The Hobby Center Foundation in Houston, Texas (TX)

Table of contents:

Organization representatives - add corrected or new information about The Hobby Center Foundation »

Non-representatives - add comments about The Hobby Center Foundation»

The Hobby Center Foundation
Employer Identification Number (EIN)760428914
Name of OrganizationThe Hobby Center Foundation
In Care of NameTheatre Under The Stars
Address800 Bagby St Ste 300, Houston, TX 77002-2532
ActivitiesDescribed in section 170(b)1)(a)(vi) of the Code, Erection or maintenance of public building or works
SubsectionCharitable Organization
Ruling Date08/1994
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 Period08/2010
Assets$50,000,000 to greater
Income$5,000,000 to $9,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$78,534,627
Amount of Income$6,407,647
Form 990 Revenue Amount$6,407,647
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Single Organization Support


Non-representatives - add comments:


CAPTCHA

Your IP address 50.16.132.180 will be logged.

Amount of income in 2010: $6,407,647
This organization: 

 $6,407,647
Other organizations performing similar types of work: 

 $94,368

Assets in 2010: $78,534,627
The Hobby Center Foundation: 

 $78,534,627
Other organizations performing similar types of work: 

 $44,418

Expenses in 2007: $6,609,157
The Hobby Center Foundation: 

 $6,609,157
Other organizations performing similar types of work: 

 $521,443

Income to expenses ratio in 2007: 0.7
This organization: 

 0.7
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2007: 88.7%
This organization: 

 88.7%
Other organizations performing similar types of work: 

 88.7%

Number of employees in 2007: 70
This organization: 

 70
Other organizations performing similar types of work: 

 72

Employees paid over $50,000 in 2007: 20.0%
This organization: 

 20.0%
Other organizations performing similar types of work: 

 20.0%

Grants share in income in 2007: 3.5%
The Hobby Center Foundation: 

 3.5%
Other organizations performing similar types of work: 

