Fair Park First

Nonprofit profile at a glance

EIN
831837875
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Dallas, TX, USA
Phone
2149087846
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Management & Technical Assistance

Official website

Reported finances

Revenue
$21,995,243
Expenses
$19,520,949
Assets
$14,784,656
Liabilities
$9,210,483

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

Leadership & pay

16 people listed

Executive titles in this filing

  • JASON BROWN (PRESIDENT)
  • VELETTA FORSYTHE-LILL (IMMEDIATE PAST PRESIDENT)
  • ALYSSA SIFFERMANN (INTERIM EXECUTIVE DIRECTOR)

Highest reported compensation

  • ALYSSA SIFFERMANN (INTERIM EXECUTIVE DIRECTOR): $147,130 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 purposes for which the corporation is organized are: a) to operate exclusively for charitable, educational, scientific or literary purposes within the meaning of section 501(c)(3) of the code, by engaging directly in support of such purposes or by making distributions to other organizations for use, by the distrutees, in support of such purposes; b) to oversee operations and management of historic and architecturally significant landmarks, public parks, and public entertainment venues and related public educational facilities; and c) to engage in any and all lawful activities incidental to the foregoing purposes, except as otherwise restricted herein. The corporation shall not carry on, other than as an insubstantial part of its activities, activities that are not in furtherance of its purposes.

What it reported doing in 2024

Fair park first's, a Texas nonprofit's mission is to restore, revitalize, and renew fair park, a 138-year-old, 277-acre national historic landmark, in order to attract attention from the local community, the region, and the nation. As the conservator and manager of this city of dallas property, fair park first focuses on the historic preservation of buildings and art, along with the restoration, operation, and maintenance of the entire campus. The organization also engages in activation through major events and local community programming. Fair park has received extensive accolades throughout its history. It was the site of the 1936 Texas centennial exposition and the 1936 world's fair, and it boasts the largest collection of art deco art and architecture in the world. Recognized as a national historic landmark, it stands alongside the alamo as a significant site. As an epicenter of art deco and "texanic" design, with buildings, murals, and sculptures created by renowned artists, architects, and craftsmen, it is truly a crown jewel of Texas. Since its inception in 2019, fair park first has secured over $400 million in public and philanthropic investments to restore buildings and art, create greenspace, and rejuvenate the park for a new chapter in its long history.

Operating model

Revenue model
Other-operating. 93% of the money available for current operations came from other operating revenue.
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: 74
  • Transparency & Controls: 92
  • Accountability: 74
  • Sustainability: 54
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77%; rating input score 77
  • Program expense ratio: 86.7%; rating input score 87
  • Fundraising efficiency: $4.61 raised per $1 spent on fundraising; rating input score 18; 18th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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; 66th 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: 11.2%; rating input score 70; 70th percentile among comparable filings
  • Total-asset coverage ratio: 0.76; rating input score 27; 27th percentile among comparable filings
  • Liabilities to assets ratio: 0.62; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 0.8%; rating input score 88; 88th percentile among comparable filings

Growth

  • Program expense growth: 14.5% per year; rating input score 100; 82nd percentile among comparable filings
  • Revenue growth: 14.5% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: 26.2% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 77% of revenue deployed · 86.7% of spending went to programs
  • Governance: 15 of 15 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $16.9M in reported program spending
  • Leadership: top reported pay $147K · 16 people listed
  • Highest-paid contractors: 3 contractors listed · $824K reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.
  • High — Financial Efficiency: Fundraising efficiency scored 18/100.
  • High — Sustainability: Total-asset coverage ratio scored 27/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.