Civic Intelligence

Libbey F S Endowment Fund Endw

EIN 34-4288280 • 501(c)3 • Brooklyn, OH

Profile

The F S Libbey Endowment Trust shall support the Toledo Museum of Art. One half towards the purchase of paintings, statuary, furniture and other works of art. The other half for any of its corporate service needs.

4900 Tiedeman Road Oh-01-49-0381Brooklyn, OH 44144

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

5th percentile

0.00x

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

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

7th percentile

0.00x

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

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

6th percentile

-43%

Higher net margin than 6% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

15th percentile

$1,000

Higher top officer pay than 15% of similar nonprofits.

Top officer pay equals 0.1% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

25th percentile

-2.4%

Faster asset growth than 25% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

11th percentile

-24%

Faster revenue growth than 11% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets5th percentile

Assets

Down

$12,438,392

Down $309,282 (-2.4%) from 2023

Liabilities

Flat

$0

Flat from 2023

Net Assets

Down

$12,438,392

Down $309,282 (-2.4%) from 2023

Operations
Liabilities / Revenue7th percentileNet Margin6th percentile

Revenue

Down

$717,847

Down $230,640 (-24%) from 2023

Expenses

Up

$1,023,909

Up $35,422 (+3.6%) from 2023

Net Income

Down

-$306,062

Down $266,062 (-665%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth25th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0Assets 2021: $12,742,427Liabilities 2021: $0Net Assets 2021: $12,742,4272021Assets 2022: $12,790,366Liabilities 2022: $0Net Assets 2022: $12,790,3662022Assets 2023: $12,747,674Liabilities 2023: $0Net Assets 2023: $12,747,6742023Assets 2024: $12,438,392Liabilities 2024: $0Net Assets 2024: $12,438,3922024

Highlighted filing

2024

Assets$12,438,392
Liabilities$0
Net Assets$12,438,392
Open 2024 Filing

Operations Trend

Revenue Growth11th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2021: $1,139,538Expenses 2021: $928,684Net Income 2021: $210,8542021Revenue 2022: $984,692Expenses 2022: $940,992Net Income 2022: $43,7002022Revenue 2023: $948,487Expenses 2023: $988,487Net Income 2023: -$40,0002023Revenue 2024: $717,847Expenses 2024: $1,023,909Net Income 2024: -$306,0622024

Highlighted filing

2024

Revenue$717,847
Expenses$1,023,909
Net Income-$306,062
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$12,438,392
Liabilities
$0
Net assets
$12,438,392
Revenue
$717,847
Expenses
$1,023,909
Net income
-$306,062
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$12.4$0.00$12.4$0.72$1.02$0.31
2023Detailed filing. Detailed filing data is available for this year.$12.7$0.00$12.7$0.95$0.99$0.04
2022Detailed filing. Detailed filing data is available for this year.$12.8$0.00$12.8$0.98$0.94$0.04
2021Detailed filing. Detailed filing data is available for this year.$12.7$0.00$12.7$1.14$0.93$0.21
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Oct 30, 2024
Return Version
2023v6.0
Gross Receipts
$3,666,014
Mission and Program Overview

Mission

The F S Libbey Endowment Trust shall support the Toledo Museum of Art. One half towards the purchase of paintings, statuary, furniture and other works of art. The other half for any of its corporate service needs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$12,747,674$12,438,392▼ $309,282
Cap Stk Tr Prin Current Funds$12,747,674$12,438,392▼ $309,282
Total Assets$12,747,674$12,438,392▼ $309,282
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$12,747,674$12,438,392▼ $309,282
Total Liabilities and Net Assets / Fund Balance$12,747,674$12,438,392▼ $309,282
Compensation and Service Providers
Top Officer Pay15th percentile

Employees

NameTitleBaseTotal
Clinton LongneckerTrustee$1,000$1,000

Board Members and Trustees

NameTitle
Dennis JohnsonChairman and CEO
William McdonnellTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$724,075
Other Revenue
$-6,228
Change in Net Assets
$-306,062
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$985,555
Other Expenses$37,354
Salaries, Compensation, and Employee Benefits$1,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$985,555--$985,555
Fees for Service Investment Mgmnt Fees-$23,865-$23,865
Fees for Services Legal-$8,978-$8,978
All Other Expenses-$3,461-$3,461
Fees for Services Accounting-$1,050-$1,050
Other Salaries and Wages-$1,000-$1,000
Total Functional Expenses$985,555$38,354$0$1,023,909
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The Toledo Museum of ArtToledo, OH170(b)(1)(A)(vi)General Operating$985,555
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
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11-description of Process for Review

“The return is compiled by Keybank as agent, and sent to the Chairman for further review and signature, and is then filed. Keybank provides a copy of the 990 to each trustee prior the the July meeting, where it is reviewed and ratified.”

