Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020
Name of foundation
LT OPERATING FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)1124 SOUTH LEWIS AVENUE
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
TULSA, OK74104
A Employer identification number

82-1728733
B Telephone number (see instructions)

(918) 583-2955
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$10,304,262J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 2,061,750
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 62,346 62,346  
5a Gross rents............ 221,276   221,276
b Net rental income or (loss) -761,696
6a Net gain or (loss) from sale of assets not on line 10 31,055
b Gross sales price for all assets on line 6a 1,759,520
7 Capital gain net income (from Part IV, line 2)... 31,055
8 Net short-term capital gain......... 22,760
9 Income modifications...........  
10a Gross sales less returns and allowances 193,233
b Less: Cost of goods sold.... 64,338
c Gross profit or (loss) (attach schedule)..... 128,895 128,895
11 Other income (attach schedule)....... Click to see attachment 46,133 0 46,133
12 Total. Add lines 1 through 11........ 2,551,455 93,401 419,064
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0 0 0
14 Other employee salaries and wages...... 609,929 0 195,537 414,392
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 8,581 0 420 8,162
b Accounting fees (attach schedule)....... Click to see attachment 110,681 0 69,473 41,208
c Other professional fees (attach schedule).... Click to see attachment 159,825 0 14,925 144,900
17 Interest............... 9,498 0 0 9,498
18 Taxes (attach schedule) (see instructions)... Click to see attachment 140,432 0 1,915 138,517
19 Depreciation (attach schedule) and depletion... Click to see attachment 1,355,369 0 0
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 673,744 0 214,352 459,393
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 3,068,059 0 496,622 1,216,070
25 Contributions, gifts, grants paid....... 247,789 247,789
26 Total expenses and disbursements. Add lines 24 and 25 3,315,848 0 496,622 1,463,859
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -764,393
b Net investment income (if negative, enter -0-) 93,401
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2020)
Form 990-PF (2020)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 1,742,179 395,044 395,044
2 Savings and temporary cash investments.........      
3 Accounts receivable bullet329,231
Less: allowance for doubtful accounts bullet   475,224 329,231 329,231
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use.............. 21,202 26,678 26,678
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet1,560,057
Less: accumulated depreciation (attach schedule) bullet1,123,630 414,416 Click to see attachment436,427 1,703,015
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet5,182,410
Less: accumulated depreciation (attach schedule) bullet736,510 4,595,875 Click to see attachment4,445,900 5,877,584
15 Other assets (describe bullet) Click to see attachment3,349 Click to see attachment1,972,710 Click to see attachment1,972,710
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 7,252,245 7,605,990 10,304,262
Liabilities 17 Accounts payable and accrued expenses.......... 1,053,254 1,688,486
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment19,700 Click to see attachment468,702
23 Total liabilities (add lines 17 through 22)......... 1,072,954 2,157,188
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 6,179,291 5,448,802
29 Total net assets or fund balances (see instructions)..... 6,179,291 5,448,802
30 Total liabilities and net assets/fund balances (see instructions). 7,252,245 7,605,990
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
6,179,291
2
Enter amount from Part I, line 27a .....................
2
-764,393
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
33,904
4
Add lines 1, 2, and 3 ..........................
4
5,448,802
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
5,448,802
Form 990-PF (2020)
Form 990-PF (2020)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a JP MORGAN GLOBAL BOND OPPORTUNITIES P    
b BAIRD CORE PLUS BOND INS P    
c DODGE & COX INCOME P    
d BAIRD CORE PLUS BOND INS P    
e DODGE & COX INCOME P    
CONVECTION OVEN P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 1,740,107   1,725,448 14,659
b 1,809     1,809
c 6,292     6,292
d 3,622     3,622
e 3,721     3,721
3,969 2,275 5,292 952
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       14,659
b       1,809
c       6,292
d       3,622
e       3,721
      952
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 31,055
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3 22,760
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE
1 Reserved
(a)
Reserved 		(b)
Reserved 		(c)
Reserved 		(d)
Reserved
2
Reserved...........................
2
3
Reserved...........................
3
4
Reserved...........................
4
5
Reserved...........................
5
6
Reserved...........................
6
7
Reserved...........................
7
8
Reserved,..........................
8
Form 990-PF (2020)
Form 990-PF (2020)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Reserved................................ 1 1,298
c All other domestic foundations enter 1.39% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 1,298
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 1,298
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 6a 1,241
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 1,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 2,241
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 1
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 942
11 Enter the amount of line 10 to be: Credited to 2021 estimated taxBullet942 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletOK
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2020 or the taxable year beginning in 2020? See the instructions for Part XIV.
    If "Yes," complete Part XIV .............................
    9
    Yes
     
