Ipaa Educational Foundation
- Assets
- $210.8k
- Revenue
- $387.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 07/1998
- Data as of
- 12/2021
- EIN
- 52-1849282
Organization Overview
Ipaa Educational Foundation is located in Washington, DC. The organization was established in 1998. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ipaa Educational Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Ipaa Educational Foundation generated $387.6k 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 (12.6%) each year. All expenses for the organization totaled $429.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (7.7%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION SUPPORTS PROGRAMS THAT EDUCATE THE PUBLIC ABOUT THE OIL AND NATURAL GAS INDUSTRY AND PROVIDES GRANTS TO CHARITABLE AND EDUCATION PROGRAMS, PARTICULARLY RELATED TO ENERGY EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION SUPPORTS VARIOUS EDUCATIONAL AND CHARITABLE ACTIVITIES SUCH AS ENERGY CURRICULA, STUDENT COMPETITIONS, AND STUDENT EXTERNSHIPS. THE FOUNDATION PRIMARILY SUPPORTS EDUCATION BY PROVIDING OIL AND GAS INDUSTRY EDUCATION IN THE FOLLOWING AREAS: 1. AWARD-WINNING HIGH SCHOOL PETROLEUM ACADEMIES 2. MIDDLE SCHOOL STEM CAREER EXPLORATION INITIATIVE 3. OIL & GAS COURSES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barrett Russell President/ce | OfficerTrustee | 8 | $0 |
Galen Cobb Director | Trustee | 1 | $0 |
Steven B Hinchman Vice Chairma | Trustee | 1 | $0 |
James H Wilkes Director | Trustee | 1 | $0 |
Diemer D True Director | 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 | $357,304 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $357,304 |
| Total Program Service Revenue | $30,275 |
| Investment income | $24 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $387,603 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,250 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $150,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $224,599 |
| Advertising and promotion | $2,161 |
| Office expenses | $11,033 |
| Information technology | $14,202 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $134 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,982 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $429,417 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $193,267 |
| Savings and temporary cash investments | $0 |
| 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 | $17,500 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $210,767 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $1,400 |
| 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 | $113,023 |
| Total liabilities | $114,423 |
| Net assets without donor restrictions | $96,344 |
| 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 | $210,767 |
Grants Awarded
Over the last fiscal year, Ipaa Educational Foundation has awarded $26,256 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Houston, TX PURPOSE: EDUCATION | $13,346 |
WESTSIDE HIGH SCHOOL PURPOSE: EDUCATION | $6,507 |
SOUTHWEST HIGH SCHOOL PURPOSE: EDUCATION | $6,403 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Ipaa Educational Foundation has recieved totaling $102,645.
| Awarding Organization | Amount |
|---|---|
Petroleum Equipment & Services Association Houston, TX PURPOSE: EDUCATION | $75,000 |
American Association Of University Women Educational Foundation Inc Chicago, IL PURPOSE: GENERAL | $17,366 |
American Fuel And Petrochemical Manufacturers Washington, DC PURPOSE: GENERAL SUPPORT | $10,000 |
E Irene Boardman Foundation Inc The Prospect, CT PURPOSE: SCHOLARSHIP AID | $200 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $79 |
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|---|---|---|
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Old Dominion Land Conservancy Inc Purcellville, VA | $5,990,691 | $40,101,797 |
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Cal Ripken Sr Foundation Inc Baltimore, MD | $24,973,997 | $16,406,660 |
American Association For Clinical Chemistry Inc Washington, DC | $31,632,986 | $18,150,460 |
Susan B Anthony List Inc Arlington, VA | $6,109,204 | $16,065,131 |
Aids United Washington, DC | $16,240,693 | $19,019,266 |
Media Matters For America Washington, DC | $25,734,430 | $18,794,929 |
Appletree Institute For Education Innovation Inc Washington, DC | $11,136,365 | $16,950,350 |
Seton Home Study School Front Royal, VA | $19,128,742 | $13,590,541 |
Association Of Schools And Programs Of Public Health Inc Washington, DC | $11,824,583 | $12,542,035 |