TEXAS PANHANDLE HERITAGE FOUNDATION

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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

1961

Legal Domicile

Principal Officer

KAREN COREA

Phone

8066552181

Tax Period

2023-10-01 to 2024-09-30

TEXAS PANHANDLE HERITAGE FOUNDATION, founded in 1961, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.5M in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year. Expenses of $2.1M exceeded revenue, resulting in a 35% operating deficit.

Mission

TO PRESERVE, RECORD AND RECREATE THE STORY OF THE HISTORY OF THE PIONEERS OF THE TEXAS PANHANDLE BY THE PRODUCTION OF A MUSICAL DRAMA IN THE OUTDOOR THEATRE LOCATED IN PALO DURO CANYON STATE PARK.

Program Service Accomplishments

Program 1

Expenses: $1,555,721 Revenue: $1,321,439

TO PRESERVE, RECORD AND RECREATE THE STORY OF THE HISTORY OF THE PIONEERS OF THE TEXAS PANHANDLE BY THE PRODUCTION OF A MUSICAL DRAMA IN THE OUTDOOR THEATRE LOCATED IN PALO DURO CANYON STATE PARK.

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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 (2023)

Revenue Breakdown

Contributions & Grants $182,141

Program Service Revenue $1,321,439

Investment Income $25,166

Other Revenue $18,488

TOTAL REVENUE $1,547,234

Expense Breakdown

Grants Paid $9,000

Salaries & Benefits $912,754

Fundraising Expenses $171,237

Program Expenses $1,555,721

Other Expenses $1,164,869

TOTAL EXPENSES $2,086,623

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,547,234	$1,775,229	-0.1%
Expenses	$2,086,623	$1,824,364	+0.1%
Net Income	$-539,389	$-49,135	+10.0%

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

120

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
MARK HODGES	DIRECTOR	N/A	Director	$0	$0	$0
JED WELCH	SECRETARY	N/A	Officer Director	$0	$0	$0
MARCIA KISER	DIRECTOR	N/A	Director	$0	$0	$0
MIKE STANDEFER	DIRECTOR	N/A	Director	$0	$0	$0
KAREN COREA	CHAIR	N/A	Officer Director	$0	$0	$0
KAREN HARBAUGH	DIRECTOR	N/A	Director	$0	$0	$0
SARAH HUDSON	DIRECTOR	N/A	Director	$0	$0	$0
SHELLEY CUNNINGHAM	TREASURER	N/A	Officer Director	$0	$0	$0
BRYANT COON	VICE CHAIR	N/A	Officer Director	$0	$0	$0
CONEY BURGESS	DIRECTOR	N/A	Director	$0	$0	$0
CORI BURNS	DIRECTOR	N/A	Director	$0	$0	$0
TYSON TRICE	DIRECTOR	N/A	Director	$0	$0	$0
ROGER REMLINGER	DIRECTOR	N/A	Director	$0	$0	$0
KASHION SMITH	DIRECTOR	N/A	Director	$0	$0	$0
WALTER WENDLER	DIRECTOR	N/A	Director	$0	$0	$0
DR ANDREW HAY	EXECUTIVE DI	N/A	Officer	$0	$0	$0
BUDDY STEVENS	DIRECTOR	N/A	Director	$0	$0	$0
LILA VARS	DIRECTOR	N/A	Director	$0	$0	$0
DAVID WHEELER	DIRECTOR	N/A	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	$1,547,234	$2,086,623	$1,840,570	$-539,389
2023	$1,775,229	$1,824,364	$2,281,388	$-49,135
2022	$1,480,874	$1,895,571	$2,403,657	$-414,697
2021	$2,832,442	$1,382,566	$2,876,376	$1,449,876
2020	$200,981	$644,109	$1,432,124	$-443,128