The Foundation for the Preservation of the Historic Millet Opera House (EIN 474468309) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2015

Legal Domicile

Principal Officer

Kenneth Richardson

Phone

5124779496

Tax Period

2023-01-01 to 2023-12-31

The Foundation for the Preservation of the Historic Millet Opera House, founded in 2015, is a small nonprofit in the Arts, Culture & Humanities sector that reported $326K in total revenue in fiscal year 2023. Revenue decreased 14% compared to the prior year. Expenses of $454K exceeded revenue, resulting in a 39% operating deficit.

Mission

To preserve and restore the historic Millet Opera House which was designated a recorded Texas historic landmark by the State historical survey committee and is listed on the national register of historic places.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $76,232

Program Service Revenue $249,738

Investment Income $0

Other Revenue $0

TOTAL REVENUE $325,970

Expense Breakdown

Grants Paid $0

Salaries & Benefits $72,488

Fundraising Expenses $0

Program Expenses $449,499

Other Expenses $381,734

TOTAL EXPENSES $454,222

Year-over-Year Comparison

	2023	2022	Change
Revenue	$325,970	$378,889	-0.1%
Expenses	$454,222	$402,428	+0.1%
Net Income	$-128,252	$-23,539	+4.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Michael Marks	Chairman	1.00	Officer Director	$0	$0	$0
Curtiss Fuelberg	President	1.00	Officer Director	$0	$0	$0
Thomas Kowalski	Vice President	1.00	Officer Director	$0	$0	$0
Tom Spilman	Vice President	1.00	Officer Director	$0	$0	$0
Ken Richardson	Executive Director	10.00	Officer	$0	$0	$0
Terry Lyons	Secretary	1.00	Officer Director	$0	$0	$0
Richard Millan	Treasurer	1.00	Officer Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$325,970	$454,222	$3,482,083	$-128,252
2022	$378,889	$402,428	$3,518,941	$-23,539
2021	$96,758	$222,900	$3,276,236	$-126,142
2020	$253,374	$357,909	$3,366,018	$-104,535
2019	$200,055	$213,572	$3,264,398	$-13,517
2018	$136,450	$209,818	$3,153,501	$-73,368

The Foundation for the Preservation of the Historic Millet Opera House