[2025] OKEQ Financial Statements and Auditor's Report from September 2024

[2025] OKEQ Financial Statements and Auditor's Report from September 2024

Oklahomans for Equality, Inc. Financial Statements and Accompanying Independent Auditor's Report for the Year Ended September 30, 2024 with Comparative Totals for 2023

15 pages of Oklahomans for Equality (OKEQ)'s financial statements for the year ended September 30, 2024, with an independent auditor's report done by Ober & Littlefield and comparative totals for the year of 2023. Issued on May 7, 2025.

Oklahomans for Equality (OKEQ)

https://okeq.org/bylaws/

May 7, 2025

[WORK IN PROGRESS]

OKLAHOMANS FOR EQUALITY, INC.

FINANCIAL STATEMENTS AND ACCOMPANYING INDEPENDENT AUDITOR’S REPORT

FOR THE YEAR ENDED SEPTEMBER 30, 2024
WITH COMPARATIVE TOTALS FOR 2023

OKLAHOMANS FOR EQUALITY, INC.
TABLE OF CONTENTS

PAGE

Board of Directors .............................................................................................................................. 3
Independent Auditor’s Report ......................................................................................................... 4-5

Financial Statements
Statements of Financial Position .......................................................................................... 6
Statements of Activities ........................................................................................................ 7
Statements of Functional Expenses ....................................................................................... 8
Statements of Cash Flows ..................................................................................................... 9
Notes to the Financial Statements ................................................................................. 10-15

OKLAHOMANS FOR EQUALITY, INC.
BOARD OF DIRECTORS
SEPTEMBER 30, 2024

Whitney Cipolla President
Paula Shannon Vice-President/Treasurer
Kaylyn Compton Secretary
Liz Ortiz Member
Eddie Carreno Member
William Mark Bonney Member
Yonah Jasper Member
Julia Fletcher Member
Grace Fallon Member
Stephen Haney Member
Kasey Rhone Member
Zoe Brett Member
Lollie Moore Member at large

3

OBER & LITTLEFIELD
Certified Public Accountants, PLLC
124 S. Main Street, Miami, Oklahoma 74354
6 South Adair, Pryor, Oklahoma 74361
918-542-4401

INDEPENDENT AUDITOR’S REPORT

Senior Management and Board of Directors
Oklahomans for Equality, Inc.
Tulsa, Oklahoma

OPINION
We have audited the accompanying financial statements of the Oklahomans for Equality, Inc. (a nonprofit organization), which comprise the statements of financial position as of September 30, 2024, and the related statements of activities, statements of functional expenses, and cash flows for the year then ended, and the related notes to the financial statements.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Oklahomans for Equality, Inc. as of September 30, 2024, and the changes in its net assets and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.

BASIS FOR OPINION
We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Oklahomans for Equality, Inc. and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

RESPONSIBILITIES OF MANAGEMENT FOR THE FINANCIAL STATEMENTS
Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about of Oklahomans for Equality, Inc.'s ability to continue as a going concern within one year after the date that the financial statements are available to be issued.

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

4

To the Board of Directors
Oklahomans for Equality, Inc.
Page 2

In performing an audit in accordance with generally accepted auditing standards, we:
 Exercise professional judgment and maintain professional skepticism throughout the audit.
 Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
 Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Oklahomans for Equality, Inc.’s internal control. Accordingly, no such opinion is expressed.
 Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
 Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about Oklahomans for Equality, Inc.’s ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.

REPORT ON SUMMARIZED COMPARATIVE INFORMATION
We have previously audited Oklahomans for Equality, Inc.’s 2023 financial statements, and we expressed an unmodified audit opinion on those audited financial statements, in our report dated December 22, 2023. In our opinion, the summarized comparative information presented herein, as of and for the year ended September 30, 2023, is consistent, in all material respects, with the audited financial statements from which it has been derived.

