WICHITA FALLS ART ASSOCIATION (EIN 300395803) - 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

1949

Legal Domicile

Phone

9403437507

Tax Period

2024-01-01 to 2024-12-31

WICHITA FALLS ART ASSOCIATION, founded in 1949, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $31K in total revenue in fiscal year 2024. Revenue fell 62% from the prior year — a significant decline worth monitoring. Expenses of $60K exceeded revenue, resulting in a 92% operating deficit.

Mission

Our mission is to promote local artists, to expand cultural horizons, broaden education and enrich the community through appreciation and participation in the visual arts.

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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 (2024)

Revenue Breakdown

Contributions & Grants $4,174

Program Service Revenue $27,115

Investment Income $27

Other Revenue $0

TOTAL REVENUE $31,316

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $55,271

Other Expenses $60,171

TOTAL EXPENSES $60,171

Year-over-Year Comparison

	2024	2023	Change
Revenue	$31,316	$82,335	-0.6%
Expenses	$60,171	$69,270	-0.1%
Net Income	$-28,855	$13,065	-3.2%

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
KIM WARD	President	10.00	Officer Director	$0	$0	$0
EXA CUNNINGHAM	Vice President	1.00	Officer Director	$0	$0	$0
CINDY THOMAS	Secretary	1.00	Officer Director	$0	$0	$0
JACKIE PHLLIPS	Treasurer	10.00	Officer Director	$0	$0	$0
DOTTI LESIEUR	BOARD MEMBER	1.00	Director	$0	$0	$0
DORIS LACKEY	BOARD MEMBER	1.00	Director	$0	$0	$0
ANGELINA SOTO	BOARD MEMBER	1.00	Director	$0	$0	$0
DERRICK HOLT III	BOARD MEMBER	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	$31,316	$60,171	$35,675	$-28,855
2023	$82,335	$69,270	$64,530	$13,065
2022	$75,768	$88,873	$51,465	$-13,105
2021	$64,400	$48,771	$64,570	$15,629

WICHITA FALLS ART ASSOCIATION