Event Facilities Fort Worth Inc

Nonprofit profile at a glance

EIN
260011624
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Fort Worth, TX, USA
Phone
8178772400
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Youth Development - Agricultural

Reported finances

Revenue
$6,892,185
Expenses
$4,279,999
Assets
$58,421,728
Liabilities
$92,370,569

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

Leadership & pay

7 people listed

Executive titles in this filing

  • MATTHEW R CARTER (PRESIDENT)

Highest reported compensation

  • BRADFORD S BARNES (CHAIRMAN OF THE BOARD): $712,254 total reported compensation
  • MATTHEW R CARTER (PRESIDENT): $448,055 total reported compensation
  • KIMBERLY DEWOODY (TREASURER): $280,645 total reported compensation

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

Overview

Mission

See schedule o.the purpose of the organization is to promote agricultural sciences to the approximately 1,200,000 people who annually attend the southwestern exposition and livestock show (the "stock show"). Additionally, the organization assisted with the establishment of a new arena for the city of fort worth (the "city") adjacent to the will rogers memorial center (the "arena project"), where the annual stock show is held. Upon completion of the arena project, the organization executed a gift deed to the city and conveyed the arena project to the city during the year ended march 31, 2021. The organization will continue to support the activities of the stock show by maintaining the organization's real assets and making them available to the stock show. Additionally, the organization will assist with future development projects to promote agricultural sciences to those who attend the stock show.

What it reported doing in 2024

Provided facilities to the southwestern exposition and livestock show, an annual event that promotes agricultural sciences to approximately 1,000,000 people. Event facilities fort worth, inc. Continues to support the activities of southwestern exposition and livestock show by maintaining and improving real assets and making them available to southwestern exposition and livestock show.

Operating model

Revenue model
Donor-supported. 95% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 74
  • Accountability: 33
  • Sustainability: 78
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.6%; rating input score 63
  • Program expense ratio: 98.2%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Scored; rating input score 0

Accountability

  • Independent voting board: 25%; rating input score 25; 6th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 37.9%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 13.65; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 1.58; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 1.7%; rating input score 77; 77th percentile among comparable filings

Growth

  • Program expense growth: 12.3% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: -1.6% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: 0.8% per year; rating input score 100; 15th percentile among comparable filings

Details

  • Where the money goes: 62.6% of revenue deployed · 98.2% of spending went to programs
  • Governance: 1 of 4 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $4.2M in reported program spending
  • Leadership: top reported pay $712K · 7 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 8 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 14 filing years from 2011 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.

  • High — Accountability: Independent voting board scored 25/100.
  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.