Library Endowment Trust
- Assets
- $7.1m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Oklahoma City, OK
- Founding
- 04/1988
- Data as of
- 06/2021
- EIN
- 73-6227587
Organization Overview
Library Endowment Trust is located in Oklahoma City, OK. The organization was established in 1988. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Library Endowment 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 06/2021, Library Endowment Trust generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 29.8% each year . All expenses for the organization totaled $1.1m during the year ending 06/2021. While expenses have increased by 32.3% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANT DOLLARS GIVEN TO THE METROPOLITAN LIBRARY SYSTEM TO AID THE LIBRARY IN ITS YEARLY PROGRAMMING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ron Bryne Secretary / Treasurer | OfficerTrustee | 1 | $0 |
Roberta Fields President | OfficerTrustee | 1 | $0 |
Larry Davis Vice President | OfficerTrustee | 1 | $0 |
David Carpenter Trustee | Trustee | 1 | $0 |
Carrie Sparling Trustee | Trustee | 1 | $0 |
Elizabeth Garrison Trustee | Trustee | 1 | $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 | $138,769 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $138,769 |
| Total Program Service Revenue | $0 |
| Investment income | $271,726 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,689,197 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $997,203 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $28,952 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $19,445 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,197 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $431 |
| All other expenses | $0 |
| Total functional expenses | $1,052,200 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $645,574 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $19,845 |
| 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 | $10,000 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $6,203,045 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $231,196 |
| Total assets | $7,109,660 |
| Accounts payable and accrued expenses | $9,675 |
| Grants payable | $0 |
| 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 | $0 |
| Total liabilities | $9,675 |
| Net assets without donor restrictions | $4,934,833 |
| Net assets with donor restrictions | $2,165,152 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $7,109,660 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Library Endowment Trust has recieved totaling $200.
| Awarding Organization | Amount |
|---|---|
Penner Foundation Oklahoma City, OK PURPOSE: GENERAL OPERATING | $200 |
Endowment Analysis
| Beg. Balance | $6,469,236 |
| Earnings | $1,553,855 |
| Admin Expense | $54,997 |
| Net Contributions | $138,769 |
| Grants | $997,203 |
| Ending Balance | $7,109,660 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Umkc Foundation Kansas City, MO | $70,681,044 | $43,162,989 |
New Mexico State University Foundation Inc Las Cruces, NM | $355,498,587 | $111,307,691 |
St Louis Charter Schools St Louis, MO | $19,224,709 | $16,300,473 |
Washburn University Foundation Topeka, KS | $212,049,839 | $17,810,833 |
America Can Cars For Kids Dallas, TX | $4,240,577 | $12,374,341 |
Linda Hall Library Trust Kansas City, MO | $201,287,634 | $7,552,380 |
Fort Hays State University Foundation Hays, KS | $117,134,366 | $18,921,024 |
Friends Of Imagine International Academy Of North Texas Mckinney, TX | $32,038,501 | $13,231,420 |
Cynthia & Geo Mitchell Foundation The Woodlands, TX | $379,261,425 | $375,406 |
University Of Northern Colorado Foundation Inc Greeley, CO | $134,921,327 | $19,470,249 |
Private Education-Employers Trust St Louis, MO | $386,613 | $11,502,248 |
Emporia State University Foundation Emporia, KS | $139,579,484 | $15,768,413 |