Civic Intelligence

Frank Phillips College Development Corporation

990 • Fiscal year 2021 • EIN 75-1765603

Sep 01, 2020 to Aug 31, 2021 • Filed on Mar 09, 2021

Organization ProfileWWW.FPCTX.EDU/INSIDEFPC/DEVELOPMENTCOR
PO Box 5118Borger, TX 79008-5118

(806) 457-4200

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

35th percentile

0.02x

Higher debt load relative to assets than 35% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

80th percentile

0.52x

Higher debt load relative to revenue than 80% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

84th percentile

45%

Higher net margin than 84% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

71st percentile

23%

Faster asset growth than 71% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

22nd percentile

-8.0%

Faster revenue growth than 22% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets35th percentile

Assets

Up

$2,602,265

Up $490,570 (+23%) from 2020

Net Assets

Up

$2,556,231

Up $458,945 (+22%) from 2020

Liabilities

Up

$46,034

Up $31,625 (+219%) from 2020

Revenue And Expenses
Liabilities / Revenue80th percentileNet Margin84th percentile

Revenue

Down

$88,222

Down $7,660 (-8.0%) from 2020

Expenses

Down

$48,889

Down $11,733 (-19%) from 2020

Net Income

Up

$39,333

Up $4,073 (+12%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth71st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $1,034,205Liabilities 2011: $0Net Assets 2011: $1,034,2052011Assets 2012: $1,169,814Liabilities 2012: $0Net Assets 2012: $1,169,8142012Assets 2013: $1,330,051Liabilities 2013: $0Net Assets 2013: $1,330,0512013Assets 2014: $1,542,009Liabilities 2014: $0Net Assets 2014: $1,542,0092014Assets 2015: $1,517,053Liabilities 2015: $0Net Assets 2015: $1,517,0532015Assets 2016: $1,592,484Liabilities 2016: $0Net Assets 2016: $1,592,4842016Assets 2017: $1,716,652Liabilities 2017: $0Net Assets 2017: $1,716,6522017Assets 2018: $1,884,785Liabilities 2018: $0Net Assets 2018: $1,884,7852018Assets 2019: $1,883,792Liabilities 2019: $0Net Assets 2019: $1,883,7922019Assets 2020: $2,111,695Liabilities 2020: $14,409Net Assets 2020: $2,097,2862020Assets 2021: $2,602,265Liabilities 2021: $46,034Net Assets 2021: $2,556,2312021Assets 2022: $2,345,038Liabilities 2022: $93,242Net Assets 2022: $2,251,7962022Assets 2023: $2,411,754Liabilities 2023: $0Net Assets 2023: $2,411,7542023Assets 2024: $3,011,867Liabilities 2024: $152,690Net Assets 2024: $2,859,1772024

Highlighted filing

2021

Assets$2,602,265
Liabilities$46,034
Net Assets$2,556,231
Open 2021 Filing

Operations Trend

Revenue Growth22nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400K$200K$0-$200KRevenue 2011: $92,782Expenses 2011: $34,620Net Income 2011: $58,1622011Expenses 2012: $28,8872012Expenses 2013: $36,0922013Revenue 2014: $72,785Expenses 2014: $38,970Net Income 2014: $33,8152014Revenue 2015: $89,223Expenses 2015: $53,855Net Income 2015: $35,3682015Revenue 2016: $44,347Expenses 2016: $45,960Net Income 2016: -$1,6132016Revenue 2017: $68,667Expenses 2017: $52,148Net Income 2017: $16,5192017Revenue 2018: $81,209Expenses 2018: $54,776Net Income 2018: $26,4332018Revenue 2019: $69,948Expenses 2019: $59,188Net Income 2019: $10,7602019Revenue 2020: $95,882Expenses 2020: $60,622Net Income 2020: $35,2602020Revenue 2021: $88,222Expenses 2021: $48,889Net Income 2021: $39,3332021Revenue 2022: $60,303Expenses 2022: $121,159Net Income 2022: -$60,8562022Revenue 2023: $75,259Expenses 2023: $191,751Net Income 2023: -$116,4922023Revenue 2024: $361,423Expenses 2024: $156,658Net Income 2024: $204,7652024

Highlighted filing

2021

Revenue$88,222
Expenses$48,889
Net Income$39,333
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2020 to Aug 31, 2021
Signed
Mar 9, 2021
Return Version
2020v4.0
Gross Receipts
$88,222
Mission and Program Overview

Mission

To strengthen and contribute to the educational mission of frank phillips college by seeking, receiving, and distributing gifts, bequests, and donations, and to account for and manage assets submitted to the corporation on behalf of frank phillips college and the residents of its service area, the ten northernmost counties of the texas panhandle.

