Civic Intelligence

The Jkm Library Trust

990 • Fiscal year 2021 • EIN 36-7238766

Jul 01, 2020 to Jun 30, 2021 • Filed on Mar 18, 2022

1100 E 55th StChicago, IL 60615-5199

(773) 947-6260

Siviq Scores

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

Liabilities / Assets

68th percentile

0.13x

Higher debt load relative to assets than 68% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

55th percentile

0.05x

Higher debt load relative to revenue than 55% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

30th percentile

1.2%

Higher net margin than 30% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

98th percentile

$282,561

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 30.5% of source-year revenue.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Assets

$319,730

No earlier filing loaded for comparison.

Net Assets

$277,371

No earlier filing loaded for comparison.

Liabilities

$42,359

No earlier filing loaded for comparison.

Revenue

$926,606

No earlier filing loaded for comparison.

Expenses

$915,045

No earlier filing loaded for comparison.

Net Income

$11,561

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2021: $319,730Liabilities 2021: $42,359Net Assets 2021: $277,3712021Assets 2022: $343,729Liabilities 2022: $50,539Net Assets 2022: $293,1902022Assets 2023: $366,789Liabilities 2023: $89,639Net Assets 2023: $277,1502023Assets 2024: $430,112Liabilities 2024: $265,611Net Assets 2024: $164,5012024

Highlighted filing

2021

Assets$319,730
Liabilities$42,359
Net Assets$277,371

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2021: $926,606Expenses 2021: $915,045Net Income 2021: $11,5612021Revenue 2022: $976,754Expenses 2022: $960,935Net Income 2022: $15,8192022Revenue 2023: $825,092Expenses 2023: $841,132Net Income 2023: -$16,0402023Revenue 2024: $648,517Expenses 2024: $761,166Net Income 2024: -$112,6492024

Highlighted filing

2021

Revenue$926,606
Expenses$915,045
Net Income$11,561
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Mar 18, 2022
Return Version
2020v4.2
Gross Receipts
$926,606
Mission and Program Overview

Mission

The jkm library trust comprising its staff, services, systems, functions, materials and virtual resources exists primarily to support the missions and programs of the lutheran school of theology at chicago and mccormick theological seminary.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$289,165$298,690▲ $9,525
Accounts Receivable$37,039$15,851▼ $21,188
Prepaid Expenses and Deferred Charges$4,954$4,954→ $0
Cash and Non-Interest-Bearing Accounts$235$235→ $0
Total Assets$331,393$319,730▼ $11,663
Liabilities
Accounts Payable and Accrued Expenses$65,583$42,359▼ $23,224
Total Liabilities$65,583$42,359▼ $23,224
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$265,810$277,371▲ $11,561
Total Net Assets Fund Balance$265,810$277,371▲ $11,561
Total Liabilities and Net Assets / Fund Balance$331,393$319,730▼ $11,663

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$296,808$3,353,629$3,650,437
Equipment$1,882$202,212$204,094
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
David DanielsTrustee-$141,479$141,479
Steed DavidsonTrustee-$136,680$136,680
Mark SwansonTrustee-$115,792$115,792
Jina KangTrustee-$111,007$111,007
Barry HopkinsInterim Director/public Services LibrarianFT$97,070$97,070

Board Members and Trustees

NameTitle
David CrawfordPresident
Esther MennTrustee
James R NiemanTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$926,018
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$588
Change in Net Assets
$11,561

Audited Revenue Reconciliation

Revenue per Audited Statements
$926,606
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$926,606
Total Revenue per Form 990
$926,606
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$818,794
Salaries, Compensation, and Employee Benefits$96,251
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$372,463--$372,463
Fees for Services Other$266,306$6,246-$272,552
Depreciation Depletion$110,351--$110,351
Current Officers, Directors, Trustees, and Key Employees-$96,251-$96,251
Other Expenses$37,336--$37,336
Office Expenses$9,059$7,707-$16,766
Fees for Services Accounting-$7,100-$7,100
Insurance$2,226--$2,226
Total Functional Expenses$797,741$117,304$0$915,045

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$915,045
Total Expenses per Audited Statements$915,045
Total Expenses per Form 990$915,045
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 7A

Two of the standing trustees shall be, ex officio, the persons holding the office of president of lstc and mccormick. Each shall serve as a trustee so long as he or she is holding the office of president at his or her school. One standing trustee shall be appointed by the governing board of each of the schools from among its membership. One standing trustee shall be appointed by the faculty of each of the schools from among its membership.

Form 990, Part VI, Section B, Line 11B

The form 990 was provided to the entire board prior to filing.

Form 990, Part VI, Section B, Line 15

The ceo's compensation is reviewed annually by the presidents of the two supporting organizations using two benchmarks: 1.) compensation of library directors from comparable theological schools and 2.) compensation of full professors of the two schools.

Form 990, Part VI, Section C, Line 19

Financial statements, governing documents and conflict of interest policy are available upon request.

FORM 990, PART VI, SECTION B, LINE 14:

The jkm library trust does not have its own written document retention and destruction policy. However, all the jkm library trust bookkeeping is handled by mccormick theological seminary, who does have a retention and destruction policy. Mccormick theological seminary adheres to its retention and destruction policy for records of both institutions (mccormick theological seminary and jkm library trust).

FORM 990, PART VI, SECTION B, LINE 13:

The jkm library trust does not have its own whistleblower policy but each of the two supporting organizations do, and all employees of both supporting organizations including those employees that work in the library are required to sign it.

