Civic Intelligence

Oklahoma Educational Technology Trust

990 • Fiscal year 2023 • EIN 30-6006962

Jan 01, 2023 to Dec 31, 2023 • Filed on May 15, 2024

PO Box 21210Oklahoma City, OK 73156

(405) 755-5571

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

3rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

3rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Net Margin

90th percentile

47%

Higher net margin than 90% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

9th percentile

$0

Higher top officer pay than 9% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Asset Growth

63rd percentile

11%

Faster asset growth than 63% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

95th percentile

142%

Faster revenue growth than 95% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Assets

Up

$43,037,679

Up $4,261,564 (+11%) from 2022

Net Assets

Up

$43,037,679

Up $4,261,564 (+11%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue

Up

$2,825,221

Up $1,656,306 (+142%) from 2022

Expenses

Down

$1,485,076

Down $571,478 (-28%) from 2022

Net Income

Up

$1,340,145

Up $2,227,784 (+251%) from 2022

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60M$40M$20M$0Assets 2014: $36,205,448Liabilities 2014: $0Net Assets 2014: $36,205,4482014Assets 2015: $34,314,093Liabilities 2015: $0Net Assets 2015: $34,314,0932015Assets 2016: $35,360,954Liabilities 2016: $0Net Assets 2016: $35,360,9542016Assets 2017: $38,386,121Liabilities 2017: $0Net Assets 2017: $38,386,1212017Assets 2018: $34,562,623Liabilities 2018: $0Net Assets 2018: $34,562,6232018Assets 2019: $39,131,883Liabilities 2019: $0Net Assets 2019: $39,131,8832019Assets 2020: $42,040,105Liabilities 2020: $0Net Assets 2020: $42,040,1052020Assets 2021: $45,940,981Liabilities 2021: $0Net Assets 2021: $45,940,9812021Assets 2022: $38,776,115Liabilities 2022: $0Net Assets 2022: $38,776,1152022Assets 2023: $43,037,679Liabilities 2023: $0Net Assets 2023: $43,037,6792023Assets 2024: $44,299,565Liabilities 2024: $0Net Assets 2024: $44,299,5652024

Highlighted filing

2023

Assets$43,037,679
Liabilities$0
Net Assets$43,037,679

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2014: $2,864,816Expenses 2014: $1,656,674Net Income 2014: $1,208,1422014Revenue 2015: $4,221,980Expenses 2015: $1,515,952Net Income 2015: $2,706,0282015Revenue 2016: $383,608Expenses 2016: $1,692,557Net Income 2016: -$1,308,9492016Revenue 2017: $1,423,959Expenses 2017: $1,709,401Net Income 2017: -$285,4422017Revenue 2018: $4,820,924Expenses 2018: $1,770,342Net Income 2018: $3,050,5822018Revenue 2019: $1,614,613Expenses 2019: $1,860,289Net Income 2019: -$245,6762019Revenue 2020: $1,501,565Expenses 2020: $1,817,609Net Income 2020: -$316,0442020Revenue 2021: $3,577,888Expenses 2021: $1,398,843Net Income 2021: $2,179,0452021Revenue 2022: $1,168,915Expenses 2022: $2,056,554Net Income 2022: -$887,6392022Revenue 2023: $2,825,221Expenses 2023: $1,485,076Net Income 2023: $1,340,1452023Revenue 2024: $2,599,462Expenses 2024: $2,277,729Net Income 2024: $321,7332024

Highlighted filing

2023

Revenue$2,825,221
Expenses$1,485,076
Net Income$1,340,145
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 15, 2024
Return Version
2023v5.0
Gross Receipts
$13,207,143
Mission and Program Overview

Mission

To provide funding for the purchase,installation, and maintenance of information technology in the common and careertech schools of the state of oklahoma; and to provides professional development to the schools to assist them with integrating the technology into their classrooms.

