Houston Symphony Endowment in Houston, Texas (TX)

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Houston Symphony Endowment
Employer Identification Number (EIN)208350227
Name of OrganizationHouston Symphony Endowment
Address615 Louisiana St, Houston, TX 77002-2715
SubsectionEducational Organization
Ruling Date05/2007
DeductibilityContributions are deductible
FoundationOrganizations operated solely for the benefit of and in conjunction with organizations described in 10 through 16 above
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period05/2012
Assets$50,000,000 to greater
Income$10,000,000 to $49,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$66,511,868
Amount of Income$11,475,231
Form 990 Revenue Amount$4,604,503
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Single Organization Support


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Amount of income in 2012: $11,475,231
This organization: 

 $11,475,231
Other organizations performing similar types of work: 

 $75,254

Assets in 2012: $66,511,868
This organization: 

 $66,511,868
Other organizations performing similar types of work: 

 $63,243

Expenses in 2007: $3,989,553
This organization: 

 $3,989,553
Other organizations performing similar types of work: 

 $1,372,978

Income to expenses ratio in 2007: 2.7
This organization: 

 2.7
Other organizations performing similar types of work: 

 1.3

Expenses allocated to program services in 2007: 97.3%
This organization: 

 97.3%
Other organizations performing similar types of work: 

 78.3%

Grants share in income in 2007: 49.7%
This organization: 

 49.7%
Other organizations performing similar types of work: 

