Wichita Falls Area Community Foundation

Analysis

Wichita Falls Area Community Foundation is a registered charity in United States, based in Wichita Falls, TX. It received its IRS tax-exemption ruling in July 1999, 27 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, Wichita Falls Area Community Foundation reported income of $8.8m and spending of $6.6m, leaving 25% of income unspent that year. Across the 6 years on record, from December 2018 to December 2023, income fell from $9.4m to $8.8m (-6.1%), an average of -1.2% a year. The sharpest change came in the year to December 2023, when income rose by 65%. Over the whole period it spent 94% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Wichita Falls Area Community Foundation sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within TX. Charities of a similar size with the same main cause include Round It Up America Inc ($8.8m), United Way of Northern New Jersey Inc ($8.8m) and Commonwealth Charitable Management Inc ($8.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 83% of the total. Compensation of current officers, directors and key employees was $150k (2.3% of expenses). Other salaries and wages came to $259k. At year end it held assets of $76.0m against liabilities of $0, net assets of $76.0m. It reported 5 employees.