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletELIZABETH FRAME ELLISON Telephone no.bullet (918) 583-2955

    Located atbullet1124 SOUTH LEWIS AVENUETULSAOK ZIP+4bullet74104
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2020, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?...............
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).......
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........
    1b
     
     
    ........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2020?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
    No
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    If "Yes," did it have excess business holdings in 2020 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2020.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......
    5b
     
    No
    .........bullet
    c
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    ELIZABETH FRAME ELLISON EXECUTIVE DIRECTOR
    0.00     		0 0 0
    1124 SOUTH LEWIS AVENUE
    TULSA,OK74104
    MEREDITH PEEBLES DIRECTOR
    0.00     		0 0 0
    1124 SOUTH LEWIS AVENUE
    TULSA,OK74104
    WILLIAM E LOBECK JR MANAGER
    0.00     		0 0 0
    1124 SOUTH LEWIS AVENUE
    TULSA,OK74104
    KATHY TAYLOR SECRETARY
    0.00     		0 0 0
    1124 SOUTH LEWIS AVENUE
    TULSA,OK74104
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    MARINER WEALTH ADVISORS ACCOUNTING 111,785
    4200 E SKELLY DR STE 960
    TULSA,OK74135
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1 MOTHER ROAD MARKET WAS FORMED TO PROVIDE FOOD ENTREPRENEURS WITH THE OPPORTUNITY TO PILOT TEST THEIR LATEST CONCEPTS WITHOUT FINANCIAL INVESTMENTS OF OPENING A FULL SCALE SHOP. 1,154,438
    2 THE TULSA STARTUP SERIES WAS FORMED TO SUPPORT INNOVATION,GROWTH, & CREATIVITY AMONG TULSA'S ENTERPRENEURIAL COMMUNITY. 674
    3 KITCHEN 66 WAS FORMED TO PROVIDE FOOD ENTREPRENEURS EDUCATION, MENTORSHIP AND ACCESS TO AFFORDABLE KITCHEN SPACE AS THEY START AND SCALE THEIR BUSINESSES. 348,240
    4 THE LOBECK TAYLOR FAMILY FOUNDATION IS WORKING TO CREATE A POSITIVE CULTURAL AND ECONOMIC DEVELOPMENT IMPACT ON THE 11TH STREET CORRIDOR IN THE CITY OF TULSA, OKLAHOMA THROUGH THE TULSA MARKET DISTRICT. BY STRATEGICALLY WORKING TO ADVANCE EQUITY, PRIDE OF PLACE, PHYSICAL INFRASTRUCTURE AND ECONOMIC ACTIVITY, WE WILL DECREASE BARRIERS TO BUILDING GENERATIONAL WELATH WITHIN THE TULSA MARKET DISTRICT. 134,050
    Part IX-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    0
    b
    Average of monthly cash balances.......................
    1b
    0
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    0
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    0
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    0
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    0
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    0
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
     
