Ovation Academy
- Assets
- $32.2k
- Revenue
- $301.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Mc Kinney, TX
- Founding
- 06/2018
- Data as of
- 07/2021
- EIN
- 82-5263677
Organization Overview
Ovation Academy is located in Mc Kinney, TX. The organization was established in 2018. According to its NTEE Classification (A6E) the organization is classified as: Performing Arts Schools, 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. Ovation Academy 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 07/2021, Ovation Academy generated $301.5k in total revenue. All expenses for the organization totaled $313.0k during the year ending 07/2021.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE STUDIO PROVIDES A HOME FOR PERFORMERS TO PURSUE THEIR PASSION OF THE ARTS THROUGH PROFESSIONAL STYLE TRAINING NECESSARY TO SUCCEED IN THE ARTS INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ARTS EDUCATION INCLUDING DANCE, THEATRE, AND MUSIC WHILE COMPLETING A HIGH SCHOOL CURRICULUM.
ARTS EDUCATION INCLUDING DANCE, THEATRE, AND MUSIC WHILE COMPLETING A HIGH SCHOOL CURRICULUM.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angela Burns President And Exec Director | OfficerTrustee | 40 | $21,318 |
Wendy Mcintyre Vice President | OfficerTrustee | 3 | $0 |
Angela Crone Treasurer | OfficerTrustee | 1 | $0 |
Lacey Combs Director | Trustee | 1 | $0 |
Amy Lacey Director | Trustee | 1 | $0 |
Dr Aaron Adair Director | Trustee | 1 | $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 | $94,662 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $94,662 |
| Total Program Service Revenue | $206,826 |
| Investment income | $2 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $301,490 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $21,318 |
| Compensation of current officers, directors, key employees. | $10,318 |
| 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 | $151 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $135,493 |
| Advertising and promotion | $13,743 |
| Office expenses | $14,812 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $55,611 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,125 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,308 |
| All other expenses | $0 |
| Total functional expenses | $312,969 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,194 |
| 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 | $18,009 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $32,203 |
| 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 | $22,125 |
| Unsecured mortgages and notes payable | $15,963 |
| Other liabilities | $0 |
| Total liabilities | $38,088 |
| Net assets without donor restrictions | $0 |
| 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 | -$5,885 |
| Total liabilities and net assets/fund balances | $32,203 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
James Dick Foundation For The Performing Arts Round Top, TX | $11,443,397 | $1,538,849 |
Suzuki Institute Of Dallas Dallas, TX | $1,326,376 | $1,015,482 |
Armstrong Community Music School Austin, TX | $2,247,979 | $838,136 |
Kids Who Care Inc Fort Worth, TX | $671,145 | $801,127 |
Barthelmes Conservatory Inc Tulsa, OK | $226,346 | $568,241 |
Austin Chamber Music Center Austin, TX | $391,345 | $543,096 |
Taos School Of Music Incorporated Taos, NM | $3,000,343 | $563,635 |
Art & Drama Centre Theatre Plano, TX | $0 | $350,681 |
Oklahoma Youth Orchestra Inc Oklahoma City, OK | $117,077 | $298,770 |
Ovation Academy Mc Kinney, TX | $32,203 | $301,490 |
Dance Arts Los Alamos White Rock, NM | $79,826 | $313,726 |
Oklahoma Music Educators Association Muskogee, OK | $135,662 | $236,159 |