Civic Intelligence

Amarillo College Foundation Inc.

990 • Fiscal year 2018 • EIN 75-6029084

Sep 01, 2017 to Aug 31, 2018 • Filed on Jan 09, 2019

Organization ProfileNONE
PO Box 447Amarillo, TX 79178

(806) 371-5007

Siviq Scores

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

Liabilities / Assets

7th percentile

0.00x

Higher debt load relative to assets than 7% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Liabilities / Revenue

7th percentile

0.02x

Higher debt load relative to revenue than 7% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Net Margin

95th percentile

69%

Higher net margin than 95% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Top Officer Pay

53rd percentile

$263,812

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 3.7% of source-year revenue.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Asset Growth

61st percentile

5.2%

Faster asset growth than 61% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Revenue Growth

94th percentile

96%

Faster revenue growth than 94% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets7th percentile

Assets

Up

$42,608,121

Up $2,105,013 (+5.2%) from 2017

Net Assets

Up

$42,490,097

Up $2,043,149 (+5.1%) from 2017

Liabilities

Up

$118,024

Up $61,864 (+110%) from 2017

Revenue And Expenses
Liabilities / Revenue7th percentileNet Margin95th percentile

Revenue

Up

$7,192,930

Up $3,517,193 (+96%) from 2017

Expenses

Up

$2,218,334

Up $111,858 (+5.3%) from 2017

Net Income

Up

$4,974,596

Up $3,405,335 (+217%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth61st percentile

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

$100M$50M$0Assets 2011: $28,822,453Liabilities 2011: $14,084Net Assets 2011: $28,808,3692011Assets 2012: $30,145,216Liabilities 2012: $10,160Net Assets 2012: $30,135,0562012Assets 2013: $33,234,230Liabilities 2013: $10,389Net Assets 2013: $33,223,8412013Assets 2014: $37,404,416Liabilities 2014: $12,643Net Assets 2014: $37,391,7732014Assets 2015: $35,207,127Liabilities 2015: $24,245Net Assets 2015: $35,182,8822015Assets 2016: $36,017,057Liabilities 2016: $214,563Net Assets 2016: $35,802,4942016Assets 2017: $40,503,108Liabilities 2017: $56,160Net Assets 2017: $40,446,9482017Assets 2018: $42,608,121Liabilities 2018: $118,024Net Assets 2018: $42,490,0972018Assets 2019: $42,524,565Liabilities 2019: $47,093Net Assets 2019: $42,477,4722019Assets 2020: $48,733,904Liabilities 2020: $86,153Net Assets 2020: $48,647,7512020Assets 2021: $75,165,008Liabilities 2021: $110,636Net Assets 2021: $75,054,3722021Assets 2022: $65,720,655Liabilities 2022: $57,880Net Assets 2022: $65,662,7752022Assets 2023: $80,147,664Liabilities 2023: $395,198Net Assets 2023: $79,752,4662023Assets 2024: $91,183,526Liabilities 2024: $122,037Net Assets 2024: $91,061,4892024

Highlighted filing

2018

Assets$42,608,121
Liabilities$118,024
Net Assets$42,490,097
Open 2018 Filing

Operations Trend

Revenue Growth94th percentile

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

$20M$15M$10M$5.0M$0-$5.0MExpenses 2011: $1,158,9962011Expenses 2012: $1,087,4632012Expenses 2013: $2,023,8132013Revenue 2014: $2,931,241Expenses 2014: $1,687,625Net Income 2014: $1,243,6162014Revenue 2015: $4,463,629Expenses 2015: $3,785,339Net Income 2015: $678,2902015Revenue 2016: $2,824,466Expenses 2016: $3,591,491Net Income 2016: -$767,0252016Revenue 2017: $3,675,737Expenses 2017: $2,106,476Net Income 2017: $1,569,2612017Revenue 2018: $7,192,930Expenses 2018: $2,218,334Net Income 2018: $4,974,5962018Revenue 2019: $2,830,989Expenses 2019: $2,361,271Net Income 2019: $469,7182019Revenue 2020: $2,918,881Expenses 2020: $2,384,179Net Income 2020: $534,7022020Revenue 2021: $18,796,442Expenses 2021: $2,434,445Net Income 2021: $16,361,9972021Revenue 2022: $3,740,660Expenses 2022: $3,231,337Net Income 2022: $509,3232022Revenue 2023: $12,503,294Expenses 2023: $3,932,203Net Income 2023: $8,571,0912023Revenue 2024: $8,950,397Expenses 2024: $4,220,126Net Income 2024: $4,730,2712024