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
     
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
     
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
     
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
     
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
     
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    1,463,859
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    1,463,859
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b. See instructions.................
    5
    0
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    1,463,859
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2019     		(c)
    2019     		(d)
    2020
    1 Distributable amount for 2020 from Part XI, line 7 0
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2020:
    a From 2015......  
    b From 2016......  
    c From 2017......  
    d From 2018......  
    e From 2019...... 1,517,152
    fTotal of lines 3a through e........ 1,517,152
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$  
    a Applied to 2019, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2020 distributable amount..... 0
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2020. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 1,517,152
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		1,517,152
    10 Analysis of line 9:
    a Excess from 2016....  
    b Excess from 2017....  
    c Excess from 2018....  
    d Excess from 2019.... 1,517,152
    e Excess from 2020....  
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 10
    Part XIV
    Private Operating Foundations (see instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2020, enter the date of the ruling....... bullet
    2017-05-16
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2020 (b) 2019 (c) 2018 (d) 2017
    0 0 0 5,094 5,094
    b 85% of line 2a ......... 0 0 0 4,330 4,330
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		1,463,859 1,517,152 545,004 172,403 3,698,418
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		0 0 0 0 0
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		1,463,859 1,517,152 545,004 172,403 3,698,418
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ...... 10,304,260 8,700,078 8,531,945 2,206,107 29,742,390
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		 8,601,246 7,918,633 7,757,261   24,277,140
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		        0
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		        0
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		        0
    (3) Largest amount of support
    from an exempt organization    		         0
    (4) Gross investment income         0
    Part XV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    WILLIAM E LOBECK JR
    KATHY TAYLOR
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    PILOT TESTING
    1124 S LEWIS AVE
    TULSA,OK74104
    (918) 583-2955
    INFO@LOBECKTAYLOR.ORG
    bThe form in which applications should be submitted and information and materials they should include:
    CURRENTLY, THE PROGRAM IS PUBLICIZED THROUGH THE OPERATING FOUNDATION'S NEWSLETTERS (+5000 SUBSCRIBERS) AND BY SENDING THE INFORMATION TO OUR PARTNERS (36 DEGREES NORTH ENTREPRENEUR CENTER, TULSA SMALL BUSINESS NETWORK, TULSA REGIONAL CHAMBER, LOCAL UNIVERSITIES AND TRADE SCHOOLS, TECHNICAL COLLEGES), ON EARNED MEDIA (TULSA WORLD, TULSA VOICE, TULSA PEOPLE) AND SOCIAL MEDIA (FACEBOOK, INSTAGRAM AND TWITTER). WE ALSO RELY HEAVILY ON WORD OF MOUTH TO PROMOTE OUR APPLICATION PROCESS AND THE OPPORTUNITIES AVAILABLE TO BOTH ENTREPRENEURS AND CUSTOMERS.
    cAny submission deadlines:
    THE K66 LAUNCH PROGRAM ACCEPTS APPLICATIONS TWICE EACH YEAR UNTIL CAPACITY IS REACHED.
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    FOR K66 KIOSKS, PARTICIPANTS WILL HAVE TO PAY RENT MONTHLY TO PARTICIPATE. THE RENT WILL BE REDUCED FOR THE K66 GRADUATES, BUT WILL BE GRADUALLY INCREASED TO MARKET RATE TO PREPARE THEM TO SCALE THEIR BUSINESS. FOR K66 CURRICULUM PARTICIPANTS, WE REQUIRE THAT THEY ATTEND CLASS, PARTICIPATE AND BECOME PART OF THE CULTURE AND COMMUNITY.
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 11
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    OKLAHOMA RESTAURANT ASSOCIATION
    3800 N PORTLAND AVE 101
    OKLAHOMA CITY,OK73112     		PROGRAM PARTICIPANT PC PILOT TESTING 208,200
    TULSA COMMUNITY FOUNDATION
    7030 S YALE AVE 600
    TULSA,OK74136     		PROGRAM PARTICIPANT PC GENERAL OPERATIONS 173
    THE DRAGONFLY HOME
    PO BOX 94613
    OKLAHOMA CITY,OK94613     		PROGRAM PARTICIPANT PC GENERAL OPERATIONS 5,000
    GITWIT
    301 E ARCHER ST
    TULSA,OK94120     		PROGRAM PARTICIPANT PC GENERAL OPERATIONS 33,375
    FOOD BANK OF EASTERN OK
    1304 N KENOSHA AVE
    TULSA,OK74106     		PROGRAM PARTICIPANT PC GENERAL OPERATIONS 1,041
    Total .................................bullet 3a 247,789
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 12
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    aEVENT INCOME         1,217
    bJANITOR SERVICES         33,695
    cMISCELLANEOUS INCOME         1,935
    dREIMBURSEMENT         9,286
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3 Interest on savings and temporary cash
    investments ...........     		         
    4 Dividends and interest from securities....     14 62,346  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......     16   221,276
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    26 31,055  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory         128,895
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 93,401 396,304
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    489,705
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    1. THE LT OPERATING FOUNDATION PRIMARILY ACCOMPLISHES ITS CHARITABLE PURPOSE OF POSITIVE CULTURAL, ECONOMIC AND EDUCATIONAL IMPACT THROUGH MOTHER ROAD MARKET AND KITCHEN 66. BOTH PROGRAMS ARE ALIGNED WITH THE GOALS OF IMPROVING PRIDE OF PLACE, INCREASING ECONOMIC ACTIVITY AND EQUITY, CREATING GENERATIONAL WEALTH, AND IMPROVING PHYSICAL INFRASTRUCTURE IN THE 11TH ST CORRIDIOR OF TULSA, OKLAHOMA KNOWN AS THE TULSA MARKET DISTRICT. BELOW IS A DETAILED EXPLANATION OF HOW MOTHER ROAD MARKET AND KITCHEN 66 MEET THE OPERATIONAL TEST PER REG 1.501(C)(3)-1(C). 1. PRIMARY ACTIVITIES: MOTHER ROAD MARKET AND KITCHEN 66 WILL CONDUCT ACTIVITIES THAT SOLELY FURTHER ITS TAX-EXEMPT PURPOSE. A. MOTHER ROAD MARKET AND KITCHEN 66 OFFERS THE FOLLOWING SERVICES TO THE UNDERSERVED COMMUNITY IN THE SURROUNDING AREA. I. PROGRAMS FOR FOOD ENTREPRENEURS IN NEED, OFFERING THEM WEEKLY CLASSES AND AFFORDABLE KITCHEN SPACE FOR THE ENTREPRENEURS TO LEARN IN A SAFE ENVIRONMENT. II. PROVING LOW RISK SPACE FOR NEW BUSINESS
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below?
    See instructions.
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2020)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2020
    Name of the organization
    LT OPERATING FOUNDATION
     
