Hippodrome Foundation Inc in Baltimore, Maryland (MD)

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Hippodrome Foundation Inc
Employer Identification Number (EIN)521054299
Name of OrganizationHippodrome Foundation Inc
Address416 W Baltimore St, Baltimore, MD 21201-1717
ActivitiesCommemorative event (centennial, festival, pageant, etc.), Community theatrical group
SubsectionCharitable Organization
Ruling Date03/1976
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2012
Assets$1,000,000 to $4,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$2,496,247
Amount of Income$2,668,995
Form 990 Revenue Amount$1,703,124
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Performing Arts Centers


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Amount of income in 2012: $2,668,995
This organization: 

 $2,668,995
Other organizations performing similar types of work: 

 $976,304

Assets in 2012: $2,496,247
Hippodrome Foundation Inc: 

 $2,496,247
Other organizations performing similar types of work: 

 $1,269,208

Expenses in 2004: $3,525,052
Hippodrome Foundation Inc: 

 $3,525,052
Other organizations performing similar types of work: 

 $4,355,769

Income to expenses ratio in 2004: 0.6
This organization: 

 0.6
Other organizations performing similar types of work: 

 1.0

Expenses allocated to program services in 2004: 88.8%
Hippodrome Foundation Inc: 

 88.8%
Other organizations performing similar types of work: 

 79.1%

Number of employees in 2004: 24
Hippodrome Foundation Inc: 

 24
Other organizations performing similar types of work: 

 66

Employees paid over $50,000 in 2004: 0.0%
This organization: 

 0.0%
Other organizations performing similar types of work: 

 8.8%

Grants share in income in 2004: 76.7%
This organization: 

 76.7%
Other organizations performing similar types of work: 

 43.4%

Financial snapshot ($)

Revenue for 2004

Assets at end of 2004

Expenses for 2004

Functional Expenses for 2004 ($)