[Signature: Ober & Littlefied, PLLC]

OBER & LITTLEFIELD
Certified Public Accountants, PLLC
Miami, Oklahoma
May 7, 2025

5

OKLAHOMANS FOR EQUALITY, INC.
STATEMENTS OF FINANCIAL POSITION
AS OF SEPTEMBER 30, 2024
WITH COMPARATIVE TOTALS YEAR ENDED SEPTEMBER 30, 2023

2024 2023

Assets
Current Assets:
Cash and cash equivalents $549,201.46 $80,446.42
Cash and cash equivalents - restricted 31,159.19 97,766.15
Investments held by others 50,934.96 43,994.38
Inventory 13,004.85 8,946.43
Prepaid insurance 62,428.14 19,590.23
Other assets 22,690.07 2,024.30
Total Current Assets 704,694.48 277,492.10

Noncurrent Assets:
Furniture and Fixtures 134,098.46 134,098.46
Buildings and Improvements 2,013,376.54 2,013,376.54
Computers and Software 15,080.30 15,080.30
Less: Accumulated Depreciation (1,045,140.26) (944,137.42)
Total Noncurrent Assets 1,117,415.04 1,218,417.88
Total Assets $1,822,109.52 $1,495,909.98

Liabilities
Current Liabilities:
Accounts payable $18,301.75 $26,862.12
Accrued expenses 1,665.79 32,186.42
Deferred revenue 79,886.00 1,723.75
Payroll liabilities 25,596.87 856.31
Sales tax payable 941.77 138.24
Total Liabilities 126,392.18 61,766.84

Net Assets
Net assets without donor restrictions 1,664,558.15 1,336,376.99
Net assets with donor restrictions 31,159.19 97,766.15
Total Net Assets 1,695,717.34 1,434,143.14
Total Liabilities and Net Assets $1,822,109.52 $1,495,909.98

The accompanying notes are an integral part of these financial statements.

6

OKLAHOMANS FOR EQUALITY, INC.
STATEMENTS OF ACTIVITIES
FOR THE YEAR ENDED SEPTEMBER 30, 2024
WITH COMPARATIVE TOTALS YEAR ENDED SEPTEMBER 30, 2023

2024 2023
Without Donor Restriction With Donor Restriction Total Total
Revenues, gains, and other support
Support:
Grants 244,549.50 36,244.00 280,793.50 309,922.57
Contributions 287,931.49 50,515.71 338,447.20 376,482.68
Membership income 7,881.45 - 7,881.45 18,891.05
Sponsorship 455,731.44 - 455,731.44 184,589.10
Other Income 149,658.96 - 149,658.96 293,140.47
Total Support 1,145,752.84 86,759.71 1,232,512.55 1,203,300.87
Net assets released from restrictions 153,366.67 (153,366.67) - -
Total support 1,299,119.51 (66,606.96) 1,232,512.55 1,203,300.87

Revenues and gains/(losses):
Unrealized gain/(loss) on investment 7,172.06 - 7,172.06 2,462.20
Total revenue and gains/(losses) 7,172.06 - 7,172.06 2,462.20
Total revenues, gains/(losses), and other support 1,306,291.57 (66,606.96) 1,239,684.61 1,205,763.07

EXPENSES:
Program Services 568,246.63 - 568,246.63 792,989.54
Support Services: Fundraising 63,545.67 - 63,545.67 48,454.12
Support Services: General and Administrative 346,318.11 - 346,318.11 345,035.04
Total expenses 978,110.41 - 978,110.41 1,186,478.70

Increase (decrease) in net assets 328,181.16 (66,606.96) 261,574.20 19,284.37

Net assets, beginning of year 1,336,376.99 97,766.15 1,434,143.14 1,414,858.77
Net assets, end of year $1,664,558.15 $31,159.19 $1,695,717.34 $1,434,143.14

The accompanying notes are an integral part of these financial statements.

7

OKLAHOMANS FOR EQUALITY, INC.
STATEMENTS OF FUNCTIONAL EXPENSES
FOR THE YEAR ENDED SEPTEMBER 30, 2024
WITH COMPARATIVE TOTALS YEAR ENDED SEPTEMBER 30, 2023

