Wichita Falls Area Community Foundation
- Assets
- $76.0m
- Revenue
- $8.8m
- Investments
- $0.0
- Employees
- 5
- Location
- Wichita Falls, TX
- Founding
- 07/1999
- Data as of
- 12/2023
- EIN
- 75-2817894
Organization Overview
Wichita Falls Area Community Foundation is located in Wichita Falls, TX. The organization was established in 1999. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2023, Wichita Falls Area Community Foundation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wichita Falls Area Community Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Wichita Falls Area Community Foundation generated $8.8m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $6.6m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (5.2%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Wichita Falls Area Community Foundation has awarded 602 individual grants totaling $26,119,711. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ENHANCE THE QUALITY OF LIFE IN THE WICHITA FALLS AREA THROUGH THE PROMOTION AND SUPPORT OF CHARITABLE GIVING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WICHITA FALLS AREA COMMUNITY FOUNDATION SEEKS TO PROVIDE GRANTS TO VARIOUS QUALIFIED ORGANIZATIONS AS APPROVED BY THE BOARD OF DIRECTORS THROUGH THE CULTIVATION, INVESTMENT, AND ESTABLISHMENT OF CONTRIBUTED FUNDS IN ORDER TO PROVIDE LONG-TERM INCOME AND FUND GROWTH FOR THE PROVISION OF GRANTS AND SUPPORT OF COMMUNITY ORGANIZATIONS, NOW AND IN THE FUTURE. GRANTS MADE IN THE CURRENT YEAR BENEFITTED MORE THAN 850 ORGANIZATIONS AND INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Denise Moffat Chairman | OfficerTrustee | 1 | $0 |
Leo Lane Vice-Chairman | OfficerTrustee | 1 | $0 |
Warren Ayres Sec./treas. | OfficerTrustee | 1 | $0 |
Darrell Coleman Director | Trustee | 1 | $0 |
Carla Bolin Director | Trustee | 1 | $0 |
Mark Fleming Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,284,630 |
| Noncash contributions included in lines 1a–1f | $4,102,507 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,284,630 |
| Total Program Service Revenue | $0 |
| Investment income | $1,509,472 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $26,102 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$48,954 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,784,375 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,150,459 |
| Grants and other assistance to domestic individuals. | $634,591 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $150,200 |
| Compensation of current officers, directors, key employees. | $45,060 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $258,999 |
| Pension plan accruals and contributions | $18,102 |
| Other employee benefits | $10,012 |
| Payroll taxes | $31,407 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $32,060 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,789 |
| Office expenses | $5,075 |
| Information technology | $23,002 |
| Royalties | $0 |
| Occupancy | $57,219 |
| Travel | $7,221 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,021 |
| Insurance | $7,593 |
| All other expenses | $2,171 |
| Total functional expenses | $6,567,955 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,296,653 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $107,370 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,695 |
| Net Land, buildings, and equipment | $33,975 |
| Investments—publicly traded securities | $73,498,359 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $98,310 |
| Total assets | $76,040,362 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $47,144,451 |
| Net assets with donor restrictions | $28,895,911 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $76,040,362 |
Grants Awarded
Over the last fiscal year, Wichita Falls Area Community Foundation has awarded $4,964,756 in support to 118 organizations.
| Grant Recipient | Amount |
|---|---|
ANAG INC PURPOSE: Community Development | $7,500 |
ADVANCEMENT FOUNDATION - CATHOLIC DIOCESE OF FT WORTH PURPOSE: Religion | $10,000 |
ARCHER COUNTY MUSEUM & ARTS CENTER PURPOSE: Arts, Culture | $10,110 |
ARTS COUNCIL - THE FORUM PURPOSE: Arts, Culture | $6,700 |
ARTS COUNCIL WICHITA FALLS AREA INC PURPOSE: Arts, Culture | $6,795 |
BENJAMIN VFD PURPOSE: Fire Prevention | $5,995 |