OIL INFORMATION LIBRARY OF WICHITA… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1966

Legal Domicile

Principal Officer

REBECCA MERKEL

Phone

9403224241

Tax Period

2024-05-01 to 2025-04-30

OIL INFORMATION LIBRARY OF WICHITA FALLS, founded in 1966, is a small nonprofit that reported $221K in total revenue in fiscal year 2024. Revenue decreased 16% compared to the prior year. Expenses of $265K exceeded revenue, resulting in a 20% operating deficit.

Mission

GEOLOGICAL RESEARCH LIBRARY TO PROMOTE, ENCOURAGE AND ADVANCE RESEARCH AND STUDY IN THE FIELD OF GEOLOGICAL SCIENCE.

Program Service Accomplishments

Program 1

Expenses: $228,820 Revenue: $209,374

GEOLOGICAL RESEARCH LIBRARY IS ORGAINIZED TO PROMOTE, ENCOURAGE AND ADVANCE RESEARCH AND STUDY IN THE FIELD OF GEOLOGICAL SCIENCE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $11,377

Program Service Revenue $169,434

Investment Income $33,993

Other Revenue $5,947

TOTAL REVENUE $220,751

Expense Breakdown

Grants Paid $0

Salaries & Benefits $192,162

Fundraising Expenses $0

Program Expenses $228,820

Other Expenses $72,370

TOTAL EXPENSES $264,532

Year-over-Year Comparison

	2024	2023	Change
Revenue	$220,751	$264,078	-0.2%
Expenses	$264,532	$215,973	+0.2%
Net Income	$-43,781	$48,105	-1.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BUD RICHARDSON	PRESIDENT	1.00	Officer Director	$0	$0	$0
CHANCE CONDRON	VICE-PRESIDENT	1.00	Officer Director	$0	$0	$0
JERRY HICKMAN	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
JOHN MEDDERS	DIRECTOR	1.00	Officer Director	$0	$0	$0
JOEL HAWKINS	DIRECTOR	1.00	Director	$0	$0	$0
TRENT HENDERSON	DIRECTOR	1.00	Director	$0	$0	$0
CARL CRAIG	DIRECTOR	1.00	Director	$0	$0	$0
RICK APPLING	DIRECTOR	1.00	Director	$0	$0	$0
REBECCA MERKEL	GENERAL MANAGER	40.00	Highest	$65,189	$0	$65,189

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$220,751	$264,532	$312,823	$-43,781
2024	$264,078	$215,973	$355,278	$48,105
2023	$203,352	$212,839	$307,580	$-9,487
2022	$256,275	$199,655	$316,226	$56,620
2021	$279,961	$267,256	$261,289	$12,705

OIL INFORMATION LIBRARY OF WICHITA FALLS