Civic Intelligence

Library Endowment Trust

990 • Fiscal year 2020 • EIN 73-6227587

Jul 01, 2019 to Jun 30, 2020 • Filed on May 14, 2021

Organization ProfileN/A
300 Park AvenueOklahoma City, OK 73102

(405) 606-3761

Siviq Scores

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

Liabilities / Assets

10th percentile

0.00x

Higher debt load relative to assets than 10% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

14th percentile

0.02x

Higher debt load relative to revenue than 14% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

97th percentile

85%

Higher net margin than 97% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2020

Asset Growth

46th percentile

4.9%

Faster asset growth than 46% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

19th percentile

-21%

Faster revenue growth than 19% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets10th percentile

Assets

Up

$6,469,236

Up $300,202 (+4.9%) from 2019

Net Assets

Up

$6,462,988

Up $294,760 (+4.8%) from 2019

Liabilities

Up

$6,248

Up $5,442 (+675%) from 2019

Revenue And Expenses
Liabilities / Revenue14th percentileNet Margin97th percentile

Revenue

Down

$316,453

Down $84,991 (-21%) from 2019

Expenses

Down

$46,694

Down $61,051 (-57%) from 2019

Net Income

Down

$269,759

Down $23,940 (-8.2%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth46th percentile

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

$10M$5.0M$0Assets 2012: $1,781,879Liabilities 2012: $0Net Assets 2012: $1,781,8792012Assets 2013: $2,703,623Liabilities 2013: $0Net Assets 2013: $2,703,6232013Assets 2014: $4,353,540Liabilities 2014: $3,750Net Assets 2014: $4,349,7902014Assets 2015: $4,507,264Liabilities 2015: $0Net Assets 2015: $4,507,2642015Assets 2016: $4,738,760Liabilities 2016: $2,132Net Assets 2016: $4,736,6282016Assets 2017: $5,287,976Liabilities 2017: $4,979Net Assets 2017: $5,282,9972017Assets 2018: $5,882,342Liabilities 2018: $7,813Net Assets 2018: $5,874,5292018Assets 2019: $6,169,034Liabilities 2019: $806Net Assets 2019: $6,168,2282019Assets 2020: $6,469,236Liabilities 2020: $6,248Net Assets 2020: $6,462,9882020Assets 2021: $7,109,660Liabilities 2021: $9,675Net Assets 2021: $7,099,9852021Assets 2022: $5,986,255Liabilities 2022: $1,526Net Assets 2022: $5,984,7292022Assets 2023: $6,516,698Liabilities 2023: $22,339Net Assets 2023: $6,494,3592023Assets 2024: $7,239,387Liabilities 2024: $3,080Net Assets 2024: $7,236,3072024Assets 2025: $8,413,560Liabilities 2025: $0Net Assets 2025: $8,413,5602025

Highlighted filing

2020

Assets$6,469,236
Liabilities$6,248
Net Assets$6,462,988
Open 2020 Filing

Operations Trend

Revenue Growth19th percentile

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

$2.0M$1.0M$0-$1.0M-$2.0MRevenue 2012: $108,849Expenses 2012: $50,294Net Income 2012: $58,5552012Revenue 2013: $945,804Expenses 2013: $24,060Net Income 2013: $921,7442013Revenue 2014: $1,688,621Expenses 2014: $42,453Net Income 2014: $1,646,1682014Revenue 2015: $353,310Expenses 2015: $195,836Net Income 2015: $157,4742015Revenue 2016: $278,635Expenses 2016: $49,273Net Income 2016: $229,3622016Revenue 2017: $613,878Expenses 2017: $67,509Net Income 2017: $546,3692017Revenue 2018: $750,511Expenses 2018: $158,981Net Income 2018: $591,5302018Revenue 2019: $401,444Expenses 2019: $107,745Net Income 2019: $293,6992019Revenue 2020: $316,453Expenses 2020: $46,694Net Income 2020: $269,7592020Revenue 2021: $1,689,197Expenses 2021: $1,052,200Net Income 2021: $636,9972021Revenue 2022: $504,874Expenses 2022: $1,616,905Net Income 2022: -$1,112,0312022Revenue 2023: $747,862Expenses 2023: $246,007Net Income 2023: $501,8552023Revenue 2024: $927,155Expenses 2024: $202,430Net Income 2024: $724,7252024Revenue 2025: $1,424,127Expenses 2025: $246,874Net Income 2025: $1,177,2532025

