Heritage Farmstead Association

What it reported doing in 2024

The plano heritage association saved this historic site from demolition in 1973 and has provided professional museum education and preservation services for the historic house and site for over 50 years. The heritage farmstead museum is the premier heritage resource in plano, Texas. Over 350,000 students have been afforded enhanced educational opportunities through school fieldtrips and outreach programs over the past 50 years. This museum has achieved national, state and local recognition: listed on the national register of historic places, designated by the city of plano and the state of Texas as a historic landmark, an accredited museum by the american alliance of museums. In 2016 the collin county historical commission awarded the heritage farmstead museum their highest honor, the collin mckinney achievement award recognizing the outstanding achievements of a historical museum that actively works to promote the heritage of the county through projects, education, and historical tourism. The museum's creation and facilitation of the plano independent school district third grade program was recognized by collin county's historical commission distinguished as the premier institution in the county for excellence in education. The heritage farmstead museum's outstanding achievement in the direction of heritage preservation continues strongly into the future with the addition of a 5-year vision plan. The vision plan involved the joint effort of the heritage farmstead museum staff and volunteers, architect, landscape architect, with generous support from the city of plano. Engaging in a comprehensive, timely and formal master plan for the future supports the continued effort to meet the needs of the museum's audiences and community. The museum's vision plan was recognized by the american society of landscape architects when it received a merit award of excellence in planning.

Financial Efficiency

• Mission deployment rate: 78.2%; rating input score 78
• Program expense ratio: 85.5%; rating input score 86
• Fundraising efficiency: $11.91 raised per $1 spent on fundraising; rating input score 43; 43rd 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 8 controls in place; rating input score 88
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • 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: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 8.7%; rating input score 59; 59th percentile among comparable filings
• Total-asset coverage ratio: 1.21; rating input score 49; 49th percentile among comparable filings
• Liabilities to assets ratio: 0.05; rating input score 53; 53rd percentile among comparable filings
• Officer compensation ratio: 8.6%; rating input score 41; 41st percentile among comparable filings

Growth

• Program expense growth: 8.6% per year; rating input score 100; 58th percentile among comparable filings
• Revenue growth: 5.5% per year; rating input score 100; 46th percentile among comparable filings
• Asset growth: 5.8% per year; rating input score 100; 42nd percentile among comparable filings