American Association Of Petroleum Geologists
- Assets
- $20.5m
- Revenue
- $7.3m
- Investments
- $0.0
- Employees
- 55
- Location
- Tulsa, OK
- Founding
- 10/1943
- Data as of
- 06/2021
- EIN
- 73-0125920
Organization Overview
American Association Of Petroleum Geologists is located in Tulsa, OK. The organization was established in 1943. According to its NTEE Classification (U03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Science & Technology and related organizations. As of 06/2021, American Association Of Petroleum Geologists employed 55 individuals. This organization is the central organization for a national or regional group of organizations. American Association Of Petroleum Geologists 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 06/2021, American Association Of Petroleum Geologists generated $7.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (9.3%) each year. All expenses for the organization totaled $9.0m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (10.7%) per year over the past 6 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 AMERICAN ASSOCIATION OF PETROLEUM GEOLOGISTS IS A SCIENTIFIC ORGANIZATION DEDICATED TO THE ADVANCEMENT OF THE SCIENCE OF PETROLEUM GEOLOGY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION SEMINARS - TO PROMOTE EDUCATION AND PROVIDE A FORUM FOR DISSEMINATION OF CURRENT DEVELOPMENTS WITHIN THE FIELD OF PETROLEUM GEOLOGY AND FOR THE ADVANCEMENT OF THE SCIENCE OF PETROLEUM GEOLOGY.
MEETINGS & CONVENTIONS - TO PROVIDE AN ORGANIZED GATHERING FOR STUDENTS AND PROFESSIONALS TO LEARN AND REVIEW THE TECHNOLOGY USED IN THE ADVANCEMENT OF PETROLEUM GEOLOGY.
SCIENTIFIC PUBLICATIONS AND PERIODICALS - SCIENCE REFERENCE AND TRAINING MANUALS AND MONTHLY BULLETIN AND EXPLORER PERIODICALS.
ENERGY MINERALS DIVISION - TO PROVIDE A FORUM FOR RESEARCH AND DISCUSSION FOR GEOLOGISTS INVOLVED IN THE EXPLORATION OF OIL AND NATURAL GAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David K Curtiss Executive Director | Officer | 32 | $218,534 |
Alan T Wegener Director Of Global Experience | Officer | 40 | $189,670 |
Vernon L Stefanic Director Of Governance And | 40 | $138,711 | |
Bryan A Haws Controller | 40 | $116,188 | |
Susan Nash Director Of Science & Innovation | 40 | $113,288 | |
Gretchen Gillis President | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
John Ratchford Construction | 6/29/20 | $127,747 |
Hogantaylor Llp Cpa Services | 6/29/20 | $112,037 |
John Ratchford Construction | 6/29/20 | $127,747 |
Hogantaylor Llp Cpa Services | 6/29/20 | $112,037 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $227,067 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $232,901 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $459,968 |
| Total Program Service Revenue | $4,857,997 |
| Investment income | $428,707 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $15,324 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $746,860 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $420,525 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,257,597 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $11,400 |
| Grants and other assistance to Foreign Orgs/Individuals | $52,601 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $275,274 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,670,384 |
| Pension plan accruals and contributions | $22,288 |
| Other employee benefits | $995,527 |
| Payroll taxes | $225,781 |
| Fees for services: Management | $476,526 |
| Fees for services: Legal | $19,208 |
| Fees for services: Accounting | $77,338 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,097 |
| Fees for services: Other | $689,908 |
| Advertising and promotion | $45,221 |
| Office expenses | $55,062 |
| Information technology | $158,203 |
| Royalties | $0 |
| Occupancy | $411,370 |
| Travel | $4,888 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,914,403 |
| Interest | $7,129 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $218,614 |
| Insurance | $141,672 |
| All other expenses | $0 |
| Total functional expenses | $8,989,873 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,452,570 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,551,166 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $83,635 |
| Prepaid expenses and deferred charges | $207,027 |
| Net Land, buildings, and equipment | $474,876 |
| Investments—publicly traded securities | $12,668,200 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,025,058 |
| Total assets | $20,462,532 |
| Accounts payable and accrued expenses | $4,240,206 |
| Grants payable | $0 |
| Deferred revenue | $3,073,747 |
| 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 | $16,434 |
| Total liabilities | $7,330,387 |
| Net assets without donor restrictions | $13,132,145 |
| 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 | $20,462,532 |
Grants Awarded
Over the last fiscal year, American Association Of Petroleum Geologists has awarded $40,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Lafayette, LA PURPOSE: IBA AWARD | $20,000 |
PENNSYLVANIA STATE UNIVERSITY PURPOSE: IBA AWARD | $10,000 |
SDSU DEPT OF GEO SCIENCES PURPOSE: IBA AWARD | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that American Association Of Petroleum Geologists has recieved totaling $227,068.
| Awarding Organization | Amount |
|---|---|
American Association Of Petroleum Geologists Foundation Tulsa, OK PURPOSE: SUPPORT OF AAPG BULLETIN | $141,000 |
American Association Of Petroleum Geologists Foundation Tulsa, OK PURPOSE: SUPPORT OF THE VISITING GEOSCIENTIST PROGRAM | $52,634 |
American Association Of Petroleum Geologists Foundation Tulsa, OK PURPOSE: SUPPORT OF THE DISTINGUISHED LECTURER PROGRAM | $33,434 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Society Of Exploration Geophysicists Tulsa, OK | $25,966,350 | $8,901,872 |
Geological Society Of America Inc Boulder, CO | $36,142,117 | $9,245,262 |
American Association Of Petroleum Geologists Tulsa, OK | $20,462,532 | $7,257,597 |
American Indian Science And Engineering Society Albuquerque, NM | $4,342,231 | $8,766,660 |
Numfocus Inc Austin, TX | $8,197,419 | $5,449,943 |
International Association Of Geophysical Contractors Houston, TX | $2,781,499 | $3,124,332 |
Society Of Asian Scientists And Engineers Denver, CO | $979,211 | $1,599,996 |
Electric Utility Industry Sustainable Supply Chain Alliance Kansas City, MO | $1,065,259 | $733,711 |
Society Of Vacuum Coaters Albuquerque, NM | $1,238,095 | $267,231 |
American Society Of Ichthyologists And Herpetologists Lawrence, KS | $1,761,128 | $445,688 |
Enc Inc Syntex Corporation Santa Fe, NM | $375,704 | $337,022 |
International College Of Applied Kinesiology Mission, KS | $416,829 | $251,821 |