Civic Intelligence

Arts Council Wichita Falls Area Inc.

990 • Fiscal year 2018 • EIN 75-2577651

Jun 01, 2017 to May 31, 2018 • Filed on Mar 19, 2019

1300 Lamar StWichita Falls, TX 76301

(940) 767-2787

Siviq Scores

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

Liabilities / Assets

20th percentile

0.02x

Higher debt load relative to assets than 20% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

45th percentile

0.13x

Higher debt load relative to revenue than 45% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

7th percentile

-40%

Higher net margin than 7% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

24th percentile

$49,831

Higher top officer pay than 24% of similar nonprofits.

Top officer pay equals 6.7% of source-year revenue.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Asset Growth

23rd percentile

-4.4%

Faster asset growth than 23% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

33rd percentile

-1.6%

Faster revenue growth than 33% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Assets

Down

$6,213,217

Down $288,888 (-4.4%) from 2017

Net Assets

Down

$6,115,861

Down $283,955 (-4.4%) from 2017

Liabilities

Down

$97,356

Down $4,933 (-4.8%) from 2017

Revenue

Down

$742,195

Down $12,291 (-1.6%) from 2017

Expenses

Up

$1,038,268

Up $35,316 (+3.5%) from 2017

Net Income

Down

-$296,073

Down $47,607 (-19%) from 2017

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $5,368,170Liabilities 2011: $53,976Net Assets 2011: $5,314,1942011Assets 2012: $5,358,156Liabilities 2012: $54,948Net Assets 2012: $5,303,2082012Assets 2013: $6,364,966Liabilities 2013: $132,157Net Assets 2013: $6,232,8092013Assets 2014: $7,268,085Liabilities 2014: $124,357Net Assets 2014: $7,143,7282014Assets 2015: $6,975,301Liabilities 2015: $111,158Net Assets 2015: $6,864,1432015Assets 2016: $6,740,078Liabilities 2016: $107,370Net Assets 2016: $6,632,7082016Assets 2017: $6,502,105Liabilities 2017: $102,289Net Assets 2017: $6,399,8162017Assets 2018: $6,213,217Liabilities 2018: $97,356Net Assets 2018: $6,115,8612018Assets 2019: $6,179,550Liabilities 2019: $143,497Net Assets 2019: $6,036,0532019Assets 2020: $6,002,753Liabilities 2020: $92,184Net Assets 2020: $5,910,5692020Assets 2021: $6,615,379Liabilities 2021: $369,294Net Assets 2021: $6,246,0852021Assets 2022: $6,624,677Liabilities 2022: $86,080Net Assets 2022: $6,538,5972022Assets 2023: $6,599,266Liabilities 2023: $124,925Net Assets 2023: $6,474,3412023Assets 2024: $6,484,757Liabilities 2024: $121,281Net Assets 2024: $6,363,4762024

Highlighted filing

2018

Assets$6,213,217
Liabilities$97,356
Net Assets$6,115,861

Operations Trend

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

$2.0M$1.0M$0-$1.0MRevenue 2011: $1,243,027Expenses 2011: $737,185Net Income 2011: $505,8422011Revenue 2012: $820,124Expenses 2012: $791,153Net Income 2012: $28,9712012Revenue 2013: $1,732,088Expenses 2013: $854,174Net Income 2013: $877,9142013Revenue 2014: $1,711,341Expenses 2014: $822,902Net Income 2014: $888,4392014Revenue 2015: $681,755Expenses 2015: $962,828Net Income 2015: -$281,0732015Revenue 2016: $811,871Expenses 2016: $1,028,071Net Income 2016: -$216,2002016Revenue 2017: $754,486Expenses 2017: $1,002,952Net Income 2017: -$248,4662017Revenue 2018: $742,195Expenses 2018: $1,038,268Net Income 2018: -$296,0732018Revenue 2019: $892,252Expenses 2019: $959,912Net Income 2019: -$67,6602019Revenue 2020: $797,956Expenses 2020: $913,595Net Income 2020: -$115,6392020Revenue 2021: $1,181,821Expenses 2021: $856,285Net Income 2021: $325,5362021Revenue 2022: $1,326,135Expenses 2022: $994,693Net Income 2022: $331,4422022Revenue 2023: $1,066,731Expenses 2023: $1,126,792Net Income 2023: -$60,0612023Revenue 2024: $1,085,653Expenses 2024: $1,224,712Net Income 2024: -$139,0592024