Income-Producing Activities for 2004

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2001200220032004
Total revenue$5,370,164$2,127,824$3,008,999$2,009,934
Contributions, gifts, grants, and similar amounts received$5,309,753$1,899,429$2,637,857$1,542,563
Contributions to donor advised funds
Direct public support$121,890$1,777,539$2,561,607$1,455,155
Indirect public support$0$0$0$0
Government contributions (grants)$5,187,863$121,890$76,250$87,408
Program service revenue including government fees and contracts$0$0$246,605$465,721
Membership dues and assessments$0$0$0$0
Interest on savings and temporary cash investments$1,854$2,972$10,326$0
Dividends and interest from securities$0$0$0$0
Net rental income or (loss)$0$0$25,000$0
Gross rents$0$0$25,000$0
Less: rental expenses$0$0$0$0
Other investment income$0$0$0$0
Gain or (loss) from sales of assets other than inventory$0$0$0$0
Gross amount from sales of assets other than inventory$0$0$0$0
Less: cost or other basis and sales expenses$0$0$0$0
Net income or (loss) from special events and activities$0$0$89,211$1,650
Gross revenue$0$0$510,021$1,650
Less: direct expenses other than fundraising expenses$0$0$420,810$0
Gross profit or (loss) from sales of inventory$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0
Less: cost of goods sold$0$0$0$0
Other revenue$58,557$225,423$0$0
Total expenses$737,675$1,006,222$1,266,674$3,525,052
Program services$595,089$556,181$894,240$3,131,949
Management and general$112,500$294,431$124,502$383,686
Fundraising$30,086$155,610$247,932$9,417
Payments to affiliates$0$0$0$0
Net assets or fund balances at end of year$2,445,649$3,567,251$5,309,573$3,703,577
Excess or (deficit) for the year$4,632,489$1,121,602$1,742,325$-1,515,118
Net assets or fund balances at beginning of year$-3,133,694$2,445,649$3,567,251$5,309,576
Other changes in net assets or fund balances$946,854$0$0$-90,881
Statement of Functional Expenses (for 2004)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$3,525,052$3,131,949$383,686$9,417
Grants paid from donor advised funds
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$132,500$127,500$2,000$3,000
Compensation of former officers, directors, key employees, etc.
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Salaries and wages of employees not included above$181,325$181,325$0$0
Pension plan contributions not included above$15,288$1,500$13,588$200
Employee benefits not included above$12,155$12,155$0$0
Payroll taxes$27,015$27,015$0$0
Professional fundraising fees$4,757$0$0$4,757
Accounting fees$23,642$0$23,642$0
Legal fees$20,132$20,132$0$0
Supplies$1,835$0$1,835$0
Telephone$3,660$3,660$0$0
Postage and shipping$533$0$533$0
Occupancy$23,491$5,041$18,450$0
Equipment rental and maintenance$1,614$0$1,614$0
Printing and publications$1,460$0$0$1,460
Travel$24$0$24$0
Conferences, conventions, and meetings$686$0$686$0
Interest$47,831$0$47,831$0
Depreciation, depletion, etc.$218$0$218$0
Other expenses not covered above$3,026,886$2,753,621$273,265$0
Balance Sheets
2001200220032004
Total assets$6,106,939$11,073,102$8,854,465$5,597,394
Cash - non-interest-bearing$2,315,296$2,138,182$831,463$1,762,267
Savings and temporary cash investments$0$0$0$0
Accounts receivable less allowance for doubtful accounts$0$0$278,536$2,422,029
Pledges receivable less allowance for doubtful accounts$3,732,280$2,962,465$1,795,438$1,372,479
Grants receivable$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0
Inventories for sale or use$0$0$0$0
Prepaid expenses and deferred charges$0$42,899$26,380$31,566
Investments - publicly-traded securities
Investments - other securities$0$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0
Investments - other$0$5,922,648$5,922,648$7,095
Land, buildings, and equipment less accumulated depreciation$9,363$6,908$0$1,958
Other assets, including program-related investments$50,000$0$0$0
Total liabilities$3,661,290$7,505,851$3,544,889$1,893,817
Accounts payable and accrued expenses$3,161,290$266,054$186,058$129,020
Grants payable$0$0$0$0
Deferred revenue$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0
Mortgages and other notes payable$500,000$7,239,797$3,358,831$1,764,797
Other liabilities$0$0$0$0
Total liabilities and net assets/fund balances$6,106,939$11,073,102$8,854,465$5,597,394
Total net assets or fund balances$2,445,649$3,567,251$5,309,576$3,703,577
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
2001200220032004
Total revenue$5,370,164$2,127,824$3,008,999$2,009,934
Total revenue, gains, and other support per audited financial statements$5,370,164$2,127,824$3,008,999$2,009,934
Other expenses$0$0$0$0
Net unrealized gains on investments$0$0$0$0
Donated services and use of facilities$0$0$0$0
Recoveries of prior year grants$0$0$0$0
Other$0$0$0$0
Other revenue$0$0$0$0
Investment expenses$0$0$0$0
Other$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
2001200220032004
Total expenses$737,675$1,006,222$1,266,674$3,525,052
Total expenses and losses per audited financial statements$737,675$1,006,222$1,266,674$3,525,054
Other revenue$0$0$0$2
Donated services and use of facilities$0$0$0$0
Prior year adjustments$0$0$0$0
Losses$0$0$0$0
Other$0$0$0$2
Other expenses$0$0$0$0
Investment expenses$0$0$0$0
Other$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?
Does the organization have a written conflict of interest policy?
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 200624
