FAIR PARK FIRST

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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

2018

Legal Domicile

Principal Officer

ALYSSA ARNOLD

Phone

2146708400

Tax Period

2023-10-01 to 2024-09-30

FAIR PARK FIRST, founded in 2018, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $18.3M in total revenue in fiscal year 2023. Revenue decreased 15% compared to the prior year. Expenses of $22.5M exceeded revenue, resulting in a 23% operating deficit.

Mission

THE PURPOSES FOR WHICH THE CORPORATION IS ORGANIZED ARE: A) TO OPERATE EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL, SCIENTIFIC OR LITERARY PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE CODE, BY ENGAGING DIRECTLY IN SUPPORT OF SUCH PURPOSES OR BY MAKING DISTRIBUTIONS TO OTHER ORGANIZATIONS FOR USE, BY THE DISTRUTEES, IN SUPPORT OF SUCH PURPOSES; B) TO OVERSEE OPERATIONS AND MANAGEMENT OF HISTORIC AND ARCHITECTURALLY SIGNIFICANT LANDMARKS, PUBLIC PARKS, AND PUBLIC ENTERTAINMENT VENUES AND RELATED PUBLIC EDUCATIONAL FACILITIES; AND C) TO ENGAGE IN ANY AND ALL LAWFUL ACTIVITIES INCIDENTAL TO THE FOREGOING PURPOSES, EXCEPT AS OTHERWISE RESTRICTED HEREIN. THE CORPORATION SHALL NOT CARRY ON, OTHER THAN AS AN INSUBSTANTIAL PART OF ITS ACTIVITIES, ACTIVITIES THAT ARE NOT IN FURTHERANCE OF ITS PURPOSES.

Program Service Accomplishments

Program 1

Expenses: $18,845,484 Revenue: $18,347,888

FAIR PARK FIRST'S, A TEXAS NONPROFIT'S MISSION IS TO RESTORE, REVITALIZE, AND RENEW FAIR PARK, A 138-YEAR-OLD, 277-ACRE NATIONAL HISTORIC LANDMARK, IN ORDER TO ATTRACT ATTENTION FROM THE LOCAL...

FAIR PARK FIRST'S, A TEXAS NONPROFIT'S MISSION IS TO RESTORE, REVITALIZE, AND RENEW FAIR PARK, A 138-YEAR-OLD, 277-ACRE NATIONAL HISTORIC LANDMARK, IN ORDER TO ATTRACT ATTENTION FROM THE LOCAL COMMUNITY, THE REGION, AND THE NATION. AS THE CONSERVATOR AND MANAGER OF THIS CITY OF DALLAS PROPERTY, FAIR PARK FIRST FOCUSES ON THE HISTORIC PRESERVATION OF BUILDINGS AND ART, ALONG WITH THE RESTORATION, OPERATION, AND MAINTENANCE OF THE ENTIRE CAMPUS. THE ORGANIZATION ALSO ENGAGES IN ACTIVATION THROUGH MAJOR EVENTS AND LOCAL COMMUNITY PROGRAMMING. FAIR PARK HAS RECEIVED EXTENSIVE ACCOLADES THROUGHOUT ITS HISTORY. IT WAS THE SITE OF THE 1936 TEXAS CENTENNIAL EXPOSITION AND THE 1936 WORLD'S FAIR, AND IT BOASTS THE LARGEST COLLECTION OF ART DECO ART AND ARCHITECTURE IN THE WORLD. RECOGNIZED AS A NATIONAL HISTORIC LANDMARK, IT STANDS ALONGSIDE THE ALAMO AS A SIGNIFICANT SITE. AS AN EPICENTER OF ART DECO AND "TEXANIC" DESIGN, WITH BUILDINGS, MURALS, AND SCULPTURES CREATED BY RENOWNED ARTISTS, ARCHITECTS, AND CRAFTSMEN, IT IS TRULY A CROWN JEWEL OF TEXAS. SINCE ITS INCEPTION IN 2019, FAIR PARK FIRST HAS SECURED OVER $400 MILLION IN PUBLIC AND PHILANTHROPIC INVESTMENTS TO RESTORE BUILDINGS AND ART, CREATE GREENSPACE, AND REJUVENATE THE PARK FOR A NEW CHAPTER IN ITS LONG HISTORY.

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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 $8,300,481

Program Service Revenue $0

Investment Income $346,391

Other Revenue $9,701,016

TOTAL REVENUE $18,347,888

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,933,701

Fundraising Expenses $335,451

Program Expenses $18,845,484

Other Expenses $16,300,091

TOTAL EXPENSES $22,533,792

Year-over-Year Comparison

	2023	2022	Change
Revenue	$18,347,888	$21,615,220	-0.2%
Expenses	$22,533,792	$19,653,185	+0.1%
Net Income	$-4,185,904	$1,962,035	-3.1%

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

$303,363

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAN TORPEY	AUDIT COMMITTEE CHARI	1.25	Director	$0	$0	$0
ANN BARBIER-MUELLER	DIRECTOR	1.25	Director	$0	$0	$0
MARGO RAMIREZ KEYS	DEVELOPMENT COMMITTEE CHAIR	1.25	Director	$0	$0	$0
VELETTA FORSYTHE LILL	BOARD CHAIR	15.00	Director	$0	$0	$0
ROBERT LUXEN	SECRETARY	1.25	Director	$0	$0	$0
CRISTINA LYNCH	DIRECTOR	1.25	Director	$0	$0	$0
JASON BROWN	VICE CHAIR	1.25	Director	$0	$0	$0
KIMBERLY SHAW	DIRECTOR	1.25	Director	$0	$0	$0
CHIRS BOWERS	GOVERNANCE COMMITTEE CHAIR	1.25	Director	$0	$0	$0
LINCOLN STEPHENS	DIRECTOR	1.25	Director	$0	$0	$0
MARIBEL MONCADA	DIRECTOR	1.25	Director	$0	$0	$0
REV TODD ATKINS	DIRECTOR	1.25	Director	$0	$0	$0
CHELBY SANDERS	FACILITIES COMMITTEE CO-CHAIR	1.25	Director	$0	$0	$0
LUBBOCK SMITH	DIRECTOR	1.25	Director	$0	$0	$0
MATT ORWIG	DIRECTOR	1.25	Director	$0	$0	$0
ZAIDA BASORA	FACILITIES COMMITTEE CO-CHAIR	1.25	Director	$0	$0	$0
JON WOKENSTEIN	TREASURER	1.25	Director	$0	$0	$0
ALYSSA ARNOLD	INTERIM EXECUTIVE DIRECTOR	40.00	Officer	$114,358	$0	$114,358
BRIAN LUALLEN	CHIEF EXECUTIVE DIRECTOR	40.00	Officer	$189,005	$0	$189,005

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	$18,347,888	$22,533,792	$16,814,531	$-4,185,904
2023	$21,615,220	$19,653,185	$27,545,087	$1,962,035
2022	$21,746,910	$17,596,077	$15,328,548	$4,150,833
2021	$14,347,734	$11,741,060	$5,927,418	$2,606,674
2020	$10,844,908	$11,139,102	$3,324,408	$-294,194
2019	$6,981,231	$8,363,739	$1,257,318	$-1,382,508