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Tulsa Royalties Company

Tax-deductible

Shawnee, OK501(c)(3)Since 1951EIN 73-6101744Revenue $1.6M in FY2025

On file with the IRS500 W University St, 74804-2522 · Shawnee, OKTax-exempt since Oct 2002Supporting organization — 509(a)(3)

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Tulsa Royalties Company is a supporting organization, created to provide financial support for Oklahoma Baptist University, an exempt organization. Oklahoma Baptist University is a Christian liberal arts university which transforms lives by equipping students to pursue academic excellence, integrate faith with all areas of knowledge, engage a diverse world and live worthy of the high calling of God in Christ.

501(c)(3) charity; gifts are tax-deductible.
89¢ of each $1 spent went to programs.
Run by 12 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
4 of 6
filings with a surplus
Average surplus $21 a year · under 1% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
89%
of spending
Looks good: 89% 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
$0
0% of total assets
Looks good: liabilities are 0% 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
$1.6M
-3% vs prior year
Spent
$1.6M
To programs
89%
Net assets
$162
By yearFY2020–FY2025
Revenue
$1.6M
FY2025▼ -3%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.1M
FY2021$2.7M
FY2022$3.7M
FY2023$2.1M
FY2024$1.6M
FY2025$1.6M
Expenses
$1.6M
FY2025▼ -3%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.1M
FY2021$2.7M
FY2022$3.7M
FY2023$2.1M
FY2024$1.6M
FY2025$1.6M
Net assets
$162
FY2025▲ +128%
Tap a bar for its year
Net assets by fiscal year
FY2020$102
FY2021$214
FY2022$6
FY2023$145
FY2024$71
FY2025$162

From the FY2025 Form 990 · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 2002.

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

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $1.4M Management & general 11% · $178K

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
Heath Thomas
Vice President
$0Pt VII · Sec A
Lester Kasterke
Assistant Secretary
$0Pt VII · Sec A
Randy L Smith
Vice President for Operations/Treasurer
$0Pt VII · Sec A
Joshua Wells
President
$0Pt VII · Sec A
Matt Brown
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Steve Hall
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Tulsa Royalties Company 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

Funds Christian higher education for students at Oklahoma Baptist University.

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Provided by the organization

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1 program · $1.4M · in their own filed words · FY2025
01

Contributions of financial support for Oklahoma Baptist University. Financial support funds special projects, including campus improvement projects, capital expenditures and retirement of debt.

$1.4Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 6 grants · $11.3M · 2020–2025
Oklahoma Baptist UniversityOK · FY2025$1,401,250
Oklahoma Baptist UniversityOK · FY2024$1,444,525
Oklahoma Baptist UniversityOK · FY2023$1,861,270
Oklahoma Baptist UniversityOK · FY2022$3,253,000
Oklahoma Baptist UniversityOK · FY2021$2,418,750
Oklahoma Baptist UniversityOK · FY2020$965,500

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.6M
Ln 12
Other incomeLn 4–11$1.6M
Investment incomeLn 3$3K
Money outPt IX
$1.6M
Ln 25
Programscol B$1.4M
Managementcol C$178K
Owns and owesPt X
$162
net assets · Ln 32
Cash and savingsLn 1–2$162
Total assetsLn 16$162
LiabilitiesLn 26$0
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$3K
Other incomeLn 4–11$1.6M
Total revenueLn 12$1.6M
Assets in detailPt X, end of year
CashLn 1$162
Cash and savings togetherLn 1–2$162
Total assetsLn 16$162
LiabilitiesLn 26$0
Net assetsLn 32$162
OperationsPt I, VI
EmployeesI 50
VolunteersI 612
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$71$162
Total assetsLn 16$71$162
LiabilitiesLn 26$0$0
Net assetsLn 32$71$162
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.4M$1.4M
Investment management feesLn 11f$66K$66K
Other expenses (24a–d)Ln 24$112K$0$112K$0
All other expensesLn 24e$0
Total functional expensesLn 25$1.6M$1.4M$178K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $1.6M$1.6M$91$162 990 PDF
FY2024 $1.6M$1.6M−$74$71 990 PDF
FY2023 $2.1M$2.1M$139$145 990 PDF
FY2022 $3.7M$3.7M−$208$6 990 PDF
FY2021 $2.7M$2.7M$112$214 990 PDF
FY2020 $1.1M$1.1M$65$102 990 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 FY2025 990 (6 parts)
Part I · Summary $1,579,634 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $2,397$2,872
I-11 Other revenuePrior year $1,626,887$1,576,762
I-12 Total revenuePrior year $1,629,284$1,579,634
I-13 Grants and similar amounts paidPrior year $1,444,525$1,401,250
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 $184,833$178,293
I-18 Total expensesPrior year $1,629,358$1,579,543
I-19 Revenue less expensesPrior year −$74$91
Part VI · Governance 7 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,579,634 across 4 lines filed
Lines not itemized here account for $26,977 of total revenue; see the IRS return.
VIII-1h Total contributions, gifts and grants$0
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $0 · Excluded from tax $2,872$2,872
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $1,549,785$1,549,785
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $1,579,634$1,579,634
Part IX · Statement of functional expenses $1,579,543 across 4 lines filed
IX-1 Grants to domestic organizationsPrograms $1,401,250$1,401,250
IX-11f Investment management feesManagement $66,314$66,314
IX-24 Other expenses (24a–d)Programs $0 · Management $111,979 · Fundraising $0$111,979
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $1,401,250 · Management $178,293 · Fundraising $0$1,579,543
Part X · Balance sheet $162 assets, 5 lines filed
X-1 Cash, non-interest-bearingStart of year $71$162
X-16 Total assetsStart of year $71$162
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $71$162
X-33 Total liabilities and net assetsStart of year $71$162
Part XI · Reconciliation of net assets $162 net assets at year end
XI-1 Total revenue$1,579,634
XI-2 Total expenses$1,579,543
XI-3 Revenue less expenses$91
XI-4 Net assets at start of year$71
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$162

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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