Pegasus Musical Society in Dallas, Texas (TX)
Table of contents:
| Pegasus Musical Society | |
| Employer Identification Number (EIN) | 752312993 |
| Name of Organization | Pegasus Musical Society |
| Address | 10260 N Central Expy Ste 276, Dallas, TX 75231-3440 |
| Activities | Cultural performances |
| Subsection | Educational Organization |
| Ruling Date | 06/1990 |
| Deductibility | Contributions are deductible |
| Foundation | Organization which receives a substantial part of its support from a governmental unit or the general public |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 06/2014 |
| Assets | $25,000 to $99,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $72,987 |
| Amount of Income | $224,284 |
| Form 990 Revenue Amount | $224,284 |
| National Taxonomy of Exempt Entities (NTEE) | Arts, Culture and Humanities: Performing Arts Organizations |
Non-representatives - add comments:
Amount of income in 2014: $224,284 (it was $260,633 in 2013)
| Pegasus Musical Society: | $224,284 |
| Other organizations performing similar types of work: | $97,607 |
Assets in 2014: $72,987 (it was $54,411 in 2013)
| This organization: | $72,987 |
| Other organizations performing similar types of work: | $60,106 |
Expenses in 2013: $277,643
| Pegasus Musical Society: | $277,643 |
| Other organizations performing similar types of work: | $120,765 |
Income to expenses ratio in 2013: 0.8
| Pegasus Musical Society: | 0.8 |
| Other organizations performing similar types of work: | 1.0 |
Grants share in income in 2013: 71.3%
| This organization: | 71.3% |
| Other organizations performing similar types of work: | 48.4% |
Revenue for 2013
Support schedule
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total revenue | $182,677 | $197,085 | $260,633 |
| Contributions, gifts, grants, and similar amounts received | $140,103 | $165,967 | $185,713 |
| Program service revenue including government fees and contracts | $42,574 | $31,118 | $74,920 |
| Membership dues and assessments | $0 | $0 | $0 |
| Investment income | $0 | $0 | $0 |
| Gain/Loss from sale of assets other than inventory | $0 | $0 | $0 |
| Net income/loss from gaming and fundraising events | $0 | $0 | $0 |
| Gross profit/loss from sales of inventory | $0 | $0 | $0 |
| Other revenue | $0 | $0 | $0 |
| Total expenses | $177,960 | $193,482 | $277,643 |
| Total net assets | $57,304 | $60,907 | $43,897 |
| Excess/Deficit for the year | $4,717 | $3,603 | $-17,010 |
| Net assets or fund balances at beginning of year | $52,587 | $57,304 | $60,907 |
| Other changes in net assets or fund balances | $0 | $0 | $0 |
| Net assets or fund balances at end of year | $60,907 | $43,897 | |
| Balance Sheets | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total assets | $68,460 | $71,793 | $54,411 |
| Total liabilities | $11,156 | $10,886 | $10,514 |
| Net assets or fund balances | $57,304 | $60,907 | $43,897 |
| Other Information | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Did the organization engage in any significant activity not previously reported to the IRS? | No | No | |
| Were any significant changes made to the organizing or governing documents? | No | No | |
| Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | No | No | No |
| Has the organization filed a Form 990-T for the year? | No | No | |
| Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? | No | No | |
| Amount of political expenditures, direct or indirect | $0 | $0 | |
| Did the organization file Form 1120-POL for this year? | No | No | |
| Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return? | No | No | |
| Total amount involved | $0 | $0 | |
| Initiation fees and capital contributions | $0 | $0 | $0 |
| Gross receipts for public use of club facilities | $0 | $0 | $0 |
| Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ? | No | No | |
| At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? | No | No | |
| Reason for Public Charity Status (for 2013) | |
| The organization is not a private foundation because it is: | An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975 |
| Number of organizations supported | 0 |
| Sum of amounts of support | $0 |
| Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013) | |
| 2009 - 2013 Total | |
|---|---|
| Public support | $654,587 |
| Subtotal | $1,013,967 |
| Gifts, grants, contributions, and membership fees received | $774,427 |
| Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose | $239,540 |
| Gross receipts from activities that are not an unrelated trade or business under section 513 | $0 |
| Tax revenues levied for the organization's benefit and either paid to or expended on its behalf | $0 |
| The value of services or facilities furnished by a governmental unit to the organization without charge | $0 |
| Less | $359,380 |
| Amounts received from disqualified persons | $359,380 |
| Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support | $0 |
| Total support | $1,013,967 |
| Public support | $1,013,967 |
| Subtotal | $0 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $0 |
| Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975 | $0 |
| Net income from unrelated business activities, whether or not the business is regularly carried on | $0 |
| Other income | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Springboard For The Arts | 308 Prince St Ste 270, Saint Paul, MN 55101-1437 | MN | 1991-10 | $3,752,753 |
| 2 | Valley Youth Theatre | 807 N 3rd St, Phoenix, AZ 85004-2021 | AZ | 1990-07 | $1,249,618 |
| 3 | Sheridan Arts Foundation | PO BOX 2680, Telluride, CO 81435-2680 | CO | 1992-01 | $1,185,011 |
| 4 | Southwest Arts & Entertainment Inc | 16225 N 32nd Pl, Phoenix, AZ 85032-3167 | AZ | 1992-06 | $605,863 |
| 5 | Piney Woods Fine Arts Association | PO BOX 1213, Crockett, TX 75835-1213 | TX | 1992-01 | $370,531 |
| 6 | Pegasus Musical Society | 10260 N Central Expy Ste 276, Dallas, TX 75231-3440 | TX | 1990-06 | $224,284 |
| 7 | Indian Fine Arts Academy | 794406, Dallas, TX 75379-4406 | TX | 1992-10 | $40,677 |
| 8 | Dancexpress | 4103 Mesa Drive, Denton, TX 76207 | TX | 1992-07 | $30,804 |
| 9 | Mostly Strauss Orchestra, Denver Pops Orchestra | 10465 Johnson Ct, Westminster, CO 80021 | CO | 1991-10 | $28,210 |
| 10 | Metropolitan Winds | PO BOX 670925, Dallas, TX 75367-0925 | TX | 1995-01 | $27,292 |
| 11 | Amateur Artist Development Council | 7940 Runnymede Dr, Jonesboro, GA 30236-2704 | GA | 1993-11 | $0 |
| 12 | Ballet Folklorico Toteohtli, Toteohtli | 20318 N Tonopah Court, Buckeye, AZ 85396 | AZ | 1993-07 | $0 |
| 13 | Bridgeport Fine Arts Theater Inc | Po Box 725, Bridgeport, TX 76426 | TX | 1990-12 | $0 |
| 14 | Community Band Inc | 7755 Carriage Lane, Wichita Falls, TX 76305 | TX | 1994-04 | $0 |
| 15 | Finnish-American Society Of Dallas Fort Worth Inc | PO BOX 832933, Richardson, TX 75083-2933 | TX | 1990-09 | $0 |
| 16 | Foundation For Pacific Dance Inc | PO BOX 621435, Littleton, CO 80162-1435 | CO | 1991-08 | $0 |
| 17 | Foxboro Regional Center For The Performing Arts | PO BOX 266, Foxboro, MA 02035-0266 | MA | 1994-02 | $0 |
| 18 | Greater Dallas Handbell Association | Po Box 670582, Dallas, TX 75367 | TX | 1992-06 | $0 |
| 19 | Quad Cities Juggling Club | 2111 Bidwell Road Apt A9, Muscatine, IA 52761 | IA | 1998-08 | $0 |
| 20 | Rlt Inc | PO BOX 851, Ruidoso, NM 88355-0851 | NM | 1992-10 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||
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| Total | 30 | ||||||||||||||||||||||||||||
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