Civic Intelligence

Seminole State College Educational Foundation Inc.

990 • Fiscal year 2018 • EIN 73-0781297

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 13, 2019

PO Box 351Seminole, OK 74818-0351

(405) 382-9950

Siviq Scores

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

Liabilities / Assets

41st percentile

0.09x

Higher debt load relative to assets than 41% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

64th percentile

0.31x

Higher debt load relative to revenue than 64% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

95th percentile

72%

Higher net margin than 95% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

20th percentile

$0

Higher top officer pay than 20% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Asset Growth

88th percentile

29%

Faster asset growth than 88% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

43rd percentile

1.6%

Faster revenue growth than 43% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Assets

Up

$5,847,233

Up $1,315,453 (+29%) from 2017

Net Assets

Up

$5,296,480

Up $1,066,853 (+25%) from 2017

Liabilities

Up

$550,753

Up $248,600 (+82%) from 2017

Revenue

Up

$1,762,139

Up $27,944 (+1.6%) from 2017

Expenses

Up

$493,658

Up $61,333 (+14%) from 2017

Net Income

Down

$1,268,481

Down $33,389 (-2.6%) from 2017

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2011: $3,184,013Liabilities 2011: $406,135Net Assets 2011: $2,777,8782011Assets 2012: $3,598,692Liabilities 2012: $627,757Net Assets 2012: $2,970,9352012Assets 2013: $3,648,787Liabilities 2013: $375,958Net Assets 2013: $3,272,8292013Assets 2014: $4,208,397Liabilities 2014: $377,582Net Assets 2014: $3,830,8152014Assets 2015: $4,010,292Liabilities 2015: $498,327Net Assets 2015: $3,511,9652015Assets 2016: $3,122,682Liabilities 2016: $336,969Net Assets 2016: $2,785,7132016Assets 2017: $4,531,780Liabilities 2017: $302,153Net Assets 2017: $4,229,6272017Assets 2018: $5,847,233Liabilities 2018: $550,753Net Assets 2018: $5,296,4802018Assets 2019: $5,657,822Liabilities 2019: $787,779Net Assets 2019: $4,870,0432019Assets 2020: $8,486,179Liabilities 2020: $3,340,661Net Assets 2020: $5,145,5182020Assets 2021: $13,840,348Liabilities 2021: $8,503,615Net Assets 2021: $5,336,7332021Assets 2022: $14,462,251Liabilities 2022: $9,538,868Net Assets 2022: $4,923,3832022Assets 2023: $15,428,457Liabilities 2023: $7,334,782Net Assets 2023: $8,093,6752023Assets 2024: $14,640,243Liabilities 2024: $7,191,653Net Assets 2024: $7,448,5902024

Highlighted filing

2018

Assets$5,847,233
Liabilities$550,753
Net Assets$5,296,480

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $505,858Expenses 2011: $325,048Net Income 2011: $180,8102011Revenue 2012: $703,642Expenses 2012: $525,982Net Income 2012: $177,6602012Revenue 2013: $767,411Expenses 2013: $580,519Net Income 2013: $186,8922013Revenue 2014: $1,125,539Expenses 2014: $508,817Net Income 2014: $616,7222014Revenue 2015: $427,678Expenses 2015: $573,500Net Income 2015: -$145,8222015Revenue 2016: $420,413Expenses 2016: $1,167,501Net Income 2016: -$747,0882016Revenue 2017: $1,734,195Expenses 2017: $432,325Net Income 2017: $1,301,8702017Revenue 2018: $1,762,139Expenses 2018: $493,658Net Income 2018: $1,268,4812018Revenue 2019: $978,019Expenses 2019: $568,870Net Income 2019: $409,1492019Revenue 2020: $1,527,580Expenses 2020: $1,458,061Net Income 2020: $69,5192020Revenue 2021: $1,498,225Expenses 2021: $1,404,953Net Income 2021: $93,2722021Revenue 2022: $2,306,423Expenses 2022: $2,229,578Net Income 2022: $76,8452022Revenue 2023: $3,415,676Expenses 2023: $2,644,354Net Income 2023: $771,3222023Revenue 2024: $3,504,315Expenses 2024: $4,164,647Net Income 2024: -$660,3322024

