Arts Council Wichita Falls Area Inc (EIN 752577651) - 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

1994

Legal Domicile

Principal Officer

Kristen Shiplet

Phone

9407672787

Tax Period

2024-06-01 to 2025-05-31

Arts Council Wichita Falls Area Inc, founded in 1994, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.4M in total revenue in fiscal year 2024. Revenue surged 28% from the prior year, signaling strong growth momentum. Net assets of $6.2M represent 54 months of operating reserves.

Mission

The purpose of the Arts Council is to encourage, advise, promote and coordinate cultural and educational organizations.

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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 $1,091,937

Program Service Revenue $81,496

Investment Income $10,012

Other Revenue $205,377

TOTAL REVENUE $1,388,822

Expense Breakdown

Grants Paid $72,387

Salaries & Benefits $541,146

Fundraising Expenses $392,133

Program Expenses $868,819

Other Expenses $908,359

TOTAL EXPENSES $1,521,892

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,388,822	$1,085,653	+0.3%
Expenses	$1,521,892	$1,224,712	+0.2%
Net Income	$-133,070	$-139,059	0.0%

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

Volunteers

250

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

$71,688

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Bart Bybee	Director	0.50	Director	$0	$0	$0
Foster Cranz	Director	0.50	Director	$0	$0	$0
Simeon Hendrix	Director	0.50	Director	$0	$0	$0
Elaine McKinney	Director	0.50	Director	$0	$0	$0
Tony Ramirez	Director	0.50	Director	$0	$0	$0
John Ferguson	Ex-Officio	0.50	Officer Director	$0	$0	$0
Cindy Hernandez	Director	0.50	Director	$0	$0	$0
Robert Parkey	Chair	0.50	Officer Director	$0	$0	$0
Lin Wang	Director	0.50	Director	$0	$0	$0
Darla Diltz	Director	0.50	Director	$0	$0	$0
Laura Lindemann	Treasurer	0.50	Officer Director	$0	$0	$0
Rick Hatcher	Director	0.50	Director	$0	$0	$0
Michelle Alexander	Director	0.50	Director	$0	$0	$0
Torin Halsey	Director	0.50	Director	$0	$0	$0
Kristen Shiplet	CEO	40.00	Officer	$71,688	$0	$71,688

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	$1,388,822	$1,521,892	$6,419,230	$-133,070
2024	$1,085,653	$1,224,712	$6,484,757	$-139,059
2023	$1,066,731	$1,126,792	$6,599,266	$-60,061
2022	$1,326,135	$994,693	$6,624,677	$331,442
2021	$1,181,821	$856,285	$6,615,379	$325,536
2020	$797,956	$913,595	$6,002,753	$-115,639
2019	$892,252	$959,912	$6,179,550	$-67,660
2018	$742,195	$1,038,268	$6,213,217	$-296,073

Arts Council Wichita Falls Area Inc