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. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021
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$12,804,126J 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) 910,613
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 42,734 42,734  
5a Gross rents............ 408,820   408,820
b Net rental income or (loss) -75,522
6a Net gain or (loss) from sale of assets not on line 10 15,989
b Gross sales price for all assets on line 6a 1,080,930
7 Capital gain net income (from Part IV, line 2)... 15,989
8 Net short-term capital gain......... 0
9 Income modifications...........  
10a Gross sales less returns and allowances 404,621
b Less: Cost of goods sold.... 152,269
c Gross profit or (loss) (attach schedule)..... 252,352 252,352
11 Other income (attach schedule)....... Click to see attachment 277,721 0 277,721
12 Total. Add lines 1 through 11........ 1,908,229 58,723 938,893
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0 0 0
14 Other employee salaries and wages...... 751,359 0 399,839 351,519
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 4,869 0 0 4,869
b Accounting fees (attach schedule)....... Click to see attachment 119,731 10,150 16,576 93,005
c Other professional fees (attach schedule).... Click to see attachment 242,795 0 29,299 213,496
17 Interest............... 14,830 0 0 14,830
18 Taxes (attach schedule) (see instructions)... Click to see attachment 163,371 299 82,379 80,693
19 Depreciation (attach schedule) and depletion... Click to see attachment 150,636 0 0
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 871,483 0 245,783 625,699
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 2,319,074 10,449 773,876 1,384,111
25 Contributions, gifts, grants paid....... 3,674 3,674
26 Total expenses and disbursements. Add lines 24 and 25 2,322,748 10,449 773,876 1,387,785
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -414,519
b Net investment income (if negative, enter -0-) 48,274
c Adjusted net income (if negative, enter -0-)... 165,017
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2021)
Form 990-PF (2021)
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............. 395,044 846,088 846,088
2 Savings and temporary cash investments.........      
3 Accounts receivable bullet496,268
Less: allowance for doubtful accounts bullet   329,231 496,268 496,268
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.............. 26,678 26,818 26,818
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 bullet1,576,136
Less: accumulated depreciation (attach schedule) bullet1,128,845 436,427 Click to see attachment447,291 1,719,094
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis bullet5,268,333
Less: accumulated depreciation (attach schedule) bullet890,774 4,445,900 Click to see attachment4,377,559 6,166,674
15 Other assets (describe bullet) Click to see attachment1,972,710 Click to see attachment3,524,470 Click to see attachment3,549,184
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 7,605,990 9,718,494 12,804,126
Liabilities 17 Accounts payable and accrued expenses.......... 1,688,486 2,767,889
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 attachment468,702 Click to see attachment1,925,183
23 Total liabilities (add lines 17 through 22)......... 2,157,188 4,693,072
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 5,448,802 5,025,422
29 Total net assets or fund balances (see instructions)..... 5,448,802 5,025,422
30 Total liabilities and net assets/fund balances (see instructions). 7,605,990 9,718,494
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
5,448,802
2
Enter amount from Part I, line 27a .....................
2
-414,519
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
5,034,283
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
8,861
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
5,025,422
Form 990-PF (2021)
Form 990-PF (2021)
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 BAIRD CORE PLUS BOND INST:BCOIX P 2020-11-04 2021-12-31
b DIAMOND HILL SHORT DUR SECURITIZED BD I: DHEIX P 2020-11-04 2021-12-31
c DODGE & COX INCOME: DODIX P 2020-11-04 2021-12-31
d INVESCO TAXABLE ETF: BAB P 2020-11-04 2021-12-31
e PIONEER STRATEGIC INCOME Y: STRYX P 2020-11-04 2021-06-09
VANGUARD INFLATION-PROTECTED SECS ADM: VAIPX P 2020-11-04 2021-12-31
SOUTHERNSUN SMALL CAP I P    
DODGE &COX INCOME P    
POLEN GROWTH INSTITUTION P    
JOHCM INTERNATIONAL SELE P    
PIONEER STRATEGIC INCOME P    
SOUTHERNSUN SMALL CAP I P    
BAIRD CORE PLUS BOND INST:BCOIX P    
DIAMOND HILL SHORT DUR SECURITIZED BD I: DHEIX P    
DODGE & COX INCOME: DODIX P    
POLEN GROWTH INSTITUTION P    
JOHCM INTERNATIONAL SELE P    
JACKSON SQUARE SMID-CAP P    
PIONEER STRATEGIC INCOME P    
VANGUARD INFLATION-PROTECTED SECS ADM: VAIPX 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 423,480   433,831 -10,351
b 48,460   47,667 793
c 344,450   354,199 -9,749
d 99,760   99,698 62
e 29,360   28,357 1,003
101,492   100,010 1,482
490   403 87
1,966     1,966
698   490 208
634   286 348
1,278     1,278
5,045     5,045
864     864
12     12
1,838     1,838
4,958     4,958
6,082     6,082
8,846     8,846
1,216     1,216
1     1
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       -10,351
b       793
c       -9,749
d       62
e       1,003
      1,482
      87
      1,966
      208
      348
      1,278
      5,045
      864
      12
      1,838
      4,958
      6,082
      8,846
      1,216
      1
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 15,989
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 -12,873
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
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 All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) 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........................... 3 671
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- ..... 5 671
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 2,019
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 200
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 2,219
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
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 1,548
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet1,548 RefundedBullet 11 0
Part VI-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 XIV..................................
    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 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    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 (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-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 ofbulletSTEPHEN LAWRENCE FAULKNER 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 2021, 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 VI-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? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
     