 1.7%

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
20002001200220032004200520062007
Total revenue$15,111,544$12,254,010$20,626,696$5,216,920$5,474,465$8,194,383$5,142,134$4,764,323
Contributions, gifts, grants, and similar amounts received$12,840,775$11,614,210$17,674,369$2,292,137$2,044,130$3,797,170$353,833$169,077
Contributions to donor advised funds$0$0
Direct public support$11,840,775$10,364,210$16,674,369$1,292,137$1,044,130$3,797,170$353,833$169,077
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$1,000,000$1,250,000$1,000,000$1,000,000$1,000,000$0$0$0
Program service revenue including government fees and contracts$0$41,677$2,693,512$2,593,646$3,012,905$3,531,097$4,357,981$4,240,158
Membership dues and assessments$0$0$19,000$51,290$46,260$0$0$0
Interest on savings and temporary cash investments$2,143,596$485,235$150,028$43,817$120,596$155,558$185,250$102,584
Dividends and interest from securities$0$477$362$0$0$0$0$0
Net rental income or (loss)$0$0$0$0$0$719,851$245,070$252,504
Gross rents$0$0$0$0$0$719,851$245,070$252,504
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$127,173$101,076$48,502$2,670$296$-9,293$0$0
Gross amount from sales of assets other than inventory$8,162,530$3,687,063$1,114,749$1,001,608$35,084$1,803,930$0$0
Less: cost or other basis and sales expenses$8,035,357$3,585,987$1,066,247$998,938$34,788$1,813,223$0$0
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$0$11,335$40,923$233,360$250,278$0$0$0
Total expenses$1,291,740$3,303,528$5,367,929$5,358,920$5,919,956$6,942,332$6,647,447$6,609,157
Program services$220,100$518,366$3,206,596$3,277,020$3,450,972$6,023,003$5,611,366$5,863,661
Management and general$686,600$1,300,329$1,458,802$1,710,173$1,738,563$855,794$958,223$553,543
Fundraising$385,040$1,484,833$702,531$371,727$730,421$63,535$77,858$191,953
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$56,073,789$65,024,271$80,283,038$80,141,035$79,695,547$69,529,010$68,023,697$66,480,394
Excess or (deficit) for the year$13,819,804$8,950,482$15,258,767$-142,000$-445,491$1,252,051$-1,505,313$-1,844,834
Net assets or fund balances at beginning of year$42,253,985$56,073,789$65,024,271$80,283,038$80,141,035$79,695,547$69,529,010$68,023,697
Other changes in net assets or fund balances$0$0$0$-3$3$-11,418,588$0$301,531
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$6,609,157$5,863,661$553,543$191,953
Grants paid from donor advised funds$0
Other grants and allocations$22,082
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$263,093$131,546$78,928$52,619
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$1,513,404$1,232,270$228,491$52,643
Pension plan contributions not included above$52,907$42,361$10,546$0
Employee benefits not included above$159,736$135,956$23,780$0
Payroll taxes$81,840$62,480$16,135$3,225
Professional fundraising fees$0$0$0$0
Accounting fees$22,310$0$22,310$0
Legal fees$9,436$0$9,436$0
Supplies$96,901$93,217$3,684$0
Telephone$28,388$25,704$2,684$0
Postage and shipping$4,430$4,253$177$0
Occupancy$865,408$800,587$27,354$37,467
Equipment rental and maintenance$210,621$201,660$8,961$0
Printing and publications$1,458$1,400$58$0
Travel$43,492$18,584$19,228$5,680
Conferences, conventions, and meetings$0$0$0$0
Interest$658,645$632,300$26,345$0
Depreciation, depletion, etc.$1,177,568$1,125,582$51,986$0
Other expenses not covered above$1,397,438$1,333,679$23,440$40,319
Balance Sheets
20002001200220032004200520062007
Total assets$107,183,296$118,339,289$115,466,425$102,178,881$101,893,200$86,233,060$83,794,723$81,541,271
Cash - non-interest-bearing$2,054,119$10,648,347$213,391$504,828$344,993$124,793$7,596$15,100
Savings and temporary cash investments$24,297,197$7,990,599$17,199,568$5,483,533$6,040,461$3,010,485$3,342,320$2,799,568
Accounts receivable less allowance for doubtful accounts$172,914$1,151,318$11,538$1,087,349$170,066$548,847$251,761$400,080
Pledges receivable less allowance for doubtful accounts$4,527,658$4,757,218$3,122,305$1,459,437$452,816$410,911$464,421$312,436
Grants receivable$8,690,623$7,157,353$3,574,204$982,092$0$13,215,039$12,301,827$11,663,615
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$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)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$483,567$662,597$131,985$880,263$0$782,666$742,270$759,259
Investments - publicly-traded securities$3,214,600$0
Investments - other securities$0$0$0$0$0$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$44,007$961,492$1,266,152$1,066,268$857,417$64,692,045$63,438,990$62,148,596
Other assets, including program-related investments$66,913,211$85,010,365$89,947,282$90,715,111$94,027,447$3,448,274$30,938$3,442,617
Total liabilities$51,109,507$53,315,018$35,183,387$22,037,846$22,197,653$16,704,050$15,771,026$15,060,877
Accounts payable and accrued expenses$16,109,507$18,315,018$183,387$988,395$736,658$776,660$628,758$587,152
Grants payable$0$0$0$0$0$455,834$366,876$277,917
Deferred revenue$0$0$0$0$0$137,495$136,331$179,258
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$35,000,000$35,000,000$35,000,000$21,049,451$21,424,947$15,334,061$14,639,061$14,016,550
Other liabilities$0$0$0$0$36,048$0$0$0
Total liabilities and net assets/fund balances$107,183,296$118,339,289$115,466,425$102,178,881$101,893,200$86,233,060$83,794,723$81,541,271
Total net assets or fund balances$56,073,789$65,024,271$80,283,038$80,141,035$79,695,547$69,529,010$68,023,697$66,480,394
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$15,111,544$12,254,010$20,626,696$5,216,920$5,474,465$8,194,383$5,142,134$4,764,323
Total revenue, gains, and other support per audited financial statements$9,720,813$8,280,760$20,688,138$5,350,395$5,593,669$9,763,120$7,017,046$6,503,535
Other expenses$0$58,503$61,442$193,475$259,860$1,568,737$1,874,912$1,739,212
Net unrealized gains on investments$0$0$0$0$0$0$0$0
Donated services and use of facilities$0$58,503$61,442$193,475$259,817$235,812$141,715$108,151
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$0$0$0$43$1,332,925$1,733,197$1,631,061