Highlighted filing

2018

Revenue$7,192,930
Expenses$2,218,334
Net Income$4,974,596
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2017 to Aug 31, 2018
Signed
Jan 9, 2019
Return Version
2017v2.3
Gross Receipts
$26,628,458
Mission and Program Overview

Mission

The amarillo college foundation is a non-profit and tax-exempt foundation which seeks to promote excellence at amarillo college.

The amarillo college foundation is a non-profit and tax-exempt foundation which seeks to promote excellence at amarillo college. The organization was organized to obtain gifts and grants to be used for the development of amarillo college. The organization awards scholarships and makes loans to students at amarillo college who are without banking or other credit privileges.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$32,324,201$27,664,841▼ $4,659,360
Investments Other Securities$7,244,649$7,878,004▲ $633,355
Savings and Temporary Cash Investments$60,566$6,359,766▲ $6,299,200
Accounts Receivable$6,476$8,813▲ $2,337
Land, Buildings, and Equipment, Net-$8,362-
Cash and Non-Interest-Bearing Accounts$185,867$5,486▼ $180,381
Total Assets$40,503,108$42,608,121▲ $2,105,013
Other Assets Total$681,349$682,849▲ $1,500
Liabilities
Accounts Payable and Accrued Expenses$39,591$82,480▲ $42,889
Other Liabilities$16,569$35,544▲ $18,975
Total Liabilities$56,160$118,024▲ $61,864
Net Assets / Fund Balance
Temporarily Rstr Net Assets$18,377,593$20,117,370▲ $1,739,777
Permanently Rstr Net Assets$19,581,902$19,837,827▲ $255,925
Unrestricted Net Assets$2,487,453$2,534,900▲ $47,447
Total Net Assets Fund Balance$40,446,948$42,490,097▲ $2,043,149
Total Liabilities and Net Assets / Fund Balance$40,503,108$42,608,121▲ $2,105,013

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$8,362$135,319$143,681
Other Securities$1,294,135--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$29,859,397$233,250▲ $2,386,496$1,154,719$31,324,424
2016$27,252,694$273,957▲ $3,391,618$1,058,872$29,859,397
2015$26,679,700$187,886▲ $1,372,592$987,484$27,252,694
2014$28,440,806$235,385▼ $750,552$1,245,939$26,679,700
2013$25,397,877$205,114▲ $3,506,380$668,565$28,440,806
Compensation and Service Providers
Top Officer Pay53rd percentile

Employees

NameTitleFull / Part TimeOtherTotal
Dr Russell Lowery-hartDir./ac Pres-$263,812$263,812
Mark WhiteDir/ac Evp/g-$206,099$206,099
Dan Ferguson PhdDirector/fac-$91,323$91,323
Kathy DowdyCo-executivePT$74,029$74,029
Tracy DoughertyCo-executivePT$65,201$65,201

Board Members and Trustees

NameTitle
Trevor CavinessChairman
Dr Russell Lowery-hartDir./ac President
Dusty BarrickVice Chairma
Alfonso ZambranoDirector
Betsy KelleyDirector
Bruce MoseleyDirector
Emily HallDirector
James AustinDirector
Jason EarthmanDirector
Jason VelkyDirector
John McelyeaDirector
Kyle LewisDirector
Laresa ChesleyDirector
Lorraine WilhelmDirector
Nicki CrumpDirector
Paul ClarkDirector
Stuart WestDirector
Tiffany MartinDirector
Wendi SwopeDirector
Wes ReevesDirector
Whitt HolderDirector
Daniel HenkeDir./ac Boar
David Woodburn DdsDir./ac Boar
Jay BarrettDir./ac Boar
Mark WhiteDir/ac Evp/g.counsel
Mark LogsdonSecretary
Steve SmithTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$939,787
Program Service Revenue
$0
Investment Income
$6,126,387
Other Revenue
$126,756
All Other Contributions
$939,787
Change in Net Assets
$4,974,596