 37.3%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2007
Total revenue$10,878,592
Contributions, gifts, grants, and similar amounts received$5,404,993
Contributions to donor advised funds$0
Direct public support$5,404,993
Indirect public support$0
Government contributions (grants)$0
Program service revenue including government fees and contracts$0
Membership dues and assessments$0
Interest on savings and temporary cash investments$0
Dividends and interest from securities$2,109,002
Net rental income or (loss)$60,611
Gross rents$60,611
Less: rental expenses$0
Other investment income$70,740
Gain or (loss) from sales of assets other than inventory$3,233,246
Gross amount from sales of assets other than inventory$11,285,818
Less: cost or other basis and sales expenses$8,052,572
Net income or (loss) from special events and activities$0
Gross revenue$0
Less: direct expenses other than fundraising expenses$0
Gross profit or (loss) from sales of inventory$0
Gross sales of inventory, less returns and allowances$0
Less: cost of goods sold$0
Other revenue$0
Total expenses$3,989,553
Program services$3,881,020
Management and general$108,533
Fundraising$0
Payments to affiliates$0
Net assets or fund balances at end of year$77,349,150
Excess or (deficit) for the year$6,889,039
Net assets or fund balances at beginning of year$0
Other changes in net assets or fund balances$70,460,111
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$3,989,553$3,881,020$108,533$0
Grants paid from donor advised funds$0
Other grants and allocations$3,881,020
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
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)$0$0$0$0
Salaries and wages of employees not included above$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$0$0$0$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$0$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$108,533$0$108,533$0
Balance Sheets
2007
Total assets$77,349,150
Cash - non-interest-bearing$0
Savings and temporary cash investments$260,165
Accounts receivable less allowance for doubtful accounts$0
Pledges receivable less allowance for doubtful accounts$8,480,735
Grants receivable$0
Receivables from current and former officers, directors, trustees, and key employees$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0
Other notes and loans receivable less allowance for doubtful accounts$0
Inventories for sale or use$0
Prepaid expenses and deferred charges$0
Investments - publicly-traded securities$39,831,323
Investments - other securities$0
Investments - land, buildings, and equipment less accumulated depreciation$480,000
Investments - other$26,513,674
Land, buildings, and equipment less accumulated depreciation$0
Other assets, including program-related investments$1,783,253
Total liabilities$0
Accounts payable and accrued expenses$0
Grants payable$0
Deferred revenue$0
Loans from officers, directors, trustees, and key employees$0
Tax-exempt bond liabilities$0
Mortgages and other notes payable$0
Other liabilities$0
Total liabilities and net assets/fund balances$77,349,150
Total net assets or fund balances$77,349,150
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
2007
Total revenue$10,878,592
Total revenue, gains, and other support per audited financial statements$8,098,625
Other expenses$-2,671,434
Net unrealized gains on investments$-2,671,434
Donated services and use of facilities$0
Recoveries of prior year grants$0
Other$0
Other revenue$108,533
Investment expenses$108,533
Other$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
2007
Total expenses$3,989,553
Total expenses and losses per audited financial statements$3,881,020
Other revenue$0
Donated services and use of facilities$0
Prior year adjustments$0
Losses$0
Other$0
Other expenses$108,533
Investment expenses$108,533
Other$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings6
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?No
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?No
Does the organization have a written conflict of interest policy?Yes
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)?No
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?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$5,473,599$0
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
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$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$2,109,002$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$0Real property rental income that does not depend on the income or profits derived by the person leasing the property and is excluded by section 512(b)(3)$60,611$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$0Royalty income excluded by section 512(b)(2)$70,740$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$3,233,246$0
Net income or (loss) from special events000000$000$0$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 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
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 2007)
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?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
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$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isNot controlled by disqualified persons/supports non private foundation
Type of supporting organizationType I
Information about the supported organizations
Employer identification number (EIN)Name of organizationType of organizationIs the supported organization listed in the supporting organization's governing documents?Amount of support
741157373Houston Symphony SocietyYes$3,989,553
Total$3,989,553
Support Schedule
2006
Total$0
Gifts, grants, and contributions received$0
Membership fees received$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
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$0
Net income from unrelated business activities not included above$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$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
Other income$0
Lobbying Expenditures by Electing Public Charities (for 2007)
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$1,509,832
Contributions, Gifts, Grants and Other Similar Amounts$554,317
Program Service Revenue$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$1,169,218
Income from investment of tax-exempt bond proceeds$0
Royalties$53,410
Net rental income$60,000
Gross rents (Real / Personal)$60,000 / $0
Less: rental expenses (Real / Personal)$0 / $0
Rental income or (loss) (Real / Personal)$60,000 / $0
Net loss from sales of assets other than inventory$-327,113
Gross amount from sales of assets other than inventory (Securities / Other)$19,548,292 / $0
Less: cost or other basis and sales expenses (Securities / Other)$19,875,405 / $0
Gain or (loss) (Securities / Other)$-327,113 / $0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2011)
Total functional expenses$3,943,476
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$0
Payroll taxes$0
Professional fundraising services$0
Other$3,943,476
Balance Sheet (for 2011)
Total assets$70,195,468
Total liabilities$0
Total net assets or fund balances$70,195,468
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 organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2)
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Houston Symphony Endowment615 Louisiana St, Houston, TX 77002-2715TX2007-05$11,475,231
2Conner Prairie Foundation Inc13400 Allisonvll Rd, Fishers, IN 46038-3457IN2005-11$11,043,288
3Homewood Foundation8949 Wilshire Blvd, Beverly Hills, CA 90211-1972CA2007-01$7,718,608
4Northshore Supporting Organization2711 Centerville Rd Ste 210, Wilmington, DE 19808-1643DE2001-12$3,367,139
5Legacy Senior Communities Inc6101 Ohio Dr Ste 100, Plano, TX 75024-2722TX2003-08$2,379,708
6Opas Foundation1200 Douglas St, Omaha, NE 68102-1815NE2006-07$2,006,560
7Barbara E Kuhlke Charitable Remainder Unitrust 11379-00106 S Main St Ste 1600, Akron, OH 44308-1418OH2003-12$1,107,644
8Jacksonville Symphony Foundationinc300 Water St Ste 200, Jacksonville, FL 32202-4443FL2006-12$724,993
9Springstep Foundation Inc98 George P Hassett Dr, Medford, MA 02155-3202MA2001-06$649,771
10Dr Phillips Center For The Performing Arts Inc455 S Orange Ave Ste 700, Orlando, FL 32801-3357FL2005-04$174,935
11Austin Symphony Orchestra Society Endowment Fund Trust1101 Red River St, Austin, TX 78701-1912TX2007-11$3,392,744
12Hcpa Services Company800 Bagby, Houston, TX 77002-2531TX2001-01$1,791,521
13Cy-Falls Athletic Booster Club9811 Huffmeister Rd, Houston, TX 77095-2307TX1999-04$172,564
14Bill And Sara Morgan Real Estate Foundation5120 Woodway Dr Ste 6000, Houston, TX 77056-1791TX2001-05$170,407
15Da Camera Endowment Fund Inc1427 Branard St, Houston, TX 77006-4803TX2000-06$157,493
16Houston Boychoir Inc2353 Rice Blvd, Houston, TX 77005-2621TX2001-01$125,502
17Family Circle Inc, Haitian Street Kids5209 Rain Forest Dr, Mckinney, TX 75070-9484TX2006-03$102,440
18Naval History Foundation Of South Texas615 N Upper Broadway St Ste 1670, Crp Christi, TX 78401-0770TX2004-06$81,746
19Lehman Lobo Band Boosters1700 Lehman Rd, Kyle, TX 78640-5246TX2007-09$64,022
20Liberty Hill Band Boosters AssociationPO BOX 44, Liberty Hill, TX 78642-0044TX2008-12$46,145
Number of organizations performing similar types of work
Alaska1
Alabama7
Arkansas7
Arizona18
California70
Colorado20
Connecticut10
District of Columbia4
Delaware4
Florida41
Georgia24
Hawaii6
Iowa16
Idaho8
Illinois23
Indiana18
Kansas7
Kentucky13
Louisiana13
Massachusetts19
Maryland12
Maine5
Michigan23
Minnesota12
Missouri16
Mississippi5
Montana3
North Carolina25
North Dakota1
Nebraska8
New Hampshire3
New Jersey12
New Mexico7
Nevada1
New York38
Ohio36
Oklahoma12
Oregon7
Pennsylvania23
Rhode Island1
South Carolina8
South Dakota1
Tennessee6
Texas78
Utah6
Virginia22
Vermont4
Washington22
Wisconsin22
West Virginia5
Wyoming1
International4
Total758

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