Highlighted filing

2018

Revenue$742,195
Expenses$1,038,268
Net Income-$296,073
Jump To
Filing Snapshot
Filing Period
Jun 1, 2017 to May 31, 2018
Signed
Mar 19, 2019
Return Version
2017v2.3
Gross Receipts
$910,931
Mission and Program Overview

Mission

The mission of the Arts Council is to nurture and strengthen the artistic, cultural and educational quality of the community.

The purpose of the Arts Council is to encourage, advise, promote and coordinate cultural and educational organizations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,688,548$5,464,268▼ $224,280
Investments in Publicly Traded Securities$195,505$205,885▲ $10,380
Savings and Temporary Cash Investments$116,731$42,672▼ $74,059
Pledges and Grants Receivable$7,500--
Prepaid Expenses and Deferred Charges$6,112$2,151▼ $3,961
Accounts Receivable-$1,189-
Cash and Non-Interest-Bearing Accounts$-13,086$-3,743▲ $9,343
Total Assets$6,502,105$6,213,217▼ $288,888
Other Assets Total$500,795$500,795→ $0
Liabilities
Accounts Payable and Accrued Expenses$29,101$63,610▲ $34,509
Deferred Revenue$73,188$33,746▼ $39,442
Total Liabilities$102,289$97,356▼ $4,933
Net Assets / Fund Balance
Unrestricted Net Assets$6,387,316$6,110,861▼ $276,455
Temporarily Rstr Net Assets$12,500$5,000▼ $7,500
Total Net Assets Fund Balance$6,399,816$6,115,861▼ $283,955
Total Liabilities and Net Assets / Fund Balance$6,502,105$6,213,217▼ $288,888

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,182,394$2,085,302-
Other Land Buildings$5,918$167,430-
Land$189,190--
Equipment$86,766$218,494-
Other Assets Org$500,795--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Carol SalesCEOFT$49,831$49,831

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$204,192
Program Service Revenue
$292,126
Investment Income
$5,204
Other Revenue
$240,673
All Other Contributions
$172,852
Change in Net Assets
$-296,073

Audited Revenue Reconciliation

Revenue per Audited Statements
$742,195
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$97,743
Total Revenue per Audited Statements
$839,938
Total Revenue per Form 990
$742,195
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$649,894
Salaries, Compensation, and Employee Benefits$388,374
Total Fundraising Expense$224,009
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons$168,658$84,329$84,329$337,316
Depreciation Depletion$115,772$57,887$57,887$231,546
Current Officers, Directors, Trustees, and Key Employees$25,530$12,764$12,764$51,058
Insurance$23,712$11,856$11,856$47,424
All Other Expenses$19,170$9,587$9,587$38,344
Other Expenses$10,166$5,084$5,084$20,334
Office Expenses$8,680$4,340$4,340$17,360
Fees for Services Accounting$8,346$4,174$4,174$16,694
Advertising$4,698$2,350$2,350$9,398
Conferences and Meetings$936$469$469$1,874
Total Functional Expenses$590,250$224,009$224,009$1,038,268

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,150,513
Expenses per Audited Statements$1,038,268
Total Expenses per Form 990$1,038,268
Expenses Not Reported on Form 990$112,245
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$281,260
Fundraising Direct Expenses$134,292
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Home and Garden Show$133,906$133,906$22,227$111,679
Cowboy True Fundraiser$113,242$113,242$77,181$36,061
Total Events$281,260$281,260$134,292$146,968
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 2

Board member, Tyler Sales, is the son of CEO, Carol Sales.