To strengthen and contribute to the educational mission of frank phillips college by seeking, receiving, and distributing gifts, bequests, and donations and to account for and manage assets submitted to the corporation on behalf of frank phillips college and the residents of its service area, the ten northernmost counties of the texas panhandle.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,572,084$2,063,154▲ $491,070
Savings and Temporary Cash Investments$462,495$307,064▼ $155,431
Cash and Non-Interest-Bearing Accounts$76,906$231,837▲ $154,931
Total Assets$2,111,695$2,602,265▲ $490,570
Other Assets Total$210$210→ $0
Liabilities
Other Liabilities$14,409$46,034▲ $31,625
Total Liabilities$14,409$46,034▲ $31,625
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,097,286$2,556,231▲ $458,945
Total Net Assets Fund Balance$2,097,286$2,556,231▲ $458,945
Total Liabilities and Net Assets / Fund Balance$2,111,695$2,602,265▲ $490,570
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Craig JonesChair
Julia KaschVice Chair
Barbara R JohnsonBoard Member
Bob McelreathBoard Member
Cindy CorneliusBoard Member
Gary SchneckBoard Member
Jo Ann KuhrtBoard Member
Mary DudleyBoard Member
Robin AdkinsBoard Member
Ron MaxwellBoard Member
Roy GurleyBoard Member
Scott MillsBoard Member
Scott RadachBoard Member
Tommy CountsBoard Member
Marlene MckinneySec/board of
Dr Hugh GoldstonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$13,620
Program Service Revenue
$0
Investment Income
$74,602
Other Revenue
$0
All Other Contributions
$13,620
Change in Net Assets
$39,333
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$46,034
Other Expenses$2,855
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$46,034--$46,034
Fees for Services Accounting$1,428$1,427-$2,855
Total Functional Expenses$47,462$1,427$0$48,889
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Frank Phillips Junior College$46,034
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The form 990 for this organization was prepared by an outside cpa firm. Each board member is provided with a copy of form 990 prior to filing. The form 990 is reviewed and approved prior to filing by the board.”

Form 990, Page 6, Part VI, Line 19

“The organization's governing documents are available to the public upon request. The organization's financial statements are available to the public through the form 990.”

Filing and Contact Details

Filer

Filer Name
Frank Phillips College Development
EIN
75-1765603
Phone
8064574200
Address
PO BOX 5118, BORGER, TX 79008-5118

Signing Officer

Name
Craig Jones
Title
Chair
Phone
8064574200
Signed
2021-03-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Craig Jones
Formed
1980
Legal Domicile
TX
Voting Board Members
16
Independent Board Members
16
Employees
0

Preparer

Firm
Cmms an Atlas Navigators Firm
Address
801 S FILLMORE ST STE 600, AMARILLO, TX 79101
Preparer
Gary D Mitchell
Phone
8063736661
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To strengthen and contribute to the educational mission of frank phillips college by seeking, receiving, and distributing gifts, bequests, and donations, and to account for and manage assets submitted to the corporation on behalf of frank phillips college and the residents of its service area, the ten northernmost counties of the texas panhandle.”

