Midwestern Oklahoma Development Authority
- Assets
- $8.9m
- Revenue
- $722.0k
- Investments
- $0.0
- Employees
- 6
- Location
- Burns Flat, OK
- Founding
- 01/1972
- Data as of
- 09/2023
- EIN
- 73-0791758
Organization Overview
Midwestern Oklahoma Development Authority is located in Burns Flat, OK. The organization was established in 1972. According to its NTEE Classification (W99) the organization is classified as: Public & Societal Benefit N.E.C., under the broad grouping of Public & Societal Benefit and related organizations. As of 09/2023, Midwestern Oklahoma Development Authority employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midwestern Oklahoma Development Authority is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 09/2023, Midwestern Oklahoma Development Authority generated $722.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.6%) each year. All expenses for the organization totaled $529.4k during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (1.5%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Midwestern Oklahoma Development Authority has awarded 29 individual grants totaling $515,942. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ECONOMIC DEVELOPMENT & HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF CLINTON-SHERMAN INDUSTRIAL AIRPARK HOUSING AND PROMOTION OF ECONOMIC DEVELOPMENT IN WESTERN OKLAHOMA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathy Carlisle Executive Dir. | Trustee | 40 | $77,910 |
Brian Mooney Member | Trustee | 0 | $0 |
Guy Hylton Chairman | OfficerTrustee | 0 | $0 |
Rick Weist Member | Trustee | 0 | $0 |
Basil Weatherly Member | Trustee | 0 | $0 |
Jimmy Ingram Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $214,607 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $417,755 |
| Net Gain/Loss on Asset Sales | -$11,749 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $721,997 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $99,968 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $77,910 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $126,799 |
| Pension plan accruals and contributions | $27,122 |
| Other employee benefits | $49,175 |
| Payroll taxes | $17,513 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,665 |
| Fees for services: Accounting | $23,770 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,843 |
| Office expenses | $4,547 |
| Information technology | $1,404 |
| Royalties | $0 |
| Occupancy | $24,944 |
| Travel | $4,200 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,403 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,749 |
| Insurance | $33,008 |
| All other expenses | $0 |
| Total functional expenses | $529,402 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $432,568 |
| Savings and temporary cash investments | $5,406,200 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,800 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $23,566 |
| Net Land, buildings, and equipment | $2,926,575 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $72,400 |
| Total assets | $8,864,109 |
| Accounts payable and accrued expenses | $170,155 |
| Grants payable | $102,968 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,161 |
| Total liabilities | $276,284 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $8,587,825 |
| Total liabilities and net assets/fund balances | $8,864,109 |
Grants Awarded
Over the last fiscal year, Midwestern Oklahoma Development Authority has awarded $94,968 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF CLINTON PURPOSE: Restore basketball court-Baker park | $25,000 |
CITY OF CORDELL PURPOSE: Downtown beautification | $25,000 |
CITY OF ELK CITY PURPOSE: E-sports @ Arrowhead Center | $19,968 |
CITY OF HOBART PURPOSE: Tank/trailer combo + chip spreader | $25,000 |