Civic Intelligence

Library Endowment Trust

990 • Fiscal year 2024 • EIN 73-6227587

Jul 01, 2023 to Jun 30, 2024 • Filed on May 12, 2025

Organization Profilesupportmls.org/let
300 Park AvenueOklahoma City, OK 73102

(405) 606-3760

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.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

11th percentile

0.00x

Higher debt load relative to revenue than 11% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

96th percentile

78%

Higher net margin than 96% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

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

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

67th percentile

11%

Faster asset growth than 67% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

71st percentile

24%

Faster revenue growth than 71% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets10th percentile

Assets

Up

$7,239,387

Up $722,689 (+11%) from 2023

Net Assets

Up

$7,236,307

Up $741,948 (+11%) from 2023

Liabilities

Down

$3,080

Down $19,259 (-86%) from 2023

Revenue And Expenses
Liabilities / Revenue11th percentileNet Margin96th percentile

Revenue

Up

$927,155

Up $179,293 (+24%) from 2023

Expenses

Down

$202,430

Down $43,577 (-18%) from 2023

Net Income

Up

$724,725

Up $222,870 (+44%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth67th 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

2024

Assets$7,239,387
Liabilities$3,080
Net Assets$7,236,307
Open 2024 Filing

Operations Trend

Revenue Growth71st 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

2024

Revenue$927,155
Expenses$202,430
Net Income$724,725
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 12, 2025
Return Version
2023v6.0
Gross Receipts
$1,104,441
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$4,928,844$6,206,555▲ $1,277,711
Cash and Non-Interest-Bearing Accounts$1,315,916$783,426▼ $532,490
Prepaid Expenses and Deferred Charges$41,250$0▼ $41,250
Accounts Receivable$31,307$32,802▲ $1,495
Total Assets$6,516,698$7,239,387▲ $722,689
Other Assets Total$199,381$216,604▲ $17,223
Liabilities
Accounts Payable and Accrued Expenses$22,339$3,080▼ $19,259
Total Liabilities$22,339$3,080▼ $19,259
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,564,493$5,197,215▲ $632,722
Net Assets With Donor Restrictions$1,929,866$2,039,092▲ $109,226
Total Net Assets Fund Balance$6,494,359$7,236,307▲ $741,948
Total Liabilities and Net Assets / Fund Balance$6,516,698$7,239,387▲ $722,689

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$6,494,359$262,426▲ $681,952-$7,236,307
2022$5,984,729$183,263▲ $572,374$0$6,494,359
2021$7,109,660$102,220▼ $1,135,864$0$5,984,729
2020$6,469,236$138,769▲ $1,553,855$0$7,109,660
2019$6,169,034$192,591▲ $154,305$0$6,469,236
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Lawrence DavisPresident
Meredith WegenerVice President
Amanda CornmesserTrustee
Clayton DudeTrustee
Cole McLanahanTrustee
Emma WilsonTrustee
Erin CowanTrustee
Jill TrauschkeTrustee
Liz CromwellTrustee
Lydia GreenTrustee
Marni RussellTrustee
Nick TricinellaTrustee
Rachel MathewTrustee
Rose RoyalTrustee
Ruseal BrewerTrustee
Sara Suthers RegierTrustee
Stephanie RobbersonTrustee
Suzy SultemeierTrustee
Ron BryneSecretary / Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$134,279
Program Service Revenue
$0
Investment Income
$273,989
Other Revenue
$518,887
All Other Contributions
$114,779
Change in Net Assets
$724,725

Audited Revenue Reconciliation

Revenue per Audited Statements
$519,193
Revenue Not Reported on Financial Statements
$407,962
Other Revenue Adjustments
$407,962
Total Revenue per Audited Statements
$519,193
Total Revenue per Form 990
$927,155
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$113,800
Other Expenses$88,630
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$113,800--$113,800
Fees for Services Accounting$0$40,845$0$40,845
Fees for Service Investment Mgmnt Fees$0$21,188$0$21,188
Office Expenses$0$20,331$0$20,331
Other Expenses$0$3,466$0$3,466
Advertising$0$2,600$0$2,600
Conferences and Meetings$0$127$0$127
Total Functional Expenses$113,800$88,630$0$202,430

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$455,140
Total Expenses per Audited Statements$455,140
Total Expenses per Form 990$202,430
Expenses Not Reported on Financial Statements$-252,710
Other Expense Adjustments$-252,710
International Activity

Grant and Assistance Recipients

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

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$288,210
Fundraising Direct Expenses$177,286
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Literary Voices$307,710$18,600-$18,600
Total Events$307,710$18,600-$18,600
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
4056063760
Address
300 Park Avenue, Oklahoma City, OK 73102

Signing Officer

Name
Nick Tricinella
Title
Treasurer
Phone
4056063760
Signed
2025-05-12
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 provided to the treasurer for review and signature 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 annually. It is enforced thru familiarity with and knowlege of the trustees and their families as well as the honor system for those serving as trustees.”

Pt VI, Line 18

“This Form 990 is available for review upon request to 300 Park Ave, Oklahoma City, OK 73102 or on our website at: https://supportmls.org/let/”

Pt VI, Line 19

“Governing documents, conflict of interest policy and audited financial statements are available for review upon request at: 300 Park Ave, Oklahoma City, OK 73102”

Financial Statement Notes

Pt XI, Line 4B

“Unrealized gains on investments are not included in revenue on the audited financial statements but are included in revenue on page 1 of this Form 990.”

Pt XII, Line 4B

“Investment expenses are netted against revenue on the audited financials but not on this Form 990.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt0Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt1Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt2Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt3Secretary / Treasurer
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IRS990/Form990PartVIISectionAGrp/TitleTxt5Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt6Trustee
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IRS990/Form990PartVIISectionAGrp/TitleTxt8Trustee
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IRS990/Form990PartVIISectionAGrp/TitleTxt11Vice President
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IRS990/Form990PartVIISectionAGrp/TitleTxt13Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt14Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt15Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt16Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt17Trustee
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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/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherExpensesGrp/Desc0Misc
IRS990/OtherExpensesGrp/Desc1Credit Card Fees
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IRS990/OtherExpensesGrp/FundraisingAmt10
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IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PoliticalCampaignActyInd0false
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IRS990/PrincipalOfcrBusinessName/BusinessNameLine1Txt0President
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IRS990/ProhibitedTaxShelterTransInd0false
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IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0724725
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd0true
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd0false
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IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd0false
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd0false
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd0true
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IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicSupportCY170Pct00
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0113800
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0Metropolitan Library System
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt0113800
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt0262426
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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0183263
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IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt0138769
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IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt0192591
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IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt09465

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,239,387
Liabilities
$3,080
Net assets
$7,236,307
Revenue
$927,155
Expenses
$202,430
Net income
$724,725
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