    No
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
     
    No
    (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)? ......................
    1a(5)
     
    No
    (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.) ...............
    1a(6)
     
    No
    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
     
     
    c
    ........bullet
    d
    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 2021? .............
    1d
     
    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 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    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
     
     
    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? ..............................
    3a
     
    No
    b
    If "Yes," did it have excess business holdings in 2021 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 2021.) .....................
    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 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-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))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
     
    No
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    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
     
     
    c
    .........bullet
    d
    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? .................
    5d
     
     
    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? .............................
    6a
     
    No
    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?
    7a
     
    No
    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? .........................
    8
     
    No
    Part VII
    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
    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 (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    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 108,852
    4200 E SKELLY DR STE 950
    TULSA,OK74135
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part VIII-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. 822,660
    2 THE TULSA STARTUP SERIES WAS FORMED TO SUPPORT INNOVATION,GROWTH, & CREATIVITY AMONG TULSA'S ENTERPRENEURIAL COMMUNITY. 1,598
    3 KITCHEN 66 WAS FORMED TO PROVIDE FOOD ENTREPRENEURS EDUCATION, MENTORSHIP AND ACCESS TO AFFORDABLE KITCHEN SPACE AS THEY START AND SCALE THEIR BUSINESSES. 430,130
    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 WEALTH WITHIN THE TULSA MARKET DISTRICT. 133,398
    Part VIII-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 (2021)
    Form 990-PF (2021)
    Page 8
    Part IX
    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 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    0
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    0
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    0
    Part X
    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 IX, line 6..................
    1
     
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
     
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    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 XII, line 1 ...
    7
     
    Part XI
    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
     
    b
    Program-related investments—total from Part VIII-B..................
    1b
     
