Performing Arts Fort Worth Inc
Nonprofit profile at a glance
- EIN
- 752457270
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Fort Worth, TX, USA
- Phone
- 8172124300
- Rating
- 82
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Performing Arts Centers
Reported finances
- Revenue
- $24,965,670
- Expenses
- $25,565,210
- Assets
- $146,736,979
- Liabilities
- $12,944,180
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
49 people listed
Executive titles in this filing
- JOEL T SAWYER (BOARD VICE PRESIDENT / TREASURER)
- DEE J KELLY JR (BOARD VICE PRESIDENT)
- DIONE KENNEDY (PRESIDENT & CEO)
- JASON WISE (SENIOR VICE PRESIDENT OF OPERATIONS)
Highest reported compensation
- DIONE KENNEDY (PRESIDENT & CEO): $702,420 total reported compensation
- JASON WISE (SENIOR VICE PRESIDENT OF OPERATIONS): $272,047 total reported compensation
- ALICIA DURAN CPA (CFO): $268,289 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 serve as a permanent home to major arts organizations of fort worth and as a premier venue for touring attractions and to promulgate arts education.
What it reported doing in 2024
Productions and performances - see schedule o general statement 1.
Operating model
- Revenue model
- Earned-program. 79% of the money available for current operations came from fees and other program 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.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 85
- Transparency & Controls: 73
- Accountability: 95
- Sustainability: 48
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 95.3%; rating input score 95
- Program expense ratio: 89.1%; rating input score 89
- Fundraising efficiency: $5.37 raised per $1 spent on fundraising; rating input score 22; 22nd percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Scored; rating input score 0
- Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 91.4%; rating input score 91; 24th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -2.4%; rating input score 22; 22nd percentile among comparable filings
- Total-asset coverage ratio: 5.74; rating input score 86; 86th percentile among comparable filings
- Liabilities to assets ratio: 0.09; rating input score 76; 76th percentile among comparable filings
- Officer compensation ratio: 7.4%; rating input score 33; 33rd percentile among comparable filings
Growth
- Program expense growth: 5.4% per year; rating input score 100; 45th percentile among comparable filings
- Revenue growth: 5.3% per year; rating input score 100; 46th percentile among comparable filings
- Asset growth: 5.1% per year; rating input score 100; 36th percentile among comparable filings
Details
- Where the money goes: 95.3% of revenue deployed · 89.1% of spending went to programs
- Governance: 32 of 35 board members independent · 9 of 9 filing controls reported
- Programs: 2 filed program accomplishments · $22.8M in reported program spending
- Leadership: top reported pay $702K · 49 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $4M reported
- Consistency: 35 of 35 current checks pass
- Schedules: 10 filed schedules · includes major donors, foreign activity, grants, and executive pay
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 8 filed money-flow records
- Related organizations: 1 filed related-organization link
- 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Transparency & Controls: Foreign activity oversight scored 0/100.
- High — Financial Efficiency: Fundraising efficiency scored 22/100.
- High — Sustainability: Operating margin scored 22/100.
- Moderate — Sustainability: Officer compensation ratio scored 33/100.