Midland Energy Library
- Assets
- $1.4m
- Revenue
- $355.6k
- Investments
- $0.0
- Employees
- 5
- Location
- Midland, TX
- Founding
- 02/1985
- Data as of
- 12/2021
- EIN
- 75-1985827
Organization Overview
Midland Energy Library is located in Midland, TX. The organization was established in 1985. As of 12/2021, Midland Energy Library employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midland Energy Library 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, Midland Energy Library generated $355.6k 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 (3.2%) each year. All expenses for the organization totaled $432.1k during the year ending 12/2021. 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
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ENTITY IS A GEOLOGICAL LIBRARY AND CONDUCTS NORMAL LIBRARY OPERATIONS INCLUDING PRESERVING AND MAKING AVAILABLE ONE OF A KIND DATA FOR USE IN THE EXPLORATION FOR OIL AND GAS AND CERTAIN MINERAL RESOURCES WITHIN THE PERMIAN BASIN. THE LIBRARY ESTIMATES THAT IT BENEFITS 200-300 PEOPLE A MONTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Luginbill Treasurer | OfficerTrustee | 1 | $0 |
Cherry Matchus President | OfficerTrustee | 1 | $0 |
William Hardie Secretary | OfficerTrustee | 1 | $0 |
Alan Lefever Vice President | OfficerTrustee | 1 | $0 |
Ronald Fredrick Director | Trustee | 1 | $0 |
Tom King Director | 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 | $52,905 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $52,905 |
| Total Program Service Revenue | $287,884 |
| Investment income | $2,720 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $8,943 |
| Net Rental Income | $2,400 |
| 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 | $355,564 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $185,784 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $46,550 |
| Payroll taxes | $15,078 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $7,430 |
| Information technology | $13,234 |
| 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 | $62,476 |
| Insurance | $16,778 |
| All other expenses | $9,929 |
| Total functional expenses | $432,062 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $82,438 |
| Savings and temporary cash investments | $68,238 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,850 |
| 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 | $24,674 |
| Net Land, buildings, and equipment | $993,097 |
| Investments—publicly traded securities | $242,368 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,418,665 |
| Accounts payable and accrued expenses | $755 |
| 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 | $19,100 |
| Total liabilities | $19,855 |
| Net assets without donor restrictions | $1,398,810 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $1,418,665 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Midland Energy Library has recieved totaling $30,000.
| Awarding Organization | Amount |
|---|---|
H L Brown Jr Family Foundation Midland, TX PURPOSE: GENERAL SUPPORT | $30,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Development Institute Head Start Denver, CO | $4,503,361 | $99,466,958 |
Columbia College Columbia, MO | $267,475,036 | $84,570,180 |
Union University Jackson, TN | $193,669,100 | $103,290,604 |
Ypo Inc irving, TX | $225,170,372 | $113,445,633 |
American Leadership Academy Inc Mesa, AZ | $282,415,478 | $95,654,658 |
College Of The Ozarks Point Lookout, MO | $787,489,229 | $134,988,466 |
Principia Corporation St Louis, MO | $1,121,774,918 | $256,921,200 |
Texas Wesleyan University Fort Worth, TX | $187,144,342 | $108,798,845 |
Park University Parkville, MO | $196,638,780 | $102,110,275 |
Texas A & M University 12th Man Foundation College Station, TX | $205,287,780 | $55,896,745 |
Benedictine College Atchison, KS | $163,686,664 | $96,440,027 |
Trevecca Nazarene University Nashville, TN | $238,062,092 | $96,180,255 |