Highlighted filing

2018

Revenue$1,762,139
Expenses$493,658
Net Income$1,268,481
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 13, 2019
Return Version
2018v3.1
Gross Receipts
$2,292,440
Mission and Program Overview

Mission

To provide financial support for Seminole State College.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$1,664,166$1,892,596▲ $228,430
Land, Buildings, and Equipment, Net$1,122,487$1,235,615▲ $113,128
Cash and Non-Interest-Bearing Accounts$512,160$649,567▲ $137,407
Other Notes and Loans Receivable, Net$100,000$100,000→ $0
Accounts Receivable$1,550$34,412▲ $32,862
Investments in Publicly Traded Securities$10,087$0▼ $10,087
Savings and Temporary Cash Investments$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$4,531,780$5,847,233▲ $1,315,453
Other Assets Total$1,121,330$1,935,043▲ $813,713
Liabilities
Mortgage Notes Payable Secured by Investment Property$290,563$526,406▲ $235,843
Accounts Payable and Accrued Expenses$11,590$24,347▲ $12,757
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$302,153$550,753▲ $248,600
Net Assets / Fund Balance
Temporarily Rstr Net Assets$2,787,639$4,364,779▲ $1,577,140
Permanently Rstr Net Assets$1,242,444$0▼ $1,242,444
Unrestricted Net Assets$199,544$931,701▲ $732,157
Total Net Assets Fund Balance$4,229,627$5,296,480▲ $1,066,853
Total Liabilities and Net Assets / Fund Balance$4,531,780$5,847,233▲ $1,315,453

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$843,525$393,350$1,236,875
Land$327,995-$327,995
Other Land Buildings$64,095$38,657$109,752
Other Assets Org$835,744--
Other Securities$1,058,472--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$1,648,273-▼ $114,955$128,351$1,404,967
2017$1,560,575-▲ $167,297$79,599$1,648,273
2016$1,498,326-▲ $115,942$53,693$1,560,575
2015$1,608,332-▼ $31,880$78,126$1,498,326
2014$1,558,216$16,000▲ $111,057$76,941$1,608,332
Compensation and Service Providers
Revenue and Support

Revenue Composition

Contributions and Grants
$879,415
Program Service Revenue
$0
Investment Income
$869,064
Other Revenue
$13,660
All Other Contributions
$656,137
Change in Net Assets
$1,268,481

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,762,139
Revenue Not Reported on Form 990
$-121,257
Total Revenue per Audited Statements
$1,640,882
Total Revenue per Form 990
$1,762,139
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$243,005
Grants and Similar Amounts Paid$139,516
Salaries, Compensation, and Employee Benefits$111,137
Total Fundraising Expense$23,024
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$130,685$1,047-$131,732
Grants to Domestic Individuals$128,351--$128,351
Other Salaries and Wages$68,652-$17,163$85,815
Travel$18,633$18,632-$37,265
Other Employee Benefits$12,242-$3,061$15,303
All Other Expenses$9,957$3,944$8$13,909
Depreciation Depletion-$12,707-$12,707
Grants to Domestic Orgs$11,165--$11,165
Payroll Taxes$8,015-$2,004$10,019
Fees for Services Legal-$7,765-$7,765
Insurance-$7,501-$7,501
Information Technology$3,153-$788$3,941
Other Expenses$4,544$3,640-$3,640
Conferences and Meetings-$3,229-$3,229
Office Expenses-$3,159-$3,159
Fees for Services Accounting-$2,600-$2,600
Interest-$413-$413
Advertising-$300-$300
Total Functional Expenses$400,397$70,237$23,024$493,658

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$574,029
Expenses per Audited Statements$493,658
Total Expenses per Form 990$493,658
Expenses Not Reported on Form 990$80,371
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$14,045
Fundraising Direct Expenses$11,869
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
spring banquet$41,470$39,847$1,794$38,053
golf tournament$40,748$30,737$9,380$21,357
Total Events$116,936$102,891$11,869$91,022
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI, Line 11B

Prior to filing, a copy of the form 990 will be provided to any board member upon request.