    Employer identification number

    82-1728733
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
    or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020) Page 2
    Name of organization
    LT OPERATING FOUNDATION
          		Employer identification number
    82-1728733
    Part I
    Contributors
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    LOBECK TAYLOR FAMILY FOUNDATION
     
    1124 SOUTH LEWIS AVE
     
    TULSA, OK74104

    		$ 1,850,236


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    2
    KATHY TAYLOR
    1144 S LEWIS AVE
     
    TULSA, OK74104

    		$ 101,500


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    3
    ONEOK FOUNDATION
     
    PO BOX 871
     
    TULSA, OK741020871

    		$ 75,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    4
    TULSA COMMUNITY FOUNDATION
     
    7030 S YALE AVENUE STE 600
     
    TULSA, OK74136

    		$ 5,500


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    5
    THE VIC AND SUSAN ALONZIA CHARITABLE FOUNDATION
     
    PO BOX 15203
     
    ALBANY, NY122125203

    		$ 25,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Page 3
    Name of organization
    LT OPERATING FOUNDATION
          		Employer identification number

    82-1728733
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Page 4
    Name of organization
    LT OPERATING FOUNDATION
          		Employer identification number

    82-1728733
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Additional Data


    Software ID:  
    Software Version:  

    TY 2020 AccountingFeesSchedule
    Name:
    LT OPERATING FOUNDATION
    EIN:
    82-1728733
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 110,681 0 69,473 41,208

