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The Jkm Library Trust FY2023 filing

Tax-deductible

Chicago, IL501(c)(3)Since 1995Foundations & Grantmakers EIN 36-7238766Revenue $825K in FY2023

On file with the IRSjkmlibrary.org5416 S Cornell Ave 4th Floor, 60615-5604 · Chicago, ILTax-exempt since May 1999Supporting organization — 509(a)(3)

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The Jkm Library Trust comprising its staff, services, systems, functions, materials and virtual resources exists primarily to support the missions and programs of the lutheran school of theology at chicago and mccormick theological seminary.

501(c)(3) charity; gifts are tax-deductible.
83¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $30K a year · 4% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.0 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$90K
24% of total assets
Looks good: liabilities are 24% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2
of 9 voting members
Worth a look: 2 of 9 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$825K
-16% vs prior year
Spent
$841K
To programs
83%
Net assets
$277K
By yearFY2021–FY2025
Revenue
$825K
FY2023▼ -16%
Tap a bar for its year
Revenue by fiscal year
FY2021$927K
FY2022$977K
FY2023$825K
FY2024$649K
FY2025$295K
Expenses
$841K
FY2023▼ -12%
Tap a bar for its year
Expenses by fiscal year
FY2021$915K
FY2022$961K
FY2023$841K
FY2024$761K
FY2025$345K
Net assets
$277K
FY2023▼ -5%
Tap a bar for its year
Net assets by fiscal year
FY2021$277K
FY2022$293K
FY2023$277K
FY2024$165K
FY2025$114K

From the FY2023 Form 990 (year ending June 2023) · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 1999.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $699K Management & general 17% · $142K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

10 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Ken Sawyer
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
See The Jkm Library Trust executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides library resources and services to support theological education at two seminaries.

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1 program · $699K · in their own filed words · FY2022
01

The JKM library trust (the library) provides a cooperative theological library operated and maintained for mccormick theological seminary and the lutheran school of theology at chicago. The two organizations fund the cost of operations and share management functions.

$699Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$825K
Ln 12
Gifts and grantsLn 1h$825K
Money outPt IX
$841K
Ln 25
Programscol B$699K
Managementcol C$142K
Owns and owesPt X
$277K
net assets · Ln 32
Cash and savingsLn 1–2$235
Total assetsLn 16$367K
LiabilitiesLn 26$90K
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$825K
Total revenueLn 12$825K
Assets in detailPt X, end of year
CashLn 1$235
Cash and savings togetherLn 1–2$235
Land, buildings, equipmentLn 10c$298K
Total assetsLn 16$367K
LiabilitiesLn 26$90K
Net assetsLn 32$277K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$235$235
Land, buildings, equipmentLn 10c$311K$298K
Total assetsLn 16$344K$367K
LiabilitiesLn 26$51K$90K
Net assetsLn 32$293K$277K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$14K$14K
Other fees for servicesLn 11g$383K$267K$115K
Office expensesLn 13$27K$13K$13K
OccupancyLn 16$264K$264K
Depreciation, depletion and amortizationLn 22$120K$120K
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$30K$30K
Total functional expensesLn 25$841K$699K$142K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $295K$345K−$50K$114K 990 PDF
FY2024 $649K$761K−$113K$165K 990 PDF
FY2023 Viewing $825K$841K−$16K$277K 990 PDF
FY2022 $977K$961K$16K$293K 990 PDF
FY2021 $927K$915K$12K$277K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $825,092 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $976,436$825,092
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $318$0
I-12 Total revenuePrior year $976,754$825,092
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $97,884$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $863,051$841,132
I-18 Total expensesPrior year $960,935$841,132
I-19 Revenue less expensesPrior year $15,819−$16,040
Part VI · Governance 2 of 9 board members independent, 3 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members2
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $825,092 across 4 lines filed
VIII-1d Related organizations$821,230
VIII-1f All other contributions, gifts and grants$3,862
VIII-1h Total contributions, gifts and grants$825,092
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$825,092
Part IX · Statement of functional expenses $841,132 across 7 lines filed
IX-11c Accounting feesManagement $13,936$13,936
IX-11g Other fees for servicesPrograms $267,490 · Management $115,150$382,640
IX-13 Office expensesPrograms $13,489 · Management $13,059$26,548
IX-16 OccupancyPrograms $263,817$263,817
IX-22 Depreciation, depletion and amortizationPrograms $120,497$120,497
IX-23 InsurancePrograms $4,148$4,148
IX-24 Other expenses (24a–d)Programs $29,546$29,546
IX-25 Total functional expensesPrograms $698,987 · Management $142,145 · Fundraising $0$841,132
Part X · Balance sheet $366,789 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $235$235
X-4 Accounts receivableStart of year $27,656$68,085
X-9 Prepaid expenses and deferred chargesStart of year $4,954$0
X-10c Land, buildings and equipment, netStart of year $310,884$298,469
X-16 Total assetsStart of year $343,729$366,789
X-17 Accounts payable and accrued expensesStart of year $50,539$89,639
X-26 Total liabilitiesStart of year $50,539$89,639
X-27 Net assets without donor restrictionsStart of year $293,190$277,150
X-32 Total net assets or fund balancesStart of year $293,190$277,150
X-33 Total liabilities and net assetsStart of year $343,729$366,789
Part XI · Reconciliation of net assets $277,150 net assets at year end
XI-1 Total revenue$825,092
XI-2 Total expenses$841,132
XI-3 Revenue less expenses−$16,040
XI-4 Net assets at start of year$293,190
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$277,150

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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