Edison Arts Foundation INC

Tax-deductible

Missouri City, TX501(c)(3)Arts & CultureEIN 46-3452623

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The Edison Arts Foundation is a 501(c)(3) non-profit fine Arts organization, established for the educational and charitable purpose of producing and developing cultural and performing Arts programs for children, adults, and families throughout the community.

501(c)(3) charity; gifts are tax-deductible.
97¢ of each $1 spent went to programs.
Run by 17 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $1.0M a year · 67% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 8.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $112K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$8.5M
60% of total assets
Fine: liabilities are 60% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.6M
+69% vs prior year
Spent
$750K
To programs
97%
Net assets
$5.6M
By yearFY2020–FY2024
Revenue
$1.6M
FY2024▲ +69%
Revenue by fiscal year
FY2020$81K
FY2021$1.3M
FY2022$3.8M
FY2023$961K
FY2024$1.6M
Expenses
$750K
FY2024▲ +18%
Expenses by fiscal year
FY2020$45K
FY2021$443K
FY2022$667K
FY2023$634K
FY2024$750K
Net assets
$5.6M
FY2024▲ +18%
Net assets by fiscal year
FY2020$444K
FY2021$1.3M
FY2022$4.4M
FY2023$4.7M
FY2024$5.6M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Exemption reinstated (2016-01-15). Per the IRS revocation list. Latest filing on record: FY2024. IRS ruling in May 2016.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $728K Management & general 3% · $22K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

12 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Edison Arts Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Produces and develops cultural and performing arts programs for all ages.

Provided by the organization

This section is blank until Edison Arts Foundation INC claims this page.

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1 program service account for $726K of program spending, described in the organization's own filed words · FY2024.
01

The edison arts foundation is a 501(c)(3) non-profit fine arts organization, established for the educational and charitable purpose of producing and developing cultural and performing arts programs for children, adults, and families throughout the community.

$726Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Evolve HoustonFY2023$12K
Total grants receivedfrom 2 funders$112K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.6M
Ln 12
Gifts and grantsLn 1h$1.3M
Fees for servicesLn 2g$252K
Investment incomeLn 3$42K
Money outPt IX
$750K
Ln 25
Programscol B$728K
Managementcol C$22K
Owns and owesPt X
$5.6M
net assets · Ln 32
Cash and savingsLn 1–2$505K
Total assetsLn 16$14.1M
LiabilitiesLn 26$8.5M
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.3M
Fees for servicesLn 2g$252K
Investment incomeLn 3$42K
Total revenueLn 12$1.6M
Assets in detailPt X, end of year
CashLn 1$505K
Cash and savings togetherLn 1–2$505K
Land, buildings, equipmentLn 10c$10.5M
Other assetsLn 15$1.5M
Total assetsLn 16$14.1M
LiabilitiesLn 26$8.5M
Net assetsLn 32$5.6M
OperationsPt I, VI
EmployeesI 50
VolunteersI 617
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$3.1M$505K
Land, buildings, equipmentLn 10c$4.3M$10.5M
Total assetsLn 16$10.5M$14.1M
LiabilitiesLn 26$5.7M$8.5M
Net assetsLn 32$4.7M$5.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$259$259
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$28K$14K$14K
Other fees for servicesLn 11g$280K$272K$8K
Advertising and promotionLn 12$9K$9K
Office expensesLn 13$14K$14K
Information technologyLn 14$5K$5K
OccupancyLn 16$55K$55K
TravelLn 17$2K$2K
InterestLn 20$114K$114K
Depreciation, depletion and amortizationLn 22$2K$2K
InsuranceLn 23$9K$9K
Other expenses (24a–d)Ln 24$177K$177K
All other expensesLn 24e$52K$52K
Total functional expensesLn 25$750K$728K$22K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.6M$750K$872K$5.6M 990 PDF
FY2023 $961K$634K$327K$4.7M 990 PDF
FY2022 $3.8M$667K$3.1M$4.4M 990 PDF
FY2021 $1.3M$443K$873K$1.3M 990 PDF
FY2020 $81K$45K$36K$444K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $1,622,491 across 5 lines filed
VIII-1f All other contributions, gifts and grants$1,328,850
VIII-1h Total contributions, gifts and grants$1,328,850
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $252,058$252,058
VIII-3 Investment incomeExcluded from tax $41,583$41,583
VIII-12 Total revenueRelated to mission $252,058 · Excluded from tax $41,583$1,622,491
Part IX · Statement of functional expenses $750,223 across 14 lines filed
IX-1 Grants to domestic organizationsPrograms $259$259
IX-11b Legal feesPrograms $2,000$2,000
IX-11c Accounting feesPrograms $14,024 · Management $14,025$28,049
IX-11g Other fees for servicesPrograms $272,427 · Management $7,956$280,383
IX-12 Advertising and promotionPrograms $8,804$8,804
IX-13 Office expensesPrograms $14,348$14,348
IX-14 Information technologyPrograms $4,706$4,706
IX-16 OccupancyPrograms $55,038$55,038
IX-17 TravelPrograms $1,531$1,531
IX-20 InterestPrograms $114,413$114,413
IX-22 Depreciation, depletion and amortizationPrograms $2,412$2,412
IX-23 InsurancePrograms $9,321$9,321
IX-24 Other expenses (24a–d)Programs $176,521$176,521
IX-24e All other expensesPrograms $52,438$52,438
IX-25 Total functional expensesPrograms $728,242 · Management $21,981 · Fundraising $0$750,223
Part X · Balance sheet $14,137,300 assets, 11 lines filed
Asset lines not itemized here account for $1,680,494; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $3,063,716$505,264
X-10c Land, buildings and equipment, netStart of year $4,256,414$10,455,741
X-15 Other assetsStart of year $128,319$1,495,801
X-16 Total assetsStart of year $10,478,943$14,137,300
X-18 Grants payableStart of year $5,000,000$5,000,000
X-24 Unsecured notes and loans payableStart of year $416,466$3,202,555
X-26 Total liabilitiesStart of year $5,742,023$8,528,112
X-27 Net assets without donor restrictionsStart of year $254,455−$177,107
X-28 Net assets with donor restrictionsStart of year $4,482,465$5,786,295
X-32 Total net assets or fund balancesStart of year $4,736,920$5,609,188
X-33 Total liabilities and net assetsStart of year $10,478,943$14,137,300
Part XI · Reconciliation of net assets $5,609,188 net assets at year end
XI-1 Total revenue$1,622,491
XI-2 Total expenses$750,223
XI-3 Revenue less expenses$872,268
XI-4 Net assets at start of year$4,736,920
XI-10 Net assets at end of year$5,609,188

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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