FRISCO ASSOCIATION FOR THE ARTS

EIN: 752798817 501(c)(3) Arts, Culture & Humanities

FRISCO, TX

Total Revenue
$545,671
Total Expenses
$500,801
Total Assets
$61,439
Net Assets
$61,439
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1996
Legal Domicile
TX
Principal Officer
KAREN WHITE
Phone
9728101028
Tax Period
2023-01-01 to 2023-12-31

FRISCO ASSOCIATION FOR THE ARTS, founded in 1996, is a small nonprofit in the Arts, Culture & Humanities sector that reported $546K in total revenue in fiscal year 2023. Revenue surged 226% from the prior year, signaling strong growth momentum. Expenses of $501K left a modest 8% surplus.

Mission

TO ADVANCE THE ARTS THROUGH ADVOCACY, OUTREACH AND EDUCATION, BUILDING A STRONGER COMMUNITY WITH THE ARTS.

Program Service Accomplishments

Program 1
Expenses: $464,184 Revenue: $28,395

Arts Tourism Grant: Nonprofit arts organizations who offer quality programs benefiting the citizens of Frisco and increasing arts tourism to Frisco qualify for the annual Arts Tourism grants. The...

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Arts Tourism Grant: Nonprofit arts organizations who offer quality programs benefiting the citizens of Frisco and increasing arts tourism to Frisco qualify for the annual Arts Tourism grants. The funding for these grants comes from a percentage of the Hotel Occupancy Tax, paid for by visitors to Frisco and approved by the Frisco City Council. The City of Frisco's Arts Tourism grant is managed by Frisco Arts Foundation. FRISCO ARTS WALK AND RUN: Support the ARTS and get heart healthy at the 3rd Annual Frisco Arts Walk and Run!! This family-friendly, immersive arts-themed 5K takes place along the beautiful grounds of HALL Park in Frisco, TX. Runners will be surrounded by the inspiring, award-winning sculptures of the HALL Collection, and the route will include pop-up music, art, theatre, and dance from our local arts community! Everyone will receive an arts-themed finisher medal, and top race winners will receive a unique art piece designed by local artists.Ladies Who Launch Grant Program: We recognize women as capable and driven entrepreneurs with great potential for success in the competitive marketplace. We celebrate women in business and welcome the positive impact small businesses in the arts have in our community. This grant is funded by generous donors of the Frisco Arts Foundation. We hosted a Grant celebration for our winners in 2022.

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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 $517,276
Program Service Revenue $28,395
Investment Income $0
Other Revenue $0
TOTAL REVENUE $545,671

Expense Breakdown

Grants Paid $433,334
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $464,184
Other Expenses $67,467
TOTAL EXPENSES $500,801

Year-over-Year Comparison

2023 2022 Change
Revenue $545,671 $167,189 +2.3%
Expenses $500,801 $169,357 +2.0%
Net Income $44,870 $-2,168 -21.7%
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

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Liquidity & Cash Position

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Governance

Voting Members
7
Independent Members
7
Employees
N/A
Volunteers
30

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
4
$0
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRAD HUFF Director 1.00
Director
$0 $0 $0
KAREN WHITE Chairman 1.00
Officer Director
$0 $0 $0
WILL ODOM VICE CHAIRMAN 1.00
Officer Director
$0 $0 $0
DONNA SCHMITTLER Secretary 1.00
Officer Director
$0 $0 $0
ELIZABETH MORROW Director 1.00
Director
$0 $0 $0
WILL PEARCE Director 1.00
Director
$0 $0 $0
IVY SUN Treasurer 1.00
Officer 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 No data No data No data No data
2023 $545,671 $500,801 $61,439 $44,870
2022 $167,189 $169,357 $48,591 $-2,168
2021 $210,688 $214,643 $48,780 $-3,955
2020 $248,997 $245,192 $38,198 $3,805
2019 $386,650 $376,558 $50,656 $10,092
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