Analysis of Income-Producing Activities (for 2004)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$1,650$465,721
Program service revenue
Program service revenue 1000000$000$0$10,076
Program service revenue 2000000$000$0$199,140
Program service revenue 3000000$000$0$231,505
Program service revenue 4000000$000$0$25,000
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$1,650$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2004)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
820579855100%$-286,030$6,802,955
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2004)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2004)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
Enter the total number of donor advised funds owned at the end of the tax year
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
2000200120022003
Total$1,699,159$2,188,799$2,127,824$3,495,239
Gifts, grants, and contributions received$1,662,935$2,128,389$1,899,429$3,438,916
Membership fees received$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$1,496$1,853$2,972$10,326
Net income from unrelated business activities not included above$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0
Other income$34,728$58,557$225,423$45,997
Lobbying Expenditures by Electing Public Charities (for 2004)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$975,612
Contributions, Gifts, Grants and Other Similar Amounts$138,085
Program Service Revenue$676,838
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$61,663
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$32,641
Gross amount from sales of assets other than inventory (Securities / Other)$1,533,678 / $0
Less: cost or other basis and sales expenses (Securities / Other)$1,501,037 / $0
Gain or (loss) (Securities / Other)$32,641 / $0
Net income from fundraising events$50,045
Gross income from fundraising events$106,207
Less: direct expenses$56,162
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$16,340
Statement of Functional Expenses (for 2011)
Total functional expenses$1,113,443
Compensation of current officers, directors, trustees, and key employees$99,636
Other salaries and wages$192,556
Payroll taxes$27,903
Professional fundraising services$0
Other$793,348
Balance Sheet (for 2011)
Total assets$2,116,044
Total liabilities$527,410
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$412,500
Unsecured notes and loans payable to unrelated third parties$0
Other$114,910
Total net assets or fund balances$1,588,634
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2011)
2007 - 2011 Total
Total Support$2,764,908
Gifts, grants, contributions, and membership fees received$2,404,485
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$360,423
Gross receipts from related activities, etc.$3,966,496
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Lincoln Center For The Performing Arts Inc70 Lincoln Center Plaza No 9th Fl, New York, NY 10023-6548NY1963-11$252,901,824
2John F Kennedy Center For The Performing Arts2700 F St Nw, Washington, DC 20566-0001DC1959-03$200,381,436
3Carnegie Hall Corporation881 Seventh Avenue, New York, NY 10019-3210NY1962-02$118,592,105
4Segerstrom Center For The Arts600 Town Center Dr, Costa Mesa, CA 92626-1916CA1974-11$108,562,502
5Brooklyn Academy Of Music Inc30 Lafayette Ave, Brooklyn, NY 11217-1430NY1969-12$78,394,683
6New Jersey Performing Arts Center Corporation1 Center St, Newark, NJ 07102-4501NJ1988-12$53,139,685
7Playhouse Square Foundation1501 Euclid Aveste200, Cleveland, OH 44115OH1973-09$47,587,518
8Raymond F Kravis Center For The Performing Arts Inc701 Okeechobee Blvd, West Palm Bch, FL 33401-6323FL1983-09$47,356,816
9Performing Arts Center Of Los Angeles County135 N Grand Ave, Los Angeles, CA 90012-3013CA2001-01$46,090,709
10Artis Naples Inc5833 Pelican Bay Blvd, Naples, FL 34108-2740FL1984-03$38,918,311
11Tampa Bay Performing Arts Center1010 N W C Macinnes Pl, Tampa, FL 33602-3720FL1981-05$28,619,716
12Seattle Theatre Group911 Pine St, Seattle, WA 98101-1818WA1995-05$27,541,383
13Peace Center Foundation101 W Broad St, Greenville, SC 29601-2678SC1987-02$26,591,089
14Chautauqua InstitutionPO BOX 28, Chautauqua, NY 14722-0028NY1960-04$26,466,854
15Michigan Opera Theatre1526 Broadway St, Detroit, MI 48226-2115MI1968-09$26,272,527
16Hippodrome Foundation Inc416 W Baltimore St, Baltimore, MD 21201-1717MD1976-03$2,668,995
17Maryland Hall For The Creative Arts Inc801 Chase St, Annapolis, MD 21401-3530MD1980-04$2,514,540
18Performing Arts Productions Inc8 W Hamilton St, Baltimore, MD 21201-5008MD1992-11$2,230,130
19Maryland Theatre Association Inc21 S Potomac St, Hagerstown, MD 21740-5512MD1977-06$821,696
20New Embassy Theatre Inc49 Baltimore St, Cumberland, MD 21502-3024MD1998-12$39,486
Number of organizations performing similar types of work
Alaska2
Arkansas1
Arizona2
California31
Colorado4
Connecticut10
District of Columbia4
Delaware1
Florida16
Georgia4
Hawaii1
Idaho3
Illinois8
Indiana5
Kansas4
Kentucky3
Louisiana3
Massachusetts20
Maryland6
Maine6
Michigan12
Minnesota4
Missouri5
Mississippi1
Montana2
North Carolina6
New Hampshire6
New Jersey9
New Mexico1
New York34
Ohio16
Oklahoma3
Oregon4
Pennsylvania14
Rhode Island2
South Carolina2
South Dakota1
Tennessee3
Texas19
Utah1
Virginia7
Vermont5
Washington11
Wisconsin9
West Virginia2
Wyoming1
Total314

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