    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 XII, line 4.
    4
     
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 9
    Part XII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2020     		(c)
    2020     		(d)
    2021
    1 Distributable amount for 2021 from Part X, line 7 0
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2021:
    a From 2016......  
    b From 2017......  
    c From 2018......  
    d From 2019...... 1,517,152
    e From 2020......  
    f Total of lines 3a through e ........ 1,517,152
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$  
    a Applied to 2020, 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 2021 distributable amount..... 0
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2021. 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 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		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 2016 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		1,517,152
    10 Analysis of line 9:
    a Excess from 2017....  
    b Excess from 2018....  
    c Excess from 2019.... 1,517,152
    d Excess from 2020....  
    e Excess from 2021....  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-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 2021, 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) 2021 (b) 2020 (c) 2019 (d) 2018
    0 0 0 0 0
    b 85% (0.85) of line 2a ......... 0 0 0 0 0
    c Qualifying distributions from Part XI,
    line 4 for each year listed .....     		1,387,785 1,463,859 1,517,152 545,004 4,913,800
    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 ....     		1,387,785 1,463,859 1,517,152 545,004 4,913,800
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ...... 12,804,127 10,304,260 8,700,078 8,531,945 40,340,410
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		 11,085,033 8,601,246 7,918,633 7,757,261 35,362,173
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part IX, 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 XIV
    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 (2021)
    Form 990-PF (2021)
    Page 11
    Part XIV
    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
    TULSA COMMUNITY FOUNDATION
    7030 S YALE AVE 600
    TULSA,OK74136     		PROGRAM PARTICIPANT PC GENERAL OPERATIONS 3,674
    Total .................................bullet 3a 3,674
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-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
    a
    b
    c
    d
    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 ....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......     16   408,820
    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 15,989  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory         252,352
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 0 58,723 938,893
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    997,616
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-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 XV-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 OFFER 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. PROVIDING LOW RISK SPACE FOR NEW BUSINES
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    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 (2021)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990)
    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
    2021
    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) (2021)
    Schedule B (Form 990) (2021) 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

    		$ 910,613


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

    		$  


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

    		$  


    (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) (2021)
    Schedule B (Form 990) (2021)
    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) (2021)
    Schedule B (Form 990) (2021)
    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) (2021)
    Additional Data


    Software ID:  
    Software Version:  

    TY 2021 AccountingFeesSchedule
    Name:
    LT OPERATING FOUNDATION
    EIN:
    82-1728733
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 119,731 10,150 16,576 93,005

