Amarillo Art Center Association EIN 23-7042476

Amarillo Art Center Association

EIN  23-7042476 Public charity (501(c)(3)) Amarillo, TX Founded 1967
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 9/3/26 · see original filing: IRS
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Size
$1–10M
What they do
Operates a fine arts museum, showcasing and preserving artistic works.
Leadership
Teel Durrett · President
Money in and out
$2.2M revenue, $734K expenses
Bottom line
76% program efficiency

Operates a fine arts museum, showcasing and preserving artistic works. For fiscal year 2024 it reported $2.2M in revenue, $734K in expenses, and $5.9M in net assets.Pt I

Where the money goes · FY2024
Total revenue
$2.2M
Pt VIII · Ln 12
Total expenses
$734K
Pt IX · Ln 25
Net assets
$5.9M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $1.4M
Where spending went · Part IX cols B–D
Program services $0.76 Management & general $0.20 Fundraising $0.04
Program efficiency
76%
of spending reaches programs▼ -4% vs prior filing year
Operating runway
83.9mo
months of highly liquid reserves at operating expense rate▲ +53% vs prior filing year
Surplus margin
+66%
revenue over expenses, this year▲ +48% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$2.2M
FY2024▲ +49%
Expenses
$734K
FY2024▼ -8%
Total assets
$6.0M
FY2024▲ +34%
Total liabilities
$140K
FY2024▼ -21%
Total revenue
$2.2M
Pt VIII · Ln 12
Total expenses
$734K
Pt IX · Ln 25
Net assets
$5.9M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$1.4M
Total assetsPt X · Ln 16$6.0M
Program-expense ratioPt IX · col B76%
Voting members of governing bodyPt I · Ln 324
Independent voting membersPt I · Ln 424
Mission & Programs · Part III

Where the work happens

1 program service account for $558K of program spending, described in the organization's own filed words · FY2024.
01

Art education and exhibtion including the cost of providing public art classes, lectures and art displays

$558Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CAmarillo Art Center Association
EINHdr · item D23-7042476
Principal addressHdr · item CAmarillo, TX
WebsiteHdr · item Jwww.amoa.org
Year of formationHdr · item L1967
State of legal domicileHdr · item MTX
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A400)
Ruling yearIRS BMFNov 1969

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a24
Independent voting membersPt VI · Ln 1b24
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
President-El
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Ac Interim P
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants$1.7M · 80%
Investment income$227K · 11%
Other revenue$170K · 8%
Program service revenue$35K · 2%
Contributions & grants80%$1.7M
Investment income11%$227K
Other revenue8%$170K
Program service revenue2%$35K
Total revenueLn 12$2.2M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.76 Management & general $0.20 Fundraising $0.04
Program services76%$558K
Management & general20%$147K
Fundraising4%$29K
Total functional expensesLn 25$734K

Balance Sheet

Part X · end of year
CashLn 1$366K
Total assetsLn 16$6.0M
Total liabilitiesLn 26$140K
Total net assetsLn 32$5.9M
Months of cash on handcomputed6.0

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $5.1M · Operating expenses/yr $734K
83.9 months
Where the money goes
Program services
Program services $558K · Total expenses $734K
76%
Management & General
Management & general $147K · Total expenses $734K
20%
Fundraising
Fundraising $29K · Total expenses $734K
4%
Cost to raise $1
Fundraising expense (3-yr avg) $25K · Solicited contributions (3-yr avg) $1.0M
$0.03 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $1.7M · Total revenue $2.2M
80%
Government reliance
Government grants — · Total revenue $2.2M
Earned-income share
Program service revenue $35K · Total revenue $2.2M
2%
Investment reliance
Investment income $227K · Total revenue $2.2M
+11%
Program self-sufficiency
Program service revenue $35K · Total expenses $734K
5%
Growth & trend
Revenue growth (YoY)
This year $2.2M · Prior year $1.4M
+49%
Revenue CAGR
FY2019 $546K · FY2024 $2.2M
+32%
Net-asset trend (YoY)
End of year $5.9M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $2.2M · Expenses $734K
+66%
Liabilities-to-Assets
Total liabilities — · Total assets $6.0M
Net-asset ratio
Net assets $5.9M · Total assets $6.0M
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) $4.8M · Total assets (Pt X, ln 16) $6.0M
79%
People & payroll
Highest Reported Total Compensation
Individual Teel Durrett · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $734K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $346K · Total expenses $734K
47%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 76%
Overhead ratio 20%
Fundraising cost ratio 2%
Revenue growth 49%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 4 funders →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$1.4M revenue · ⤓ 990 PDF
FY2023$597K revenue · ⤓ 990 PDF
FY2022$697K revenue · ⤓ 990 PDF
FY2021$482K revenue · ⤓ 990 PDF
FY2020$546K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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