2024 2023
Program Fundraising General & Admin Total Total
Advertising $567.07 - $233.00 $800.07 $4,300.20
Bank Fees 1,609.92 - 12,305.65 13,915.57 19,891.05
Chapter and Affiliate Expense 64,621.75 - - 64,621.75 59,601.61
Computer and Software 3,830.15 5,321.26 8,979.93 18,131.34 13,984.93
Contracted Services 10,670.00 - 19,149.00 29,819.00 49,125.50
Cost of Goods Sold 13,028.83 - - 13,028.83 34,681.62
Dues, Fees and Registrations - - 1,198.00 1,198.00 8,964.00
Employee benefits 15,815.16 4,210.00 12,503.21 32,528.37 10,848.68
Event expense 8,416.63 - - 8,416.63 104,013.62
Fundraising Costs - 16,003.10 - 16,003.10 -
Insurance 6,068.23 - 22,209.99 28,278.22 40,746.16
Meals 2,764.93 - 566.56 3,331.49 4,250.59
Miscellaneous 957.50 - 6,704.20 7,661.70 3,442.38
Office/Postage Expense 2,645.76 - 12,802.68 15,448.44 2,488.59
Payroll tax expense 19,937.83 3,136.10 9,494.27 32,568.20 26,467.17
Program Expenses 20,790.68 - - 20,790.68 46,093.70
Printing/Copying Expense 3,654.60 - 2,111.96 5,766.56 6,440.97
Professional Services 17,911.90 - 51,535.54 69,447.44 107,928.40
Repairs and Maintenance 28,926.24 - 12,229.54 41,155.78 27,384.37
Salaries and Wages 231,660.80 34,875.21 107,615.09 374,151.10 348,783.13
Security 12,825.00 - 3,677.50 16,502.50 63,265.85
Staff and Board Development - - 96.00 96.00 495.00
Supplies 3,952.76 - 17,638.23 21,590.99 34,280.84
Travel Expense 354.96 - 2,679.55 3,034.51 4,222.21
Utilities Expense 33,912.51 - 4,908.79 38,821.30 43,888.85
Total Expenses Before Depreciation 504,923.21 63,545.67 308,638.69 877,107.57 1,080,518.07
Depreciation 63,323.42 - 37,679.42 101,002.84 105,960.63
Total Expenses $568,246.63 $63,545.67 $346,318.11 $978,110.41 $1,186,478.70

The accompanying notes are an integral part of these financial statements.

8

OKLAHOMANS FOR EQUALITY, INC.
STATEMENTS OF CASH FLOWS
FOR THE YEAR ENDED SEPTEMBER 30, 2024
WITH COMPARATIVE TOTALS YEAR ENDED SEPTEMBER 30, 2023
2024 2023
Cash flows from operating activities
Change in net assets $261,574.20 $19,284.37
Adjustments to reconcile change in net assets to net cash used in operating activities:
Depreciation expense 101,002.84 105,960.63
Unrealized gain on investments (6,940.58) (2,444.51)
(Increase)/decrease in operating assets:
Promises to give 20,665.77 (22,690.07)
Inventory 4,058.42 2,696.63
Prepaid expenses (42,837.91) (19,590.23)
Increase/(decrease) in operating liabilities:
Accounts payable and accrued expenses (39,081.00) 23,950.68
Payroll liabilities 24,740.56 (5,848.74)
Sales tax payable 803.53 951.47
Unearned revenue 78,162.25 1,723.75
Net cash provided/(used) by operating activities 402,148.08 103,993.98

Cash flows from investing activities
Purchase of property and equipment - (24,021.91)
Net cash provided/(used) by investing activities - (24,021.91)

Net increase/(decrease) in cash 402,148.08 79,972.07
Cash and cash equivalents, beginning of year 178,212.57 98,240.50
Cash and cash equivalents, end of year $580,360.65 $178,212.57

Reconciliation to statement of financial position:

Cash and cash equivalents $549,201.46 $80,446.42
Restricted cash 31,159.19 97,766.15
$178,212.57 $580,360.65 

The accompanying notes are an integral part of these financial statements.

