Tulsa Royalties Company

Nonprofit profile at a glance

EIN
736101744
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Shawnee, OK, USA
Phone
4055855130
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Affiliation
Christianity

Reported finances

Revenue
$1,579,634
Expenses
$1,579,543
Assets
$162
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • Heath Thomas (Vice President)
  • Randy L Smith (Vice President for Operations/Treasurer)
  • Joshua Wells (President)

Highest reported compensation

  • Heath Thomas (Vice President): $298,939 total reported compensation
  • Lester Kasterke (Assistant Secretary): $203,834 total reported compensation
  • Randy L Smith (Vice President for Operations/Treasurer): $196,970 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

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.

What it reported doing in 2025

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

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 68
  • Accountability: 100
  • Sustainability: 28
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.7%; rating input score 89
  • Program expense ratio: 88.7%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 78th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 88; 88th percentile among comparable filings
  • Officer compensation ratio: 12.7%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: -3.2% per year; rating input score 0; 9th percentile among comparable filings
  • Revenue growth: 0.8% per year; rating input score 100; 14th percentile among comparable filings
  • Asset growth: -3.8% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 88.7% of revenue deployed · 88.7% of spending went to programs
  • Governance: 7 of 7 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.4M in reported program spending
  • Leadership: top reported pay $299K · 10 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 7 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 30/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.