TEXAS PANHANDLE HERITAGE FOUNDATION

EIN: 751083514 501(c)(3) Arts, Culture & Humanities

CANYON, TX

Total Revenue
$1,547,234
Total Expenses
$2,086,623
Total Assets
$1,840,570
Net Assets
$1,829,458
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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
TX
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 PRODUCE THE MUSICAL DRAMA "TEXAS" 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%)

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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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Governance

Voting Members
18
Independent Members
18
Employees
120
Volunteers
18

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
5
$0
Total Directors
18
$0
Key Employees
0
$0
Highest Compensated
0
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
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