Form 990, Page 6, Part VI, Line 19

“Documents are available upon request by mail or phone and delivered within 2 weeks.”

Filing and Contact Details

Filer

Filer Name
Libbey F S Endowment Fund Endw
EIN
34-4288280
Phone
4192596197
Address
4900 TIEDEMAN ROAD OH-01-49-0381, BROOKLYN, OH 44144

Signing Officer

Name
Dennis Johnson
Title
Trustee
Phone
4192596197
Signed
2024-10-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dennis Johnson
Formed
1991
Legal Domicile
Oh
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
Pwc US Tax Llp
Address
4300 E CAMELBACK ROAD STE 475, PHOENIX, AZ 85018
Preparer
Jeffrey E Kuhlin
Phone
4123556000
Supplemental Narrative

Additional Explanations

Section B. Policies

“The trust has no written retention or destruction policy. Keybank, as agent, has a corporate document retention and destruction policy.”

Section B. Policies

“No compensation is paid to the officers and trustees. Keybank,as agent is compensated as such. Keybank works with the officers. The trustees make all decisions with respect to the operation and administration o f the trust.”

Explanation for Form 990, Part XI, Line 9

“Cy poai adjustment ($8,975), py poai adjustment $5,524, cy pending sales adjustment $896, py roc adjustment ($847), lp distribution timing adjustment ($1,359), cost basis adjustment $1,541.”