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

    TY 2021 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 4,031 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 24,878 200DB 5.000000000000 5,172 0 7,562  
    BUILDING IMPROVEMENT 2018-11-01 6,000 327 SL 39.000000000000 154 0 154  
    ARCHITECTURAL DESIGN 2018-11-01 18,006 982 SL 39.000000000000 462 0 462  
    BULIDING SIGNS 2018-11-01 93,810 5,111 SL 39.000000000000 2,405 0 2,405  
    CONSTRUCTION 2018-11-01 3,827,796 208,581 SL 39.000000000000 98,149 0 98,149  
    SOLIDED DISH TABLE 2018-11-01 5,965 3,925 200DB 5.000000000000 816 0 1,193  
    CONVECTION OVEN 2018-11-01 15,750 10,364 200DB 5.000000000000 2,154 0 3,150  
    PANETARY MIXER 2018-11-01 9,818 6,460 200DB 5.000000000000 1,343 0 1,964  
    WALK IN US COOLER 2018-11-01 22,194 14,604 200DB 5.000000000000 3,036 0 4,439  
    WALK IN US COOLER 2018-11-01 16,017 10,539 200DB 5.000000000000 2,191 0 3,203  
    DISHMACHINES 2018-11-01 6,511 4,284 200DB 5.000000000000 891 0 1,302  
    3 SECTION SOFAS 2018-11-01 25,320 16,661 200DB 5.000000000000 3,464 0 5,064  
    ESPRESSO MACHINE 2018-11-01 5,000 3,290 200DB 5.000000000000 684 0 1,000  
    DUCTWORK & STAINLE 2018-11-01 53,716 2,926 SL 39.000000000000 1,377 0 1,377  
    MRM FIXTURE AND FI 2018-11-01 162,833 8,873 SL 39.000000000000 4,175 0 4,175  
    KOLD LOCKER-INDO 2018-11-01 7,273 4,786 200DB 5.000000000000 995 0 1,455  
    FREEZER 2018-11-01 6,441 4,238 200DB 5.000000000000 881 0 1,288  
    UNDERBAR GLASSWASH 2018-11-01 6,622 4,357 200DB 5.000000000000 906 0 1,324  
    OPEN AIR MERCHANDI 2018-11-01 5,496 3,616 200DB 5.000000000000 752 0 1,099  
    PRODUCE OPEN MERCH 2018-11-01 5,303 3,489 200DB 5.000000000000 726 0 1,061  
    RECTANGULAR TABLE 2018-11-01 372 245 200DB 5.000000000000 51 0 74  
    TI ALLOWANCE 2018-11-01 43,666 2,380 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 3,865 186 SL 39.000000000000 99 0 99  
    ARCHITECTURAL DESIGN 2019-03-08 2,040 93 SL 39.000000000000 52 0 52  
    ARCHITECTURAL DESIGN 2019-06-07 12,799 506 SL 39.000000000000 328 0 328  
    ARCHITECTURAL DESIGN 2019-08-07 6,185 219 SL 39.000000000000 159 0 159  
    ARCHITECTURAL DESIGN 2019-10-11 6,800 210 SL 39.000000000000 174 0 174  
    CONSTRUCTION 2019-06-18 7,460 295 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 1,438 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 6,400 322 SL 39.000000000000 164 0 164  
    TI ALLOWANCE 2019-09-13 733 24 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 2015-10-07 939 939 SL 5.000000000000 0 0 0  
    K66-ECOLAB SINK 2016-01-13 690 345 SL 10.000000000000 69 0 69  
    K66- 3 WORKTABLES 2016-01-07 193 96 SL 10.000000000000 19 0 19  
    K66- BAKERS OVENS 2016-02-26 5,797 2,851 SL 10.000000000000 580 0 580  
    K66- GAS BROILER 2016-02-26 1,088 535 SL 10.000000000000 109 0 109  
    K66-RANGE OVEN 2016-02-26 2,003 984 SL 10.000000000000 200 0 200  
    K66-ECOLAB TABLE 2016-02-19 1,351 664 SL 10.000000000000 135 0 135  
    K66-DISPLA CASE 2016-04-01 2,681 1,274 SL 10.000000000000 268 0 268  
    K66-GAS OVEN 2016-04-12 5,250 2,494 SL 10.000000000000 525 0 525  
    K66-4 LOVE SEATS 2016-04-01 1,510 1,025 SL 7.000000000000 216 0 216  
    K66-2 CLUB CHAIR 2016-04-01 366 248 SL 7.000000000000 52 0 52  
    K66-2 SOFAS 2016-05-02 1,500 999 SL 7.000000000000 214 0 214  
