Petroleum Equipment & Services Association
- Assets
- $2.4m
- Revenue
- $4.3m
- Investments
- $0.0
- Employees
- 14
- Location
- Houston, TX
- Founding
- 02/1944
- Data as of
- 12/2023
- EIN
- 74-0484340
Organization Overview
Petroleum Equipment & Services Association, operating under the name Energy Workforce & Technology Council, is located in Houston, TX. The organization was established in 1944. 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, Energy Workforce & Technology Council employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Energy Workforce & Technology Council 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, Energy Workforce & Technology Council generated $4.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $4.8m during the year ending 12/2023. While expenses have increased by 7.5% 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.
Since 2015, Energy Workforce & Technology Council has awarded 18 individual grants totaling $1,008,595. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
EMPOWERING THE ENERGY WORKFORCE OF THE FUTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL AND OTHER MEETINGS - THESE PROGRAMS ALLOW MEMBERS TO DISCUSS WITH ONE ANOTHER THE STATE OF THE PETROLEUM INDUSTRY AND ISSUES FACING IT.
EMERGING LEADERS - THIS PROGRAM TRAINS AND DEVELOPS MIDDLE MANAGERS SO THAT THEY CAN MOVE INTO THE SENIOR EXECUTIVE POSITIONS.
HUMAN RESOURCES OPERATIONS - THIS PROGRAM PROVIDES ONE-ON-ONE EXECUTIVE COACHING DESIGNED TO TRANSFORM MANAGERS FROM INDIVIDUAL CONTRIBUTORS INTO EFFECTIVE LEADERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Hindes Co-Chair | OfficerTrustee | 1 | $0 |
Brian Groody Co-Chair | OfficerTrustee | 1 | $0 |
Scott Livingston Vice Chair | OfficerTrustee | 1 | $0 |
Chuck Chauviere Finance Chair | Trustee | 0.5 | $0 |
Steven Anderson Director-At-Large | Trustee | 0.5 | $0 |
Lyndal Cissell Director-At-Large | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Washington Speakers Bureau Event Speaker Fees | 12/30/18 | $196,922 |
Textron Construction Co Office Renovation | 12/30/18 | $139,810 |
Abc Amega Inc Credit Reporting Membership | 12/30/18 | $101,750 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $15,120 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $45,061 |
| Noncash contributions included in lines 1a–1f | $15,120 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $60,181 |
| Total Program Service Revenue | $4,067,383 |
| Investment income | $45,559 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $19,461 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $20,707 |
| Net Income from Fundraising Events | $125,299 |
| Net Income from Gaming Activities | $4,740 |
| Net Income from Sales of Inventory | -$11,364 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,342,356 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $52,760 |
| 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. | $1,633,781 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $646,543 |
| Pension plan accruals and contributions | $42,423 |
| Other employee benefits | $122,665 |
| Payroll taxes | $144,887 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,001 |
| Fees for services: Accounting | $21,594 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,778 |
| Fees for services: Other | $71,223 |
| Advertising and promotion | $85,804 |
| Office expenses | $130,175 |
| Information technology | $12,411 |
| Royalties | $0 |
| Occupancy | $166,626 |
| Travel | $34,745 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $245,329 |
| Interest | $768 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $61,956 |
| Insurance | $14,384 |
| All other expenses | $192,339 |
| Total functional expenses | $4,760,340 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $224,740 |
| Savings and temporary cash investments | $33,687 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $111,088 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $23,909 |
| Prepaid expenses and deferred charges | $286,959 |
| Net Land, buildings, and equipment | $125,366 |
| Investments—publicly traded securities | $1,490,265 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $152,728 |
| Total assets | $2,448,742 |
| Accounts payable and accrued expenses | $408,860 |
| Grants payable | $0 |
| Deferred revenue | $1,121,608 |
| 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 | $206,645 |
| Total liabilities | $1,737,113 |
| Net assets without donor restrictions | $711,629 |
| 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 | $2,448,742 |
Grants Awarded
Over the last fiscal year, Petroleum Equipment & Services Association has awarded $50,260 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
PERMIAN BASIN AREA FOUNDATION PURPOSE: SCHOLARSHIP | $28,824 |
AESC SCHOLARSHIP FUND PURPOSE: SCHOLARSHIP | $21,436 |