9

OKLAHOMANS FOR EQUALITY, INC.
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2024
WITH COMPARATIVE TOTALS YEAR ENDED SEPTEMBER 30, 2023

Note 1 – Nature of the Organization
The Oklahomans for Equality, Inc. (the “Organization”), is an Oklahoma nonprofit corporation, incorporated on November 20th, 2006. Oklahomans for Equality, Inc., formerly known as Tulsa Oklahomans for Human Rights (TOHR), have served the Two Spirit, Lesbian, Gay, Bisexual, Transgender, Queer/Questioning, Intersex, and Asexual (2SLGBTQIA+) community since the organization was founded in 1980. The Oklahomans for Equality, Inc. seeks equal rights for 2SLGBTQIA+ individuals and families through advocacy, education, programs, alliances, and the operation of the Dennis R. Neill Equality Center.

Note 2 – Summary of Significant Accounting Policies
Basis of Accounting – The financial statements are prepared using the accrual basis of accounting. Accordingly, revenue is recorded when earned, and expenses are recorded when incurred. The financial statements are presented in accordance with authoritative accounting standards for not-for-profit organizations. As such, the standards require contributions to be recognized as revenue when they are received, or unconditionally pledged, and net assets to be classified as net assets with donor restrictions or net assets without donor restrictions, depending on the limitations placed on the contributions when received.
Income Taxes – The Organization is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. As such, no provision has been made for federal or state income taxes. In addition, the Organization has been determined by the Internal Revenue Service not to be a private foundation, within the meaning of Section 509(a) of the Internal Revenue Code.
The Organization’s Forms 990, Organization Exempt from Income Tax, for the years ending 2021, 2022, and 2023 are subject to examination by the IRS, generally for three years after they were filed.
Estimates – The preparation of financial statements, in conformity with accounting principles generally accepted in the United States of America, requires management to make estimates, and assumptions, that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.
Cash and Cash Equivalents – Cash and cash equivalents include all monies in banks, and highly liquid investments, with maturity dates of less than twelve months. The carrying value of cash, and cash equivalents, approximates fair value because of the short maturities of those financial instruments.
Concentrations of Credit and Market Risk – Financial instruments that potentially expose the Organization to concentrations of credit, and market risk consist primarily of cash equivalents and investments. Cash equivalents are maintained at high-quality financial institutions, and credit risk exposure is limited at any one institution. The Organization has not experienced any losses on its cash equivalents.
Property and Equipment – Property and equipment are recorded at acquisition cost. The Organization capitalizes assets with a cost greater than $2,500. Betterments and renewals are capitalized. Maintenance and repairs are charged to operations when incurred. Depreciation is computed using the straight-line method, over the following estimated useful lives:
Building and improvements 40 years
Equipment 3-10 years
Vehicles 3 years

10

OKLAHOMANS FOR EQUALITY, INC.
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2024
WITH COMPARATIVE TOTALS YEAR ENDED SEPTEMBER 30, 2023

Note 2 – Summary of Significant Accounting Policies: (continued)
Classification of Net Assets - Net assets of the Organization shall be classified based upon the existence, or absence, of donor-imposed restrictions, as follows:
Net Assets without Donor Restrictions - Net assets that are not subject to donor-imposed stipulations.
Net Assets with Donor Restrictions - Net assets subject to donor-imposed stipulations that may, or will be, satisfied through the actions of the Organization, and/or the passage of time.
Net assets accumulated by the Organization that are not subject to donor-imposed restrictions, but which the Board of Directors of the Organization has earmarked for specific uses, shall be segregated in the accounting records as "board-designated" funds, within the category of net assets without donor restrictions.

Note 3 – Concentrations of Credit Risk
Custodial credit risk is the risk that, in the event of a bank failure, the Organization’s deposits may not be returned to it. The Organization’s cash deposits, including interest-bearing certificates of deposit, are maintained in financial institutions. The Organization has a deposit policy for custodial credit risk to move funds to another institution if the balance exceeds FDIC coverage.
Category Carrying Bank
A B C Amount Balance
Demand deposits $500,000.00 $ - $80,360.65 $580,360.65 $576,802.34
Total $500,000.00 - $80,360.65 $580,360.65 $576,802.34
Category A – Cash and cash equivalents that are insured by the Federal Deposit Insurance Corporation (FDIC) or collateralized with securities held by the Organization, or its agent, in the Organization’s name.
Category B – Collateralized with securities held by the pledging financial institution’s trust department, or agent, in the Organization’s name.
Category C – Uninsured or unregistered investments for which securities are held by the pledging financial institution’s trust department, or agent, but not in the Organization’s name.