    K66-2 ARM CHAIRS 2016-05-02 500 332 SL 7.000000000000 71 0 71  
    K66-DELI CASE 2016-06-06 3,075 1,410 SL 10.000000000000 308 0 308  
    K66-BUTCHER BLOC 2016-09-01 800 347 SL 10.000000000000 80 0 80  
    K66-DELI CASE 48 2016-11-08 1,628 679 SL 10.000000000000 163 0 163  
    K66-BOOTH DISPLAY 2017-08-01 5,773 2,818 SL 7.000000000000 825 0 825  
    K66-EZ UP TENT 2017-08-01 1,164 796 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 0 0 14,393  
    1124-DISH MACHINE 2020-01-06 1,275   200DB 7.000000000000 0 0 182  
    1124-TENANT IMPROVEMENT 2020-12-09 3,880   150DB 15.000000000000 0 0 259  
    1102-BUILDING IMPROVEMENT 2020-12-30 905,040   150DB 15.000000000000 0 60,336 60,336  
    M66-CAMERA INSTALLATION 2020-01-14 10,000   200DB 7.000000000000 0 0 1,429  
    M66-INDOOR AND OUTDOOR DOMES 2020-05-20 17,327   SL 7.000000000000 0 0 2,475  
    M66-POS SYSTEM 2020-06-22 777   200DB 5.000000000000 0 0 155  
    MRM BUILDING SIGNS 2020-07-17 40,803   150DB 20.000000000000 0 0 2,040  
    1102 S LEWIS BUILDING 2020-01-01 269 7 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 5 150DB 15.000000000000 5 3 3  
    ARCHITECTURAL DESIGN 2019-12-31 61,927 1,588 SL 39.000000000000 1,588 0 1,588  
    FURNITURE AND EQUIPMENT 2019-12-31 53,715 1,953 SL 27.500000000000 1,953 0 1,953  
    CONSTRUCTION 2019-12-31 11,978 307 SL 39.000000000000 307 0 307  
    CONVECTION OVEN 2018-11-01 451 297 200DB 5.000000000000 62 0 90  
    1124 -MRM SIGN 2021-10-03 2,181   200DB 7.000000000000 312 0 78  
    1102-BUILDING IMPROVEMENT MURAL SUPPLIES 2021-09-20 4,859   150DB 15.000000000000 243 81 81  
    1102-BUILDING IMPROVEMENT MRM MURAL 2021-11-13 4,266   150DB 15.000000000000 213 47 47  
    1124-CURDS AND WHEY DECALS 2021-05-28 315   150DB 15.000000000000 16 0 12  
    1124-INFO BOOTH 2021-07-01 2,300   150DB 15.000000000000 115 0 77  
    1124-POINT OF SALE ELECTRIC WORK 2021-07-12 642   150DB 15.000000000000 32 0 21  
    1124-OUTDOOR FREEZER 2021-08-17 36,328   150DB 15.000000000000 1,816 0 807  
    1124-KITCHEN 66 REMODEL 2021-08-19 1,512   150DB 15.000000000000 76 0 34  
    1124-HANING PENDANT LIGHTS 2021-09-21 163   150DB 15.000000000000 8 0 3  
    1124-REMODEL OF FRONT COUNTER 2021-09-28 5,200   150DB 15.000000000000 260 0 87  
    1124-ELECTRIC WORK 2021-10-04 1,075   150DB 15.000000000000 54 0 18  
    1124-SIGNS DECALS 2021-11-05 365   150DB 15.000000000000 18 0 4  
    1124-RESTAURANT EQUIPMENT & SUPPLY 2021-04-15 5,585   200DB 7.000000000000 798 0 598  
    1124-EQUIPMENT STAND,GAS FLOOR FRYER, GRIDDLE, GAS, ETC 2021-08-04 13,580   200DB 7.000000000000 1,940 0 808  
    1124-TENANT IMPROVEMENT-UNDER SHELF LIGHTS 2021-04-15 725   150DB 15.000000000000 36 0 36  
    1124-TENANT IMPROVEMENT-SHELVING AT BAR 2021-04-15 3,460   150DB 15.000000000000 173 0 173  
    1124-TENANT IMPROVEMENT-HEAT LAMP &SANDWICH GRILL 2021-04-15 784   150DB 15.000000000000 39 0 39  
    1124-TENANT IMPROVEMENT-GAS LINES, SNEEZE GUARDS,COVE BASE 2021-04-22 1,250   150DB 15.000000000000 63 0 56  
    1124-TENANT IMPROVEMENT-CURDS &WHEY 2021-04-30 1,250   150DB 15.000000000000 63 0 56  
    1124-TENANT IMPROVEMENT-CURDS &WHEY 2021-04-30 775   150DB 15.000000000000 39 0 34  
    1124 - ELITE SYSTEM 2021-02-25 2,228   150DB 15.000000000000 111 0 124  
    1124-CABINETS 2021-04-26 13,160   150DB 15.000000000000 658 0 585  

