Richard K Lane & Ruth S Lane Memorial Trust
- Assets
- $2.1m
- Revenue
- $203.8k
- Investments
- $1.8m
- Employees
- 0
- Location
- Tulsa, OK
- Founding
- 03/1995
- Data as of
- 12/2021
- EIN
- 73-6147139
Organization Overview
Richard K Lane & Ruth S Lane Memorial Trust is located in Tulsa, OK. The organization was established in 1995. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Richard K Lane & Ruth S Lane Memorial Trust is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Richard K Lane & Ruth S Lane Memorial Trust generated $203.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $213.1k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Richard K Lane & Ruth S Lane Memorial Trust has awarded 24 individual grants totaling $1,125,087. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Midfirst Bank Trustee | 1 | $20,918 | |
Sharon Bell Co-Trustee | 1 | $18,992 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $68,405 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $107,167 |
| Capital Gain Net Income | $107,167 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $28,269 |
| Total Revenue | $203,841 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $39,910 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,078 |
| Depreciation | $4,050 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $6,152 |
| Total operating and administrative expenses | $66,157 |
| Contributions, gifts, grants paid | $146,964 |
| Total expenses and disbursements | $213,121 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $274,210 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $48,202 |
| Total assets | $2,112,642 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Richard K Lane & Ruth S Lane Memorial Trust has awarded $146,964 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Tulsa, OK PURPOSE: RK LANE LAW FELLOWSHIP & | $73,482 |
Oklahoma City, OK PURPOSE: HIGH PERFORMANCE COMPUTING | $36,741 |
Tulsa, OK PURPOSE: SECURITY SYSTEM HVAC LED | $36,741 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
K State Athletics Inc Manhattan, KS | $295,810,411 | $83,903,998 |
Waterstone Support Foundation Inc Colorado Springs, CO | $127,103,327 | $45,122,757 |
Legett Foundation Abilene, TX | $82,883,497 | $23,683,505 |
Kickapoo Springs Foundation Abilene, TX | $72,184,356 | $14,228,741 |
1million Project Foundation Overland Park, KS | $8,054,178 | $5,845,168 |
Northeast Kansas Community Action Program Hiawatha, KS | $3,012,533 | $8,873,734 |
Gibbs Christian Education Foundation Inc Owasso, OK | $5,420,863 | $1,976,079 |
David And Molly Pyott Foundation Avon, CO | $9,634,209 | $3,719,915 |
Epicpromise Employee Foundation Broomfield, CO | $1,990,176 | $1,259,560 |
Liberty Ukraine Foundation Austin, TX | $882,212 | $2,684,973 |
Trinity Oaks Enterprises San Antonio, TX | $6,662,220 | $1,110,541 |
At&t Employee Relief Fund Dallas, TX | $5,954,314 | $1,646,484 |