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2020 DepreciationSchedule
    Name:
    LT OPERATING FOUNDATION
    EIN:
    82-1728733
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    1102 S LEWIS BUILDING 2017-08-23 46,584 2,837 SL 39.000000000000 1,194 1,194 1,194  
    1102- MRM PARKING LOT 2019-05-31 11,500 11,500 150DB 15.000000000000 0 0 0  
    1102-FLOWER SHOP DEMO 2019-07-30 6,738 6,738 150DB 15.000000000000 0 0 0  
    1102-BUILDING IMPROVEMENT 2019-11-18 50,601 50,601 150DB 15.000000000000 0 0 0  
    1102-BUILDING IMPROVEMENT 2019-12-11 51,032 51,032 150DB 15.000000000000 0 0 0  
    1102-BUILDING IMPROVEMENT 2019-12-26 58,191 58,191 150DB 15.000000000000 0 0 0  
    POS SYSTEM 2018-11-01 37,809 16,257 200DB 5.000000000000 8,621 0 7,562  
    BUILDING IMPROVEMENT 2018-11-01 6,000 173 SL 39.000000000000 154 0 154  
    ARCHITECTURAL DESIGN 2018-11-01 18,006 520 SL 39.000000000000 462 0 462  
    BULIDING SIGNS 2018-11-01 93,810 2,706 SL 39.000000000000 2,405 0 2,405  
    CONSTRUCTION 2018-11-01 3,827,796 110,432 SL 39.000000000000 98,149 0 98,149  
    SOLIDED DISH TABLE 2018-11-01 5,965 2,565 200DB 5.000000000000 1,360 0 1,193  
    CONVECTION OVEN 2018-11-01 15,750 6,773 200DB 5.000000000000 3,591 0 3,150  
    PANETARY MIXER 2018-11-01 9,818 4,222 200DB 5.000000000000 2,238 0 1,964  
    WALK IN US COOLER 2018-11-01 22,194 9,544 200DB 5.000000000000 5,060 0 4,439  
    WALK IN US COOLER 2018-11-01 16,017 6,887 200DB 5.000000000000 3,652 0 3,203  
    DISHMACHINES 2018-11-01 6,511 2,800 200DB 5.000000000000 1,484 0 1,302  
    3 SECTION SOFAS 2018-11-01 25,320 10,888 200DB 5.000000000000 5,773 0 5,064  
    ESPRESSO MACHINE 2018-11-01 5,000 2,150 200DB 5.000000000000 1,140 0 1,000  
    DUCTWORK & STAINLE 2018-11-01 53,716 1,549 SL 39.000000000000 1,377 0 1,377  
    MRM FIXTURE AND FI 2018-11-01 162,833 4,698 SL 39.000000000000 4,175 0 4,175  
    KOLD LOCKER-INDO 2018-11-01 7,273 3,128 200DB 5.000000000000 1,658 0 1,455  
    FREEZER 2018-11-01 6,441 2,770 200DB 5.000000000000 1,468 0 1,288  
    UNDERBAR GLASSWASH 2018-11-01 6,622 2,847 200DB 5.000000000000 1,510 0 1,324  
    OPEN AIR MERCHANDI 2018-11-01 5,496 2,363 200DB 5.000000000000 1,253 0 1,099  
    PRODUCE OPEN MERCH 2018-11-01 5,303 2,280 200DB 5.000000000000 1,209 0 1,061  
    RECTANGULAR TABLE 2018-11-01 372 160 200DB 5.000000000000 85 0 74  
    CONVECTION OVEN 2018-11-01 5,292 2,275 200DB 5.000000000000 603 0 88  
    TI ALLOWANCE 2018-11-01 43,666 1,260 SL 39.000000000000 1,120 0 1,120  
    PATIO ENCLOSURE 2019-09-24 39,399 39,399 150DB 15.000000000000 0 0 0  
    DOWNSPOUT IMPROVEMENT 2019-12-17 11,750 11,750 150DB 15.000000000000 0 0 0  
    ARCHITECTURAL DESIGN 2019-02-26 3,865 87 SL 39.000000000000 99 0 99  
    ARCHITECTURAL DESIGN 2019-03-08 2,040 41 SL 39.000000000000 52 0 52  
    ARCHITECTURAL DESIGN 2019-06-07 12,799 178 SL 39.000000000000 328 0 328  
    ARCHITECTURAL DESIGN 2019-08-07 6,185 60 SL 39.000000000000 159 0 159  
    ARCHITECTURAL DESIGN 2019-10-11 6,800 36 SL 39.000000000000 174 0 174  
    CONSTRUCTION 2019-06-18 7,460 104 SL 39.000000000000 191 0 191  