Highlighted filing

2020

Revenue$316,453
Expenses$46,694
Net Income$269,759
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 14, 2021
Return Version
2019v5.1
Gross Receipts
$408,283
Mission and Program Overview

Mission

The Library Endowment Trust (LET) raises money to aid the Metropolitan Library System (MLS). The money raised is used to make grants to the MLS each year and to increase the LET assets. Money is raised primarily by an annual campaign and by an annual author dinner event.

The Endowment Trust was established to give people a way to make charitable gifts to the library and to raise funds to enhance our libraries and help to meet future library needs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$5,882,374$4,929,503▼ $952,871
Cash and Non-Interest-Bearing Accounts$72,824$1,321,096▲ $1,248,272
Accounts Receivable$18,967$19,291▲ $324
Prepaid Expenses and Deferred Charges$0$10,000▲ $10,000
Total Assets$6,169,034$6,469,236▲ $300,202
Other Assets Total$194,869$189,346▼ $5,523
Liabilities
Accounts Payable and Accrued Expenses$806$6,248▲ $5,442
Total Liabilities$806$6,248▲ $5,442
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,653,841$3,762,751▲ $108,910
Net Assets With Donor Restrictions$2,514,387$2,700,237▲ $185,850
Total Net Assets Fund Balance$6,168,228$6,462,988▲ $294,760
Total Liabilities and Net Assets / Fund Balance$6,169,034$6,469,236▲ $300,202

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$6,169,034$192,591▲ $154,305$0$6,469,236
2018$5,882,342$128,848▲ $265,589$0$6,169,034
2017$5,287,976$417,307▲ $336,040$0$5,882,342
2016$4,738,763$236,060▲ $403,855$0$5,287,976
2015$4,507,265$272,852▲ $7,919$0$4,738,763
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Heather RossPresident
Craig WoodruffVice President
AJ StewartTrustee
Carrie SparlingTrustee
Catherine ArmitageTrustee
David CarpenterTrustee
Jill TrauschkeTrustee
Katie McClendonTrustee
Larry DavisTrustee
Liz CromwellTrustee
Penny McCalebTrustee
Rachel PappyTrustee
Robert ClementsTrustee
Roberta FieldsTrustee
Sarah HoganTrustee
Steve PayneTrustee
Susan AdamsTrustee
Suzy SultemeierTrustee
Ron BryneSecretary / Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$192,951
Program Service Revenue
$0
Investment Income
$245,076
Other Revenue
$-121,574
All Other Contributions
$41,255
Change in Net Assets
$269,759

Audited Revenue Reconciliation

Revenue per Audited Statements
$316,453
Revenue Not Reported on Form 990
$121,378
Total Revenue per Audited Statements
$437,831
Total Revenue per Form 990
$316,453
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$37,229
Grants and Similar Amounts Paid$9,465
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Service Investment Mgmnt Fees$0$18,965$0$18,965
Fees for Services Accounting$0$15,530$0$15,530
Grants to Domestic Orgs$9,465--$9,465
Office Expenses$0$1,792$0$1,792
Other Expenses$0$875$0$875
Total Functional Expenses$9,465$37,229$0$46,694

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$119,558
Expenses Not Reported on Form 990$72,864
Expenses per Audited Statements$46,694
Total Expenses per Form 990$46,694
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Metropolitan Library SystemOklahoma City, OK-Attachment 1$9,465
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$91,830
Fundraising Gross Income$18,450
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Literary Voices$170,146$170,146$91,830$78,316
Total Events$170,146$170,146$91,830$78,316
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
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
No
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
Filing and Contact Details

Filer

Filer Name
Library Endowment Trust
EIN
73-6227587
Phone
4056063761
Address
300 Park Avenue, Oklahoma City, OK 73102

Signing Officer

Name
Ronald J Byrne
Title
Treasurer
Phone
4056063761
Signed
2021-05-14
Discuss with paid preparer
Yes

Organization Details

Formed
1986
Legal Domicile
Ok
Voting Board Members
19
Independent Board Members
19
Employees
0
Volunteers
19

Preparer

Firm
Dianna H Rowland CPA Pc
Address
PO BOX 720296, OKLAHOMA CITY, OK 73172
Preparer
Dianna H Rowland CPA
Phone
4058341793
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“The form 990 is e-mailed to the treasurer for review prior to submission and is available to the entire board at their request.”