    TY 2021 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 5,225 41,359  
    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 14 255  
    1102-LAND 60,200 0 60,200  
    1124-LAND 542,834 0 542,834  
    1102-BUILDING IMPROVEMENT 50 10 40  
    1102-BUILDING IMPROVEMENT MURAL SUPPLIES 4,859 243 4,616  
    1102-BUILDING IMPROVEMENT MRM MURAL 4,266 213 4,053  

    TY 2021 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 30,050 7,759  
    BUILDING IMPROVEMENT 6,000 481 5,519  
    ARCHITECTURAL DESIGN 18,006 1,444 16,562  
    BULIDING SIGNS 93,810 7,516 86,294  
    CONSTRUCTION 3,827,796 306,730 3,521,066  
    SOLIDED DISH TABLE 5,965 4,741 1,224  
    CONVECTION OVEN 15,750 12,518 3,232  
    PANETARY MIXER 9,818 7,803 2,015  
    WALK IN US COOLER 22,194 17,640 4,554  
    WALK IN US COOLER 16,017 12,730 3,287  
    DISHMACHINES 6,511 5,175 1,336  
    3 SECTION SOFAS 25,320 20,125 5,195  
    ESPRESSO MACHINE 5,000 3,974 1,026  
    DUCTWORK & STAINLE 53,716 4,303 49,413  
    MRM FIXTURE AND FI 162,833 13,048 149,785  
    KOLD LOCKER-INDO 7,273 5,781 1,492  
    FREEZER 6,441 5,119 1,322  
    UNDERBAR GLASSWASH 6,622 5,263 1,359  
    OPEN AIR MERCHANDI 5,496 4,368 1,128  
    PRODUCE OPEN MERCH 5,303 4,215 1,088  
    RECTANGULAR TABLE 372 296 76  
    TI ALLOWANCE 43,666 3,500 40,166  
    PATIO ENCLOSURE 39,399 39,399 0  
    DOWNSPOUT IMPROVEMENT 11,750 11,750 0  
    ARCHITECTURAL DESIGN 3,865 285 3,580  
    ARCHITECTURAL DESIGN 2,040 145 1,895  
    ARCHITECTURAL DESIGN 12,799 834 11,965  
    ARCHITECTURAL DESIGN 6,185 378 5,807  
    ARCHITECTURAL DESIGN 6,800 384 6,416  
    CONSTRUCTION 7,460 486 6,974  
    ACCUREX EQUIPMENT 35,202 35,202 0  
    TI ALLOWANCE 6,400 2,718 3,682  
    DEMO KITCHEN EQUIP 2,285 2,285 0  
    TI ALLOWANCE 6,400 486 5,914  
    TI ALLOWANCE 733 43 690  
    M66- PATIO CHAIRS 8,843 8,843 0  
    M66-SECURITY CAM 20,217 20,217 0  
    K66- LAPTOP 939 939 0  
    K66-ECOLAB SINK 690 414 276  
    K66- 3 WORKTABLES 193 115 78  
    K66- BAKERS OVENS 5,797 3,431 2,366  
    K66- GAS BROILER 1,088 644 444  
    K66-RANGE OVEN 2,003 1,184 819  
    K66-ECOLAB TABLE 1,351 799 552  
    K66-DISPLA CASE 2,681 1,542 1,139  
    K66-GAS OVEN 5,250 3,019 2,231  
    K66-4 LOVE SEATS 1,510 1,241 269  
    K66-2 CLUB CHAIR 366 300 66  
    K66-2 SOFAS 1,500 1,213 287  
    K66-2 ARM CHAIRS 500 403 97  
    K66-DELI CASE 3,075 1,718 1,357  
    K66-BUTCHER BLOC 800 427 373  
    K66-DELI CASE 48 1,628 842 786  
    K66-BOOTH DISPLAY 5,773 3,643 2,130  
    K66-EZ UP TENT 1,164 1,029 135  
    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 3,176 58,751  
    FURNITURE AND EQUIPMENT 53,715 3,906 49,809  
    CONSTRUCTION 11,978 614 11,364  
    CONVECTION OVEN 451 359 92  
    1124 -MRM SIGN 2,181 312 1,869  
    1124-CURDS AND WHEY DECALS 315 16 299  
    1124-INFO BOOTH 2,300 115 2,185  
    1124-POINT OF SALE ELECTRIC WORK 642 32 610  
    1124-OUTDOOR FREEZER 36,328 1,816 34,512  
    1124-KITCHEN 66 REMODEL 1,512 76 1,436  
    1124-HANING PENDANT LIGHTS 163 8 155  
    1124-REMODEL OF FRONT COUNTER 5,200 260 4,940  
    1124-ELECTRIC WORK 1,075 54 1,021  
    1124-SIGNS DECALS 365 18 347  
    1124-RESTAURANT EQUIPMENT & SUPPLY 5,585 798 4,787  
    1124-EQUIPMENT STAND,GAS FLOOR FRYER, GRIDDLE, GAS, ETC 13,580 1,940 11,640  
    1124-TENANT IMPROVEMENT-UNDER SHELF LIGHTS 725 36 689  
    1124-TENANT IMPROVEMENT-SHELVING AT BAR 3,460 173 3,287  
    1124-TENANT IMPROVEMENT-HEAT LAMP &SANDWICH GRILL 784 39 745  
    1124-TENANT IMPROVEMENT-GAS LINES, SNEEZE GUARDS,COVE BASE 1,250 63 1,187  
    1124-TENANT IMPROVEMENT-CURDS &WHEY 1,250 63 1,187  
    1124-TENANT IMPROVEMENT-CURDS &WHEY 775 39 736  
    1124 - ELITE SYSTEM 2,228 111 2,117  
    1124-CABINETS 13,160 658 12,502  


