Amarillo Area Foundation Inc

Analysis

Amarillo Area Foundation Inc is a registered charity in United States, based in Amarillo, TX. It received its IRS tax-exemption ruling in February 1960, 66 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Amarillo Area Foundation Inc reported income of $23.4m and spending of $21.2m, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $16.8m to $23.4m (+40%), an average of +8.7% a year. The sharpest change came in the year to December 2021, when income rose by 260%. Over the whole period it spent 70% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Amarillo Area Foundation Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within TX. Charities of a similar size with the same main cause include Dupage Community Foundation ($23.3m), United Way of the Greater Lehigh Valley ($23.5m) and College Foundation of the University of Virginia ($23.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 58% and program service revenue 5.5% of the total. Compensation of current officers, directors and key employees was $453k (2.1% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $164.3m against liabilities of $15.0m, net assets of $149.3m. It reported 24 employees.