TexArts Association for Visual & Performing Arts
Nonprofit profile at a glance
- EIN
- 861150456
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Lakeway, TX, USA
- Phone
- 5128529079
- Rating
- 87
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Performing Arts Organizations
Reported finances
- Revenue
- $1,037,615
- Expenses
- $1,172,462
- Assets
- $5,638,569
- Liabilities
- $3,870,129
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
9 people listed
Highest reported compensation
- Sandy Cox (Exec Director): $41,538 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
TexARTS is an arts education and performance destination that builds character, professionalism, and careers. Its mission is to cultivate a thriving arts community by exposing all people to the visual and performing arts. TexARTS prepares and promotes exceptional young talent to achieve their fullest potential as artists, leaders, and global citizens. TexARTS is recognized throughout the region for its world-class professional theatre and educational programs.
What it reported doing in 2024
Music Theater Academy: Process-based instruction in music, dance, and theater for young people ages seven through college and some adult classes. Instruction is given by core Austin area professionals as well as regularly visiting guest artists/teachers from Broadway film, television, and top university programs, nation-wide. This program is conducted year-round.Performance/Production Series: Professional performances of classic American musicals incorporating a handful of Broadway performers, directors, and/or choreographers and/or musical directors with Austin and Central Texas professionals as well as TexArts' musical theater academy students. Guests artists strive to "give back" professional expertise and skill.General Programs - expenses that benefit the overall exempt purposes of TexARTS and the programs listed above, such as personnel costs, occupancy, and other.
Operating model
- Revenue model
- Earned-program. 62% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 94
- Transparency & Controls: 86
- Accountability: 84
- Sustainability: 39
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 89.3%; rating input score 89
- Fundraising efficiency: $58.67 raised per $1 spent on fundraising; rating input score 80; 80th percentile among comparable filings
Transparency & Controls
- Consistency checks: 93.3%; rating input score 93; 22nd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 5 of 8 controls in place; rating input score 62
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -13%; rating input score 14; 14th percentile among comparable filings
- Total-asset coverage ratio: 4.81; rating input score 84; 84th percentile among comparable filings
- Liabilities to assets ratio: 0.69; rating input score 11; 11th percentile among comparable filings
- Officer compensation ratio: 3.5%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: 4.8% per year; rating input score 100; 41st percentile among comparable filings
- Revenue growth: 5.5% per year; rating input score 100; 46th percentile among comparable filings
- Asset growth: 27% per year; rating input score 100; 89th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 89.3% of spending went to programs
- Governance: 8 of 8 board members independent · 5 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $1M in reported program spending
- Leadership: top reported pay $42K · 9 people listed
- Consistency: 31 of 31 current checks pass
- Schedules: 4 filed schedules · includes major donors
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: Filed and resolved organization relationships.
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Accountability: Governance controls: 2 of 7 not reported.
- High — Sustainability: Operating margin scored 14/100.
- High — Sustainability: Liabilities to assets ratio scored 11/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.