Civic Intelligence

Frank Phillips College Development Corporation

990 • Fiscal year 2022 • EIN 75-1765603

Sep 01, 2021 to Aug 31, 2022 • Filed on Jul 15, 2023

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

44th percentile

0.04x

Higher debt load relative to assets than 44% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

91st percentile

1.55x

Higher debt load relative to revenue than 91% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

4th percentile

-101%

Higher net margin than 4% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

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.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

20th percentile

-9.9%

Faster asset growth than 20% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

13th percentile

-32%

Faster revenue growth than 13% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets44th percentile

Assets

Down

$2,345,038

Down $257,227 (-9.9%) from 2021

Net Assets

Down

$2,251,796

Down $304,435 (-12%) from 2021

Liabilities

Up

$93,242

Up $47,208 (+103%) from 2021

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin4th percentile

Revenue

Down

$60,303

Down $27,919 (-32%) from 2021

Expenses

Up

$121,159

Up $72,270 (+148%) from 2021

Net Income

Down

-$60,856

Down $100,189 (-255%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth20th 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

2022

Assets$2,345,038
Liabilities$93,242
Net Assets$2,251,796
Open 2022 Filing

Operations Trend

Revenue Growth13th 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

2022

Revenue$60,303
Expenses$121,159
Net Income-$60,856
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2021 to Aug 31, 2022
Signed
Jul 15, 2023
Return Version
2021v4.0
Gross Receipts
$60,303
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$2,063,154$1,867,552▼ $195,602
Cash and Non-Interest-Bearing Accounts$231,837$241,440▲ $9,603
Savings and Temporary Cash Investments$307,064$235,814▼ $71,250
Total Assets$2,602,265$2,345,038▼ $257,227
Other Assets Total$210$232▲ $22
Liabilities
Other Liabilities$46,034$93,242▲ $47,208
Total Liabilities$46,034$93,242▲ $47,208
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,556,231$2,251,796▼ $304,435
Total Net Assets Fund Balance$2,556,231$2,251,796▼ $304,435
Total Liabilities and Net Assets / Fund Balance$2,602,265$2,345,038▼ $257,227
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Craig JonesChair
Julia KaschVice Chair
Autumn WhatleyBoard Member
Becky GreenBoard Member
Beth SummersBoard Member
Brett SchneiderBoard Member
Brittni HarperBoard Member
Bruce GordanBoard Member
Cassi LaxtonBoard Member
Danika HutsonBoard Member
David BrinkBoard Member
Dean SmithBoard Member
Delinda KingBoard Member
Derrick CummingsBoard Member
Glendon ForgeyBoard Member
Jackie BrandBoard Member
Jenny McdanielBoard Member
Jud HicksBoard Member
Kamron NonhofBoard Member
Krista WilsonBoard Member
Lora BaggermanBoard Member
Michele StevensBoard Member
Renee SchwalkBoard Member
Roy GurleyBoard Member
Scott MillsBoard Member
Scott RadachBoard Member
Shannon CarrollBoard Member
Deby JuddBook Member
Marlene MckinneySecretary
Dr Hugh GoldstonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$16,336
Program Service Revenue
$0
Investment Income
$43,967
Other Revenue
$0
All Other Contributions
$16,336
Change in Net Assets
$-60,856
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$117,204
Other Expenses$3,955
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$117,204--$117,204
Fees for Services Accounting$1,575$1,575-$3,150
Insurance$403$402-$805
Total Functional Expenses$119,182$1,977$0$121,159
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$93,242
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
2023-07-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Craig Jones
Formed
1980
Legal Domicile
TX
Voting Board Members
30
Independent Board Members
28
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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IRS990/MissionDesc0TO 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 2021, TOTAL PUBLIC SUPPORT TEST WAS 25.75%. 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 30 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 2021, TOTAL PUBLIC SUPPORT TEST WAS 25.75%. 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 30 UNRELATED BOARD MEMBERS WITH DIVERSE BACKGROUND INTERESTS THAT MEET ON A MONTHLY BASIS TO DISCUSS PERTINENT MATTERS FOR THE BENEFIT OF THE COLLEGE.
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Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,345,038
Liabilities
$93,242
Net assets
$2,251,796
Revenue
$60,303
Expenses
$121,159
Net income
-$60,856
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
2022Detailed filing. Detailed filing data is available for this year.$2.35$0.09$2.25$0.06$0.12$0.06
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$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
Peer Organizations

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