Wichita Falls Alliance for Arts an… - Form 990 Financial Data

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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

2015

Legal Domicile

Principal Officer

Ann Arnold-Ogden

Phone

9405004453

Tax Period

2024-01-01 to 2024-12-31

Wichita Falls Alliance for Arts and Culture, founded in 2015, is a small nonprofit in the Arts, Culture & Humanities sector that reported $432K in total revenue in fiscal year 2024. Revenue fell 47% from the prior year — a significant decline worth monitoring. Expenses of $560K exceeded revenue, resulting in a 30% operating deficit.

Mission

To provide leadership to support, promote and cultivate the arts in Wichita Falls and the surrounding area. To strengthen and elevate arts and culture including, but not limited to, visual and performing arts, literature, culinary arts, architecture and horticulture.

Program Service Accomplishments

Program 1

Expenses: $387,397

Inspire participation, support, appreciation and leadership of quality arts and arts programs; make the arts more accessible for all persons in the region, from children and adults to art...

Inspire participation, support, appreciation and leadership of quality arts and arts programs; make the arts more accessible for all persons in the region, from children and adults to art professionals; build bridges to connect neighborhoods, organizations, businesses and educational and governmental entities to promote and celebrate artistic and cultural diversity through shared experiences; nurture the arts through ongoing education and creative development; promote the arts through advocacy, publicity, funding and policy development for area arts and cultural organizations; and strenghten skills and infrastructure for arts organizations and artists to support high quality artistic and cultural experiences.

Program 2

Expenses: $135,165

WFAAC's Grants Program manages a competitive grants program, awarding 11 grants totaling $82,500.00 through a panel review process which awards on key elements such as artistic/cultural development, audience development and community outreach, cultural tourism impact and the administrative and management ability of the organization.

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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 $432,536

Program Service Revenue $0

Investment Income $152

Other Revenue $-777

TOTAL REVENUE $431,911

Expense Breakdown

Grants Paid $82,500

Salaries & Benefits $145,541

Fundraising Expenses $15,261

Program Expenses $522,562

Other Expenses $331,886

TOTAL EXPENSES $559,927

Year-over-Year Comparison

	2024	2023	Change
Revenue	$431,911	$816,494	-0.5%
Expenses	$559,927	$673,684	-0.2%
Net Income	$-128,016	$142,810	-1.9%

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

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

$69,290

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
David Jameson Jr	Director	1.00	Director	$0	$0	$0
Cammie Dean	Secretary	1.00	Officer Director	$0	$0	$0
Anndrea Harris	Director	1.00	Director	$0	$0	$0
Ismael Duran	Treasurer	1.00	Officer Director	$0	$0	$0
Linda Deason	President	2.00	Officer Director	$0	$0	$0
Katie Parkey	Vice-President	1.00	Officer Director	$0	$0	$0
SueAnn Altman	Director	1.00	Director	$0	$0	$0
BC Gilbert	Director	1.00	Director	$0	$0	$0
Richard Young	Director	1.00	Director	$0	$0	$0
Stevie Jo Brown	Director	1.00	Director	$0	$0	$0
Jeffrey Gutierrez	Director	1.00	Director	$0	$0	$0
Jackie Phillips	Director	1.00	Director	$0	$0	$0
Diann Taylor	Director	1.00	Director	$0	$0	$0
Ann Arnold Ogden	Executive Director	40.00	Officer	$65,600	$3,690	$69,290

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
2025	No data	No data	No data	No data
2024	$431,911	$559,927	$63,555	$-128,016
2023	$816,494	$673,684	$214,152	$142,810
2022	$563,040	$605,049	$349,218	$-42,009
2021	$497,791	$452,616	$89,665	$45,175
2020	$442,324	$460,768	$48,045	$-18,444
2019	$501,762	$513,660	$65,733	$-11,898

Wichita Falls Alliance for Arts and Culture