The Cullen Trust for the Performing Arts

EIN: 742060976 501(c)(3) Arts, Culture & Humanities

Houston, TX

Total Revenue
$9,784,297
Total Expenses
$4,867,637
Total Assets
$104,280,475
Net Assets
$104,280,475
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1979
Legal Domicile
TX
Principal Officer
Cornelia Zilkha
Phone
7133332239
Tax Period
2023-01-01 to 2023-12-31

The Cullen Trust for the Performing Arts, founded in 1979, is a community nonprofit in the Arts, Culture & Humanities sector that reported $9.8M in total revenue in fiscal year 2023. Revenue fell 48% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $4.9M, a strong 50% operating margin.

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.

Program Service Accomplishments

Program 1
Expenses: $3,894,500

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...

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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).

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $9,784,297
Other Revenue $0
TOTAL REVENUE $9,784,297

Expense Breakdown

Grants Paid $3,894,500
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $3,894,500
Other Expenses $973,137
TOTAL EXPENSES $4,867,637

Year-over-Year Comparison

2023 2022 Change
Revenue $9,784,297 $18,721,495 -0.5%
Expenses $4,867,637 $4,092,087 +0.2%
Net Income $4,916,660 $14,629,408 -0.7%
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

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Liquidity & Cash Position

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Governance

Voting Members
8
Independent Members
8
Employees
N/A
Volunteers
8

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
4
$0
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Cornelia Zilkha Chair 1.00
Officer Director
$0 $0 $0
Carroll R Ray Vice Chair 1.00
Officer Director
$0 $0 $0
Louisa Sarofim Secretary 1.00
Officer Director
$0 $0 $0
Daniel Zilkha Treasurer 1.00
Officer Director
$0 $0 $0
Chris Joseph Trustee 1.00
Director
$0 $0 $0
Cornelia C Long Trustee 1.00
Director
$0 $0 $0
Isabel Lummis Trustee 1.00
Director
$0 $0 $0
Rose Hochner Nelson Trustee 1.00
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 $9,784,297 $4,867,637 $104,280,475 $4,916,660
2022 $18,721,495 $4,092,087 $99,363,815 $14,629,408
2021 $8,559,059 $3,914,874 $84,734,407 $4,644,185
2020 $9,332,537 $4,346,435 $80,090,222 $4,986,102
2019 $4,615,135 $2,453,200 $75,104,120 $2,161,935
2018 $10,455,813 $6,043,554 $72,942,185 $4,412,259
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