    ACCUREX EQUIPMENT 2019-02-25 35,202 35,202 200DB 5.000000000000 0 0 0  
    TI ALLOWANCE 2019-01-03 6,400 158 SL 5.000000000000 1,280 0 1,280  
    DEMO KITCHEN EQUIP 2019-03-04 2,285 2,285 200DB 5.000000000000 0 0 0  
    TI ALLOWANCE 2019-01-18 6,400 158 SL 39.000000000000 164 0 164  
    TI ALLOWANCE 2019-09-13 733 5 SL 39.000000000000 19 0 19  
    M66- PATIO CHAIRS 2019-05-28 8,843 8,843 200DB 7.000000000000 0 0 0  
    M66-SECURITY CAM 2019-10-31 20,217 20,217 200DB 7.000000000000 0 0 0  
    K66- LAPTOP 2015-10-07 939 798 SL 5.000000000000 141 0 141  
    K66-ECOLAB SINK 2016-01-13 690 276 SL 10.000000000000 69 0 69  
    K66- 3 WORKTABLES 2016-01-07 193 77 SL 10.000000000000 19 0 19  
    K66- BAKERS OVENS 2016-02-26 5,797 2,271 SL 10.000000000000 580 0 580  
    K66- GAS BROILER 2016-02-26 1,088 426 SL 10.000000000000 109 0 109  
    K66-RANGE OVEN 2016-02-26 2,003 784 SL 10.000000000000 200 0 200  
    K66-ECOLAB TABLE 2016-02-19 1,351 529 SL 10.000000000000 135 0 135  
    K66-DISPLA CASE 2016-04-01 2,681 1,006 SL 10.000000000000 268 0 268  
    K66-GAS OVEN 2016-04-12 5,250 1,969 SL 10.000000000000 525 0 525  
    K66-4 LOVE SEATS 2016-04-01 1,510 809 SL 7.000000000000 216 0 216  
    K66-2 CLUB CHAIR 2016-04-01 366 196 SL 7.000000000000 52 0 52  
    K66-2 SOFAS 2016-05-02 1,500 785 SL 7.000000000000 214 0 214  
    K66-2 ARM CHAIRS 2016-05-02 500 261 SL 7.000000000000 71 0 71  
    K66-DELI CASE 2016-06-06 3,075 1,102 SL 10.000000000000 308 0 308  
    K66-BUTCHER BLOC 2016-09-01 800 267 SL 10.000000000000 80 0 80  
    K66-DELI CASE 48 2016-11-08 1,628 516 SL 10.000000000000 163 0 163  
    K66-BOOTH DISPLAY 2017-08-01 5,773 1,993 SL 7.000000000000 825 0 825  
    K66-EZ UP TENT 2017-08-01 1,164 563 SL 5.000000000000 233 0 233  
    K66-COMPUTER EQU 2018-01-01 1,350 1,350 200DB 5.000000000000 0 0 0  
    K66-APPLE COMP 2019-02-28 1,651 1,651 200DB 5.000000000000 0 0 0  
    1124-BUILDING IMRPOVEMENT 2020-12-30 215,889   150DB 15.000000000000 215,889 0 0  
    1124-DISH MACHINE 2020-01-06 1,275   200DB 7.000000000000 1,275 0 182  
    1124-TENANT IMPROVEMENT 2020-12-09 3,880   150DB 15.000000000000 3,880 0 22  
    1102-BUILDING IMPROVEMENT 2020-12-30 905,040   150DB 15.000000000000 905,040 0 0  
    M66-CAMERA INSTALLATION 2020-01-14 10,000   200DB 7.000000000000 10,000 0 1,429  
    M66-INDOOR AND OUTDOOR DOMES 2020-05-20 17,327   SL 7.000000000000 17,327 0 1,444  
    M66-POS SYSTEM 2020-06-22 777   200DB 5.000000000000 777 0 78  
    MRM BUILDING SIGNS 2020-07-17 40,803   150DB 20.000000000000 40,803 0 850  
    1102 S LEWIS BUILDING 2020-01-01 269   SL 39.000000000000 7 7 7  
    1102-LAND 2019-12-31 60,200   NC 0 % 0 0 0  
    1124-LAND 2019-12-31 542,834   NC 0 % 0 0 0  
    1102-BUILDING IMPROVEMENT 2019-12-31 50   150DB 15.000000000000 5 3 3  
    ARCHITECTURAL DESIGN 2019-12-31 61,927   SL 39.000000000000 1,588 0 1,588  
    FURNITURE AND EQUIPMENT 2019-12-31 53,715   SL 27.500000000000 1,953 0 1,953  
    CONSTRUCTION 2019-12-31 11,978   SL 39.000000000000 307 0 307  
    CONVECTION OVEN 2018-11-01 451 194 200DB 5.000000000000 103 0 90  

