L H Underwood Ctr For The Arts Talking Endowment For Operations
- Assets
- $5.1m
- Revenue
- $468.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Lubbock, TX
- Founding
- 11/2005
- Data as of
- 09/2021
- EIN
- 20-3131656
Organization Overview
L H Underwood Ctr For The Arts Talking Endowment For Operations is located in Lubbock, TX. The organization was established in 2005. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, 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. L H Underwood Ctr For The Arts Talking Endowment For Operations 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 09/2021, L H Underwood Ctr For The Arts Talking Endowment For Operations generated $468.6k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.8% each year . All expenses for the organization totaled $229.7k during the year ending 09/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ESTABLISH, IN PERPETUITY, AN ENDOWMENT FOR THE LOUISE HOPKINS UNDERWOOD CENTER FOR THE ARTS. ALL DISTRIBUTIONS WILL BE FOR THE PURPOSE OF SUSTAINING THE OPERATIONS OF THE LOUISE HOPKINS UNDERWOOD CENTER FOR THE ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATIONAL SUPPORT OF THE LOUISE HOPKINS UNDERWOOD CENTER FOR THE ARTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ryan Henry President | OfficerTrustee | 1 | $0 |
Brad Green Treasurer | OfficerTrustee | 0.5 | $0 |
Alan Henry Trustee | Trustee | 0.5 | $0 |
Phillip Littlejohn Trustee | Trustee | 0.5 | $0 |
Chase Key Trustee | Trustee | 0.5 | $0 |
Arlene Matthews Trustee | Trustee | 0.5 | $0 |
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 | $116,338 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $352,253 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $468,591 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $189,255 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $40,111 |
| Fees for services: Other | $378 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $229,744 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $179,466 |
| 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 | $4,890,546 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,070,012 |
| 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 | $5,070,012 |
| Net assets with donor restrictions | $0 |
| 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 | $5,070,012 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that L H Underwood Ctr For The Arts Talking Endowment For Operations has recieved totaling $8,160.
| Awarding Organization | Amount |
|---|---|
Dallas Foundation A Tx Nonprofit Corporation Dallas, TX PURPOSE: GENERAL SUPPORT | $8,160 |
Endowment Analysis
| Beg. Balance | $4,451,070 |
| Earnings | $848,686 |
| Admin Expense | $40,489 |
| Grants | $189,255 |
| Ending Balance | $5,070,012 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arkansas Museum Of Fine Arts Foundation Little Rock, AR | $93,043,643 | $19,970,442 |
Houston Public Media Foundation Houston, TX | $3,722,035 | $15,443,011 |
World War Ii Theatre Inc New Orleans, LA | $71,080,444 | $7,985,731 |
Dallas Symphony Foundation Dallas, TX | $145,117,113 | $12,980,267 |
Fort Worth Art Association Endowment Foundation Fort Worth, TX | $167,745,649 | $12,496,724 |
Oklahoma City National Memorial Foundation Oklahoma City, OK | $43,932,179 | $4,892,726 |
The Hobby Center Foundation Houston, TX | $78,248,185 | $8,249,942 |
Friends Of Oeta Inc Oklahoma City, OK | $52,803,812 | $14,188,991 |
Admiral Nimitz Foundation Fredericksburg, TX | $24,328,747 | $7,231,861 |
Foundation For Excellence In Louisiana Public Broadcasting Baton Rouge, LA | $50,029,430 | $8,763,063 |
Museum Of New Mexico Foundation Santa Fe, NM | $51,964,866 | $8,605,972 |
Houston Symphony Endowment Houston, TX | $87,456,110 | $3,071,634 |