Part VI, Line 19

All documents will be made available to the public upon request.

Part VIII - Excluded Contributions

DESCRIPTION AMOUNT gOLF TOURNAMENT 30,737 SPRING BANQUET 39,847 HOLIDAY EVENT 32,307 TOTAL 102,891

Part VIII - Fundraising Events

Description gross income direct expenses net income golf tournament 10,011 9,380 631 spring banquet 1,623 1,794 -171 holiday event 2,411 695 1,716 totals 14,045 11,869 2,176

Filing and Contact Details

Filer

Filer Name
Seminole State College Educational Foundation
EIN
73-0781297
In Care Of
% LADONNA NEEL
Phone
4053829950
Address
PO BOX 351, SEMINOLE, OK 74818-0351

Signing Officer

Name
Lance Wortham
Title
Chairman
Phone
4053829950
Signed
2019-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lance Wortham
Formed
1972
Legal Domicile
Ok
Voting Board Members
29
Independent Board Members
29
Employees
1
Volunteers
29

Preparer

Firm
Finley & Cook PLLC
Address
1421 E 45th Street, Shawnee, OK 74804
Preparer
Jonathan Gauss
Phone
4058787300
Supplemental Narrative

Additional Explanations

Form 990 Part IX Line 11G

Description:consulting total fees:100000

Form 990 Part IX Line 11G

Description:engineering total fees:30685

Form 990 Part IX Line 11G

Description:trustee fee total fees:1047

Financial Statement Notes

Part V, Line 4

The foundation's endowment consists of 27 individual donor-restricted funds established for scholarship purposes. For scholarship purposes.

Part X, Line 2

The foundation evaluates and accounts for its uncertain tax positions, if any, in accordance with asc topic 740, "income taxes", including the foundation's tax position as a tax-exempt not-for-profit entity. Through the foundation's evaluation of its uncertain tax positions, management has determined no uncertain tax positions existed as of december 31, 2018 or 2017, which would require the foundation to record a liability for uncertain tax positions in its financial statements.

Part XI, Line 2D

Rental expenses net with income $68,502 fundraising expenses net with income $11,869 total other $80,371

Part XII, Line 2D

Rental expenses net with income $68,502 fundraising expenses net with income $11,869 total other $80,371

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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.6$7.19$7.45$3.50$4.16$0.66
2023Detailed filing. Detailed filing data is available for this year.$15.4$7.33$8.09$3.42$2.64$0.77
2022Detailed filing. Detailed filing data is available for this year.$14.5$9.54$4.92$2.31$2.23$0.08
2021Detailed filing. Detailed filing data is available for this year.$13.8$8.50$5.34$1.50$1.40$0.09
2020Detailed filing. Detailed filing data is available for this year.$8.49$3.34$5.15$1.53$1.46$0.07
2019Detailed filing. Detailed filing data is available for this year.$5.66$0.79$4.87$0.98$0.57$0.41
2018Detailed filing. Detailed filing data is available for this year.$5.85$0.55$5.30$1.76$0.49$1.27
2017Detailed filing. Detailed filing data is available for this year.$4.53$0.30$4.23$1.73$0.43$1.30
2016Detailed filing. Detailed filing data is available for this year.$3.12$0.34$2.79$0.42$1.17$0.75
2015Detailed filing. Detailed filing data is available for this year.$4.01$0.50$3.51$0.43$0.57$0.15
2014Detailed filing. Detailed filing data is available for this year.$4.21$0.38$3.83$1.13$0.51$0.62
2013Summary only. Only limited summary data is available for this year.$3.65$0.38$3.27$0.77$0.58$0.19
2012Summary only. Only limited summary data is available for this year.$3.60$0.63$2.97$0.70$0.53$0.18
2011Summary only. Only limited summary data is available for this year.$3.18$0.41$2.78$0.51$0.33$0.18