |
| Grants payable | $0 |
| Deferred revenue | $837,459 |
| 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 | $943,368 |
| Net assets without donor restrictions | $270,578 |
| Net assets with donor restrictions | $5,488,068 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,702,014 |
Grants Awarded
Over the last fiscal year, Texas Cultural Trust Council has awarded $303,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
TEXAS COMMISSION ON THE ARTS PURPOSE: Art Programs | $297,000 |
THOMAS JEFFERSON HIGH SCHOOL PURPOSE: Art Programs | $6,000 |
Grants Recieved
Over the last fiscal year, we have identified 20 grants that Texas Cultural Trust Council has recieved totaling $591,827.
| Awarding Organization | Amount |
|---|---|
Houston Endowment Inc Houston, TX PURPOSE: PROJECT SUPPORT TOWARD CONTINUING AN INITIATIVE TO EDUCATE THE PUBLIC AND DECISION MAKERS ON THE NECESSITY OF PUBLIC FUNDING FOR THE ARTS AND ARTS EDUCATION | $200,000 |
Austin Community Foundation Austin, TX PURPOSE: CHARITABLE DONATION | $111,450 |
At&t Foundation Dallas, TX PURPOSE: EDUCATION | $100,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $43,272 |
Paso Del Norte Community Foundation El Paso, TX PURPOSE: Donor Advised Grant | $40,000 |
Ch Foundation Lubbock, TX PURPOSE: SUPPORT FOR ART CAN PROJECT | $25,000 |
Endowment Analysis
| Beg. Balance | $5,940,114 |
| Earnings | -$942,243 |
| Ending Balance | $4,997,871 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
San Angelo Area Foundation San Angelo, TX | $221,834,647 | $42,062,458 |
Mercy Ships Foundation Lindale, TX | $100,019,661 | $12,520,932 |
Texas Womens Foundation Dallas, TX | $33,197,240 | $8,443,158 |
Gayle And Tom Benson Charitablefoundation Metairie, LA | $44,526 | $10,673,881 |
The Oscar J Tolmas Charitable Trust Metairie, LA | $58,086,420 | $4,279,649 |
The University Of Texas At Tyler Education Inc Tyler, TX | $0 | $51,128 |
University Of Arkansas Technology Development Foundation Fayetteville, AR | $18,380,736 | $2,093,754 |
Butcher Fund Houston, TX | $0 | $254,062 |
Lensic Performing Arts Center Corporation Santa Fe, NM | $15,012,313 | $4,156,320 |
John R & Greli N Less Charitable Trust San Antonio, TX | $117,218,576 | $120,089,499 |
St Davids Community Health Foundation Initiatives Austin, TX | $27,867,184 | $2,942,176 |
Crow Family Foundation Inc Dallas, TX | $48,525 | $3,503 |