To provide funding for the purchase, installation, and maintenance of information technology in the common and careertech schools of the state of oklahoma and to provide professional development to the schools to assist them with integrating the technology into their classrooms.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$37,980,917$42,266,843▲ $4,285,926
Savings and Temporary Cash Investments$697,675$697,676▲ $1
Cash and Non-Interest-Bearing Accounts$97,523$73,160▼ $24,363
Total Assets$38,776,115$43,037,679▲ $4,261,564
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$38,776,115$43,037,679▲ $4,261,564
Total Net Assets Fund Balance$38,776,115$43,037,679▲ $4,261,564
Total Liabilities and Net Assets / Fund Balance$38,776,115$43,037,679▲ $4,261,564
Compensation and Service Providers

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Communities Foundation Of Okla INCManagementPO BOX 21210, Oklahoma City, OK 73156$185,000
BancfirstInvestment101 N BROADWAY STE 100, Oklahoma City, OK 73156$100,527
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$2,825,221
Other Revenue
$0
Change in Net Assets
$1,340,145

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,825,221
Revenue Not Reported on Form 990
$2,815,871
Total Revenue per Audited Statements
$5,641,092
Total Revenue per Form 990
$2,825,221
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,182,500
Other Expenses$302,576
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,182,500--$1,182,500
Fees for Services Management$111,000$74,000-$185,000
Fees for Service Investment Mgmnt Fees-$108,038-$108,038
Fees for Services Accounting-$8,600-$8,600
Other Expenses-$938-$938
Total Functional Expenses$1,293,500$191,576$0$1,485,076

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,762,642
Expenses per Audited Statements$1,485,076
Total Expenses per Form 990$1,485,076
Expenses Not Reported on Form 990$277,566
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
University of OklahomaNorman, OK-Education$267,500
University of OklahomaNorman, OK-Education$75,000
Brink Jhs MooreMoore, OK-Education$40,000
Carnegie Public SchoolsCarnegie, OK-Education$40,000
Clinton Public SchoolsClinton, OK-Education$40,000
Empire Elementary SchoolDuncan, OK-Education$40,000
Grove Elementary SchoolShawnee, OK-Education$40,000
Hugo Public SchoolsHugo, OK-Education$40,000
Hydro-eakly Public SchoolsHydro, OK-Education$40,000
Indianola Public SchoolsIndianola, OK-Education$40,000
John Rex Charter SchoolsOklahoma City, OK-Education$40,000
Laflore Public SchoolsLeflore, OK-Education$40,000
Leedey Public SchoolsLeedey, OK-Education$40,000
Lincoln ElementaryAlva, OK-Education$40,000
Moore West JhsMoore, OK-Education$40,000
Perkins-tryon Public SchoolsPerkins, OK-Education$40,000
Quapaw High SchoolQuapaw, OK-Education$40,000
Sallisaw Public SchoolsSallisaw, OK-Education$40,000
Tannehill Public SchoolsMcalester, OK-Education$40,000
Truman Elementary NormanNorman, OK-Education$40,000
Union City Public SchoolsUnion City, OK-Education$40,000
Vian High SchoolVian, OK-Education$40,000
Westmoore High SchoolMoore, OK-Education$40,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

The organization contracts with the communities foundation of oklahoma to manage day to day operations.

Form 990, Page 6, Part VI, Line 11B

A copy of the return will be emailed to each member of the governing board for their review prior to filing the return.

Form 990, Page 6, Part VI, Line 12C

Officers/trustees complete an annual conflict of interest disclosure form. These forms are reviewed by staff before the meeting to determine if there is any potential for conflict of interest.

Form 990, Page 6, Part VI, Line 15A

The organization has no employees, but it does annually review its contract with communities foundation of oklahoma, inc which is its management company.

Form 990, Page 6, Part VI, Line 15B

The organization has no employees, but it does annually review its contract with communities foundation of oklahoma, inc which is its management company.

Form 990, Page 6, Part VI, Line 19

The organization makes its governing documents, conflict of interest policy, and its financial statements available to the public by its own website and upon request.

Filing and Contact Details

Filer

Filer Name
Oklahoma Educational Technology
EIN
30-6006962
Phone
4057555571
Address
PO BOX 21210, OKLAHOMA CITY, OK 73156

Signing Officer

Name
Bob Stafford
Title
Chair
Phone
4057555571
Signed
2024-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bob Stafford
Formed
2001
Legal Domicile
Ok
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
28

Preparer

Firm
Luton & Co Pllc
Address
2615 KELLEY POINTE PKWY, EDMOND, OK 73013
Preparer
David R Brady
Phone
4058487313
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To provide funding for the purchase,installation, and maintenance of information technology in the common and careertech schools of the state of oklahoma; and to provides professional development to the schools to assist them with integrating the technology into their classrooms.