Pt VI, Line 12C

“Each Trustee signs a Conflict of Interest agreement yearly.”

Pt VI, Line 18

“Governing documents, Conflict of Interest agreements and”

Pt VI, Line 19

“audited financial statements are available for public”

Pt VI, Line 19

“viewing at:”

Pt VI, Line 19

“Development Office”

Pt VI, Line 19

“Metropolitan Library System”

Pt VI, Line 19

“300 Park Avenue”

Pt VI, Line 19

“Oklahoma City, OK 73102”

Pt XI

“Misc rounding difference”

Financial Statement Notes

Other

“Both negatives are the expenses incurred for the”

Pt XI, Line 4B

“fundraising dinner. They are included in the expenses of”

Pt XII, Line 4B

“the audited financial statements, but are netted against”

Pt XII, Line 4B

“revenue on this Form 990.”

Other

“Investment expenses are netted against revenue on the”

Other

“audited financials but not on this Form 990.”

Pt XII, Line 2D

“Fundraising expenses netted against revenue on this form”

Pt XI, Line 2D

“Fundraising expenses have been netted against revenues on Form 990 but were included in expenses for the audited financial statements”

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IRS990/MissionDesc0The Library Endowment Trust (LET) raises money to aid the Metropolitan Library System (MLS). The money raised is used to make grants to the MLS each year and to increase the LET assets. Money is raised primarily by an annual campaign and by an annual author dinner event.
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1875
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IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PoliticalCampaignActyInd0false
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IRS990/PrincipalOfcrBusinessName/BusinessNameLine1Txt0President
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IRS990/PYRevenuesLessExpensesAmt0293699
IRS990/PYTotalExpensesAmt0107745
IRS990/PYTotalRevenueAmt0401444
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IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
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IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd0false
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd0false
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd0true
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IRS990ScheduleA/PublicSupportCY170Pct00
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt09465
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0Metropolitan Library System
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt09465
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990/ScheduleBRequiredInd0true
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Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,469,236
Liabilities
$6,248
Net assets
$6,462,988
Revenue
$316,453
Expenses
$46,694
Net income
$269,759
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$8.41$0.00$8.41$1.42$0.25$1.18
2024Detailed filing. Detailed filing data is available for this year.$7.24$0.00$7.24$0.93$0.20$0.72
2023Detailed filing. Detailed filing data is available for this year.$6.52$0.02$6.49$0.75$0.25$0.50
2022Detailed filing. Detailed filing data is available for this year.$5.99$0.00$5.98$0.50$1.62$1.11
2021Detailed filing. Detailed filing data is available for this year.$7.11$0.01$7.10$1.69$1.05$0.64
2020Detailed filing. Detailed filing data is available for this year.$6.47$0.01$6.46$0.32$0.05$0.27
2019Detailed filing. Detailed filing data is available for this year.$6.17$0.00$6.17$0.40$0.11$0.29
2018Detailed filing. Detailed filing data is available for this year.$5.88$0.01$5.87$0.75$0.16$0.59
2017Summary only. Only limited summary data is available for this year.$5.29$0.00$5.28$0.61$0.07$0.55
2016Summary only. Only limited summary data is available for this year.$4.74$0.00$4.74$0.28$0.05$0.23
2015Summary only. Only limited summary data is available for this year.$4.51$0.00$4.51$0.35$0.20$0.16
2014Summary only. Only limited summary data is available for this year.$4.35$0.00$4.35$1.69$0.04$1.65
2013Summary only. Only limited summary data is available for this year.$2.70$0.00$2.70$0.95$0.02$0.92
2012Summary only. Only limited summary data is available for this year.$1.78$0.00$1.78$0.11$0.05$0.06