Form 990, Part VI, Section B, line 11B

The governing body receives a copy of the audited financial statements and the form 990 prior to the filing of the 990. The governing body reviews form 990 comparing it to the audited financial statements and looks for accurate disclosure of information requested by the form 990.

Form 990, Part VI, Section B, line 12C

The organization requires each officer, director or trustee and key employee to complete a conflict of interest form and questionnaire annually.

Form 990, Part VI, Section B, line 15

The organizations Executive Board is responsible for hiring and supervision of the CEO. The Executive Board will determine the compensation of the CEO, through a review of and comparison of compensation for compatable positions within the community. The Executive Board approves the compensation decision, and documents their deliberation.

Form 990, Part VI, Section C, line 19

Governing documents, conflict of interest policy, and financial statements are made available upon request.

Filing and Contact Details

Filer

Filer Name
Arts Council
EIN
75-2577651
Phone
9407672787
Address
1300 Lamar St, Wichita Falls, TX 76301

Signing Officer

Name
Carol Sales
Title
CEO
Phone
9407672787
Signed
2019-03-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carol Sales
Formed
1994
Legal Domicile
TX
Voting Board Members
35
Independent Board Members
35
Employees
28
Volunteers
200

Preparer

Firm
Freemon Shapard & Story
Address
807 8th Street 2nd Floor, Wichita Falls, TX 76301-3381
Preparer
Mac Cannedy
Phone
9403224436
Supplemental Narrative

Financial Statement Notes

Part III, Line 4:

Donated artwork consists of one mural and eight sculptures. One of the objectives of the Arts Council is to provide a place to display works of art for the artistic, cultural and educational quality of the community.

Part X, Line 2:

For the fiscal years reported, Kemp Center for the Arts did not have any unrelated business income, and therefore, had no income tax liability. Management does not believe there are any uncertain tax positions reflected in the financial statements.

Part XI, Line 2D - Other Adjustments:

$34,444 are expenses shown on audit in functional expense and are on 990 as an offset to revenue from the gallery, gift shop, and rental.

Part XII, Line 2D - Other Adjustments:

$34,444 are expenses shown on audit in functional expense and are on 990 as an offset to revenue from the gallery, gift shop, and rental.