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE TOLEDO MUSEUM OF ART HAS A VOICE IN THE INVESTMENT POLICY AS A TRUSTEE OF THE SUPPORTING ORGANIZATION, DENNIS JOHNSON, IS ALSO ON THE BOARD OF DIRECTORS OF THE SUPPORTED ORGANIZATION. THE TRUSTEES OF THE SUPPORTING ORGANIZATION MEET TWICE A YEAR. THE INVESTMENT POLICY IS DISCUSSED AT THESE MEETINGS AND THEN REVIEWED WITH THE SUPPORTED ORGANIZATION THROUGH THE MUTUAL CHAIRMAN/BOARD MEMBER.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1THE CHAIRMAN OF THE SUPPORTING ORGANIZATION, DENNIS JOHNSON, MEETS YEARLY WITH THE TOLEDO MUSEUM OF ART TO REVIEW DISTRIBUTIONS AND DISCUSS INVESTMENTS.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt2THE TRUSTEES MAINTAIN A CLOSE AND CONTINUOUS WORKING RELATIONSHIP WITH THE TOLEDO MUSEUM OF ART. THE SUPPORTED ORGANIZATION REVEIVES PERIOD IC STATEMENTS REFLECTING ALL ACTIVITY IN THE TRUST REGARDING INCOME, E XPENSES AND INVESTMENTS. THE TRUSTEES WELCOME THE INPUT OF THE SUPPOR TED ORGANIZATION AS TO INVESTMENTS.
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IRS990ScheduleA/MinimumAssetAmountGrp/AverageMonthlyCashBalancesGrp/CurrentYearAmt0484612
IRS990ScheduleA/MinimumAssetAmountGrp/AverageMonthlyCashBalancesGrp/PriorYearAmt0375265
IRS990ScheduleA/MinimumAssetAmountGrp/AverageMonthlyFMVOfSecGrp/CurrentYearAmt019541798
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IRS990ScheduleA/MinimumAssetAmountGrp/CashDeemedCharitableGrp/CurrentYearAmt0300396
IRS990ScheduleA/MinimumAssetAmountGrp/CashDeemedCharitableGrp/PriorYearAmt0279761
IRS990ScheduleA/MinimumAssetAmountGrp/DiscountClaimedAmt00
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IRS990ScheduleA/MinimumAssetAmountGrp/TotalMinimumAssetGrp/PriorYearAmt0642985
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IRS990ScheduleA/SupportedOrganizationsTotalCnt01
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0THE TOLEDO MUSEUM OF ART
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IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt0985555
IRS990ScheduleI/RecipientTable/IRCSectionDesc0170(b)(1)(A)(vi)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0GENERAL OPERATING
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0THE TOLEDO MUSEUM OF ART
IRS990ScheduleI/RecipientTable/RecipientEIN0344434678
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt02445 MONROE ST
IRS990ScheduleI/RecipientTable/USAddress/CityNm0TOLEDO
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0OH
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd043620
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0GRANTS ARE MADE TO THE 501 (c)(3) ORGANIZATION NAMED IN THE TRUST DOCUMENT. OUR ADMINISTRATIVE REPRESENTATIVES ARE IN PERIODIC CONTACT WITH REPRESENTATIVES OF THE CHARITY IN ORDER TO BE IN COMPLIANCE WITH THE TRUST PROVISIONS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0EXPLANATION FOR FORM 990, SCHEDULE I, PART 1, LINE 2
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE TRUST HAS NO WRITTEN RETENTION OR DESTRUCTION POLICY. KEYBANK, AS AGENT, HAS A CORPORATE DOCUMENT RETENTION AND DESTRUCTION POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO COMPENSATION IS PAID TO THE OFFICERS AND TRUSTEES. KEYBANK,AS AGENT IS COMPENSATED AS SUCH. KEYBANK WORKS WITH THE OFFICERS. THE TRUSTEES MAKE ALL DECISIONS WITH RESPECT TO THE OPERATION AND ADMINISTRATION O F THE TRUST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The return is compiled by Keybank as agent, and sent to the Chairman for further review and signature, and is then filed. Keybank provides a copy of the 990 to each trustee prior the the July meeting, where it is reviewed and ratified.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Documents are available upon request by mail or phone and delivered within 2 weeks.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CY POAI ADJUSTMENT ($8,975), PY POAI ADJUSTMENT $5,524, CY PENDING SALES ADJUSTMENT $896, PY ROC ADJUSTMENT ($847), LP DISTRIBUTION TIMING ADJUSTMENT ($1,359), COST BASIS ADJUSTMENT $1,541.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0SECTION B. POLICIES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1SECTION B. POLICIES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11-DESCRIPTION OF PROCESS FOR REVIEW
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4EXPLANATION FOR FORM 990, PART XI, LINE 9
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0TOLEDO MUSEUM OF ART
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0170(b)(1)(A)(vi)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0ART
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IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt012747674
IRS990/TotalAssetsEOYAmt012438392
IRS990/TotalAssetsGrp/BOYAmt012747674
IRS990/TotalAssetsGrp/EOYAmt012438392
IRS990/TotalCompGreaterThan150KInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0985555
IRS990/TotalFunctionalExpensesGrp/TotalAmt01023909
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt012438392
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0985555
IRS990/TotalReportableCompFromOrgAmt01000
IRS990/TotalRevenueGrp/ExclusionAmt0717847
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0717847
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt012747674
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt012438392
IRS990/TotReportableCompRltdOrgAmt00
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IRS990/TypeOfOrganizationTrustInd0X
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt017 COREY CREEK RD
IRS990/USAddress/CityNm0TOLEDO
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IRS990/USAddress/ZIPCd043560
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DENNIS JOHNSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Trustee
ReturnHeader/BusinessOfficerGrp/PhoneNum04192596197
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-10-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LIBBEY F S ENDOWMENT FUND ENDW
ReturnHeader/Filer/BusinessNameControlTxt0LIBB
ReturnHeader/Filer/EIN0344288280
ReturnHeader/Filer/PhoneNum04192596197
ReturnHeader/Filer/USAddress/AddressLine1Txt04900 TIEDEMAN ROAD OH-01-49-0381
ReturnHeader/Filer/USAddress/CityNm0BROOKLYN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OH
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ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0920460586
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PWC US TAX LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04300 E CAMELBACK ROAD STE 475
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PHOENIX

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