Pegasus Theatre Inc in Dallas, Texas (TX)

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Pegasus Theatre Inc
Employer Identification Number (EIN)752130927
Name of OrganizationPegasus Theatre Inc
Address6333 E Mockingbird Lane Pmb 773, Dallas, TX 75214-2692
ActivitiesCommunity theatrical group
SubsectionEducational Organization
Ruling Date12/1986
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period09/2014
Assets$1 to $9,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$4,846
Amount of Income$157,645
Form 990 Revenue Amount$77,396
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Performing Arts Centers


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Amount of income in 2014: $157,645 (it was $141,319 in 2013)
This organization: 

 $157,645
Other organizations performing similar types of work: 

 $157,645

Assets in 2014: $4,846 (it was $9,045 in 2013)
Pegasus Theatre Inc: 

 $4,846
Other organizations performing similar types of work: 

 $181,854

Expenses in 2014: $81,595
This organization: 

 $81,595
Other organizations performing similar types of work: 

 $224,396

Income to expenses ratio in 2014: 1.9
This organization: 

 1.9
Other organizations performing similar types of work: 

 1.0

Grants share in income in 2014: 22.5%
This organization: 

 22.5%
Other organizations performing similar types of work: 

 41.0%

Financial snapshot ($)

Revenue for 2014

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2011201220132014
Total revenue$123,474$150,234$141,319$77,396
Contributions, gifts, grants, and similar amounts received$23,554$50,814$49,911$17,452
Program service revenue including government fees and contracts$99,920$99,420$91,408$0
Membership dues and assessments$0$0$0$3,498
Investment income$0$0$0$0
Gain/Loss from sale of assets other than inventory$0$0$0$-80,249
Gross amount from sale of assets other than inventory$0$0$0$0
Less: cost or other basis and sales expenses$0$0$0$80,249
Net income/loss from gaming and fundraising events$0$0$0$0
Gross profit/loss from sales of inventory$0$0$0$0
Other revenue$0$0$0$136,695
Total expenses$127,369$152,854$141,482$81,595
Total net assets$11,828$9,208$9,045$4,846
Excess/Deficit for the year$-3,895$-2,620$-163$-4,199
Net assets or fund balances at beginning of year$15,723$11,828$9,208$9,045
Other changes in net assets or fund balances$0$0$0$0
Net assets or fund balances at end of year$9,045$4,846
Balance Sheets
2011201220132014
Total assets$11,828$9,208$9,045$4,846
Total liabilities$0$0$0$0
Net assets or fund balances$11,828$9,208$9,045$4,846
Other Information
2011201220132014
Did the organization engage in any significant activity not previously reported to the IRS?NoNo
Were any significant changes made to the organizing or governing documents?NoNo
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNoNoNoNo
Has the organization filed a Form 990-T for the year?NoNo
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?NoNo
Amount of political expenditures, direct or indirect$0$0
Did the organization file Form 1120-POL for this year?NoNo
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?YesYes
Total amount involved$0$3,000
Initiation fees and capital contributions$0$0$0$0
Gross receipts for public use of club facilities$0$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?NoNo
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?NoNo
Reason for Public Charity Status (for 2014)
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 supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Section 509(a)(2) (for 2010 - 2014)
2010 - 2014 Total
Public support$611,923
Subtotal$682,502
Gifts, grants, contributions, and membership fees received$153,855
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$0
Gross receipts from activities that are not an unrelated trade or business under section 513$528,647
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$70,579
Amounts received from disqualified persons$70,579
Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support$0
Total support$682,502
Public support$682,502
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
IdNameAddressStateEstablishedTotal Income
1Strand-Capitol Performing Arts Center Inc50 N George St, York, PA 17401-1214PA1978-07$7,596,501
2Washington Center For The Performing Arts512 Washington St Se, Olympia, WA 98501-1330WA1982-12$2,868,205
3Scranton Cultural Center At The Masonic Temple420 N Washington Ave, Scranton, PA 18503-1306PA1987-03$2,288,442
4Union County Arts Center Inc1601 Irving St, Rahway, NJ 07065-4133NJ1980-09$904,966
5Lawndale Art And Performance Center4912 Main St, Houston, TX 77002-9720TX1989-06$480,776
6Tivoli Auditorium Promotion Association Inc399 Mccallie Ave, Chattanooga, TN 37402-2030TN1991-03$424,795
7Spencertown Academy SocietyPO BOX 80, Spencertown, NY 12165-0080NY1972-06$266,079
8Pegasus Theatre Inc6333 E Mockingbird Lane Pmb 773, Dallas, TX 75214-2692TX1986-12$157,645
9Southwest Musical Arts Foundation8221 E Garfield St Unit L115, Scottsdale, AZ 85257-3886AZ1998-11$141,876
10Saddle River Valley Cultural Center IncPO BOX 386, Saddle River, NJ 07458-0386NJ1984-05$78,133
11Skyline Theatre Company12-45 River Rd 121, Fairlawn, NJ 07410-1812NJ1998-04$42,394
12Allard Artists Inc17332 Von Karman Ave Ste 150, Irvine, CA 92614-6292CA1990-01$0
13Alliance For Childrens Arts885 N Prescott Dr, Palm Springs, CA 92262-5681CA1969-05$0
14Aria Opera Corporation, Aria1801 Century Park E Ste 500, Los Angeles, CA 90067-2307CA1998-05$0
15Atlantic City Dance Theatre Centre Of Cultural Learning Inc1601 Marmora Avenue, Atlantic City, NJ 08401NJ1996-01$0
16Bank Playhouse1437 San Marino Ave, San Marino, CA 91108-2027CA1981-04$0
17California Arts In Motion Council Inc2201 Broadway Ste 500, Oakland, CA 94612-3007CA1998-10$0
18Center For The Arts Inc2442 10th Ave Apt C, Honolulu, HI 96816-6101HI1997-05$0
19Oneway Productions IncPO BOX 530931, Grand Prairie, TX 75053-0931TX1995-02$0
20Zocalo Theatre & Performance Company1609 Northwood St, Houston, TX 77009-2510TX1995-01$0
Number of organizations performing similar types of work
Arizona3
California8
Colorado1
Connecticut1
District of Columbia2
Delaware1
Florida2
Hawaii1
Idaho1
Illinois3
Indiana3
Kansas1
Kentucky1
Michigan2
Missouri2
New Hampshire1
New Jersey4
Nevada1
New York4
Ohio2
Oklahoma1
Oregon1
Pennsylvania5
South Carolina1
Tennessee2
Texas4
Virginia4
Washington3
Total65

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