Civic Intelligence

Midland Energy Library Inc

990 • Fiscal year 2019 • EIN 75-1985827

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 10, 2020

2900 W Front StreetMidland, TX 79701

(432) 683-8057

Siviq Scores

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

Liabilities / Assets

30th percentile

0.01x

Higher debt load relative to assets than 30% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

38th percentile

0.05x

Higher debt load relative to revenue than 38% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

38th percentile

-0.3%

Higher net margin than 38% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

32nd percentile

-1.8%

Faster asset growth than 32% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

64th percentile

11%

Faster revenue growth than 64% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Down

$1,511,881

Down $27,690 (-1.8%) from 2018

Net Assets

Up

$1,491,454

Up $996 (+0.1%) from 2018

Liabilities

Down

$20,427

Down $28,686 (-58%) from 2018

Revenue

Up

$446,192

Up $44,474 (+11%) from 2018

Expenses

Up

$447,523

Up $9,157 (+2.1%) from 2018

Net Income

Up

-$1,331

Up $35,317 (+96%) from 2018

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2010: $642,550Liabilities 2010: $33,911Net Assets 2010: $608,6392010Assets 2011: $1,497,515Liabilities 2011: $639,370Net Assets 2011: $858,1452011Assets 2012: $1,441,660Liabilities 2012: $227,113Net Assets 2012: $1,214,5472012Assets 2013: $1,408,992Liabilities 2013: $46,393Net Assets 2013: $1,362,5992013Assets 2014: $1,543,365Liabilities 2014: $740Net Assets 2014: $1,542,6252014Assets 2015: $1,618,374Liabilities 2015: $834Net Assets 2015: $1,617,5402015Assets 2016: $1,610,950Liabilities 2016: $48,548Net Assets 2016: $1,562,4022016Assets 2017: $1,563,582Liabilities 2017: $49,643Net Assets 2017: $1,513,9392017Assets 2018: $1,539,571Liabilities 2018: $49,113Net Assets 2018: $1,490,4582018Assets 2019: $1,511,881Liabilities 2019: $20,427Net Assets 2019: $1,491,4542019Assets 2020: $1,480,150Liabilities 2020: $18,802Net Assets 2020: $1,461,3482020Assets 2021: $1,418,665Liabilities 2021: $19,855Net Assets 2021: $1,398,8102021Assets 2022: $1,470,315Liabilities 2022: $20,478Net Assets 2022: $1,449,8372022Assets 2023: $1,455,602Liabilities 2023: $22,497Net Assets 2023: $1,433,1052023Assets 2024: $1,430,204Liabilities 2024: $23,106Net Assets 2024: $1,407,0982024

Highlighted filing

2019

Assets$1,511,881
Liabilities$20,427
Net Assets$1,491,454

Operations Trend

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

$600K$400K$200K$0-$200KExpenses 2010: $487,7082010Expenses 2011: $475,3292011Expenses 2012: $460,4282012Revenue 2013: $570,566Expenses 2013: $422,514Net Income 2013: $148,0522013Revenue 2014: $529,987Expenses 2014: $392,071Net Income 2014: $137,9162014Revenue 2015: $445,837Expenses 2015: $370,922Net Income 2015: $74,9152015Revenue 2016: $384,171Expenses 2016: $394,599Net Income 2016: -$10,4282016Revenue 2017: $355,638Expenses 2017: $404,101Net Income 2017: -$48,4632017Revenue 2018: $401,718Expenses 2018: $438,366Net Income 2018: -$36,6482018Revenue 2019: $446,192Expenses 2019: $447,523Net Income 2019: -$1,3312019Revenue 2020: $403,487Expenses 2020: $439,220Net Income 2020: -$35,7332020Revenue 2021: $355,564Expenses 2021: $432,062Net Income 2021: -$76,4982021Revenue 2022: $422,534Expenses 2022: $344,545Net Income 2022: $77,9892022Revenue 2023: $330,830Expenses 2023: $360,259Net Income 2023: -$29,4292023Revenue 2024: $342,846Expenses 2024: $366,048Net Income 2024: -$23,2022024

Highlighted filing

2019

Revenue$446,192
Expenses$447,523
Net Income-$1,331
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 10, 2020
Return Version
2019v5.0
Gross Receipts
$446,192
Mission and Program Overview

Mission

To collect, preserve, catalog and exhibit scientific, geological and engineering data gathered by the petroleum industry - to be a working library for use by industry professionals, educators, students and other members of the interested public.

