Civic Intelligence

Edward Drummond Libbey Endowment Fund 20-10-211-0326880

990 • Fiscal year 2022 • EIN 34-6400765

Jul 01, 2021 to Jun 30, 2022 • Filed on Apr 21, 2023

Organization ProfileN/A
4900 Tiedeman Road Oh-01-49-0381Brooklyn, OH 44144

(419) 259-6197

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.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Liabilities / Revenue

3rd percentile

0.00x

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

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Net Margin

70th percentile

17%

Higher net margin than 70% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2022

Asset Growth

54th percentile

1.6%

Faster asset growth than 54% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Revenue Growth

30th percentile

-5.9%

Faster revenue growth than 30% of similar nonprofits.

2022 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets3rd percentile

Assets

Up

$33,984,571

Up $534,870 (+1.6%) from 2021

Net Assets

Up

$33,984,571

Up $534,870 (+1.6%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue And Expenses
Liabilities / Revenue3rd percentileNet Margin70th percentile

Revenue

Down

$3,017,729

Down $188,237 (-5.9%) from 2021

Expenses

Up

$2,494,842

Up $32,444 (+1.3%) from 2021

Net Income

Down

$522,887

Down $220,681 (-30%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth54th percentile

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

$40M$30M$20M$10M$0Assets 2021: $33,449,701Liabilities 2021: $0Net Assets 2021: $33,449,7012021Assets 2022: $33,984,571Liabilities 2022: $0Net Assets 2022: $33,984,5712022Assets 2023: $33,754,279Liabilities 2023: $0Net Assets 2023: $33,754,2792023Assets 2024: $32,802,448Liabilities 2024: $0Net Assets 2024: $32,802,4482024

Highlighted filing

2022

Assets$33,984,571
Liabilities$0
Net Assets$33,984,571
Open 2022 Filing

Operations Trend

Revenue Growth30th percentile

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

$4.0M$2.0M$0-$2.0MRevenue 2021: $3,205,966Expenses 2021: $2,462,398Net Income 2021: $743,5682021Revenue 2022: $3,017,729Expenses 2022: $2,494,842Net Income 2022: $522,8872022Revenue 2023: $2,406,240Expenses 2023: $2,628,392Net Income 2023: -$222,1522023Revenue 2024: $1,770,567Expenses 2024: $2,712,165Net Income 2024: -$941,5982024

Highlighted filing

2022

Revenue$3,017,729
Expenses$2,494,842
Net Income$522,887
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Apr 21, 2023
Return Version
2021v4.1
Gross Receipts
$6,294,432
Mission and Program Overview

Mission

The E D Libbey Endowment Trust makes grants to the Toledo Museum of Art structured under the following funds. The endowment fund is for corporate purposes. The music fund is for building maintenance. The Art School fund is for construction and maintenance of a school for the fine arts. The residuary fund is for wages and art purchases. The trust was established through the will of E D Libbey. Keybank is agent for trustee.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$33,449,701$33,984,571▲ $534,870
Investments in Publicly Traded Securities$33,449,701$32,989,296▼ $460,405
Investments Other Securities-$995,275-
Total Assets$33,449,701$33,984,571▲ $534,870
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$33,449,701$33,984,571▲ $534,870
Total Liabilities and Net Assets / Fund Balance$33,449,701$33,984,571▲ $534,870
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleBaseTotal
Clinton O LongneckerTrustee$2,000$2,000

Board Members and Trustees

NameTitle
Dennis JohnsonChairman and CEO
David Welles JrTrustee
Thomas YoungTrustee
William McdonnellTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$3,013,841
Other Revenue
$3,888
Change in Net Assets
$522,887
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$2,385,472
Other Expenses$107,370
Salaries, Compensation, and Employee Benefits$2,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$2,385,472--$2,385,472
Fees for Service Investment Mgmnt Fees-$68,207-$68,207
All Other Expenses-$28,731-$28,731
Fees for Services Legal-$8,932-$8,932
Current Officers, Directors, Trustees, and Key Employees-$2,000-$2,000
Fees for Services Accounting-$1,500-$1,500
Total Functional Expenses$2,385,472$109,370$0$2,494,842
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The Toledo Museum of ArtToledo, OH170(b)(1)(A)(vi)FOR PURPOSES OUTLINED IN ORGANIZATION'S MISSION STATEMENT.$2,385,472
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 E D Endowment Fund Endw
EIN
34-6400765
Phone
4192596197
Address
4900 TIEDEMAN ROAD OH-01-49-0381, BROOKLYN, OH 44144

Signing Officer

Name
Dennis Johnson
Title
Trustee
Phone
4192596197
Signed
2023-04-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dennis Johnson
Formed
1991
Legal Domicile
Oh
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Pricewaterhousecoopers Llp
Address
1850 N CENTRAL AVE STE 700, PHOENIX, AZ 85004
Preparer
Jeffrey E Kuhlin
Phone
4123556000
Supplemental Narrative

Additional Explanations

Section B. Policies

“The trust has no written document retention or destruction policy.keyb ank, as agent, has a corporate document retention and destruction poli cy.”

Section B. Policies

“Keybank, as agent, is compensated as such. One officer receives compensation, clinton longenecker. The trustees make all decisions with respect to the operation and administration of the trust.”

