The Cullen Trust for the Performing Arts

Nonprofit profile at a glance

EIN
742060976
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Houston, TX, USA
Phone
7133332239
Rating
91
Verdict
STRONG
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Reported finances

Revenue
$32,863,579
Expenses
$4,753,507
Assets
$132,390,547
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

People named in this filing

  • Cornelia Zilkha (Chair)
  • Carroll R Ray (Vice Chair)
  • Louisa Sarofim (Secretary)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Cullen Trust for the Performing Arts operates for the benefit of performing arts institutions within the State of Texas, primarily with respect to such institutions within the Greater Metropolitan Houston area.

What it reported doing in 2024

The Cullen Trust for the Performing Arts is a public charitable trust created as a supporting organization for the benefit of performing arts institutions in the State of Texas, primarily for institutions in the Greater Metropolitan Houston area. The Trust Agreement governing The Cullen Trust for the Performing Arts provides that each of the beneficiaries must be an organization that is described in section 501(c)(3) and is other than a private foundation within the meaning of section 509(a). In this Form 990 all section references are to sections of the Internal Revenue Code unless otherwise noted. As a matter of policy, the Trust does not make grants to organizations that are supporting organizations within the meaning of section 509(a)(3).

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. No material rating questions were generated from the available inputs.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 93
  • Accountability: 100
  • Sustainability: 98
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 82.3%; rating input score 82
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 99.9%; rating input score 100; 38th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 85.5%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 27.85; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 99; 99th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: 0.1% per year; rating input score 100; 11th percentile among comparable filings
  • Revenue growth: 21.7% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 9.7% per year; rating input score 100; 64th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 82.3% of spending went to programs
  • Governance: 9 of 9 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $3.9M in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Highest-paid contractors: 2 contractors listed · $792K reported
  • Consistency: 20 of 20 current checks pass
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 43 filed money-flow records
  • Related organizations: 46 filed related-organization links
  • 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.