Note 4 – Promises to Give
Promises to give are majorly comprised of contributions awarded by third parties but not received prior to year-end. There were $0 promises to give as of September 30, 2024.

11

OKLAHOMANS FOR EQUALITY, INC.
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2024
WITH COMPARATIVE TOTALS YEAR ENDED SEPTEMBER 30, 2023

Note 5 – Restricted Cash
As of September 30, 2024, the Organization had restricted cash in the amount of $31,159.19. Restricted as follows:
Restricted Purpose Amount
Chapter and Affiliates $5,957.93
Food Insecurity Grant 10,594.00
History Project 8,360.01
Lynn Riggs/Kitchen 1,789.37
Van Insurance 1,167.75
Rainbow Room 2,500.00
Various >$2K 790.13
Total $31,159.19

Note 6 – Investments Held by Others
Investments held by others, as of September 30, 2024, consist of two investment funds held by Tulsa Community Foundation (TCF): The OkEq Operating Endowment Fund and the OkEq Capital Campaign Fund. These funds are invested in pooled funds, cash, and equivalents. The investments are carried on the Organization’s books at fair market value. These funds are component funds of Tulsa Community Foundation (TCF). As defined by the United States Treasury Regulations, TCF has the right to modify the terms of the fund agreement. This is sometimes referred to as “variance power”. As a result of the variance power all component funds are considered to be part of a single public charity, TCF. TCF is the legal owner of all assets contributed to any of its component funds.
Financial Accounting Standards Board requires that if TCF accepts contributions from the Organization and agrees to transfer those assets and the return on investment of those assets back to the Organization, then these contributions are to be reported on the financial statements of the Organization.
The OkEq Operating Endowment Fund -This fund was established as Oklahomans for Equality Fund, a TCF Agency Fund, in April 2001. It transitioned to the OkEq Operating Endowment Fund on 12/30/2010. Current fund advisors are Board President, Vice President, and Treasurer. With 2/3 of the Advisors, TCF can accept annual distribution requests and make changes to the fund including the investment strategy. The portion allocated to the Organization, and reported as investments held by others, is $16,369.53. The portion of funds contributed to TCF by unrelated third-party donors and not reported as investments held by others on the Organizations books is $15,238.78.
The OkEq Capital Campaign Fund - This fund was originally established by Tulsa Oklahomans for Human, Rights, Inc. as the Pyramid Project Capital Campaign Reserve Fund, a TCF agency reserve fund, in April 2002. It was renamed to the OkEq Capital Campaign Fund in TCF records. It is an agency reserve fund, and the funds are available to purchase , furnish, maintain, or make improvements to a building to house the Tulsa gay, lesbian, bisexual and transgender Community Center owned by Tulsa Oklahomans for Human Rights. Current fund advisors are Board President, Vice President, and Treasurer. With 2/3 of the Advisors, TCF can accept annual distribution requests and make changes to the fund including the investment strategy. The portion allocated to the Organization and reported as investments held by others $34,565.43. The portion of funds contributed to TCF by unrelated third-party donors and not reported as investments held by others on the Organization’s books is $122,904.98.

13 [sic.]

OKLAHOMANS FOR EQUALITY, INC.
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2024
WITH COMPARATIVE TOTALS YEAR ENDED SEPTEMBER 30, 2023

Note 6 – Investments Held by Others (continued)
As of September 30, 2024, the balances are insured by the Securities Investor Protection Corporation (SIPC), up to $500,000. Cash coverage is limited at $250,000. At times, the Organization’s deposits may exceed insured amounts. Management believes the funds are not exposed to any significant risk due to the diversity of high-grade financial instruments held by the fund, and management’s routine assessment of the portfolio.
Investment Interest Rate Risk
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in market interest rates.