Filing and Contact Details

Filer

Filer Name
The Jkm Library Trust
EIN
36-7238766
Phone
7739476260
Address
1100 E 55TH ST, CHICAGO, IL 60615-5199

Signing Officer

Name
David Crawford
Title
President
Phone
7739476260
Signed
2022-03-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Crawford
Formed
1995
Legal Domicile
Il
Voting Board Members
8
Independent Board Members
2
Employees
0
Volunteers
2

Preparer

Firm
Baker Tilly US Llp
Address
225 S 6TH ST 2300, MINNEAPOLIS, MN 55402
Preparer
Steven Cronk CPA
Phone
6128764500
Supplemental Narrative

Additional Explanations

FORM 990, PART V, LINE 2B:

Employees of each supporting organization staff the jkm library trust. Thus, the jkm library trust issues no w-2s.

Form 990, Part IX, Line 11G

Purchased services: program service expenses 266,306. Management and general expenses 6,246. Fundraising expenses 0. Total expenses 272,552.

FORM 990, PART XII, LINE 2C:

Neither the oversight process nor the selection process of the independent accountant changed during the tax year.

Financial Statement Notes

PART X, LINE 2:

The library follows the accounting standards for contingencies in evaluating uncertain tax positions. The guidance prescribes recognition threshold principles for the financial statement recognition of tax positions taken or expected to be taken on a tax return that are not certain to be realized. No liability has been recognized by the library for uncertain tax positions as of june 30, 2021 and 2020. The library's tax returns are subject to review and examination by federal and state authorities.

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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt1457522
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0MCCORMICK THEOLOGICAL SEMINARY
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt1LUTHERAN SCHOOL OF THEOLOGY AT CHICAGO
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IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt0915045
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
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IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt01882
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0202212
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IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0915045
IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt03353629
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IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0926606
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE LIBRARY FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THE GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE LIBRARY FOR UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2021 AND 2020. THE LIBRARY'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalExpensesPerForm990Amt0915045
IRS990ScheduleD/TotalRevenuePerForm990Amt0926606
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0926606
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0915045
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt20
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1186798
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt2103994
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt20
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt20
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt122050
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt211680
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt125632
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0DAVID CRAWFORD
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1JAMES R NIEMAN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2ESTHER MENN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1TRUSTEE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2TRUSTEE
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IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EMPLOYEES OF EACH SUPPORTING ORGANIZATION STAFF THE JKM LIBRARY TRUST. THUS, THE JKM LIBRARY TRUST ISSUES NO W-2S.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TWO OF THE STANDING TRUSTEES SHALL BE, EX OFFICIO, THE PERSONS HOLDING THE OFFICE OF PRESIDENT OF LSTC AND MCCORMICK. EACH SHALL SERVE AS A TRUSTEE SO LONG AS HE OR SHE IS HOLDING THE OFFICE OF PRESIDENT AT HIS OR HER SCHOOL. ONE STANDING TRUSTEE SHALL BE APPOINTED BY THE GOVERNING BOARD OF EACH OF THE SCHOOLS FROM AMONG ITS MEMBERSHIP. ONE STANDING TRUSTEE SHALL BE APPOINTED BY THE FACULTY OF EACH OF THE SCHOOLS FROM AMONG ITS MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 WAS PROVIDED TO THE ENTIRE BOARD PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CEO'S COMPENSATION IS REVIEWED ANNUALLY BY THE PRESIDENTS OF THE TWO SUPPORTING ORGANIZATIONS USING TWO BENCHMARKS: 1.) COMPENSATION OF LIBRARY DIRECTORS FROM COMPARABLE THEOLOGICAL SCHOOLS AND 2.) COMPENSATION OF FULL PROFESSORS OF THE TWO SCHOOLS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE JKM LIBRARY TRUST DOES NOT HAVE ITS OWN WRITTEN DOCUMENT RETENTION AND DESTRUCTION POLICY. HOWEVER, ALL THE JKM LIBRARY TRUST BOOKKEEPING IS HANDLED BY MCCORMICK THEOLOGICAL SEMINARY, WHO DOES HAVE A RETENTION AND DESTRUCTION POLICY. MCCORMICK THEOLOGICAL SEMINARY ADHERES TO ITS RETENTION AND DESTRUCTION POLICY FOR RECORDS OF BOTH INSTITUTIONS (MCCORMICK THEOLOGICAL SEMINARY AND JKM LIBRARY TRUST).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE JKM LIBRARY TRUST DOES NOT HAVE ITS OWN WHISTLEBLOWER POLICY BUT EACH OF THE TWO SUPPORTING ORGANIZATIONS DO, AND ALL EMPLOYEES OF BOTH SUPPORTING ORGANIZATIONS INCLUDING THOSE EMPLOYEES THAT WORK IN THE LIBRARY ARE REQUIRED TO SIGN IT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7PURCHASED SERVICES: PROGRAM SERVICE EXPENSES 266,306. MANAGEMENT AND GENERAL EXPENSES 6,246. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 272,552.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8NEITHER THE OVERSIGHT PROCESS NOR THE SELECTION PROCESS OF THE INDEPENDENT ACCOUNTANT CHANGED DURING THE TAX YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART V, LINE 2B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 14:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION B, LINE 13:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1LUTHERN SCHOOL OF THEOLOGY AT CHICAGO
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