Explanation for Form 990, Part XI, Line 9

“$12,106.21 lp distribution timing adj, -$120.68 py roc adj, -$2 rounding”

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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 RECEIVES 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.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV,SECTION D,LINE 3
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1LINE 3 CONTINUED
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc2PART V,SECTION D,LINE 8
IRS990ScheduleA/MinimumAssetAmountGrp/AcquisitionIndebtednessGrp/PriorYearAmt00
IRS990ScheduleA/MinimumAssetAmountGrp/AdjustedFMVLessIndebtednessGrp/CurrentYearAmt056119839
IRS990ScheduleA/MinimumAssetAmountGrp/AdjustedFMVLessIndebtednessGrp/PriorYearAmt053433745
IRS990ScheduleA/MinimumAssetAmountGrp/AverageMonthlyCashBalancesGrp/CurrentYearAmt0442810
IRS990ScheduleA/MinimumAssetAmountGrp/AverageMonthlyCashBalancesGrp/PriorYearAmt0727857
IRS990ScheduleA/MinimumAssetAmountGrp/AverageMonthlyFMVOfSecGrp/CurrentYearAmt055677029
IRS990ScheduleA/MinimumAssetAmountGrp/AverageMonthlyFMVOfSecGrp/PriorYearAmt052705888
IRS990ScheduleA/MinimumAssetAmountGrp/CashDeemedCharitableGrp/CurrentYearAmt0841798
IRS990ScheduleA/MinimumAssetAmountGrp/CashDeemedCharitableGrp/PriorYearAmt0801506
IRS990ScheduleA/MinimumAssetAmountGrp/DiscountClaimedAmt00
IRS990ScheduleA/MinimumAssetAmountGrp/FMVOtherNonExemptUseAssetGrp/PriorYearAmt00
IRS990ScheduleA/MinimumAssetAmountGrp/NetVlNonExemptUseAssetsGrp/CurrentYearAmt055278041
IRS990ScheduleA/MinimumAssetAmountGrp/NetVlNonExemptUseAssetsGrp/PriorYearAmt052632239
IRS990ScheduleA/MinimumAssetAmountGrp/PctOfNetVlNonExemptUseAstGrp/CurrentYearAmt01934731
IRS990ScheduleA/MinimumAssetAmountGrp/PctOfNetVlNonExemptUseAstGrp/PriorYearAmt01842128
IRS990ScheduleA/MinimumAssetAmountGrp/RecoveriesPYDistriMinAssetGrp/PriorYearAmt00
IRS990ScheduleA/MinimumAssetAmountGrp/TotalFMVOfNonExemptUseAssetGrp/CurrentYearAmt056119839
IRS990ScheduleA/MinimumAssetAmountGrp/TotalFMVOfNonExemptUseAssetGrp/PriorYearAmt053433745
IRS990ScheduleA/MinimumAssetAmountGrp/TotalMinimumAssetGrp/CurrentYearAmt01934731
IRS990ScheduleA/MinimumAssetAmountGrp/TotalMinimumAssetGrp/PriorYearAmt01842128
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0344434678
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd0true
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd07
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt02385472
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0THE TOLEDO MUSEUM OF ART
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType3NonFuncInd0X
IRS990ScheduleA/SupportSumAmt02385472
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt02385472
IRS990ScheduleI/RecipientTable/IRCSectionDesc0170(b)(1)(A)(vi)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0FOR PURPOSES OUTLINED IN ORGANIZATION'S MISSION STATEMENT.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0THE TOLEDO MUSEUM OF ART
IRS990ScheduleI/RecipientTable/RecipientEIN0344434678
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt02445 MUNROE 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 CONTACTWITH 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
IRS990ScheduleI/Total501c3OrgCnt01
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE TRUST HAS NO WRITTEN DOCUMENT RETENTION OR DESTRUCTION POLICY.KEYB ANK, AS AGENT, HAS A CORPORATE DOCUMENT RETENTION AND DESTRUCTION POLI CY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1KEYBANK, AS AGENT, IS COMPENSATED AS SUCH. ONE OFFICER RECEIVES COMPENSATION, CLINTON LONGENECKER. THE TRUSTEES MAKE ALL DECISIONS WITH RESPECT TO THE OPERATION AND ADMINISTRATION OF 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/ExplanationTxt4$12,106.21 LP DISTRIBUTION TIMING ADJ, -$120.68 PY ROC ADJ, -$2 ROUNDING
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
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0true
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0TOLEDO MUSEUM OF ART
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0344434678
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501c3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0ART
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0170(b)(1)(A)(vi)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt02445 MONROE ST
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0TOLEDO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0OH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd043620
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0OH
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt033449701
IRS990/TotalAssetsEOYAmt033984571
IRS990/TotalAssetsGrp/BOYAmt033449701
IRS990/TotalAssetsGrp/EOYAmt033984571
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0109370
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02385472
IRS990/TotalFunctionalExpensesGrp/TotalAmt02494842
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt033449701
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt033984571
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt02385472
IRS990/TotalReportableCompFromOrgAmt02000
IRS990/TotalRevenueGrp/ExclusionAmt03017729
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03017729
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt033449701
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt033984571
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt017 COREY CREEK RD
IRS990/USAddress/CityNm0TOLEDO
IRS990/USAddress/StateAbbreviationCd0OH
IRS990/USAddress/ZIPCd043623
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$33,984,571
Liabilities
$0
Net assets
$33,984,571
Revenue
$3,017,729
Expenses
$2,494,842
Net income
$522,887
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$32.8$0.00$32.8$1.77$2.71$0.94
2023Detailed filing. Detailed filing data is available for this year.$33.8$0.00$33.8$2.41$2.63$0.22
2022Detailed filing. Detailed filing data is available for this year.$34.0$0.00$34.0$3.02$2.49$0.52
2021Detailed filing. Detailed filing data is available for this year.$33.4$0.00$33.4$3.21$2.46$0.74