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$31,500Fair Market Value (FMV) Date of Gift
Total Noncash Contributions1$31,500-

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,192,930
Revenue Not Reported on Form 990
$-2,900,515
Total Revenue per Audited Statements
$4,292,415
Total Revenue per Form 990
$7,192,930
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,741,654
Other Expenses$476,680
Total Fundraising Expense$118,258
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$1,231,458--$1,231,458
Grants to Domestic Orgs$510,196--$510,196
Fees for Services Management$137,956$57,891$89,098$284,945
Fees for Service Investment Mgmnt Fees-$150,691-$150,691
Other Expenses-$11,742$29,160$11,742
Depreciation Depletion-$142-$142
Total Functional Expenses$1,879,610$220,466$118,258$2,218,334

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,249,266
Expenses per Audited Statements$2,218,334
Total Expenses per Form 990$2,218,334
Expenses Not Reported on Form 990$30,932
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Amarillo Junior College DistrictAmarillo, TXGovCollege Education$500,000
Baptist Community ServicesAmarillo, TX501c3Educational Programs$6,454
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$23,164
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Lite Scholarshi$12,778$12,778-$12,778
Theater Arts$5,684$5,684-$5,684
Total Events$18,462$18,462-$18,462
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 Amarillo College$35,544
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
No
Other officer compensation reviewed
No
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, Page 6, Part VI, Line 7A

“The board of directors of this organization is composed of no more than 27 directors including three members of the amarillo college board of regents, the president and the dean of finance and administrative services of amarillo college and other selected members of this organization who are not directly affiliated with amarillo college.”

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

“The form 990 for this company was prepared by an outside cpa firm, and reviewed by audit committee prior to signing.”

Form 990, Page 6, Part VI, Line 12C

“The conflict of interest policy was distributed to each board of directors and was asked to complete and return to the organization to be reviewed and kept on file.”

Form 990, Page 6, Part VI, Line 19

“The organization's governing documents and conflict of interest policy is 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
The Amarillo College Foundation
EIN
75-6029084
Phone
8063715007
Address
PO BOX 447, AMARILLO, TX 79178

Signing Officer

Name
Steve Smith
Title
Treasurer
Phone
8063715007
Signed
2019-01-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steve Smith
Formed
1962
Legal Domicile
TX
Voting Board Members
28
Independent Board Members
24
Employees
0

Preparer

Firm
Connor Mcmillon Mitchell & Shennum Pllc
Address
801 S FILLMORE ST STE 600, AMARILLO, TX 79101
Preparer
Gary D Mitchell
Phone
8063736661
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

“The organization's endowment funds require that the principal be maintained permanently and the income from which is generally restricted to provide financial support to amarillo college.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR/FAC
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IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt26DIR./AC BOAR
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Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$42,608,121
Liabilities
$118,024
Net assets
$42,490,097
Revenue
$7,192,930
Expenses
$2,218,334
Net income
$4,974,596
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$91.2$0.12$91.1$8.95$4.22$4.73
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$80.1$0.40$79.8$12.5$3.93$8.57
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$65.7$0.06$65.7$3.74$3.23$0.51
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$75.2$0.11$75.1$18.8$2.43$16.4
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$48.7$0.09$48.6$2.92$2.38$0.53
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$42.5$0.05$42.5$2.83$2.36$0.47
2018Detailed filing. Detailed filing data is available for this year.$42.6$0.12$42.5$7.19$2.22$4.97
2017Summary only. Only limited summary data is available for this year.$40.5$0.06$40.4$3.68$2.11$1.57
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$36.0$0.21$35.8$2.82$3.59$0.77
2015Detailed filing. Detailed filing data is available for this year.$35.2$0.02$35.2$4.46$3.79$0.68
2014Detailed filing. Detailed filing data is available for this year.$37.4$0.01$37.4$2.93$1.69$1.24
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$33.2$0.01$33.2$2.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$30.1$0.01$30.1$1.09
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.8$0.01$28.8$1.16