    TY 2020 InvestmentsLandSchedule2
    Name:
    LT OPERATING FOUNDATION
    EIN:
    82-1728733
    Category/ Item Cost/Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    1102 S LEWIS BUILDING 46,584 4,031 42,553  
    1102- MRM PARKING LOT 11,500 11,500 0  
    1102-FLOWER SHOP DEMO 6,738 6,738 0  
    1102-BUILDING IMPROVEMENT 50,601 50,601 0  
    1102-BUILDING IMPROVEMENT 51,032 51,032 0  
    1102-BUILDING IMPROVEMENT 58,191 58,191 0  
    1102-BUILDING IMPROVEMENT 905,040 905,040 0  
    1102 S LEWIS BUILDING 269 7 262  
    1102-LAND 60,200 0 60,200  
    1124-LAND 542,834 0 542,834  
    1102-BUILDING IMPROVEMENT 50 5 45  

    TY 2020 LandEtcSchedule2
    Name:
    LT OPERATING FOUNDATION
    EIN:
    82-1728733
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    POS SYSTEM 37,809 24,878 12,931  
    BUILDING IMPROVEMENT 6,000 327 5,673  
    ARCHITECTURAL DESIGN 18,006 982 17,024  
    BULIDING SIGNS 93,810 5,111 88,699  
    CONSTRUCTION 3,827,796 208,581 3,619,215  
    SOLIDED DISH TABLE 5,965 3,925 2,040  
    CONVECTION OVEN 15,750 10,364 5,386  
    PANETARY MIXER 9,818 6,460 3,358  
    WALK IN US COOLER 22,194 14,604 7,590  
    WALK IN US COOLER 16,017 10,539 5,478  
    DISHMACHINES 6,511 4,284 2,227  
    3 SECTION SOFAS 25,320 16,661 8,659  
    ESPRESSO MACHINE 5,000 3,290 1,710  
    DUCTWORK & STAINLE 53,716 2,926 50,790  
    MRM FIXTURE AND FI 162,833 8,873 153,960  
    KOLD LOCKER-INDO 7,273 4,786 2,487  
    FREEZER 6,441 4,238 2,203  
    UNDERBAR GLASSWASH 6,622 4,357 2,265  
    OPEN AIR MERCHANDI 5,496 3,616 1,880  
    PRODUCE OPEN MERCH 5,303 3,489 1,814  
    RECTANGULAR TABLE 372 245 127  
    TI ALLOWANCE 43,666 2,380 41,286  
    PATIO ENCLOSURE 39,399 39,399 0  
    DOWNSPOUT IMPROVEMENT 11,750 11,750 0  
    ARCHITECTURAL DESIGN 3,865 186 3,679  
    ARCHITECTURAL DESIGN 2,040 93 1,947  
    ARCHITECTURAL DESIGN 12,799 506 12,293  
    ARCHITECTURAL DESIGN 6,185 219 5,966  
    ARCHITECTURAL DESIGN 6,800 210 6,590  
    CONSTRUCTION 7,460 295 7,165  
    ACCUREX EQUIPMENT 35,202 35,202 0  
    TI ALLOWANCE 6,400 1,438 4,962  
    DEMO KITCHEN EQUIP 2,285 2,285 0  
    TI ALLOWANCE 6,400 322 6,078  
    TI ALLOWANCE 733 24 709  
    M66- PATIO CHAIRS 8,843 8,843 0  
    M66-SECURITY CAM 20,217 20,217 0  
    K66- LAPTOP 939 939 0  
    K66-ECOLAB SINK 690 345 345  
    K66- 3 WORKTABLES 193 96 97  
    K66- BAKERS OVENS 5,797 2,851 2,946  
    K66- GAS BROILER 1,088 535 553  
    K66-RANGE OVEN 2,003 984 1,019  
    K66-ECOLAB TABLE 1,351 664 687  
    K66-DISPLA CASE 2,681 1,274 1,407  
    K66-GAS OVEN 5,250 2,494 2,756  
    K66-4 LOVE SEATS 1,510 1,025 485  
    K66-2 CLUB CHAIR 366 248 118  
    K66-2 SOFAS 1,500 999 501  
    K66-2 ARM CHAIRS 500 332 168  
    K66-DELI CASE 3,075 1,410 1,665  
    K66-BUTCHER BLOC 800 347 453  
    K66-DELI CASE 48 1,628 679 949  
    K66-BOOTH DISPLAY 5,773 2,818 2,955  
    K66-EZ UP TENT 1,164 796 368  
    K66-COMPUTER EQU 1,350 1,350 0  
    K66-APPLE COMP 1,651 1,651 0  
    1124-BUILDING IMRPOVEMENT 215,889 215,889 0  
    1124-DISH MACHINE 1,275 1,275 0  
    1124-TENANT IMPROVEMENT 3,880 3,880 0  
    M66-CAMERA INSTALLATION 10,000 10,000 0  
    M66-INDOOR AND OUTDOOR DOMES 17,327 17,327 0  
    M66-POS SYSTEM 777 777 0  
    MRM BUILDING SIGNS 40,803 40,803 0  
    ARCHITECTURAL DESIGN 61,927 1,588 60,339  
    FURNITURE AND EQUIPMENT 53,715 1,953 51,762  
    CONSTRUCTION 11,978 307 11,671  
    CONVECTION OVEN 451 297 154  