Midland energy library was established to house and preserve scientific petroleum data for present and future researchers and explorationists in the oil and gas industry.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,177,585$1,120,715▼ $56,870
Investments in Publicly Traded Securities-$167,492-
Cash and Non-Interest-Bearing Accounts$202,543$99,873▼ $102,670
Savings and Temporary Cash Investments$129,917$96,003▼ $33,914
Prepaid Expenses and Deferred Charges$19,236$19,320▲ $84
Accounts Receivable$10,290$8,478▼ $1,812
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$1,539,571$1,511,881▼ $27,690
Other Assets Total-$0-
Liabilities
Other Liabilities$47,955$18,400▼ $29,555
Accounts Payable and Accrued Expenses$1,158$2,027▲ $869
Total Liabilities$49,113$20,427▼ $28,686
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,490,458$1,491,454▲ $996
Total Net Assets Fund Balance$1,490,458$1,491,454▲ $996
Total Liabilities and Net Assets / Fund Balance$1,539,571$1,511,881▼ $27,690

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,032,440$366,350$1,398,790
Other Land Buildings$53,275$647,074$700,349
Land$35,000-$35,000
Compensation and Service Providers

Board Members and Trustees

NameTitle
Cherry MatchusPresident
Alan LefeverVice President
Chris CuylerDirector
Curtis HelmsDirector
Dan GeorgeDirector
Earl SebringDirector
Erin Van Evera-welchDirector
Mike MillerDirector
Robert CampbellDirector
Robert TrenthamDirector
Ronald FredrickDirector
Stephen ShawDirector
Tom KingDirector
William HardieSecretary
Brian LuginbillTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$28,355
Program Service Revenue
$381,164
Investment Income
$1,179
Other Revenue
$35,494
All Other Contributions
$28,355
Change in Net Assets
$-1,331
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$270,941
Other Expenses$176,582
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$178,602$22,073-$200,675
Depreciation Depletion$58,249$7,199-$65,448
Other Employee Benefits$46,275$5,720-$51,995
Payroll Taxes$16,261$2,010-$18,271
Insurance-$16,886-$16,886
Information Technology$14,869--$14,869
Fees for Services Accounting-$10,250-$10,250
Office Expenses$7,687$2,191-$9,878
All Other Expenses$1,752$6,732-$8,484
Other Expenses$3,254$402-$3,656
Total Functional Expenses$358,205$89,318$0$447,523
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Membership Deposits$18,400
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

The completed form 990 is provided to the board electronically or by hard copy before it is filed. At the board meeting closest to the filing date, the board reviews and approves the form 990.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

Compensation is reviewed and approved by the entire board. The board considers the local economy and job market when performing the review.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Governing documents, policies and financial statements are not made available for public review.

Filing and Contact Details

Filer

Filer Name
Midland Energy Library Inc
EIN
75-1985827
Phone
4326838057
Address
2900 W FRONT STREET, Midland, TX 79701

Signing Officer

Name
Cherry Matchus
Title
President
Signed
2020-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cherry Matchus
Formed
1984
Legal Domicile
TX
Voting Board Members
15
Independent Board Members
15
Employees
5
Volunteers
15

Preparer

Firm
C Marc Martin CPA
Address
PO Box 1775, Midland, TX 79702-1775
Preparer
C Marc Martin CPA
Phone
4326850094
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

The library adheres to accounting standards for uncertain income tax positions, which would require additional disclosure. This applies to positions taken or expected to be taken in a tax return. The organization does not believe its financial statements include any uncertain tax positions.

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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2786
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0132
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IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt07500
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IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.43$0.02$1.41$0.34$0.37$0.02
2023Detailed filing. Detailed filing data is available for this year.$1.46$0.02$1.43$0.33$0.36$0.03
2022Detailed filing. Detailed filing data is available for this year.$1.47$0.02$1.45$0.42$0.34$0.08
2021Detailed filing. Detailed filing data is available for this year.$1.42$0.02$1.40$0.36$0.43$0.08
2020Detailed filing. Detailed filing data is available for this year.$1.48$0.02$1.46$0.40$0.44$0.04
2019Detailed filing. Detailed filing data is available for this year.$1.51$0.02$1.49$0.45$0.45$0.00
2018Detailed filing. Detailed filing data is available for this year.$1.54$0.05$1.49$0.40$0.44$0.04
2017Detailed filing. Detailed filing data is available for this year.$1.56$0.05$1.51$0.36$0.40$0.05
2016Detailed filing. Detailed filing data is available for this year.$1.61$0.05$1.56$0.38$0.39$0.01
2015Detailed filing. Detailed filing data is available for this year.$1.62$0.00$1.62$0.45$0.37$0.07
2014Detailed filing. Detailed filing data is available for this year.$1.54$0.00$1.54$0.53$0.39$0.14
2013Detailed filing. Detailed filing data is available for this year.$1.41$0.05$1.36$0.57$0.42$0.15
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.44$0.23$1.21$0.46
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.50$0.64$0.86$0.48
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.64$0.03$0.61$0.49