Wichita Falls Area Community Foundation
- Assets
- $80.5m
- Revenue
- $8.6m
- Investments
- $0.0
- Employees
- 5
- Location
- Wichita Falls, TX
- Founding
- 07/1999
- Data as of
- 12/2021
- 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 12/2021, 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 12/2021, Wichita Falls Area Community Foundation generated $8.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $7.8m during the year ending 12/2021. While expenses have increased by 7.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Wichita Falls Area Community Foundation has awarded 369 individual grants totaling $15,545,343. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO FUNCTION AS A COMMUNITY FOUNDATION AND PROVIDE GRANTS FOR CHARITABLE, RELIGIOUS, SCIENTIFIC, PUBLIC SAFETY, LITERARY OR EDUCATIONAL PURPOSES TO ORGANIZATIONS THAT QUALIFY AS EXEMPT 501(C)(3) ORGANIZATIONS.
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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leslie Schaffner President | OfficerTrustee | 40 | $140,000 |
Nancy Marks Chairman | OfficerTrustee | 1 | $0 |
Darrell Coleman Sec./treas. | OfficerTrustee | 1 | $0 |
Denise Moffat Vice-Chairman | OfficerTrustee | 1 | $0 |
Carla Bolin Director | Trustee | 1 | $0 |
Tim Cornelius 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 | $7,969,740 |
| Noncash contributions included in lines 1a–1f | $3,781,117 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,969,740 |
| Total Program Service Revenue | $0 |
| Investment income | $971,043 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $114,817 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$479,502 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,576,098 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,562,053 |
| Grants and other assistance to domestic individuals. | $490,460 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $140,000 |
| Compensation of current officers, directors, key employees. | $42,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $233,906 |
| Pension plan accruals and contributions | $13,613 |
| Other employee benefits | $14,672 |
| Payroll taxes | $28,766 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $36,581 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $1,235 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $10,223 |
| Office expenses | $58,202 |
| Information technology | $5,003 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,763 |
| 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 | $11,501 |
| Insurance | $9,199 |
| All other expenses | $2,032 |
| Total functional expenses | $7,779,015 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,418,094 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $87,430 |
| 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 | $7,899 |
| Net Land, buildings, and equipment | $61,978 |
| Investments—publicly traded securities | $75,892,495 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $39,252 |
| Total assets | $80,507,148 |
| 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 | $48,728,728 |
| Net assets with donor restrictions | $31,778,420 |
| 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 | $80,507,148 |
Grants Awarded
Over the last fiscal year, Wichita Falls Area Community Foundation has awarded $6,476,982 in support to 120 organizations.
| Grant Recipient | Amount |
|---|---|
Dallas, TX PURPOSE: Education | $3,007,000 |
Dallas, TX PURPOSE: Religion/Education | $250,000 |
Wichita Falls, TX PURPOSE: Education | $217,200 |
Wichita Falls, TX PURPOSE: Educational | $200,000 |
Wichita Falls, TX PURPOSE: Education | $183,800 |
FIRST PRESBYTERIAN CHURCH PURPOSE: Religion | $152,050 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Wichita Falls Area Community Foundation has recieved totaling $305,527.
| Awarding Organization | Amount |
|---|---|
Priddy Foundation Wichita Falls, TX PURPOSE: VOLUNTEER FIRE DEPARTMENT FUND 2021 & 2022 | $200,000 |
Priddy Foundation Wichita Falls, TX PURPOSE: TEXOMA GIVES 2021 | $30,000 |
Bryant Edwards Foundation Inc Wichita Falls, TX PURPOSE: EDWARDS DONOR ADVISED FUND | $20,000 |
J S Bridwell Foundation Wichita Falls, TX PURPOSE: TEXOMA GIVES | $13,334 |
Bryant Edwards Foundation Inc Wichita Falls, TX PURPOSE: DAY OF GIVING | $11,667 |
J S Bridwell Foundation Wichita Falls, TX PURPOSE: BRONZE STATUE | $10,000 |
Endowment Analysis
| Beg. Balance | $27,024,731 |
| Earnings | $4,470,218 |
| Admin Expense | $206,090 |
| Net Contributions | $415,850 |
| Other Expense | $2,892 |
| Grants | $828,239 |
| Ending Balance | $30,873,578 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Houston Jewish Community Foundation Houston, TX | $219,913,135 | $24,014,170 |
El Paso Community Foundation El Paso, TX | $84,044,216 | $21,715,289 |
Dallas Jewish Community Foundation Dallas, TX | $257,889,567 | $62,022,140 |
Excellerate Foundation Rogers, AR | $1,422,117 | $18,582,776 |
Community Foundation Of Acadiana Lafayette, LA | $154,976,502 | $32,964,309 |
East Texas Communties Foundation Inc Tyler, TX | $137,619,988 | $26,912,059 |
Permian Basin Area Foundation Midland, TX | $279,717,835 | $33,055,231 |
Coastal Bend Community Foundation Corpus Christi, TX | $108,771,206 | $10,804,915 |
Community Foundation Of Abilene Abilene, TX | $138,667,981 | $15,269,593 |
Community Foundation Of North Louisiana Shreveport, LA | $154,534,783 | $16,289,106 |
Albuquerque Community Foundation Albuquerque, NM | $124,587,657 | $15,721,383 |
Wichita Falls Area Community Foundation Wichita Falls, TX | $80,507,148 | $8,576,098 |