FRANK PHILLIPS COLLEGE DEVELOPMENT CORPORATION (EIN 751765603) - 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

1980

Legal Domicile

Principal Officer

KATIE LINGOR

Phone

8064574200

Tax Period

2023-09-01 to 2024-08-31

FRANK PHILLIPS COLLEGE DEVELOPMENT CORPORATION, founded in 1980, is a small nonprofit that reported $361K in total revenue in fiscal year 2023. Revenue surged 380% from the prior year, signaling strong growth momentum. The organization ran a surplus of $205K, a strong 57% operating margin.

Mission

TO STRENGTHEN AND CONTRIBUTE TO THE EDUCATIONAL MISSION OF FRANK PHILLIPS COLLEGE BY SEEKING, RECEIVING, AND DISTRIBUTING GIFTS, BEQUESTS, AND DONATIONS AND TO ACCOUNT FOR AND MANAGE ASSETS SUBMITTED TO THE CORPORATION ON BEHALF OF FRANK PHILLIPS COLLEGE AND THE RESIDENTS OF ITS SERVICE AREA, THE TOP NINE COUNTIES OF THE TEXAS PANHANDLE.

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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 $41,474

Program Service Revenue $0

Investment Income $319,949

Other Revenue $0

TOTAL REVENUE $361,423

Expense Breakdown

Grants Paid $135,481

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $146,070

Other Expenses $21,177

TOTAL EXPENSES $156,658

Year-over-Year Comparison

	2023	2022	Change
Revenue	$361,423	$75,259	+3.8%
Expenses	$156,658	$191,751	-0.2%
Net Income	$204,765	$-116,492	-2.8%

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

N/A

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
KATIE LINGOR	CHAIR	0.50	Officer Director	$0	$0	$0
MARLENE MCKINNEY	SECRETARY	0.50	Officer Director	$0	$0	$0
GLENDON FORGEY	BOARD MEMBER	0.50	Director	$0	$0	$0
JACKIE BRAND	BOARD MEMBER	0.50	Director	$0	$0	$0
JUD HICKS	BOARD MEMBER	0.50	Director	$0	$0	$0
JESSE HEREDIA	BOARD MEMBER	0.50	Director	$0	$0	$0
COLLIN ARCHER	BOARD MEMBER	0.50	Director	$0	$0	$0
ROY GURLEY	BOARD MEMBER	0.50	Director	$0	$0	$0
CRAIG JONES	BOARD MEMBER	0.50	Director	$0	$0	$0
SCOTT MILLS	BOARD MEMBER	0.50	Director	$0	$0	$0
LORA BAGGERMAN	BOARD MEMBER	0.50	Director	$0	$0	$0
DAVID BRINK	BOARD MEMBER	0.50	Director	$0	$0	$0
SHANNON CARROLL	BOARD MEMBER	0.50	Director	$0	$0	$0
JAIMEE COBURN	BOARD MEMBER	0.50	Director	$0	$0	$0
DERRICK CUMMINGS	BOARD MEMBER	0.50	Director	$0	$0	$0
BRITTNI HARPER	BOARD MEMBER	0.50	Director	$0	$0	$0
MONICA HERNANDEZ	BOARD MEMBER	0.50	Director	$0	$0	$0
DEBY JUDD	BOARD MEMBER	0.50	Director	$0	$0	$0
DELINDA KING	BOARD MEMBER	0.50	Director	$0	$0	$0
CASSI LAXTON	BOARD MEMBER	0.50	Director	$0	$0	$0
KAREN METZGER	BOARD MEMBER	0.50	Director	$0	$0	$0
VERONICA MURILLO	BOARD MEMBER	0.50	Director	$0	$0	$0
JODY NOLEN	BOARD MEMBER	0.50	Director	$0	$0	$0
KAMRON NONHOF	BOARD MEMBER	0.50	Director	$0	$0	$0
LILLIAN SCHWALK	BOARD MEMBER	0.50	Director	$0	$0	$0
ANGELIA SPENCER	BOARD MEMBER	0.50	Director	$0	$0	$0
MICHELE STEVENS	BOARD MEMBER	0.50	Director	$0	$0	$0
ELIZABETH SUMMERS	BOARD MEMBER	0.50	Director	$0	$0	$0
AUTUMN WHATLEY	BOARD MEMBER	0.50	Director	$0	$0	$0
KRISTA WILSON	BOARD MEMBER	0.50	Director	$0	$0	$0
JENNIFER MCDANIEL	BOARD MEMBER	0.50	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	$361,423	$156,658	$3,011,867	$204,765
2023	$75,259	$191,751	$2,411,754	$-116,492
2022	$60,303	$121,159	$2,345,038	$-60,856
2021	$88,222	$48,889	$2,602,265	$39,333
2020	$95,882	$60,622	$2,111,695	$35,260
2019	$69,948	$59,188	$1,883,792	$10,760
2018	$81,209	$54,776	$1,884,785	$26,433

FRANK PHILLIPS COLLEGE DEVELOPMENT CORPORATION