Frisco Association for the Arts
Nonprofit profile at a glance
- EIN
- 752798817
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024, Form 990-EZ 2009
- Location
- Frisco, TX, USA
- Phone
- 9728101028
- Rating
- 80
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Arts, Cultural Organizations - Multipurpose
Reported finances
- Revenue
- $370,534
- Expenses
- $369,837
- Assets
- $62,136
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
7 people listed
People named in this filing
- BRAD HUFF (Director)
- KAREN WHITE (Chairman)
- WILL ODOM (VICE CHAIRMAN)
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 advance the arts through advocacy, outreach and education, building a stronger community with the arts.
What it reported doing in 2024
Arts Tourism Grant: Nonprofit arts organizations who offer quality programs benefiting the citizens of Frisco and increasing arts tourism to Frisco qualify for the annual Arts Tourism grants. The funding for these grants comes from a percentage of the Hotel Occupancy Tax, paid for by visitors to Frisco and approved by the Frisco City Council. The City of Frisco's Arts Tourism grant is managed by Frisco Arts Foundation. FRISCO ARTS WALK AND RUN: Support the ARTS and get heart healthy at the 3rd Annual Frisco Arts Walk and Run!! This family-friendly, immersive arts-themed 5K takes place along the beautiful grounds of HALL Park in Frisco, TX. Runners will be surrounded by the inspiring, award-winning sculptures of the HALL Collection, and the route will include pop-up music, art, theatre, and dance from our local arts community! Everyone will receive an arts-themed finisher medal, and top race winners will receive a unique art piece designed by local artists.Ladies Who Launch Grant Program: We recognize women as capable and driven entrepreneurs with great potential for success in the competitive marketplace. We celebrate women in business and welcome the positive impact small businesses in the arts have in our community. This grant is funded by generous donors of the Frisco Arts Foundation. We hosted a Grant celebration for our winners in 2022.
Operating model
- Revenue model
- Donor-supported. 91% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 83% of its reported program spending out as grants.
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 expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 81
- Transparency & Controls: 84
- Accountability: 82
- Sustainability: 39
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 91.4%; rating input score 91
- Program expense ratio: 91.6%; rating input score 92
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 90.9%; rating input score 91; 13th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 83.1%; rating input score 83; 49th percentile among comparable filings
- 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: 4 of 7 controls in place; rating input score 57
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Fail
- 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: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 0.2%; rating input score 40; 40th percentile among comparable filings
- Total-asset coverage ratio: 0.17; rating input score 10; 10th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings
Growth
- Program expense growth: 7% per year; rating input score 100; 61st percentile among comparable filings
- Revenue growth: 5% per year; rating input score 100; 52nd percentile among comparable filings
- Asset growth: -9% per year; rating input score 0; 7th percentile among comparable filings
Details
- Where the money goes: 91.4% of revenue deployed · 91.6% of spending went to programs
- Governance: 7 of 7 board members independent · 4 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $339K in reported program spending
- Leadership: top reported pay $0 · 7 people listed
- Consistency: 20 of 21 current checks pass · 1 finding to review
- Schedules: 4 filed schedules · includes major donors and grants
- Filing history: 12 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 20 filed money-flow records
- Related organizations: 19 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.
- Review — Accountability: Governance controls: 2 of 6 not reported.
- Moderate — Sustainability: Operating margin scored 40/100.
- High — Sustainability: Total-asset coverage ratio scored 10/100.
- High — Growth: Asset growth scored 0/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.