Library Endowment Trust
300 Park Ave
Oklahoma City OK 73102
Tax Exempt Status Public Charity Type I Supporting Organization
Organization Does Business As (DBA) Name(s)
Organization DBA
Library Endowment Trust
Mission Statement To grow the endowment to enhance our libraries.
Contact Information
Contact Name Heather Zeoli
Contact email development@metrolibrary.org
Address 300 Park Ave
Oklahoma City, OK 73102
Phone (405) 606-3760
Fax 405-606-3735
County Oklahoma County
Alternate Phone 405 606-3761
How to Give
Donate to Endowment http://occf.org/let/
Other ways to donate, support or volunteer
Gifts to the Library Endowment Trust will benefit future generations of library patrons for years to come and strengthen our communities in Oklahoma County and beyond.  Your gift can be given to the Annual Fund, in support of the Literary Voices author dinner, or in honor or memory of a special person in your life.  You can also make a gift to your favorite library.
 
Check, cash or credit cards
These are all acceptable methods of making a gift.  Gifts by credit or debit card can be through our website and checks can be mailed to:  The Library Endowment Trust, c/o The Metropolitan Library System, 300 Park Avenue, Oklahoma City, OK 73102.
 
Planned Giving
Have you considered including The Library Endowment Trust in your estate?  We would be happy to speak with you regarding options for leaving a gift to the Endowment in your will or by way of another gift vehicle to provide lifetime interest.  We encourage you to talk with your personal attorney or trust officer of your bank -- only you can make the decision of how your lifetime earnings will benefit generations to come.  If we can be of assistance or to answer additional questions you may have, please contact our office directly.
Financial Summary
 
 
Projected Revenue $386,000.00
Projected Expenses $231,400.00
History and Background
Former Names
NameYear
Endowment Trust of Friends of the Metropolitan Library System of Oklahoma County1988
Supported Organization Metropolitan Library System
Year Founded 1986
IRS Ruling Year 1988
State Registration Expiration Dec 2014
Statements
Mission To grow the endowment to enhance our libraries.
Background

The Library Endowment Trust is an independent 501(c)(3) organization whose purpose is to create extra funds above the tax base to provide excellence in Oklahoma County’s public libraries. The Board of Trustees is composed of 15 to 22 people and meets a minimum of four times a year, per the organization’s bylaws. The primary purpose of the board is two-fold – fiduciary (investing and protecting endowment funds) and fundraising (soliciting gifts to grow endowment funds). 

Area Served
Area Served
Geographic Area Served
Central Oklahoma

The Metropolitan Library System's primary service area is Oklahoma County and Oklahoma City beyond the county boundaries.