Form 990, Page 1, Part I, Line 6

The organization had 18 volunteers that reviewed grants. There were also 10 volunteers that served on the board.

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

Investment fees -108,931 investment income cash adjustment 3,383

Schedule D, Page 4, Part XII, Line 2D

Investment portfolio fees -108,931 net management fees cash basis adjustment 37,000 grants cash basis adjustment 342,500 insurance cash basis adjustment 6,104 investment port fees cash basis adj 893

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IRS990/ProgSrvcAccomActy2Grp/Desc0PHASE II SCHOOLS/DISTRICTS ALSO RECEIVED PROFESSIONAL DEVELOPMENT VALUED AT 25,476 PER SCHOOL. THIS TRAINING FOCUSES ON THE SPECIFIC NEEDS OF THAT SCHOOL AND COMMUNITY. GRANT IMPACT IN 2023; 634 TEACHERS; 9,263 STUDENTS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0323000
IRS990/ProgSrvcAccomActy2Grp/GrantAmt0267500
IRS990/ProgSrvcAccomActy3Grp/Desc0PHASE I GRANTS PROVIDED A ONE DAY LEADERSHIP SEMINAR THAT TRAINED SUPERINTENDENTS AND ADMINISTRATORS IN COMMON SCHOOLS IN THE 10 PRACTICES OF HIGH ACHIEVING SCHOOLS AND HOW TO INTEGRATE TECHNOLOGY SEAMLESSLY INTO THE SCHOOL'S CURRICULUM DELIVERY.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0SALLISAW PUBLIC SCHOOLS 73-6070460 2 40,000 0 CLINTON PUBLIC SCHOOLS 73-6021067 2 40,000 0 VIAN HIGH SCHOOL 73-6150827 2 40,000 0 BRINK JHS MOORE 73-6021049 2 40,000 0 WESTMOORE HIGH SCHOOL 73-6021049 2 40,000 0 MOORE WEST JHS 73-6021049 2 40,000 0 INDIANOLA PUBLIC SCHOOLS 73-1498006 2 40,000 0 HUGO PUBLIC SCHOOLS 73-0735570 2 40,000 0 LINCOLN ELEMENTARY 73-1286795 2 40,000 0 HYDRO-EAKLY PUBLIC SCHOOLS 73-1567247 2 40,000 0 JOHN REX CHARTER SCHOOLS 46-0694033 2 40,000 0 LEEDEY PUBLIC SCHOOLS 73-1428921 2 40,000 0 QUAPAW HIGH SCHOOL 73-6021188 2 40,000 0 TANNEHILL PUBLIC SCHOOLS 77-0648126 2 40,000 0 PERKINS-TRYON PUBLIC SCHOOLS 73-6021193 2 40,000 0 GROVE ELEMENTARY SCHOOL DIST 73-1170479 2 40,000 0 UNION CITY PUBLIC SCHOOLS 73-0941326 2 40,000 0
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1THE SUPPORTED ORGANIZATION IS THE DESIGNATED CLASS OF THE COMMON SCHOOLS AND CAREER TECHS OF THE STATE OF OKLAHOMA.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART I, LINE 11H
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1PART IV, SECTION A, LINE 1
IRS990ScheduleA/OtherSupportSumAmt00
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0UNIVERSITY OF OKLAHOMA
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt1LEFLORE PUBLIC SCHOOLS
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt2CARNEGIE PUBLIC SCHOOLS
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt3EMPIRE ELEMENTARY SCHOOL
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt4TRUMAN ELEMENTARY
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt5SALLISAW PUBLIC SCHOOLS
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt6CLINTON PUBLIC SCHOOLS
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt7VIAN HIGH SCHOOL
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt8BRINK JHS MOORE
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt9WESTMOORE HIGH SCHOOL
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt10MOORE WEST JHS
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt11INDIANOLA PUBLIC SCHOOLS
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt12HUGO PUBLIC SCHOOLS
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt13LINCOLN ELEMENTARY
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt14HYDRO-EAKLY PUBLIC SCHOOLS
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt15JOHN REX CHARTER SCHOOLS
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt16LEEDEY PUBLIC SCHOOLS
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt17QUAPAW HIGH SCHOOL
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt18TANNEHILL PUBLIC SCHOOLS
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt19PERKINS-TRYON PUBLIC SCHOOLS

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