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IRS990ScheduleA/FactsAndCircumstancesTestTxt0FRANK PHILLIPS COLLEGE DEVELOPMENT CORPORATION IS RECOGNIZED AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3). IT WAS CREATED WITH THE SOLE PURPOSE TO SUPPORT THE EDUCATIONAL ACTIVITIES OF FRANK PHILLIPS JUNIOR COLLEGE, A COLLEGE ESTABLISHED IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS. FOR THE TAXABLE YEAR 2020, TOTAL PUBLIC SUPPORT TEST WAS 22.08%. THE ORGANIZATION CONTINUES TO RECEIVE DONATIONS FROM THE GENERAL PUBLIC FOR SOURCES OF SUPPORT ON A CONTINUOUS BASIS. THE ORGANIZATION'S GOVERNING BODY IS COMPOSED OF 16 UNRELATED BOARD MEMBERS WITH DIVERSE BACKGROUND INTERESTS THAT MEET ON A MONTHLY BASIS TO DISCUSS PERTINENT MATTERS FOR THE BENEFIT OF THE COLLEGE.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0FRANK PHILLIPS COLLEGE DEVELOPMENT CORPORATION IS RECOGNIZED AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3). IT WAS CREATED WITH THE SOLE PURPOSE TO SUPPORT THE EDUCATIONAL ACTIVITIES OF FRANK PHILLIPS JUNIOR COLLEGE, A COLLEGE ESTABLISHED IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS. FOR THE TAXABLE YEAR 2020, TOTAL PUBLIC SUPPORT TEST WAS 22.08%. THE ORGANIZATION CONTINUES TO RECEIVE DONATIONS FROM THE GENERAL PUBLIC FOR SOURCES OF SUPPORT ON A CONTINUOUS BASIS. THE ORGANIZATION'S GOVERNING BODY IS COMPOSED OF 16 UNRELATED BOARD MEMBERS WITH DIVERSE BACKGROUND INTERESTS THAT MEET ON A MONTHLY BASIS TO DISCUSS PERTINENT MATTERS FOR THE BENEFIT OF THE COLLEGE.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 17A
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt019516
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0139303
IRS990ScheduleA/PublicSupportCY170Pct00.22080
IRS990ScheduleA/PublicSupportPY170Pct00.20560
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt018735
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt012905
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt093061
IRS990ScheduleA/TotalSupportAmt0232364
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt046034
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO FRANK PHILLIPS JUNIOR COLLEGE
IRS990ScheduleD/TotalLiabilityAmt046034
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt046034
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0ACADEMIC SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0176
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0SCHEDULE I, PART III ONCE AWARDED, SCHOLARSHIPS ARE PAID BY THE DEVELOPMENT CORPORATION DIRECTLY TO FRANK PHILLIPS COLLEGE UPON ENROLLMENT BY THE AWARD RECIPIENTS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 4, PART IV
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO STRENGTHEN AND CONTRIBUTE TO THE EDUCATIONAL MISSION OF FRANK PHILLIPS COLLEGE BY SEEKING, RECEIVING, AND DISTRIBUTING GIFTS, BEQUESTS, AND DONATIONS, AND TO ACCOUNT FOR AND MANAGE ASSETS SUBMITTED TO THE CORPORATION ON BEHALF OF FRANK PHILLIPS COLLEGE AND THE RESIDENTS OF ITS SERVICE AREA, THE TEN NORTHERNMOST COUNTIES OF THE TEXAS PANHANDLE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 FOR THIS ORGANIZATION WAS PREPARED BY AN OUTSIDE CPA FIRM. EACH BOARD MEMBER IS PROVIDED WITH A COPY OF FORM 990 PRIOR TO FILING. THE FORM 990 IS REVIEWED AND APPROVED PRIOR TO FILING BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC THROUGH THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0FRANK PHILLIPS JUNIOR COLLEGE
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0TX
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0COLLEGE
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Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,602,265
Liabilities
$46,034
Net assets
$2,556,231
Revenue
$88,222
Expenses
$48,889
Net income
$39,333
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.01$0.15$2.86$0.36$0.16$0.20
2023Summary only. Only limited summary data is available for this year.$2.41$0.00$2.41$0.08$0.19$0.12
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.35$0.09$2.25$0.06$0.12$0.06
2021Detailed filing. Detailed filing data is available for this year.$2.60$0.05$2.56$0.09$0.05$0.04
2020Summary only. Only limited summary data is available for this year.$2.11$0.01$2.10$0.10$0.06$0.04
2019Summary only. Only limited summary data is available for this year.$1.88$0.00$1.88$0.07$0.06$0.01
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.88$0.00$1.88$0.08$0.05$0.03
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.72$0.00$1.72$0.07$0.05$0.02
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.59$0.00$1.59$0.04$0.05$0.00
2015Detailed filing. Detailed filing data is available for this year.$1.52$0.00$1.52$0.09$0.05$0.04
2014Detailed filing. Detailed filing data is available for this year.$1.54$0.00$1.54$0.07$0.04$0.03
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.33$0.00$1.33$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.17$0.00$1.17$0.03
2011Summary only. Only limited summary data is available for this year.$1.03$0.00$1.03$0.09$0.03$0.06