Service Categories
Secondary Organizational Category Arts,Culture & Humanities/Fund Raising & Fund Distribution
Tertiary Organizational Category Education/Libraries
CEO/Executive Director
CEO/Executive Director N/A N/A
Start Date Jan 0
Email N/A
Staff
Number of Full-time Staff 0
Number of Part-time Staff 0
Number of Contract Staff 2
Number of Volunteers 52
Does CEO/Executive Director have formal evaluations? N/A
Management reports to board? N/A
Organizational Plans
Fundraising Plan No
Policy against commission-based compensation for fundraising consultant No
Communication Plan No
Strategic Plan No
Management Succession Plan No
Organization Policies and Procedures Yes
Government Licenses
Is your organization licensed by the government (federal, state and/or local)? No
Board Chair
Name Mrs. Suzie Symcox
Company Affiliation First Fidelity Bank
Term July 2016 to June 2018
Email ssymcox@first-fidelity.com
Board of Directors
List Current as of July 01, 2016
Board of Directors List
NameAffiliationStatus
Mrs. Susan Adams Ronald McDonald House of Oklahoma CityVoting
Mr. Brian T. Alford OGE Energy Corp.Voting
Mrs. Catherine Armitage Community VolunteerVoting
Mr. David R. Carpenter American Fidelity AssuranceVoting
Mr. Robert Clements Clements FoodsVoting
Mrs. Karen Delaney Community VolunteerVoting
Mr. Kevin Dunnington Harding & Shelton, Inc.Voting
Mr. David Durrett The First State BankVoting
Ms. Roberta Fields McAfee & TaftVoting
Mrs. Gail Huneryager Hogan TaylorVoting
Mr. Steve Payne C. L. Frates & CompanyVoting
Mr. Mark Robertson Robertson & WilliamsVoting
Mrs. Heather Ross Community VolunteerVoting
Mrs. Suzie Symcox First Fidelity BankVoting
Mr. Craig Woodruff Archer Well CompanyVoting
Board Demographics - Gender
Male 9
Female 7
Current Fiscal Year
Fiscal Year July 01, 2016-June 30, 2017
Current Year Budgeted Total Income $386,000
Current Year Budgeted Total Expenses $231,400
IRS Letter of Determination
Prior Three Years' Financial History
Revenue and ExpensesHelpFinancial data for prior years is entered by foundation staff based on the documents submitted by nonprofit organizations.Foundation staff members enter this information to assure consistency in the presentation of financial data across all organizations.
Fiscal Year201420132012
Total Revenue$1,766,500$1,048,600$194,127
Total Expenses$120,332$126,855$135,572
Revenue Less Expenses$1,646,168$921,745$58,555
Revenue SourcesHelpThe financial analysis involves a comparison of the IRS Form 990 and the audit report (when available) and revenue sources may not sum to total based on reconciliation differences. Revenue from foundations and corporations may include individual contributions when not itemized separately.
Fiscal Year201420132012
Foundation and
Corporation Contributions
----$1,550
Government Contributions$0$0$0
Federal------
State------
Local------
Unspecified------
Individual Contributions$1,166,109$634,097$28,842
------
------
Investment Income, Net of Losses$30,146$33,940$35,756
Unrealized Gain/Loss$343,250$169,123($21,641)
Membership Dues------
Special Events$226,995$211,440$149,620
Revenue In-Kind------
Other------
Expense Allocation
Fiscal Year201420132012
Program Expense$21,223$6,050$85,278
Administration Expense$20,056$17,210$47,297
Fundraising Expense$79,053$103,595$2,997
Payments to Affiliates------
Total Revenue/Total Expenses14.688.271.43
Program Expense/Total Expenses18%5%63%
Fundraising Expense/Contributed Revenue6%12%2%
Assets and Liabilities
Fiscal Year201420132012
Total Assets$4,353,541$2,703,623$1,781,879
Current Assets$46,714$671,108$100,619
Long-Term Liabilities------
Current Liabilities$3,750----
Total Net Assets$4,349,791$2,703,623$1,781,879
Solvency
Short Term Solvency
Fiscal Year201420132012
Current Ratio: Current Assets/Current Liabilities12.46----
Long Term Solvency
Fiscal Year201420132012
Long-Term Liabilities/Total Assets0%0%0%
Funding Sources
Top Funding Sources
Fiscal Year201420132012
Top Funding Source & Dollar AmountIndividuals $1,166,109Individuals $634,097Special Events $149,620
Second Highest Funding Source & Dollar AmountRealized & Unrealized $343,250Special Events $211,440Investment Income $35,756
Third Highest Funding Source & Dollar AmountSpecial Events $226,995Realized & Unrealized $169,123Individuals $28,842
Endowment? Yes
Endowment Spending Policy Percentage
Endowment Spending Policy Percentage (if selected) 5 %
Credit Line? No
Reserve Fund? No
Capital Campaign
Currently in a Capital Campaign? No
Comments on Financials
CEO/Executive Director/Board Comments 2015 audit still in process.
Foundation Staff Comments
All prior year financial information is from audited financial statements. 
Address 300 Park Ave
Oklahoma City, OK 73102
Primary Phone 405 606-3760
Give to Endowment http://occf.org/let/
CEO/Executive Director N/A N/A
Board Chair Mrs. Suzie Symcox
Board Chair Company Affiliation First Fidelity Bank