Kansas Independent Oil & Gas Assn
- Assets
- $2.2m
- Revenue
- $958.5k
- Investments
- $0.0
- Employees
- 2
- Location
- Topeka, KS
- Founding
- 12/1939
- Data as of
- 12/2023
- EIN
- 48-0289485
Organization Overview
Kansas Independent Oil & Gas Assn is located in Topeka, KS. The organization was established in 1939. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Kansas Independent Oil & Gas Assn employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kansas Independent Oil & Gas Assn 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, Kansas Independent Oil & Gas Assn generated $958.5k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $825.0k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.1%) per year over the past 9 years. 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
PROMOTION OF THE KANSAS OIL & GAS INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MARKET IMPROVEMENTS FOR KANSAS OIL AND GAS AND PROMOTION OF THE WELFARE OF OIL AND GAS INDUSTRY IN THE STATE OF KANSAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrea Krauss Chairman | OfficerTrustee | 1 | $0 |
Dana Wreath Chairman Elect | OfficerTrustee | 1 | $0 |
Charles B Wilson Vice Chairman | OfficerTrustee | 1 | $0 |
Randy Trimble Vice Chairman | OfficerTrustee | 1 | $0 |
John O Farmer IV Vice Chairman | OfficerTrustee | 1 | $0 |
Timothy D Hellman Vice Chairman | OfficerTrustee | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $919,820 |
| Investment income | $55,835 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$45,822 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $958,517 |
| 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. | $184,937 |
| Compensation of current officers, directors, key employees. | $72,125 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $82,563 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,056 |
| Payroll taxes | $18,041 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $30,000 |
| Fees for services: Accounting | $17,393 |
| Fees for services: Lobbying | $515 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,935 |
| Office expenses | $12,078 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $30,180 |
| Travel | $16,143 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $349,991 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,185 |
| Insurance | $24,586 |
| All other expenses | $0 |
| Total functional expenses | $824,987 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $51,673 |
| Savings and temporary cash investments | $638,673 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $8,176 |
| Net Land, buildings, and equipment | $12,212 |
| Investments—publicly traded securities | $1,455,395 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,166,129 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $391,906 |
| 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 | $391,906 |
| Net assets without donor restrictions | $1,774,223 |
| 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 | $2,166,129 |