Amarillo Area Foundation

Legal name: Amarillo Area Foundation Inc

Nonprofit profile at a glance

EIN
750978220
IRS 990 coverage
2010–2024
Official website data refreshed
Aug 2026
Forms available
Form 990 2024, Form 990-T 2024
Location
Amarillo, Texas, US
Phone
806-376-4521
Rating
90
Verdict
STRONG
Rating confidence
Standard
Sector
Public Foundations

Official website

Reported finances

Revenue
$26,310,718
Expenses
$29,471,236
Assets
$171,570,632
Liabilities
$14,971,228

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

30 people listed

Executive titles in this filing

  • CLAY STRIBLING (PAST PRESIDENT & CEO)
  • KERALEE CLAY (PRESIDENT & CEO)

Highest reported compensation

  • CLAY STRIBLING (PAST PRESIDENT & CEO): $397,108 total reported compensation
  • KERALEE CLAY (PRESIDENT & CEO): $193,831 total reported compensation
  • DAVID HURTT (ASSISTANT SECRETARY/VP FINANCE): $161,960 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Amarillo Area Foundation is the only nonprofit community foundation serving the more than 400,000 people in the Texas Panhandle. As a leader in philanthropic, nonprofit, and community issues, the Foundation is a catalyzing force that addresses the community’s most critical challenges by providing significant, shared and lasting results.

What it reported doing in 2024

Scholarship program - applications are received from area high school and college students. A committee then reviews the applications and board approved scholarships are awarded accordingly.

Operating model

Revenue model
Donor-supported. 74% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 93% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 92
  • Transparency & Controls: 85
  • Accountability: 100
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98%; rating input score 98
  • Program expense ratio: 91.1%; rating input score 91
  • Fundraising efficiency: $24.98 raised per $1 spent on fundraising; rating input score 62; 62nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 17th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 97.8%; rating input score 98; 28th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -12%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 5.82; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 76; 76th percentile among comparable filings
  • Officer compensation ratio: 3.6%; rating input score 63; 63rd percentile among comparable filings

Growth

  • Program expense growth: 10% per year; rating input score 100; 70th percentile among comparable filings
  • Revenue growth: 6.3% per year; rating input score 100; 55th percentile among comparable filings
  • Asset growth: 4.7% per year; rating input score 100; 34th percentile among comparable filings

Details

  • What they do: 5 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 98% of revenue deployed · 91.1% of spending went to programs
  • Governance: 25 of 25 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $26.8M in reported program spending
  • Leadership: top reported pay $397K · 30 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 34 of 35 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 267 filed money-flow records
  • Related organizations: 266 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 9/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.