Downtown Wichita Falls Development Inc

Nonprofit profile at a glance

EIN
752877651
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Wichita Falls, TX, USA
Phone
9403224525
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$378,130
Expenses
$369,664
Assets
$323,939
Liabilities
$71,512

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

Leadership & pay

12 people listed

Executive titles in this filing

  • Jana Schmader (Executive Director)
  • Matt Ledesma (Vice-President)
  • Dusty Potter (President)

Highest reported compensation

  • Jana Schmader (Executive Director): $75,846 total reported compensation

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

Overview

Mission

To educate the populace of Wichita Falls about the benefits of the Downtown area; help attract investors to area; organize events to promote downtown area

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 92
  • Accountability: 74
  • Sustainability: 37
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.7%; rating input score 88
  • Program expense ratio: 89.6%; rating input score 90
  • Fundraising efficiency: $13.11 raised per $1 spent on fundraising; rating input score 47; 47th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 2.2%; rating input score 45; 45th percentile among comparable filings
  • Total-asset coverage ratio: 0.88; rating input score 37; 37th percentile among comparable filings
  • Liabilities to assets ratio: 0.22; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 20.5%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: 8.5% per year; rating input score 100; 66th percentile among comparable filings
  • Revenue growth: 3.6% per year; rating input score 100; 44th percentile among comparable filings
  • Asset growth: -9.5% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 87.7% of revenue deployed · 89.6% of spending went to programs
  • Governance: 11 of 11 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $331K in reported program spending
  • Leadership: top reported pay $76K · 12 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 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.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 47/100.
  • Moderate — Sustainability: Operating margin scored 45/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 37/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.
  • High — Sustainability: Officer compensation ratio scored 19/100.