North Dakota Petroleum Council Inc
- Assets
- $6.9m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 10
- Location
- Bismarck, ND
- Founding
- 07/2002
- Data as of
- 12/2023
- EIN
- 45-0454738
Organization Overview
North Dakota Petroleum Council Inc is located in Bismarck, ND. The organization was established in 2002. 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. As of 12/2023, North Dakota Petroleum Council Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Dakota Petroleum 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, North Dakota Petroleum Council Inc generated $2.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $2.4m during the year ending 12/2023. While expenses have increased by 0.7% 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
TO PROMOTE AND ENHANCE THE DISCOVERY, DEVELOPMENT, PRODUCTION, TRANSPORTATION, REFINING, CONSERVATION AND MARKETING OF OIL & GAS IN NORTH DAKOTA, SOUTH DAKOTA, AND THE ROCKY MOUNTAIN REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE EDUCATIONAL OUTREACH TO MEMBERS AND THE GENERAL PUBLIC THROUGH SEMINARS, PUBLIC FORUMS, EDUCATION BOOTHS AND ANNUAL MEETING AND SHOWCASE. EVERY 2 YEARS HOST THE WILLISTON BASIN PETROLEUM CONFERENCE WHICH BRINGS TOGETHER OVER 4,000 INDIVIDUALS WORKING IN THE OIL INDUSTRY TO EXCHANGE INFORMATION CONCERNING THE BAKKEN REGION, NEW DEVELOPMENT, NEW TECHNOLOGICS AND TRENDS.
PROVIDE ANNUAL MEETING OF NDPC MEMBERS FOR A REVIEW OF THE PAST YEAR AND A LOOK INTO THE NEXT YEAR. THIS IS COUPLED WITH EDUCATION AND SPEAKERS OF INTEREST.
PROVIDE ONE BASIN ONE WAY EMPLOYEE SAFETY PROGRAM TO THE INDUSTRY. THIS PROGRAM TRAINS 275 EMPLOYEES PER WEEK AND STRIVES TO IMPROVE SAFETY WITHIN THE INDUSTRY.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Anderson Board Member | Trustee | 1 | $0 |
Lawrence Bender Chair/past Chair (sept) | OfficerTrustee | 1 | $0 |
Kathy Neset Past Chair/member (sept) | OfficerTrustee | 1 | $0 |
Mike Armstrong Board Member | Trustee | 1 | $0 |
Jeff Herman Secretary/treasurer | OfficerTrustee | 1 | $0 |
Ryan Kopseng Board Member | Trustee | 1 | $0 |
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 | $18,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,000 |
| Total Program Service Revenue | $2,113,120 |
| Investment income | $129,333 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $17,226 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,378,499 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $201,668 |
| 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. | $536,161 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $358,167 |
| Pension plan accruals and contributions | $16,181 |
| Other employee benefits | $38,531 |
| Payroll taxes | $51,780 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $23,396 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,207 |
| Fees for services: Other | $41,145 |
| Advertising and promotion | $12,636 |
| Office expenses | $60,052 |
| Information technology | $11,435 |
| Royalties | $0 |
| Occupancy | $94,025 |
| Travel | $65,033 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $80,460 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,489 |
| All other expenses | $76,454 |
| Total functional expenses | $2,414,049 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $559,139 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $549,675 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $206,231 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $5,571,083 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,886,128 |
| Accounts payable and accrued expenses | $176,640 |
| Grants payable | $0 |
| Deferred revenue | $1,788,966 |
| 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 | $0 |
| Total liabilities | $1,965,606 |
| Net assets without donor restrictions | $4,920,522 |
| 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 | $6,886,128 |
Grants Awarded
Over the last fiscal year, North Dakota Petroleum Council Inc has awarded $480,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
ND GEOLOGICAL SURVEY FUND PURPOSE: OPERATING | $310,000 |
MISSOURI SLOPE AREAWIDE UNITED WAY PURPOSE: OPERATING | $10,000 |
STATE HISTORICAL SOCIETY OF ND FOUNDATION PURPOSE: OPERATING | $150,000 |
VILLAGE FAMILY SERVICE CENTER PURPOSE: OPERATING | $10,000 |