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IRS990/Form990PartVIISectionAGrp/PersonNm4Gary Cook
IRS990/Form990PartVIISectionAGrp/PersonNm5Logan Draper
IRS990/Form990PartVIISectionAGrp/PersonNm6Madeline Eubanks
IRS990/Form990PartVIISectionAGrp/PersonNm7Dr Martin Camacho
IRS990/Form990PartVIISectionAGrp/PersonNm8Dr Richard Guess
IRS990/Form990PartVIISectionAGrp/PersonNm9Sandy Hay
IRS990/Form990PartVIISectionAGrp/PersonNm10Bert Huff
IRS990/Form990PartVIISectionAGrp/PersonNm11Denny Jones
IRS990/Form990PartVIISectionAGrp/PersonNm12Michael Koen
IRS990/Form990PartVIISectionAGrp/PersonNm13Vicki Kunkle
IRS990/Form990PartVIISectionAGrp/PersonNm14Tom McCulloch
IRS990/Form990PartVIISectionAGrp/PersonNm15Lauren McKechnie
IRS990/Form990PartVIISectionAGrp/PersonNm16Elaine Geary McKinney
IRS990/Form990PartVIISectionAGrp/PersonNm17Barb Merkle
IRS990/Form990PartVIISectionAGrp/PersonNm18Audra Miller
IRS990/Form990PartVIISectionAGrp/PersonNm19Britt Milstead
IRS990/Form990PartVIISectionAGrp/PersonNm20Linda Poenitzsch
IRS990/Form990PartVIISectionAGrp/PersonNm21Grant Rogers
IRS990/Form990PartVIISectionAGrp/PersonNm22Tyler Sales
IRS990/Form990PartVIISectionAGrp/PersonNm23Christina Scruggs
IRS990/Form990PartVIISectionAGrp/PersonNm24Kristin Schuele
IRS990/Form990PartVIISectionAGrp/PersonNm25Dan Shores
IRS990/Form990PartVIISectionAGrp/PersonNm26Sarah Swanson
IRS990/Form990PartVIISectionAGrp/PersonNm27Sheldon Wang
IRS990/Form990PartVIISectionAGrp/PersonNm28Mary Wood
IRS990/Form990PartVIISectionAGrp/PersonNm29Duncan Wood
IRS990/Form990PartVIISectionAGrp/PersonNm30Martha Fain
IRS990/Form990PartVIISectionAGrp/PersonNm31John Hirschi
IRS990/Form990PartVIISectionAGrp/PersonNm32Carolyn Sanders
IRS990/Form990PartVIISectionAGrp/PersonNm33David White
IRS990/Form990PartVIISectionAGrp/PersonNm34Fred Krautz
IRS990/Form990PartVIISectionAGrp/PersonNm35Carol Sales
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Director
IRS990/Form990PartVIISectionAGrp/TitleTxt1Director
IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt10Chair-Elect
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
IRS990/Form990PartVIISectionAGrp/TitleTxt16Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt17Director
IRS990/Form990PartVIISectionAGrp/TitleTxt18Director
IRS990/Form990PartVIISectionAGrp/TitleTxt19Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt20Director
IRS990/Form990PartVIISectionAGrp/TitleTxt21Director
IRS990/Form990PartVIISectionAGrp/TitleTxt22Director
IRS990/Form990PartVIISectionAGrp/TitleTxt23Director
IRS990/Form990PartVIISectionAGrp/TitleTxt24Director
IRS990/Form990PartVIISectionAGrp/TitleTxt25Director
IRS990/Form990PartVIISectionAGrp/TitleTxt26Director
IRS990/Form990PartVIISectionAGrp/TitleTxt27Director
IRS990/Form990PartVIISectionAGrp/TitleTxt28Director
IRS990/Form990PartVIISectionAGrp/TitleTxt29Director
IRS990/Form990PartVIISectionAGrp/TitleTxt30Director
IRS990/Form990PartVIISectionAGrp/TitleTxt31Director
IRS990/Form990PartVIISectionAGrp/TitleTxt32Director
IRS990/Form990PartVIISectionAGrp/TitleTxt33Director
IRS990/Form990PartVIISectionAGrp/TitleTxt34Director
IRS990/Form990PartVIISectionAGrp/TitleTxt35CEO
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IRS990/MissionDesc0The mission of the Arts Council is to nurture and strengthen the artistic, cultural and educational quality of the community.

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.48$0.12$6.36$1.09$1.22$0.14
2023Detailed filing. Detailed filing data is available for this year.$6.60$0.12$6.47$1.07$1.13$0.06
2022Detailed filing. Detailed filing data is available for this year.$6.62$0.09$6.54$1.33$0.99$0.33
2021Detailed filing. Detailed filing data is available for this year.$6.62$0.37$6.25$1.18$0.86$0.33
2020Detailed filing. Detailed filing data is available for this year.$6.00$0.09$5.91$0.80$0.91$0.12
2019Detailed filing. Detailed filing data is available for this year.$6.18$0.14$6.04$0.89$0.96$0.07
2018Detailed filing. Detailed filing data is available for this year.$6.21$0.10$6.12$0.74$1.04$0.30
2017Detailed filing. Detailed filing data is available for this year.$6.50$0.10$6.40$0.75$1.00$0.25
2016Summary only. Only limited summary data is available for this year.$6.74$0.11$6.63$0.81$1.03$0.22
2015Summary only. Only limited summary data is available for this year.$6.98$0.11$6.86$0.68$0.96$0.28
2014Summary only. Only limited summary data is available for this year.$7.27$0.12$7.14$1.71$0.82$0.89
2013Summary only. Only limited summary data is available for this year.$6.36$0.13$6.23$1.73$0.85$0.88
2012Summary only. Only limited summary data is available for this year.$5.36$0.05$5.30$0.82$0.79$0.03
2011Summary only. Only limited summary data is available for this year.$5.37$0.05$5.31$1.24$0.74$0.51