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Nonprofiteer
← WICHITA FALLS AREA COMMUNITY FOUNDATION

Form 990 for tax year 2022

Filed by WICHITA FALLS AREA COMMUNITY FOUNDATION.

Totals

Total revenue
$5,318,274
Total expenses
$7,065,301
Contributions and grants received
$4,247,974
Grants paid
$6,273,719
Program service revenue
$0
Investment income
$1,007,732
Other revenue
$62,568
Total assets, end of year
$66,714,610
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$66,714,610
Program services expenses (Part IX)
$6,701,575
Management and general expenses
$239,515
Fundraising expenses
$124,211
Program service expenses (Part III)
$6,701,575

Program services were 94.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $4,247,974

  • 1g · Noncash contributions included above

    $2,134,324

  • 3 · Investment income

    total $1,332,315 · excluded $1,332,315

  • 5 · Royalties

    total $50,718 · excluded $50,718

  • 7a · Gross sales of assets other than inventory

    securities $34,035,154

  • 7b · Less cost or other basis and sales expenses

    securities $34,359,737

  • 7c · Gain or loss

    securities -$324,583

  • 7d · Net gain or loss

    total -$324,583 · excluded -$324,583

  • 11a · Other revenue: Fee income

    total $11,850 · excluded $11,850

  • 11e · Other revenue, total

    $11,850

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $5,918,216 · program services $5,918,216

  • 2 · Grants to domestic individuals

    total $355,503 · program services $355,503

  • 5 · Compensation of officers, directors and key employees

    total $145,750 · program services $72,875 · management and general $43,725 · fundraising $29,150

  • 7 · Other salaries and wages

    total $249,757 · program services $124,879 · management and general $74,927 · fundraising $49,951

  • 8 · Pension plan contributions

    total $17,640 · program services $8,820 · management and general $5,292 · fundraising $3,528

  • 9 · Other employee benefits

    total $17,254 · program services $8,627 · management and general $5,176 · fundraising $3,451

  • 10 · Payroll taxes

    total $30,398 · program services $15,199 · management and general $9,119 · fundraising $6,080

  • 11c · Fees: accounting

    total $31,093 · management and general $31,093

  • 12 · Advertising and promotion

    total $7,285 · program services $2,618 · management and general $1,570 · fundraising $3,097

  • 13 · Office expenses

    total $4,946 · program services $2,473 · management and general $1,484 · fundraising $989

  • 14 · Information technology

    total $8,172 · program services $4,086 · management and general $2,452 · fundraising $1,634

  • 16 · Occupancy

    total $55,018 · program services $27,509 · management and general $16,505 · fundraising $11,004

  • 17 · Travel

    total $26,724 · program services $13,362 · management and general $8,017 · fundraising $5,345

  • 22 · Depreciation, depletion and amortization

    total $19,872 · management and general $19,872

  • 23 · Insurance

    total $9,694 · management and general $9,694

  • 24a · Other expenses: Program services

    total $96,864 · program services $96,864

  • 24b · Other expenses: Dues & subscriptions

    total $58,447 · program services $40,913 · management and general $8,767 · fundraising $8,767

  • 24c · Other expenses: Severance tax

    total $6,593 · program services $6,593

  • 24d · Other expenses: Fees, licenses, permits

    total $3,636 · program services $1,818 · management and general $1,091 · fundraising $727

  • 24e · All other expenses

    total $2,439 · program services $1,220 · management and general $731 · fundraising $488

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $4,418,094 · end of year $2,158,583

  • 4 · Accounts receivable

    beginning of year $87,430 · end of year $96,714

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,899 · end of year $5,801

  • 10a · Land, buildings and equipment: cost or other basis

    $193,588

  • 10b · Land, buildings and equipment: accumulated depreciation

    $148,482

  • 10c · Land, buildings and equipment, net

    beginning of year $61,978 · end of year $45,106

  • 11 · Investments: publicly traded securities

    beginning of year $75,892,495 · end of year $64,324,006

  • 15 · Other assets

    beginning of year $39,252 · end of year $84,400

  • 27 · Net assets without donor restrictions

    beginning of year $48,728,728 · end of year $40,405,132

  • 28 · Net assets with donor restrictions

    beginning of year $31,778,420 · end of year $26,309,478

Mission and programs · 2022

Mission

To provide charitable opportunites for area residents; to leave a legacy for the future; to facilitate donors' varied interests; and to promote philanthropy.

Activities or mission (Part I)

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.

  • 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.

    Expenses $6,701,575 · Grants $6,273,719 · Revenue $5,318,274

As filed on the 2022 return.

Listed in Part VII

  • Denise Moffat

    Chairman

    Total calculated
    $0
    Hours/week
    1

  • Leo Lane

    Vice-Chairman

    Total calculated
    $0
    Hours/week
    1

  • Warren Ayres

    Sec./Treas.

    Total calculated
    $0
    Hours/week
    1

  • Tony Fidelie

    Director

    Total calculated
    $0
    Hours/week
    1

  • Carla Bolin

    Director

    Total calculated
    $0
    Hours/week
    1

  • Barbara Hanson

    Director

    Total calculated
    $0
    Hours/week
    1

  • Tim Cornelius

    Director

    Total calculated
    $0
    Hours/week
    1

  • Allyson Flack

    Director

    Total calculated
    $0
    Hours/week
    1

  • Josh Andrajack

    Director

    Total calculated
    $0
    Hours/week
    1

  • Wynn Heyen

    Director

    Total calculated
    $0
    Hours/week
    1

  • Darrell Coleman

    Director

    Total calculated
    $0
    Hours/week
    1

  • Lysle Huddleston

    Director

    Total calculated
    $0
    Hours/week
    1

  • Doug Armstrong

    Director

    Total calculated
    $0
    Hours/week
    1

  • Nancy Marks

    Director

    Total calculated
    $0
    Hours/week
    1

  • Craig Reynolds

    Director

    Total calculated
    $0
    Hours/week
    1

  • Eric Robb

    Director

    Total calculated
    $0
    Hours/week
    1

  • Barbara Merkle

    Director

    Total calculated
    $0
    Hours/week
    1

  • Michael Stanford

    Director

    Total calculated
    $0
    Hours/week
    1

  • Leslie Schaffner

    President

    Total calculated
    $162,471
    From this org
    $145,750
    From related orgs
    $0
    Other
    $16,721
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,750
    Bonus
    $0
    Other
    $0
    Deferred
    $7,250
    Nontaxable benefits
    $9,471
    Filer's total
    $162,471

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • WFACF LLC

    Charitable activities within the meaning of Section 501(c)(3). · TX

    Directly controlled by Wichita Falls Area Community Foundation

Provenance

Return type
form_990
Tax year
2022
Filed
10 November 2023
IRS schema version
2022v5.0
Source object
202343179349301889

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