    TY 2021 LegalFeesSchedule
    Name:
    LT OPERATING FOUNDATION
    EIN:
    82-1728733
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 4,869 0 0 4,869


    TY 2021 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 3,679 2,966 2,966
    CHARLES SCHWAB INVESTMENT 1,535,328 1,599,077 1,623,791
    NOTES RECEIVABLE-CITY OF TULSA 433,703 1,918,797 1,918,797
    PREPAID EXPENSES 0 3,630 3,630


    TY 2021 OtherDecreasesSchedule
    Name:
    LT OPERATING FOUNDATION
    EIN:
    82-1728733
    Description Amount
    PRIOR PERIOD ADJUSTMENT-ACCUMULATED DEPRECIATION 8,861


    TY 2021 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 EXPENSE 3,409 0 0 3,409
    ADVERTISING EXPENSES 112,706 0 15,272 97,434
    STARTUP SERIES 1,598 0 515 1,083
    PERMIT/INSPECTION FEES 2,377 0 1,170 1,207
    UTILITIES 165,473 0 127,957 37,515
    BACKGROUND CHECKS 1,585 0 300 1,285
    BANK FEES 1,081 0 99 982
    TELEPHONE EXPENSES 25,223 0 0 25,223
    SECURITY 47,809 0 0 47,809
    DIRECT OP EXPENSES 9,941 0 4,120 5,821
    EQUIPMENT RENTAL 5,209 0 309 4,900
    JANITORIAL EXPENSES 62,506 0 139 62,367
    MISC EXPENSES 31,335 0 3,443 27,892
    FURNITURE 10,858 0 0 10,858
    MEALS & ENTERTAINMENT 7,721 0 1,484 6,237
    POS SYSTEM-POINT OF SALE 15,201 0 4,694 10,507
    PRINTING 2,271 0 0 2,271
    REPAIR AND MAINTANANCE 71,146 0 22,756 48,390
    PEST CONTROL 3,064 0 540 2,524
    SUBSCRIPTION 8,384 0 0 8,384
    SUPPLIES 122,208 0 28,517 93,691
    CREDIT CARD PROCESSING FEES 24,737 0 7,569 17,168
    LANDSCAPING 15,289 0 0 15,289
    RENT 18,948 0 8,283 10,665
    BENEFITS 78,961 0 1,000 77,961
    SCHEDULING SYSTEM 785 0 0 785
    BAD DEBT 24 0 0 24
    STRATEGIC EXPENSES 20,959 0 16,941 4,018
    WEB DESIGN & MAINTENANCE 675 0 675 0


    TY 2021 OtherIncomeSchedule2
    Name:
    LT OPERATING FOUNDATION
    EIN:
    82-1728733
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    MISCELLANEOUS INCOME 72,862   72,862
    PPP LOAN FORGIVENESS 204,859   204,859


    TY 2021 OtherLiabilitiesSchedule
    Name:
    LT OPERATING FOUNDATION
    EIN:
    82-1728733
    Description Beginning of Year - Book Value End of Year - Book Value
    RENTAL DEPOSITS-MARKET 66 LLC 25,500 24,550
    NOTES PAYABLE-LTFF 443,202 1,900,633


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    LT OPERATING FOUNDATION
    EIN:
    82-1728733
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PROFESSIONAL FEES 242,795 0 29,299 213,496


    TY 2021 TaxesSchedule
    Name:
    LT OPERATING FOUNDATION
    EIN:
    82-1728733
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INCOME TAXES 8,084 0 5,895 2,189
    PROPERTY TAXES 90,448 0 76,484 13,964
    PAYROLL TAX 64,540 0 0 64,540
    FOREIGN TAX 299 299 0 0