OVATION ACADEMY OF PERFORMING ARTS

EIN: 825263677 501(c)(3)

Mc Kinney, TX

Total Revenue
$301,490
Total Expenses
$312,969
Total Assets
$32,203
Net Assets
$-5,885
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2018
Legal Domicile
TX
Phone
4696693082
Tax Period
2020-08-01 to 2021-07-31

OVATION ACADEMY OF PERFORMING ARTS, founded in 2018, is a small nonprofit that reported $301K in total revenue in fiscal year 2020. Revenue decreased 10% compared to the prior year.

Mission

OVATION ACADEMY WAS FOUNDED TO PROVIDE A HOME FOR PERFORMERS TO PURSUE THEIR PASSION OF THE ARTS THROUGH PROFESSIONAL STYLE TRAINING WHICH PROVIDES THE TECHNIQUE, LIFE-SKILLS, EXPERIENCES, AND CONNECTIONS NECESSARY TO SUCCEED IN THE INDUSTRY. OVATION ACADEMY STRIVES TO PRODUCE KNOWLEDGABLE, RESPECTFUL, EMPATHETIC, AND IMPACTFUL ARTISTS WHO WILL POSITIVELY CONTRIBUTE TO THEIR COMMUNITIES AND THE PERFORMING ARTS INDUSTRY

Program Service Accomplishments

Program 1
Expenses: $272,901 Revenue: $206,826

ARTS EDUCATION INCLUDING DANCE, THEATRE, AND MUSIC WHILE COMPLETING A HIGH SCHOOL CURRICULUM.

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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 (2020)

Revenue Breakdown

Contributions & Grants $94,662
Program Service Revenue $206,826
Investment Income $2
Other Revenue $0
TOTAL REVENUE $301,490

Expense Breakdown

Grants Paid $0
Salaries & Benefits $21,318
Fundraising Expenses $5,497
Program Expenses $272,901
Other Expenses $291,651
TOTAL EXPENSES $312,969

Year-over-Year Comparison

2020 2019 Change
Revenue $301,490 $334,703 -0.1%
Expenses $312,969 $297,875 +0.1%
Net Income $-11,479 $36,828 -1.3%
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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
7
Independent Members
6
Employees
N/A
Volunteers
20

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
3
$21,318
Total Directors
7
$21,318
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ANGELA BURNS PRESIDENT AND EXEC DIRECTOR 40
Officer Director
$21,318 $0 $21,318
WENDY MCINTYRE VICE PRESIDENT 3
Officer Director
$0 $0 $0
ANGELA CRONE TREASURER 1
Officer Director
$0 $0 $0
ANA GONZALEZ DIRECTOR 1
Director
$0 $0 $0
AMY LACEY DIRECTOR 1
Director
$0 $0 $0
DR AARON ADAIR DIRECTOR 1
Director
$0 $0 $0
LACEY COMBS DIRECTOR 1
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
2021 $301,490 $312,969 $32,203 $-11,479
2020 $334,703 $297,875 $45,178 $36,828
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