Propane Education & Research Council Inc
- Assets
- $58.8m
- Revenue
- $39.0m
- Investments
- $0.0
- Employees
- 41
- Location
- Washington, DC
- Founding
- 02/1998
- Data as of
- 12/2023
- EIN
- 36-4192410
Organization Overview
Propane Education & Research Council Inc is located in Washington, DC. The organization was established in 1998. According to its NTEE Classification (B03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Education and related organizations. As of 12/2023, Propane Education & Research Council Inc employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Propane Education & Research Council Inc 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 12/2023, Propane Education & Research Council Inc generated $39.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $43.0m during the year ending 12/2023. While expenses have increased by 3.1% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
EXPAND AND GROW SAFE EFFICIENT USE OF ODORIZED PROPANE GAS AS PREFERRED ENERGY SOURCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESEARCH AND DEVELOPMENT - SUPPORT RESEARCH RELATED TO THE USE OF ODORIZED PROPANE AND DEVELOPMENT OF PROPANE UTILIZATION EQUIPMENT.
SAFETY AND TRAINING - SUPPORT PUBLIC AND PROPANE INDUSTRY AWARENESS AND TRAINING TO FOSTER THE SAFE, EFFICIENT USE AND HANDLING OF ODORIZED PROPANE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Perkins President And CEO | Officer | 40 | $573,474 |
Gavin Hale Dir Of Product Development & Power Generati | 40 | $268,108 | |
Bridget Kidd Chief Operating Officer | Officer | 40 | $260,264 |
Shawn Stack Vp, Finance, Data, Technology | Officer | 40 | $222,006 |
Eric Kuster Svp, Safety, Educ, And Comp | Officer | 40 | $227,833 |
Erin Hatcher Svp, Comms And Marketin | Officer | 40 | $225,181 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Grp Media Inc Media Strategy And Planning | 12/30/23 | $14,409,520 |
Swanson Russell Inc Consulting | 12/30/23 | $1,934,991 |
Elevation Advertising Llc Media Strategy And Planning | 12/30/23 | $1,104,849 |
Cummins Inc Technology Development Consulting | 12/30/23 | $800,000 |
National Propane Gas Association Strategic Partnership And Technical Rese | 12/30/23 | $1,008,750 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $36,948,005 |
| Investment income | $2,217,408 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $213,275 |
| Net Gain/Loss on Asset Sales | -$123 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$363,747 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $39,041,155 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,673,600 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,146,276 |
| Pension plan accruals and contributions | $191,352 |
| Other employee benefits | $431,942 |
| Payroll taxes | $388,568 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $209,084 |
| Fees for services: Accounting | $419,604 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $27,894,325 |
| Advertising and promotion | $0 |
| Office expenses | $504,823 |
| Information technology | $3,226,249 |
| Royalties | $0 |
| Occupancy | $506,381 |
| Travel | $1,405,483 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,250,418 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,686 |
| Insurance | $137,478 |
| All other expenses | $1,991 |
| Total functional expenses | $42,998,111 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $12,399,743 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,787,335 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $562,586 |
| Prepaid expenses and deferred charges | $730,592 |
| Net Land, buildings, and equipment | $188,896 |
| Investments—publicly traded securities | $36,837,055 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,314,595 |
| Total assets | $58,820,802 |
| Accounts payable and accrued expenses | $3,346,205 |
| Grants payable | $0 |
| Deferred revenue | $6,100 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,466,672 |
| Total liabilities | $16,818,977 |
| Net assets without donor restrictions | $42,001,825 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $58,820,802 |