Civic Intelligence

Midland County Public Library Foundation

990 • Fiscal year 2020 • EIN 46-0735772

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 14, 2021

PO Box 1634Midland, TX 79702

(432) 205-1366

Siviq Scores

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

Liabilities / Assets

27th percentile

0.00x

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

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

27th percentile

0.00x

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

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

87th percentile

42%

Higher net margin than 87% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

81st percentile

$79,800

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 26.2% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

76th percentile

32%

Faster asset growth than 76% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

33rd percentile

-14%

Faster revenue growth than 33% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Assets

Up

$613,354

Up $147,450 (+32%) from 2019

Net Assets

Up

$613,354

Up $147,450 (+32%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue

Down

$304,460

Down $48,351 (-14%) from 2019

Expenses

Down

$175,308

Down $187,378 (-52%) from 2019

Net Income

Up

$129,152

Up $139,027 (+1408%) from 2019

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0Assets 2013: $33,045Net Assets 2013: $33,0452013Assets 2014: $186,918Liabilities 2014: $0Net Assets 2014: $186,9182014Assets 2015: $281,040Liabilities 2015: $0Net Assets 2015: $281,0402015Assets 2016: $153,935Liabilities 2016: $0Net Assets 2016: $153,9352016Assets 2017: $396,970Liabilities 2017: $0Net Assets 2017: $396,9702017Assets 2018: $454,155Liabilities 2018: $2,780Net Assets 2018: $451,3752018Assets 2019: $465,904Liabilities 2019: $0Net Assets 2019: $465,9042019Assets 2020: $613,354Liabilities 2020: $0Net Assets 2020: $613,3542020Assets 2021: $730,172Liabilities 2021: $0Net Assets 2021: $730,1722021Assets 2022: $723,585Liabilities 2022: $4,563Net Assets 2022: $719,0222022Assets 2023: $601,425Liabilities 2023: $2,624Net Assets 2023: $598,8012023Assets 2024: $737,756Liabilities 2024: $4,549Net Assets 2024: $733,2072024

Highlighted filing

2020

Assets$613,354
Liabilities$0
Net Assets$613,354

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2013: $93,461Expenses 2013: $60,416Net Income 2013: $33,0452013Revenue 2014: $407,620Expenses 2014: $253,747Net Income 2014: $153,8732014Revenue 2015: $408,555Expenses 2015: $314,433Net Income 2015: $94,1222015Revenue 2016: $262,070Expenses 2016: $389,175Net Income 2016: -$127,1052016Revenue 2017: $469,150Expenses 2017: $226,115Net Income 2017: $243,0352017Revenue 2018: $450,602Expenses 2018: $389,867Net Income 2018: $60,7352018Revenue 2019: $352,811Expenses 2019: $362,686Net Income 2019: -$9,8752019Revenue 2020: $304,460Expenses 2020: $175,308Net Income 2020: $129,1522020Revenue 2021: $418,526Expenses 2021: $336,711Net Income 2021: $81,8152021Revenue 2022: $381,450Expenses 2022: $349,594Net Income 2022: $31,8562022Revenue 2023: $279,130Expenses 2023: $426,741Net Income 2023: -$147,6112023Revenue 2024: $399,268Expenses 2024: $283,002Net Income 2024: $116,2662024

Highlighted filing

2020

Revenue$304,460
Expenses$175,308
Net Income$129,152
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 14, 2021
Return Version
2020v4.1
Gross Receipts
$304,460
Mission and Program Overview

Mission

To support and enhance the operations, acquisitions, and funding of projects and programs of the Midland County Public Library System.

To support and enhance the operations, acquisitions, and funding of projects and programs that encourage lifelong learning through the Midland County Public Library System.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$332,803$390,504▲ $57,701
Investments in Publicly Traded Securities$137,306$197,524▲ $60,218
Cash and Non-Interest-Bearing Accounts$-5,878$25,326▲ $31,204
Prepaid Expenses and Deferred Charges$1,448--
Land, Buildings, and Equipment, Net$225--
Total Assets$465,904$613,354▲ $147,450
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$440,867$588,317▲ $147,450
Net Assets With Donor Restrictions$25,037$25,037→ $0
Total Net Assets Fund Balance$465,904$613,354▲ $147,450
Total Liabilities and Net Assets / Fund Balance$465,904$613,354▲ $147,450

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$902$902

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$137,306$46,000▲ $18,298$4,080$197,524
2019$82,552$30,350▲ $24,404-$137,306
2018-$88,882▼ $6,330-$82,552
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Chris StonedaleExecutive DirectorFT$79,800$79,800

Board Members and Trustees

NameTitle
Mary MacferranPast President
Sean McDanielPresident
Karmen BryantVice President
Andy ShafferDirector
Emily GoodfellowDirector
Eric RoseDirector
Janna HofmanDirector
Stephen RobertsonDirector
Yvette RiddickSecretary
J Devin AlsupTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$302,491
Program Service Revenue
$444
Investment Income
$1,275
Other Revenue
$250
All Other Contributions
$302,491
Change in Net Assets
$129,152

