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Okm Properties INC FY2021 filing

Not tax-deductible

Bartlesville, OK501(c)(5)Community DevelopmentEIN 73-1554930Revenue $62K in FY2021

On file with the IRS415 S Dewey Ave 100, 74003-3524 · Bartlesville, OKTax-exempt since Sep 1999

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Supporting the educational and cultural activities of the bartlesville community through the annual ok mozart festival and year round music programming.

84¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(5)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $34K a year · 107% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$174K
38% of total assets
Looks good: liabilities are 38% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$62K
-0.7% vs prior year
Spent
$85K
To programs
84%
Net assets
$280K
By yearFY2020–FY2024
Revenue
$62K
FY2021▼ -0.7%
Tap a bar for its year
Revenue by fiscal year
FY2020$62K
FY2021$62K
FY2022$54K
FY2023$35K
FY2024−$53K
Expenses
$85K
FY2021▲ +20%
Tap a bar for its year
Expenses by fiscal year
FY2020$71K
FY2021$85K
FY2022$87K
FY2023$88K
FY2024$0
Net assets
$280K
FY2021▼ -8%
Tap a bar for its year
Net assets by fiscal year
FY2020$303K
FY2021$280K
FY2022$241K
FY2023$186K
FY2024$134K

From the FY2021 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 1999.

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

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $72K Management & general 16% · $14K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
John Mihm
Vice-Chairman
$0Pt VII · Sec A
See Okm Properties INC 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 15aNo

Programs and updates

Sustain community arts and education through an annual music festival and year-round programs.

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Provided by the organization

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1 program · $72K · in their own filed words · FY2021
01

Net rental income distributions help support the annual ok mozart festival and year round music programming in bartlesville, oklahoma.

$72Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$62K
Ln 12
Other incomeLn 4–11$48K
Gifts and grantsLn 1h$14K
Money outPt IX
$85K
Ln 25
Programscol B$72K
Managementcol C$14K
Owns and owesPt X
$280K
net assets · Ln 32
Cash and savingsLn 1–2$16K
Total assetsLn 16$454K
LiabilitiesLn 26$174K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$14K
Other incomeLn 4–11$48K
Total revenueLn 12$62K
Assets in detailPt X, end of year
CashLn 1$16K
Cash and savings togetherLn 1–2$16K
Land, buildings, equipmentLn 10c$387K
Total assetsLn 16$454K
LiabilitiesLn 26$174K
Net assetsLn 32$280K
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$18K$16K
Land, buildings, equipmentLn 10c$401K$387K
Total assetsLn 16$426K$454K
LiabilitiesLn 26$123K$174K
Net assetsLn 32$303K$280K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$1K$1K
OccupancyLn 16$49K$49K
InterestLn 20$8K$8K
Depreciation, depletion and amortizationLn 22$22K$22K
InsuranceLn 23$5K$5K
Total functional expensesLn 25$85K$72K$14K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest −$53K$0−$53K$134K 990 PDF
FY2023 $35K$88K−$53K$186K 990 PDF
FY2022 $54K$87K−$34K$241K 990 PDF
FY2021 Viewing $62K$85K−$23K$280K 990 PDF
FY2020 $62K$71K−$8K$303K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $61,995 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,000$13,615
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $61,448$48,380
I-12 Total revenuePrior year $62,448$61,995
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 $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $70,875$85,354
I-18 Total expensesPrior year $70,875$85,354
I-19 Revenue less expensesPrior year −$8,427−$23,359
Part VI · Governance 7 of 7 board members independent, 3 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $61,995 across 4 lines filed
VIII-1f All other contributions, gifts and grants$13,615
VIII-1h Total contributions, gifts and grants$13,615
VIII-6 Net rental income or lossExcluded from tax $48,380$48,380
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $48,380$61,995
Part IX · Statement of functional expenses $85,354 across 5 lines filed
IX-11c Accounting feesManagement $1,000$1,000
IX-16 OccupancyPrograms $49,443$49,443
IX-20 InterestManagement $7,876$7,876
IX-22 Depreciation, depletion and amortizationPrograms $22,062$22,062
IX-23 InsuranceManagement $4,973$4,973
IX-25 Total functional expensesPrograms $71,505 · Management $13,849 · Fundraising $0$85,354
Part X · Balance sheet $453,800 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $17,579$16,220
X-4 Accounts receivableStart of year $8,120$50,867
X-10c Land, buildings and equipment, netStart of year $400,575$386,713
X-16 Total assetsStart of year $426,274$453,800
X-17 Accounts payable and accrued expensesStart of year $526$685
X-25 Other liabilitiesStart of year $1,333$1,333
X-26 Total liabilitiesStart of year $122,978$173,863
X-27 Net assets without donor restrictionsStart of year $303,296$279,937
X-32 Total net assets or fund balancesStart of year $303,296$279,937
X-33 Total liabilities and net assetsStart of year $426,274$453,800
Part XI · Reconciliation of net assets $279,937 net assets at year end
XI-1 Total revenue$61,995
XI-2 Total expenses$85,354
XI-3 Revenue less expenses−$23,359
XI-4 Net assets at start of year$303,296
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$279,937

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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