Other revenue$5,390,731$4,031,753$0$60,000$140,656$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$5,390,731$4,031,753$0$60,000$140,656$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$1,291,740$3,303,528$5,367,929$5,358,920$5,919,956$6,942,332$6,647,447$6,609,157
Total expenses and losses per audited financial statements$1,291,740$3,357,567$5,429,371$5,552,395$6,039,160$8,635,185$8,152,094$8,096,705
Other revenue$0$58,503$61,442$193,475$259,860$1,692,853$1,504,647$1,487,548
Donated services and use of facilities$0$58,503$61,442$193,475$259,817$235,812$141,715$108,151
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$0$0$0$43$1,457,041$1,362,932$1,379,397
Other expenses$0$4,464$0$0$140,656$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$4,464$0$0$140,656$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$263,093$0$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings17
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, 200670
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$355,088$4,240,158
Program service revenue
Program service revenue 1000000$000$0$4,240,158
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$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)$102,584$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$0Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$252,504$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$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
$100,888$11,945$0
$95,157$11,659$0
$94,379$11,620$0
$94,028$11,602$0
$79,961$10,565$0
Total number of other employees paid over $50,0008
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 isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
19992000200120022003200420052006
Total$12,077,135$15,111,544$12,254,010$20,626,696$5,518,429$7,398,073$9,029,295$6,674,546
Gifts, grants, and contributions received$10,211,885$12,840,775$11,614,210$17,674,369$2,593,646$3,097,011$3,976,570$214,159
Membership fees received$0$0$0$19,000$51,290$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$41,677$2,445,240$2,216,589$4,180,466$3,627,097$4,655,067
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$1,862,410$2,143,596$485,712$398,662$420,874$120,596$400,628$430,320
Net income from unrelated business activities not included above$2,840$127,173$112,411$89,425$236,030$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$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$0$0$1,025,000$1,375,000
Other income$0$0$0$0$0$0$0$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
Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Los Angeles County Museum Of Natural History Foundation900 Exposition Blvd, Los Angeles, CA 90007-4057CA1966-05$85,128,348
2Metropolitan Opera Centennial Fund Endowment Trust30 Lincoln Center 423, New York, NY 10023-6922NY1960-07$85,048,521
3Bam Endowment Trust30 Lafayette Ave, Brooklyn, NY 11217-1430NY1992-12$21,554,378
4Academy Of Music Endowment Fund1600 Market St Fl 8, Philadelphia, PA 19103-7243PA1980-09$12,957,978
5Pacific Northwest Ballet Foundation301 Mercer St, Seattle, WA 98109-4600WA1997-01$7,370,235
6American Friends Of The Israel Philharmonic Orchestra Inc122 E 42nd St Rm 4507, New York, NY 10168-4595NY1972-08$6,597,485
7The Hobby Center Foundation800 Bagby St Ste 300, Houston, TX 77002-2532TX1994-08$6,407,647
8Santa Fe Opera FoundationSanta Fe, NM 87504NM$3,503,693
9San Francisco Performing Arts Center Foundation401 Van Ness Ave Ste 110, San Francisco, CA 94102-4521CA1974-02$2,814,290
10Springer Opera House Arts Association Tua 3019590655 0061525 W Wt Harris Blvd, Charlotte, NC 28288-0001NC1988-09$1,707,520
11Actors Fund Of America Trust Pt 6990PO BOX 3038, Milwaukee, WI 53201-3038WI$1,030,000
12Detroit Symphony Orchestra Endowment Trust Fund3711 Woodward Ave, Detroit, MI 48201-2005MI1973-06$645,641
13Nina Browne Parker TrPO BOX 1118, Cincinnati, OH 45201-1118OH1980-04$490,196
14Houston Ballet Guild Inc601 Preston St, Houston, TX 77002-1605TX1981-03$4,801,869
15Dripping Springs Band Boosters IncPO BOX 244, Dripping Spgs, TX 78620-0244TX2001-03$417,538
16L H Underwood Ctr For The Arts Talking Endowment For Operations511 Avenue K, Lubbock, TX 79401-1800TX2005-11$196,613
17Marching Green Pride Band BoostersPO BOX 1811, Azle, TX 76020TX1999-02$146,059
18Hebron High School Silver Wings Drill Team Booster Club4207 Plano Parkway, Carrollton, TX 75010TX2005-07$113,180
19Knights Of The Symphony515 Congress Ave Ste 2020, Austin, TX 78701-3506TX2003-12$102,568
20Klein Collins Band Association4008 Louetta Rd Box 262, Spring, TX 77388-4405TX2002-06$88,396
21Central High School Band Boosters AssociationPO BOX 48032, Fort Worth, TX 76148-0032TX2004-04$58,011
22Clark Middle School Cougar Band Boosters, Cms Cougar Band Boosters4600 Colby Dr, Frisco, TX 75035-6013TX2001-10$55,959
23James Bowie High School Band Booster AssociationPO BOX 180383, Arlington, TX 76096-0383TX1992-04$50,687
24Friends Of The Foster Flairs4400 Fm 723 Rd, Richmond, TX 77469-9232TX2001-10$30,990
25Hebron Orchestra Booster Club4207 Plano Pkwy, Carrollton, TX 75010-4205TX2008-01$10,528
26Bastrop Honeybear Booster ClubPo Box 1824, Bastrop, TX 78602TX2003-09$0
27Canyon Aristocats Parents Association1510 Ih 35, New Braunfels, TX 78130TX2008-02$0
28Cypress Woods Theatre Arts Booster ClubPO BOX 2722, Cypress, TX 77410-2722TX2008-05$0
29Lhs Orchestra Boosters1301 Summit Ave, Lewisville, TX 75077TX2007-02$0
30Midway Band BackersPo Box 2384, Hewitt, TX 76643TX2001-03$0
Number of organizations performing similar types of work
Alaska2
Alabama2
Arkansas1
Arizona5
California26
Colorado6
Connecticut2
Delaware1
Florida19
Georgia2
Iowa7
Idaho1
Illinois11
Indiana7
Kansas3
Kentucky3
Louisiana5
Massachusetts6
Maryland3
Maine2
Michigan15
Minnesota3
Missouri15
Mississippi1
Montana1
North Carolina11
Nebraska3
New Hampshire2
New Jersey6
New Mexico2
Nevada1
New York25
Ohio19
Oklahoma4
Oregon6
Pennsylvania5
Rhode Island1
South Carolina9
Tennessee3
Texas38
Utah2
Virginia12
Washington10
Wisconsin9
West Virginia3
International2
Total322

faqs.org is not associated with, endorsed by, or sponsored by The Hobby Center Foundation and has no official or unofficial affiliation with The Hobby Center Foundation