Audited Revenue Reconciliation

Revenue per Audited Statements
$304,460
Revenue Not Reported on Form 990
$18,298
Total Revenue per Audited Statements
$322,758
Total Revenue per Form 990
$304,460
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$89,403
Salaries, Compensation, and Employee Benefits$85,905
Total Fundraising Expense$12,156
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$67,830$3,990$7,980$79,800
Other Expenses$20,430$1,202$2,403$24,035
Payroll Taxes$5,189$305$611$6,105
Advertising$4,327$255$509$5,091
Fees for Services Accounting-$4,500-$4,500
Occupancy$3,647$215$428$4,290
Fees for Services Other-$1,994-$1,994
Office Expenses$984$58$116$1,158
Insurance$922$54$109$1,085
Depreciation Depletion-$225-$225
Total Functional Expenses$150,354$12,798$12,156$175,308

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$175,308
Total Expenses per Audited Statements$175,308
Total Expenses per Form 990$175,308
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

The 990 is normally presented along with the annual financial statement audit to the executive director to distribute to the board treasurer and members with the expertise in financial matters to review prior to filing. The board may officially approve at a meeting after filing.

Form 990, Part VI, Section B, Line 12C

Each director completes and submits their annual disclosure at the beginning of the year to disclose ipotential conflicts. At the start of each board meeting of the Board of Directors review the agenda and disclose any potential conflicts for action items at the meeting.

Form 990, Part VI, Section B, Line 15A

The board of directors reviews and approves the compensation for the executive director annually. Salary adjustments will be determined by the Board of Directors within the parameters of the Foundations budget.

Form 990, Part VI, Section C, Line 19

Public documents are available for inspection upon request at the Foundations administrative offices located at 415 W. Wall, Ste 420, Midland, TX 79701. The 990 is also published on guidestar.org.

Filing and Contact Details

Filer

Filer Name
Midland County Public Library Foundation
EIN
46-0735772
Phone
4322051366
Address
PO Box 1634, Midland, TX 79702

Signing Officer

Name
Chris Stonedale
Title
Executive Director
Signed
2021-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Chris Stonedale
Formed
2012
Legal Domicile
TX
Voting Board Members
10
Independent Board Members
10
Employees
1
Volunteers
10

Preparer

Firm
Randy Silhan CPA Cfe
Address
PO BOX 1341, WOLFFORTH, TX 79382
Preparer
Randy Silhan
Phone
4325800204
Supplemental Narrative

Financial Statement Notes

V 4

Endowment funds are invested with the intent of long term growth to provide perpetual investment income to support and enhance the operations, acquistions, and funding projects and programs that encourage lifelong learning.

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IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt01097
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0280359
IRS990/PYOtherRevenueAmt0-34578
IRS990/PYProgramServiceRevenueAmt0377
IRS990/PYRevenuesLessExpensesAmt0-9875
IRS990/PYSalariesCompEmpBnftPaidAmt082327
IRS990/PYTotalExpensesAmt0362686
IRS990/PYTotalRevenueAmt0352811
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0129152
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0332803
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0390504
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0302491
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0385815
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0415825
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0419249
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0251303
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01774683
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt01275
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt01097
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0901
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0457
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0272
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt04002
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99780
IRS990ScheduleA/PublicSupportPY170Pct00.99840
IRS990ScheduleA/PublicSupportTotal170Amt01774683
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0302491
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0385815
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0415825
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0419249
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0251303
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01774683
IRS990ScheduleA/TotalSupportAmt01778685
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BoardDesignatedBalanceEOYPct01.00000
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt0137306
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt046000
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0197524
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt018298
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt04080
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt082552
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt030350
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0137306
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt024404
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt088882
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt082552
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-6330
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0true
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0902
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0902
IRS990ScheduleD/ExpensesSubtotalAmt0175308
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/NetUnrealizedGainsInvstAmt018298
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueNotReportedAmt018298
IRS990ScheduleD/RevenueSubtotalAmt0304460
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Endowment funds are invested with the intent of long term growth to provide perpetual investment income to support and enhance the operations, acquistions, and funding projects and programs that encourage lifelong learning.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0V 4
IRS990ScheduleD/TotalExpensesPerForm990Amt0175308
IRS990ScheduleD/TotalRevenuePerForm990Amt0304460
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0322758
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0175308
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The 990 is normally presented along with the annual financial statement audit to the executive director to distribute to the board treasurer and members with the expertise in financial matters to review prior to filing. The board may officially approve at a meeting after filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Each director completes and submits their annual disclosure at the beginning of the year to disclose ipotential conflicts. At the start of each board meeting of the Board of Directors review the agenda and disclose any potential conflicts for action items at the meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The board of directors reviews and approves the compensation for the executive director annually. Salary adjustments will be determined by the Board of Directors within the parameters of the Foundations budget.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Public documents are available for inspection upon request at the Foundations administrative offices located at 415 W. Wall, Ste 420, Midland, TX 79701. The 990 is also published on guidestar.org.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0TX
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0465904
IRS990/TotalAssetsEOYAmt0613354
IRS990/TotalAssetsGrp/BOYAmt0465904
IRS990/TotalAssetsGrp/EOYAmt0613354
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0302491
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt012156
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt012798
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0150354
IRS990/TotalFunctionalExpensesGrp/TotalAmt0175308
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0465904
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0613354
IRS990/TotalProgramServiceExpensesAmt0150354
IRS990/TotalProgramServiceRevenueAmt0444
IRS990/TotalReportableCompFromOrgAmt079800
IRS990/TotalRevenueGrp/ExclusionAmt01275
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0694
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0304460
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0465904
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0613354

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