Civic Intelligence

Midland County Public Library Foundation

990 • Fiscal year 2023 • EIN 46-0735772

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

Organization Profilewww.mcplfoundation.org
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

40th percentile

0.00x

Higher debt load relative to assets than 40% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

44th percentile

0.01x

Higher debt load relative to revenue than 44% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

7th percentile

-53%

Higher net margin than 7% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

83rd percentile

$87,290

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 31.3% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

13th percentile

-17%

Faster asset growth than 13% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

14th percentile

-27%

Faster revenue growth than 14% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets40th percentile

Assets

Down

$601,425

Down $122,160 (-17%) from 2022

Net Assets

Down

$598,801

Down $120,221 (-17%) from 2022

Liabilities

Down

$2,624

Down $1,939 (-42%) from 2022

Revenue And Expenses
Liabilities / Revenue44th percentileNet Margin7th percentile

Revenue

Down

$279,130

Down $102,320 (-27%) from 2022

Expenses

Up

$426,741

Up $77,147 (+22%) from 2022

Net Income

Down

-$147,611

Down $179,467 (-563%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth13th percentile

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

2023

Assets$601,425
Liabilities$2,624
Net Assets$598,801
Open 2023 Filing

Operations Trend

Revenue Growth14th percentile

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

2023

Revenue$279,130
Expenses$426,741
Net Income-$147,611
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 15, 2024
Return Version
2023v5.1
Gross Receipts
$279,130
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$407,058$343,624▼ $63,434
Investments in Publicly Traded Securities$196,876$224,266▲ $27,390
Cash and Non-Interest-Bearing Accounts$115,102$30,924▼ $84,178
Total Assets$723,585$601,425▼ $122,160
Other Assets Total$4,549$2,611▼ $1,938
Liabilities
Other Liabilities$4,549$2,611▼ $1,938
Accounts Payable and Accrued Expenses$14$13▼ $1
Total Liabilities$4,563$2,624▼ $1,939
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$694,659$574,438▼ $120,221
Net Assets With Donor Restrictions$24,363$24,363→ $0
Total Net Assets Fund Balance$719,022$598,801▼ $120,221
Total Liabilities and Net Assets / Fund Balance$723,585$601,425▼ $122,160

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$902$902

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$196,876-▲ $27,390-$224,266
2022$227,582$18,426▼ $43,006$6,126$196,876
2021$197,524$100▲ $35,003$5,045$227,582
2020$137,306$46,000▲ $18,298$4,080$197,524
2019$82,552$30,350▲ $24,404-$137,306
Compensation and Service Providers
Top Officer Pay83rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Chris StonedaleExecutive DirectorFT$87,290$87,290

Board Members and Trustees

NameTitle
Stephen RobertsonPresident
Katie McBrydeVice President
Andy ShafferDirector
Emily GoodfellowDirector
Mary MacferranDirector
Eric RoseSecretary
J Devin AlsupTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Edg LLCLibrary Exhibits214 4th St E Ste 170, St Paul, MN 88101$144,000
Revenue and Support

Revenue Composition

Contributions and Grants
$272,821
Program Service Revenue
$0
Investment Income
$6,309
Other Revenue
$0
All Other Contributions
$272,821
Change in Net Assets
$-147,611

Audited Revenue Reconciliation

Revenue per Audited Statements
$279,130
Revenue Not Reported on Form 990
$27,390
Total Revenue per Audited Statements
$306,520
Total Revenue per Form 990
$279,130
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$333,977
Salaries, Compensation, and Employee Benefits$92,764
Total Fundraising Expense$12,055
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$73,830$4,343$8,686$86,859
Other Expenses$66,092--$66,092
Advertising$18,264$1,073$2,148$21,485
Fees for Services Accounting-$6,000-$6,000
Payroll Taxes$5,020$295$590$5,905
Occupancy$3,366$198$396$3,960
Fees for Services Other-$1,333-$1,333
Insurance$1,133$67$133$1,333
Office Expenses$869$51$102$1,022
Total Functional Expenses$401,326$13,360$12,055$426,741

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$426,741
Total Expenses per Audited Statements$426,741
Total Expenses per Form 990$426,741
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$2,611
Operating lease liability-
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 presented along with the annual financial statements 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 officially approves at their next scheduled meeting.”

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
Phone
4322051366
Signed
2024-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Chris Stonedale
Formed
2012
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
7
Employees
1

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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IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt027390
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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt018426
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0196876
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-43006
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt06126
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IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0100
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt0227582
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IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0true
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0902
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0902
IRS990ScheduleD/ExpensesSubtotalAmt0426741
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/NetUnrealizedGainsInvstAmt027390
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02611
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Operating lease liability
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueNotReportedAmt027390
IRS990ScheduleD/RevenueSubtotalAmt0279130
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
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IRS990ScheduleD/TotalRevenuePerForm990Amt0279130
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The 990 is presented along with the annual financial statements 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 officially approves at their next scheduled meeting.
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
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IRS990/TaxablePartyNotificationInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0401326
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO Box 1634
IRS990/USAddress/CityNm0Midland
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$601,425
Liabilities
$2,624
Net assets
$598,801
Revenue
$279,130
Expenses
$426,741
Net income
-$147,611
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7.38$0.05$7.33$3.99$2.83$1.16
2023Detailed filing. Detailed filing data is available for this year.$6.01$0.03$5.99$2.79$4.27$1.48
2022Detailed filing. Detailed filing data is available for this year.$7.24$0.05$7.19$3.81$3.50$0.32
2021Detailed filing. Detailed filing data is available for this year.$7.30$0.00$7.30$4.19$3.37$0.82
2020Detailed filing. Detailed filing data is available for this year.$6.13$0.00$6.13$3.04$1.75$1.29
2019Detailed filing. Detailed filing data is available for this year.$4.66$0.00$4.66$3.53$3.63$0.10
2018Detailed filing. Detailed filing data is available for this year.$4.54$0.03$4.51$4.51$3.90$0.61
2017Detailed filing. Detailed filing data is available for this year.$3.97$0.00$3.97$4.69$2.26$2.43
2016Detailed filing. Detailed filing data is available for this year.$1.54$0.00$1.54$2.62$3.89$1.27
2015Detailed filing. Detailed filing data is available for this year.$2.81$0.00$2.81$4.09$3.14$0.94
2014Detailed filing. Detailed filing data is available for this year.$1.87$0.00$1.87$4.08$2.54$1.54
2013Detailed filing. Detailed filing data is available for this year.$0.33$0.33$0.93$0.60$0.33