Amarillo Art Center Association

Nonprofit profile at a glance

EIN
237042476
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Amarillo, TX, USA
Phone
8063715050
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Visual Arts Organizations

Official website

Reported finances

Revenue
$2,150,749
Expenses
$733,954
Assets
$6,044,431
Liabilities
$139,754

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

Leadership & pay

24 people listed

Executive titles in this filing

  • TEEL DURRETT (PRESIDENT)
  • KATT KRAUSE MASSEY (PRESIDENT-EL)

People named in this filing

  • TEEL DURRETT (PRESIDENT)
  • KATT KRAUSE MASSEY (PRESIDENT-EL)
  • CHUCK YOUNG (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To establish and maintain a fine arts museum

What it reported doing in 2024

Art education and exhibtion including the cost of providing public art classes, lectures and art displays

Operating model

Revenue model
Donor-supported. 79% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work.

Rating breakdown

  • Financial Efficiency: 53
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 91
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 32.7%; rating input score 33
  • Program expense ratio: 76%; rating input score 76
  • Fundraising efficiency: $58.91 raised per $1 spent on fundraising; rating input score 80; 80th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 65.9%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 8.24; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 79; 79th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 3.3% per year; rating input score 100; 29th percentile among comparable filings
  • Revenue growth: 7.8% per year; rating input score 100; 59th percentile among comparable filings
  • Asset growth: 4.5% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 32.7% of revenue deployed · 76% of spending went to programs
  • Governance: 24 of 24 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $558K in reported program spending
  • Leadership: top reported pay $0 · 24 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 33/100.