Note 7 – Fair Value Measurements
The Organization reports fair value measurements of its assets and liabilities using a three-level hierarchy that prioritizes the inputs used to measure fair value. This hierarchy, established by GAAP, requires that entities maximize the use of observable inputs, and minimize the use of unobservable inputs, when measuring fair value. The assets or liability’s measurement within the fair value hierarchy is based on the lowest level of input that is significant to the measurement. The three levels of input used to measure fair value are as follows:
Level 1. Quoted prices are for identical assets or liabilities in active markets to which the Organization has access at the measurement date.
Level 2. Inputs other than quoted prices included in level 1 that are observable for the assets or liability, either directly or indirectly. Level 2 inputs include:
 Quoted prices for similar assets or liabilities in active markets;
 Quoted prices for identical or similar assets in markets that are not active;
 Observable inputs other than quoted prices for the asset or liability (for example, interest rates and yield curves); and
 Inputs derived principally from, or corroborated by, observable market data by correlation, or by other means.
Level 3. Unobservable inputs for the assets or liabilities. Unobservable inputs should be used to measure the fair value if observable inputs are not available. When available, the Organization measures fair value using Level 1 inputs because they generally provide the most reliable evidence of fair value. However, Level 1 inputs are not available for many of the assets and liabilities that the Organization is required to
measure at fair value (for example, unconditional promise to give and in-kind contributions). The primary uses of fair value measurements in the Organization’s financial statements are the initial measurement of noncash gifts, gifts of investment assets, if any, including unconditional promises to give, and recurring measurement of short-term and long-term investments.

13

OKLAHOMANS FOR EQUALITY, INC.
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2024
WITH COMPARATIVE TOTALS YEAR ENDED SEPTEMBER 30, 2023

Note 8 – Property and Equipment
The following is an analysis of property and equipment, at cost, and related depreciation at September 30, 2024:
Beginning of Year Additions Deletions End of Year
Furniture and Fixtures 134,098.46 - - 134,098.46
Building and Improvements 2,013,376.54 - - 2,013,376.54
Computers and Software 15,080.30 - - 15,080.30
Total Capital Assets 2,162,555.30 - - 2,162,555.30
Less: Accumulated Depreciation (944,137.42) (101,002.84) - (1,045,140.26)
Net Book Value $1,218,417.88 $(101,002.84) $ - $1,117,415.04

Note 9 – Deferred Revenue
Deferred revenue represents payments received for events occurring subsequent to year end.

Note 10 – Note Payable
The Organization had no notes payable as of September 30, 2024.

Note 11 – Donated Services
The Organization receives a significant amount of donated services from unpaid volunteers, who assist in fundraising and special projects. No amounts have been recognized in the statement of activities because the criteria for the recognition, under authoritative accounting standards, have not been satisfied.

Note 12 – Functional Allocation of Expenses
The costs of providing the various programs, and supporting services, have been summarized on a functional basis, in the statement of functional expenses. Costs that are not directly associated with providing specific services have been allocated based on the relative time spent by the employees providing these services.

Note 13 – Commitments and Contingencies
As of the date of this report, the Organization had no commitments or contingencies other than those reported on the statement of financial position.

14

OKLAHOMANS FOR EQUALITY, INC.
NOTES TO THE FINANCIAL STATEMENTS
SEPTEMBER 30, 2024
WITH COMPARATIVE TOTALS YEAR ENDED SEPTEMBER 30, 2023

Note 14 – Liquidity and Availability
Financial assets available for general expenditure, that is, without donor or other restrictions limiting their use, within one year of September 30, 2024, are:
Cash and cash equivalents $580,360.65
Investments 50,934.96
Other assets 2,024.30
Total financial assets, at year end 633,319.91
Less those unavailable for general expenditures within on year, due to:
Contractual or donor-imposed restrictions
Restricted by donor with time or purpose restrictions 31,159.19
Financial assets available to meet cash needs for general expenditures within one year $602,160.72

Note 15 – Net Assets with Donor Restrictions
The Organization has $31,159.19 net assets with donor restrictions at September 30, 2024.
Restricted Purpose Amount
Chapter and Affiliates $5,957.93
Food Insecurity Grant 10,594.00
History Project 8,360.01
Lynn Riggs/Kitchen 1,789.37
Van Insurance 1,167.75
Rainbow Room 2,500.00
Various >$2K 790.13
Total $31,159.19

Note 16 – Evaluation of Subsequent Events
The Organization has evaluated subsequent events through May 7, 2025, the date which the financial statements were available to be issued, and no additional disclosures are required.