    TY 2020 LegalFeesSchedule
    Name:
    LT OPERATING FOUNDATION
    EIN:
    82-1728733
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 8,581 0 420 8,162


    TY 2020 OtherAssetsSchedule
    Name:
    LT OPERATING FOUNDATION
    EIN:
    82-1728733
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    SECURITY DEPOSIT 3,349 3,679 3,679
    CHARLES SCHWAB INVESTMENT 0 1,535,328 1,535,328
    NOTES RECEIVABLE-CITY OF TULSA 0 433,703 433,703


    TY 2020 OtherExpensesSchedule
    Name:
    LT OPERATING FOUNDATION
    EIN:
    82-1728733
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OFFICE SUPPLIES 1,755 0 0 1,755
    INSURANCE EXPENSES 48,769 0 41,238 7,531
    ADVERTISING EXPENSE/MARKETING 125,829 0 39,156 86,674
    START-UP SERIES 674 0 0 674
    PERMIT/INSPECTION FEES 8,720 0 3,499 5,221
    UTILITIES EXPENSE 114,235 0 22,375 91,860
    BACKGROUND CHECKS 1,494 0 0 1,494
    BANK CHARGES 1,405 0 1,177 228
    TELEPHONE 13,566 0 510 13,056
    SECURITY -2,626 0 950 -3,576
    DIRECT OPERATING EXPENSES 2,146 0 733 1,413
    EQUIPMENT RENTAL 3,660 0 0 3,660
    FACILITY EXPENSES 540 0 0 540
    JANITORIAL EXPENSES 48,710 0 418 48,292
    MISCELLANEOUS EXPENSES 578 0 105 473
    FURNITURE & FIXTURES 12,097 0 0 12,097
    MEALS AND ENTERTAINMENT 1,703 0 1,124 579
    POS SYSTEM 13,493 0 4,914 8,579
    PRINTING 1,300 0 0 1,300
    REPAIRS AND MAINTENANCE 64,947 0 5,348 59,599
    PEST CONTROL 3,625 0 0 3,625
    SUBSCRIPTIONS 1,494 0 0 1,494
    SUPPLIES 105,534 0 30,377 75,157
    CREDIT CARD PROCESSING FEES 19,929 0 61,047 -41,118
    OFFICE EXPENSES 663 0 0 663
    FOOD SPOILAGE 1,321 0 1,321 0
    LANDSCAPING 8,742 0 0 8,742
    RENT 14,846 0 0 14,846
    VENT & GREASE TRAP CLEANING 7,723 0 -40 7,763
    EMPLOYEE BENEFITS 41,418 0 100 41,318
    SCHEDULING SYSTEM 751 0 0 751
    BAD DEBTS 431 0 0 431
    STRATEGIC EXPENSES 4,272 0 0 4,272


    TY 2020 OtherIncomeSchedule2
    Name:
    LT OPERATING FOUNDATION
    EIN:
    82-1728733
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    EVENT INCOME 1,217   1,217
    JANITOR SERVICES 33,695   33,695
    MISCELLANEOUS INCOME 1,935   1,935
    REIMBURSEMENT 9,286   9,286


    TY 2020 OtherIncreasesSchedule
    Name:
    LT OPERATING FOUNDATION
    EIN:
    82-1728733
    Description Amount
    PRIOR PERIOD ADJUSTMENT 33,904


    TY 2020 OtherLiabilitiesSchedule
    Name:
    LT OPERATING FOUNDATION
    EIN:
    82-1728733
    Description Beginning of Year - Book Value End of Year - Book Value
    RENTAL DEPOSITS-MARKET 66 LLC 19,700 25,500
    NOTES PAYABLE-LTFF 0 443,202


    TY 2020 OtherProfessionalFeesSchedule
    Name:
    LT OPERATING FOUNDATION
    EIN:
    82-1728733
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PROFESSIONAL FEES 159,825 0 14,925 144,900


    TY 2020 TaxesSchedule
    Name:
    LT OPERATING FOUNDATION
    EIN:
    82-1728733
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EMPLOYER TAXES 56,169 0 0 56,169
    INCOME TAXES 5,466 0 1,915 3,551
    PROPERTY TAXES 78,797 0 0 78,797