Petroleum Accountants Society Of The Permian Basin

Organization Overview

Petroleum Accountants Society Of The Permian Basin is located in Midland, TX. The organization was established in 1984. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Petroleum Accountants Society Of The Permian Basin is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.

For the year ending 05/2022, Petroleum Accountants Society Of The Permian Basin generated $37.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.2%) each year. All expenses for the organization totaled $37.0k during the year ending 05/2022. As we would expect to see with falling revenues, expenses have declined by (5.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990EZ Filing

TAX YEAR

2022

Describe the Organization's Program Activity:

Part 3

EDUCATION DAY IS GEARED TOWARD PROVIDING CONTINUING PROFESSIONAL EDUCATION CREDITS FOR INDIVIDUALS IN PETROLEUM ACCOUNTING. EDUCATION DAY PROVIDES EIGHT HOURS OF EDUCATION RELATED TO TOPICS SUCH AS GEOLOGY, SALES TAX, AUDIT, ROYALTIES, REVENUE ACCOUNTING AND MORE


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Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$33,030
Total Program Service Revenue$2,963
Membership dues$0
Investment income $1,768
Gain or Loss$0
Net Income from Gaming & Fundraising$0
Other Revenue$0
Total Revenue$37,761

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