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Okm Properties INC FY2023 filing

Not tax-deductible

Bartlesville, OK501(c)(5)Community DevelopmentEIN 73-1554930Revenue $35K in FY2023

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.

71¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2023 · 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
71%
of spending
Fine: 71% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.5 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$179K
49% of total assets
Looks good: liabilities are 49% 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
$35K
-35% vs prior year
Spent
$88K
To programs
71%
Net assets
$186K
By yearFY2020–FY2024
Revenue
$35K
FY2023▼ -35%
Tap a bar for its year
Revenue by fiscal year
FY2020$62K
FY2021$62K
FY2022$54K
FY2023$35K
FY2024−$53K
Expenses
$88K
FY2023▲ +0.8%
Tap a bar for its year
Expenses by fiscal year
FY2020$71K
FY2021$85K
FY2022$87K
FY2023$88K
FY2024$0
Net assets
$186K
FY2023▼ -23%
Tap a bar for its year
Net assets by fiscal year
FY2020$303K
FY2021$280K
FY2022$241K
FY2023$186K
FY2024$134K

From the FY2023 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2023 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

71 cents of each dollar spent went to programs.

Program services 71% · $63K Management & general 3% · $3K

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
Howard Thill
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
John Mihm
Vice-Chairman
$0Pt VII · Sec A
$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.

Questions for Okm Properties INC

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Provided by the organization

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1 program · $63K · in their own filed words · FY2023
01

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

$63Kprogram expense

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$35K
Ln 12
Other incomeLn 4–11$35K
Money outPt IX
$88K
Ln 25
Programscol B$63K
Managementcol C$3K
Owns and owesPt X
$186K
net assets · Ln 32
Cash and savingsLn 1–2$4K
Total assetsLn 16$365K
LiabilitiesLn 26$179K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Other incomeLn 4–11$35K
Total revenueLn 12$35K
Assets in detailPt X, end of year
CashLn 1$4K
Cash and savings togetherLn 1–2$4K
Land, buildings, equipmentLn 10c$351K
Total assetsLn 16$365K
LiabilitiesLn 26$179K
Net assetsLn 32$186K
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 FY23End FY23
Cash and savingsLn 1–2$10K$4K
Land, buildings, equipmentLn 10c$364K$351K
Total assetsLn 16$402K$365K
LiabilitiesLn 26$161K$179K
Net assetsLn 32$241K$186K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$11K$11K
Payroll taxesLn 10$811$811
Accounting feesLn 11c$3K$3K
Office expensesLn 13$111$111
OccupancyLn 16$38K$38K
InterestLn 20$7K$7K
Depreciation, depletion and amortizationLn 22$22K
InsuranceLn 23$6K$6K
Other expenses (24a–d)Ln 24$258$258
Total functional expensesLn 25$88K$63K$3K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest −$53K$0−$53K$134K 990 PDF
FY2023 Viewing $35K$88K−$53K$186K 990 PDF
FY2022 $54K$87K−$34K$241K 990 PDF
FY2021 $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 FY2023 990 (6 parts)
Part I · Summary $35,215 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $9,000$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $44,780$35,215
I-12 Total revenuePrior year $53,780$35,215
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$11,411
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $87,282$76,608
I-18 Total expensesPrior year $87,282$88,019
I-19 Revenue less expensesPrior year −$33,502−$52,804
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 $35,215 across 2 lines filed
VIII-6 Net rental income or lossExcluded from tax $35,215$35,215
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $35,215$35,215
Part IX · Statement of functional expenses $88,019 across 9 lines filed
IX-7 Other salaries and wagesPrograms $10,600$10,600
IX-10 Payroll taxesPrograms $811$811
IX-11c Accounting feesManagement $3,000$3,000
IX-13 Office expensesPrograms $111$111
IX-16 OccupancyPrograms $37,608$37,608
IX-20 InterestPrograms $7,387$7,387
IX-22 Depreciation, depletion and amortization$22,498
IX-23 InsurancePrograms $5,746$5,746
IX-24 Other expenses (24a–d)Programs $258$258
IX-25 Total functional expensesPrograms $62,521 · Management $3,000 · Fundraising $0$88,019
Part X · Balance sheet $364,825 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $9,609$3,526
X-4 Accounts receivableStart of year $27,546$10,535
X-10c Land, buildings and equipment, netStart of year $364,362$350,764
X-16 Total assetsStart of year $401,517$364,825
X-17 Accounts payable and accrued expenses$31,053
X-25 Other liabilitiesStart of year $1,333$1,333
X-26 Total liabilitiesStart of year $160,707$178,675
X-32 Total net assets or fund balancesStart of year $240,810$186,150
X-33 Total liabilities and net assetsStart of year $401,517$364,825
Part XI · Reconciliation of net assets $186,150 net assets at year end
XI-1 Total revenue$35,215
XI-2 Total expenses$88,019
XI-3 Revenue less expenses−$52,804
XI-4 Net assets at start of year$240,810
XI-8 Prior period adjustments−$1,856
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$186,150

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

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